Fransen: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Fransen
Largest movements
- Receivables within one year -€20,869
down €20,869 (-45.8%), from €45,578 to €24,709
of which Trade receivables: -€23,935
- Cash +€7,706
up €7,706 (+65.3%), from €11,809 to €19,515
mainly Depreciation (+€39,856) and Net result for the year (+€38,689)
- Tangible fixed assets -€7,112
down €7,112 (-3.5%), from €202,550 to €195,438
of which Plant, machinery and equipment: -€23,937
- Deferred charges and accrued income -€3,104
down €3,104 (-91.4%), from €3,396 to €292
- Current portion of long-term debt -€39,480
down €39,480 (-56.3%), from €70,117 to €30,636
- Reserves +€38,689
up €38,689 (+106%), from €36,546 to €75,235
- Debts after one year -€30,636
down €30,636 (-34.7%), from €88,174 to €57,537
- Other debts +€26,298
up €26,298 (+140%), from €18,772 to €45,070
- Trade debts -€22,694
down €22,694 (-70.2%), from €32,323 to €9,628
- Gross operating margin +€63,213
up €63,213 (+92.1%), from €68,607 to €131,821
- Staff costs +€25,180
new in 2025: €25,180
- Taxes +€10,298
up €10,298 (+284%), from €3,626 to €13,924
- Write-downs +€9,070
new in 2025: €9,070
- Financial income +€3,005
up €3,005 (+1,993%), from €151 to €3,155
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €264,752 | €241,383 | -€23,368 | -8.8% |
| Fixed assets | 21/28 | €202,685 | €195,573 | -€7,112 | -3.5% |
| Tangible fixed assets | 22/27 | €202,550 | €195,438 | -€7,112 | -3.5% |
| Plant, machinery and equipment | 23 | €175,367 | €151,431 | -€23,937 | -13.6% |
| Furniture and vehicles | 24 | €27,183 | €44,008 | +€16,825 | +61.9% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €62,066 | €45,810 | -€16,257 | -26.2% |
| Amounts receivable within one year | 40/41 | €45,578 | €24,709 | -€20,869 | -45.8% |
| Trade receivables | 40 | €42,716 | €18,781 | -€23,935 | -56.0% |
| Other amounts receivable | 41 | €2,862 | €5,929 | +€3,067 | +107% |
| Current investments | 50/53 | €1,284 | €1,294 | +€10 | +0.7% |
| Cash at bank and in hand | 54/58 | €11,809 | €19,515 | +€7,706 | +65.3% |
| Deferred charges and accrued income | 490/1 | €3,396 | €292 | -€3,104 | -91.4% |
| Total equity and liabilities | 10/49 | €264,752 | €241,383 | -€23,368 | -8.8% |
| Equity | 10/15 | €52,446 | €91,135 | +€38,689 | +73.8% |
| Contributions | 10/11 | €15,900 | €15,900 | = | 0.0% |
| Reserves | 13 | €36,546 | €75,235 | +€38,689 | +106% |
| Distributable reserves | 133 | €36,546 | €75,235 | +€38,689 | +106% |
| Amounts payable | 17/49 | €212,306 | €150,248 | -€62,057 | -29.2% |
| Amounts payable after more than one year | 17 | €88,174 | €57,537 | -€30,636 | -34.7% |
| Financial debts | 170/4 | €88,174 | €57,537 | -€30,636 | -34.7% |
| Amounts payable within one year | 42/48 | €124,132 | €92,711 | -€31,421 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €70,117 | €30,636 | -€39,480 | -56.3% |
| Trade debts | 44 | €32,323 | €9,628 | -€22,694 | -70.2% |
| Suppliers | 440/4 | €32,323 | €9,628 | -€22,694 | -70.2% |
| Taxes, remuneration and social security | 45 | €2,920 | €7,376 | +€4,456 | +153% |
| Taxes | 450/3 | €2,920 | €6,245 | +€3,324 | +114% |
| Remuneration and social security | 454/9 | - | €1,131 | +€1,131 | |
| Other amounts payable | 47/48 | €18,772 | €45,070 | +€26,298 | +140% |
| Non-recurring operating income | 76A | €357 | €4,462 | +€4,105 | +1,151% |
| Remuneration, social security and pensions | 62 | - | €25,180 | +€25,180 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,449 | €39,856 | +€407 | +1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,070 | +€9,070 | |
| Other operating charges | 640/8 | €3,542 | €3,241 | -€301 | -8.5% |
| Non-recurring operating charges | 66A | €11,500 | - | -€11,500 | |
| Gross operating margin | 9900 | €68,607 | €131,821 | +€63,213 | +92.1% |
| Operating profit (loss) | 9901 | €14,116 | €54,474 | +€40,358 | +286% |
| Financial income | 75/76B | €151 | €3,155 | +€3,005 | +1,993% |
| Recurring financial income | 75 | €151 | €3,155 | +€3,005 | +1,993% |
| Financial charges | 65/66B | €3,296 | €5,016 | +€1,720 | +52.2% |
| Recurring financial charges | 65 | €3,296 | €5,016 | +€1,720 | +52.2% |
| Profit (loss) for the period before taxes | 9903 | €10,971 | €52,613 | +€41,642 | +380% |
| Income taxes | 67/77 | €3,626 | €13,924 | +€10,298 | +284% |
| Profit (loss) for the period | 9904 | €7,345 | €38,689 | +€31,344 | +427% |
| Profit (loss) for the period to be appropriated | 9905 | €7,345 | €38,689 | +€31,344 | +427% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.