FRANSSEN E.: 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.
FRANSSEN E.
Largest movements
- Receivables after one year -€174,500
down €174,500 (-38.3%), from €455,500 to €281,000
- Cash -€44,791
down €44,791 (-72.5%), from €61,802 to €17,011
mainly Contributions, distributions and other (-€394,500) and Current investments (-€18,000)
- Receivables within one year -€28,109
down €28,109 (-21.3%), from €131,705 to €103,597
of which Other amounts receivable: -€27,266
- Current investments +€18,000
new in 2025: €18,000
- Tangible fixed assets +€8,527
up €8,527 (+244.4%), from €3,489 to €12,017
of which Other tangible fixed assets: +€9,502
- Reserves -€347,678
down €347,678 (-62.9%), from €552,687 to €205,009
of which Distributable reserves: -€345,819
- Debts after one year +€63,766
up €63,766 (+96.5%), from €66,108 to €129,874
- Short-term financial debts +€37,833
up €37,833 (+557.7%), from €6,784 to €44,617
- Current portion of long-term debt +€16,931
up €16,931 (+175.0%), from €9,675 to €26,606
- Other debts +€8,500
new in 2025: €8,500
- Gross operating margin -€65,952
down €65,952 (-88.0%), from €74,983 to €9,031
- Financial income -€59,219
down €59,219 (-44.0%), from €134,513 to €75,294
of which Non-recurring financial income: -€93,212
- Financial charges -€36,726
down €36,726 (-57.3%), from €64,082 to €27,356
- Taxes -€16,594
down €16,594 (-65.4%), from €25,371 to €8,777
- Other operating charges -€1,266
down €1,266 (-83.6%), from €1,515 to €249
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.
Cash bridge derived
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 | €670,375 | €449,067 | -€221,308 | -33.0% |
| Fixed assets | 21/28 | €5,349 | €13,877 | +€8,527 | +159.4% |
| Tangible fixed assets | 22/27 | €3,489 | €12,017 | +€8,527 | +244.4% |
| Furniture and vehicles | 24 | €3,489 | €2,514 | -€975 | -27.9% |
| Other tangible fixed assets | 26 | - | €9,502 | +€9,502 | |
| Financial fixed assets | 28 | €1,860 | €1,860 | = | 0.0% |
| Current assets | 29/58 | €665,025 | €435,190 | -€229,835 | -34.6% |
| Amounts receivable after more than one year | 29 | €455,500 | €281,000 | -€174,500 | -38.3% |
| Other amounts receivable | 291 | €455,500 | €281,000 | -€174,500 | -38.3% |
| Amounts receivable within one year | 40/41 | €131,705 | €103,597 | -€28,109 | -21.3% |
| Trade receivables | 40 | €39,561 | €38,718 | -€843 | -2.1% |
| Other amounts receivable | 41 | €92,144 | €64,878 | -€27,266 | -29.6% |
| Current investments | 50/53 | - | €18,000 | +€18,000 | |
| Cash at bank and in hand | 54/58 | €61,802 | €17,011 | -€44,791 | -72.5% |
| Deferred charges and accrued income | 490/1 | €16,018 | €15,582 | -€436 | -2.7% |
| Total equity and liabilities | 10/49 | €670,375 | €449,067 | -€221,308 | -33.0% |
| Equity | 10/15 | €558,887 | €211,209 | -€347,678 | -62.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €552,687 | €205,009 | -€347,678 | -62.9% |
| Non-distributable reserves | 130/1 | €1,859 | €0 | -€1,859 | -100.0% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100.0% |
| Distributable reserves | 133 | €550,828 | €205,009 | -€345,819 | -62.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €111,487 | €237,857 | +€126,370 | +113.3% |
| Amounts payable after more than one year | 17 | €66,108 | €129,874 | +€63,766 | +96.5% |
| Financial debts | 170/4 | €66,108 | €129,874 | +€63,766 | +96.5% |
| Amounts payable within one year | 42/48 | €45,379 | €107,983 | +€62,604 | +138.0% |
| Current portion of amounts payable after more than one year | 42 | €9,675 | €26,606 | +€16,931 | +175.0% |
| Financial debts | 43 | €6,784 | €44,617 | +€37,833 | +557.7% |
| Credit institutions | 430/8 | €6,784 | €44,617 | +€37,833 | +557.7% |
| Trade debts | 44 | €320 | €1,319 | +€999 | +312.5% |
| Suppliers | 440/4 | €320 | €1,319 | +€999 | +312.5% |
| Taxes, remuneration and social security | 45 | €28,600 | €26,940 | -€1,660 | -5.8% |
| Taxes | 450/3 | €28,600 | €26,940 | -€1,660 | -5.8% |
| Other amounts payable | 47/48 | - | €8,500 | +€8,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €975 | €1,120 | +€145 | +14.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €1,515 | €249 | -€1,266 | -83.6% |
| Gross operating margin | 9900 | €74,983 | €9,031 | -€65,952 | -88.0% |
| Operating profit (loss) | 9901 | €72,493 | €7,661 | -€64,831 | -89.4% |
| Financial income | 75/76B | €134,513 | €75,294 | -€59,219 | -44.0% |
| Recurring financial income | 75 | €21,403 | €55,396 | +€33,993 | +158.8% |
| Non-recurring financial income | 76B | €113,110 | €19,898 | -€93,212 | -82.4% |
| Financial charges | 65/66B | €64,082 | €27,356 | -€36,726 | -57.3% |
| Recurring financial charges | 65 | €64,082 | €27,356 | -€36,726 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | €142,923 | €55,599 | -€87,324 | -61.1% |
| Income taxes | 67/77 | €25,371 | €8,777 | -€16,594 | -65.4% |
| Profit (loss) for the period | 9904 | €117,552 | €46,822 | -€70,730 | -60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €117,552 | €46,822 | -€70,730 | -60.2% |
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 11 October 2026 via checked.be.