FRAPOM: 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.
FRAPOM
Largest movements
- Stocks and contracts +€839,911
up €839,911 (+113%), from €746,499 to €1.6m
- Receivables within one year -€322,003
down €322,003 (-65.2%), from €493,639 to €171,636
of which Trade receivables: -€235,968
- Tangible fixed assets +€208,892
up €208,892 (+15.9%), from €1.3m to €1.5m
of which Land and buildings: +€223,897
- Cash -€124,941
down €124,941 (-87.9%), from €142,159 to €17,218
mainly Stocks and contracts (-€839,911) and Investment in fixed assets (net) (-€362,635)
- Trade debts +€491,502
up €491,502 (+78.9%), from €623,260 to €1.1m
- Debts after one year +€113,326
up €113,326 (+9.6%), from €1.2m to €1.3m
- Current portion of long-term debt +€78,779
up €78,779 (+48.1%), from €163,878 to €242,657
- Profit (loss) carried forward -€76,936
down €76,936, from €0 to -€76,936
- Gross operating margin -€412,246
down €412,246 (-65.7%), from €627,076 to €214,831
- Other operating charges -€104,059
down €104,059 (-92.7%), from €112,294 to €8,235
- Depreciation +€52,809
up €52,809 (+52.1%), from €101,295 to €154,103
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 | €2,703,971 | €3,305,301 | +€601,330 | +22.2% |
| Formation expenses | 20 | €360 | €0 | -€360 | -100% |
| Fixed assets | 21/28 | €1,312,946 | €1,521,838 | +€208,892 | +15.9% |
| Tangible fixed assets | 22/27 | €1,312,946 | €1,521,838 | +€208,892 | +15.9% |
| Land and buildings | 22 | €1,012,927 | €1,236,824 | +€223,897 | +22.1% |
| Plant, machinery and equipment | 23 | €300,019 | €236,052 | -€63,967 | -21.3% |
| Furniture and vehicles | 24 | €0 | €48,962 | +€48,962 | |
| Current assets | 29/58 | €1,390,665 | €1,783,462 | +€392,797 | +28.2% |
| Stocks and contracts in progress | 3 | €746,499 | €1,586,410 | +€839,911 | +113% |
| Contracts in progress | 37 | €746,499 | €1,586,410 | +€839,911 | +113% |
| Amounts receivable within one year | 40/41 | €493,639 | €171,636 | -€322,003 | -65.2% |
| Trade receivables | 40 | €324,546 | €88,578 | -€235,968 | -72.7% |
| Other amounts receivable | 41 | €169,093 | €83,058 | -€86,035 | -50.9% |
| Cash at bank and in hand | 54/58 | €142,159 | €17,218 | -€124,941 | -87.9% |
| Deferred charges and accrued income | 490/1 | €8,368 | €8,198 | -€170 | -2.0% |
| Total equity and liabilities | 10/49 | €2,703,971 | €3,305,301 | +€601,330 | +22.2% |
| Equity | 10/15 | €327,903 | €250,968 | -€76,936 | -23.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €227,903 | €227,903 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €217,903 | €217,903 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€76,936 | -€76,936 | |
| Amounts payable | 17/49 | €2,376,068 | €3,054,333 | +€678,265 | +28.5% |
| Amounts payable after more than one year | 17 | €1,177,344 | €1,290,670 | +€113,326 | +9.6% |
| Financial debts | 170/4 | €1,177,344 | €1,290,670 | +€113,326 | +9.6% |
| Amounts payable within one year | 42/48 | €1,198,724 | €1,763,663 | +€564,939 | +47.1% |
| Current portion of amounts payable after more than one year | 42 | €163,878 | €242,657 | +€78,779 | +48.1% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €623,260 | €1,114,762 | +€491,502 | +78.9% |
| Suppliers | 440/4 | €623,260 | €1,114,762 | +€491,502 | +78.9% |
| Taxes, remuneration and social security | 45 | €11,585 | €6,243 | -€5,342 | -46.1% |
| Taxes | 450/3 | - | €763 | +€763 | |
| Remuneration and social security | 454/9 | €11,585 | €5,480 | -€6,105 | -52.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €608 | +€608 | |
| Remuneration, social security and pensions | 62 | €46,952 | €46,389 | -€563 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,295 | €154,103 | +€52,809 | +52.1% |
| Other operating charges | 640/8 | €112,294 | €8,235 | -€104,059 | -92.7% |
| Gross operating margin | 9900 | €627,076 | €214,831 | -€412,246 | -65.7% |
| Operating profit (loss) | 9901 | €366,536 | €6,104 | -€360,432 | -98.3% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €79,155 | €83,039 | +€3,884 | +4.9% |
| Recurring financial charges | 65 | €79,155 | €83,039 | +€3,884 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €287,381 | -€76,936 | -€364,316 | |
| Profit (loss) for the period | 9904 | €287,381 | -€76,936 | -€364,316 | |
| Profit (loss) for the period to be appropriated | 9905 | €287,381 | -€76,936 | -€364,316 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.