Frasi: 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.
Frasi
Largest movements
- Stocks and contracts -€58,456
down €58,456 (-26.3%), from €222,349 to €163,893
of which Contracts in progress: -€60,549
- Cash +€19,368
up €19,368 (+355%), from €5,449 to €24,816
mainly Stocks and contracts (+€58,456) and Tax, wage and social debts (+€10,673)
- Receivables within one year +€13,409
up €13,409 (+35.8%), from €37,452 to €50,862
of which Trade receivables: +€14,499
- Tangible fixed assets -€6,951
down €6,951 (-23.6%), from €29,452 to €22,501
of which Plant, machinery and equipment: -€5,817
- Other debts -€39,056
down €39,056 (-27.0%), from €144,891 to €105,835
- Tax, wage and social debts +€10,673
up €10,673 (+11.7%), from €91,207 to €101,881
of which Taxes: +€20,875
- Trade debts -€6,986
down €6,986 (-40.2%), from €17,362 to €10,375
- Gross operating margin +€13,218
up €13,218 (+7.2%), from €182,359 to €195,577
- Staff costs -€6,259
down €6,259 (-3.5%), from €180,079 to €173,820
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 | €297,704 | €264,897 | -€32,806 | -11.0% |
| Fixed assets | 21/28 | €32,097 | €25,146 | -€6,951 | -21.7% |
| Tangible fixed assets | 22/27 | €29,452 | €22,501 | -€6,951 | -23.6% |
| Plant, machinery and equipment | 23 | €26,281 | €20,464 | -€5,817 | -22.1% |
| Furniture and vehicles | 24 | €3,171 | €2,037 | -€1,134 | -35.8% |
| Financial fixed assets | 28 | €2,645 | €2,645 | = | 0.0% |
| Current assets | 29/58 | €265,607 | €239,751 | -€25,856 | -9.7% |
| Stocks and contracts in progress | 3 | €222,349 | €163,893 | -€58,456 | -26.3% |
| Stocks | 30/36 | €67,627 | €69,720 | +€2,094 | +3.1% |
| Contracts in progress | 37 | €154,722 | €94,173 | -€60,549 | -39.1% |
| Amounts receivable within one year | 40/41 | €37,452 | €50,862 | +€13,409 | +35.8% |
| Trade receivables | 40 | €31,926 | €46,425 | +€14,499 | +45.4% |
| Other amounts receivable | 41 | €5,526 | €4,437 | -€1,089 | -19.7% |
| Cash at bank and in hand | 54/58 | €5,449 | €24,816 | +€19,368 | +355% |
| Deferred charges and accrued income | 490/1 | €357 | €180 | -€177 | -49.6% |
| Total equity and liabilities | 10/49 | €297,704 | €264,897 | -€32,806 | -11.0% |
| Equity | 10/15 | -€84,981 | -€84,194 | +€788 | +0.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,981 | -€96,194 | +€788 | +0.8% |
| Amounts payable | 17/49 | €382,685 | €349,091 | -€33,594 | -8.8% |
| Amounts payable within one year | 42/48 | €378,459 | €343,091 | -€35,369 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €17,362 | €10,375 | -€6,986 | -40.2% |
| Suppliers | 440/4 | €17,362 | €10,375 | -€6,986 | -40.2% |
| Taxes, remuneration and social security | 45 | €91,207 | €101,881 | +€10,673 | +11.7% |
| Taxes | 450/3 | €9,712 | €30,588 | +€20,875 | +215% |
| Remuneration and social security | 454/9 | €81,495 | €71,293 | -€10,202 | -12.5% |
| Other amounts payable | 47/48 | €144,891 | €105,835 | -€39,056 | -27.0% |
| Accrued charges and deferred income | 492/3 | €4,225 | €6,000 | +€1,775 | +42.0% |
| Remuneration, social security and pensions | 62 | €180,079 | €173,820 | -€6,259 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,100 | €7,380 | -€721 | -8.9% |
| Other operating charges | 640/8 | €773 | €591 | -€182 | -23.6% |
| Gross operating margin | 9900 | €182,359 | €195,577 | +€13,218 | +7.2% |
| Operating profit (loss) | 9901 | -€6,594 | €13,787 | +€20,380 | |
| Financial income | 75/76B | €927 | €471 | -€457 | -49.2% |
| Recurring financial income | 75 | €927 | €471 | -€457 | -49.2% |
| Financial charges | 65/66B | €13,754 | €13,470 | -€284 | -2.1% |
| Recurring financial charges | 65 | €13,754 | €13,470 | -€284 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | -€19,421 | €788 | +€20,208 | |
| Income taxes | 67/77 | €33 | €0 | -€33 | -100% |
| Profit (loss) for the period | 9904 | -€19,454 | €788 | +€20,241 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,454 | €788 | +€20,241 |
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 27 October 2026 via checked.be.