FRASICO: what changed
Two fiscal 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.
What changed
FRASICO
NACE 96.230, Day spas, saunas and steam baths
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€116,509
2024 · -€165,544+€49,035
Equity
€551,312
2024 · €667,821-€116,509
Cash
€23,550
2024 · €19,111+€4,439
Balance sheet total
€1.8m
2024 · €1.9m-€91,402
Largest movements
Assets
- Tangible fixed assets -€84,830
down €84,830 (-4.6%), from €1.8m to €1.7m
of which Land and buildings: -€73,527
Equity and liabilities
- Profit (loss) carried forward -€116,509
down €116,509 (-18.0%), from €647,362 to €530,853
- Other debts +€71,195
up €71,195 (+18.6%), from €383,066 to €454,261
- Debts after one year -€51,678
down €51,678 (-6.8%), from €765,008 to €713,330
Income statement
- Gross operating margin +€62,584
up €62,584, from -€37,193 to €25,391
- Depreciation +€16,132
up €16,132 (+15.6%), from €103,558 to €119,690
- Financial charges -€2,471
down €2,471 (-11.1%), from €22,269 to €19,798
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.
Result 2024
-€165,544
Gross operating margin
+€62,584
Depreciation
-€16,132
Other operating charges
-€131
Financial income
+€325
Financial charges
+€2,471
Taxes
-€82
Result 2025
-€116,509
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.
From operations
+€91,521
Investment
-€34,860
Financing
-€52,222
Cash 2024
€19,111
From operations (derived)
+€91,521
Net result for the year
-€116,509
Depreciation
+€119,690
Stocks and contracts
+€1,033
Receivables within one year
+€6,077
Deferred charges and accrued income
+€3,901
Trade debts
+€2,820
Tax, wage and social debts
+€3,314
Other debts
+€71,195
Investment (derived)
-€34,860
Investment in fixed assets (net)
-€34,860
Financing
-€52,222
Debts after one year
-€51,678
Current portion of long-term debt
-€544
Cash 2025
€23,550
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,869,019 | €1,777,617 | -€91,402 | -4.9% |
| Fixed assets | 21/28 | €1,837,548 | €1,752,718 | -€84,830 | -4.6% |
| Tangible fixed assets | 22/27 | €1,832,428 | €1,747,598 | -€84,830 | -4.6% |
| Land and buildings | 22 | €1,619,970 | €1,546,443 | -€73,527 | -4.5% |
| Plant, machinery and equipment | 23 | €205,226 | €195,394 | -€9,832 | -4.8% |
| Furniture and vehicles | 24 | €7,232 | €5,761 | -€1,471 | -20.3% |
| Financial fixed assets | 28 | €5,120 | €5,120 | = | 0.0% |
| Current assets | 29/58 | €31,471 | €24,899 | -€6,572 | -20.9% |
| Stocks and contracts in progress | 3 | €1,462 | €429 | -€1,033 | -70.7% |
| Stocks | 30/36 | €1,462 | €429 | -€1,033 | -70.7% |
| Amounts receivable within one year | 40/41 | €6,077 | - | -€6,077 | |
| Other amounts receivable | 41 | €6,077 | - | -€6,077 | |
| Cash at bank and in hand | 54/58 | €19,111 | €23,550 | +€4,439 | +23.2% |
| Deferred charges and accrued income | 490/1 | €4,821 | €920 | -€3,901 | -80.9% |
| Total equity and liabilities | 10/49 | €1,869,019 | €1,777,617 | -€91,402 | -4.9% |
| Equity | 10/15 | €667,821 | €551,312 | -€116,509 | -17.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €647,362 | €530,853 | -€116,509 | -18.0% |
| Amounts payable | 17/49 | €1,201,198 | €1,226,305 | +€25,107 | +2.1% |
| Amounts payable after more than one year | 17 | €765,008 | €713,330 | -€51,678 | -6.8% |
| Financial debts | 170/4 | €765,008 | €713,330 | -€51,678 | -6.8% |
| Amounts payable within one year | 42/48 | €436,190 | €512,975 | +€76,785 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €52,222 | €51,678 | -€544 | -1.0% |
| Trade debts | 44 | €902 | €3,722 | +€2,820 | +312.6% |
| Suppliers | 440/4 | €902 | €3,722 | +€2,820 | +312.6% |
| Taxes, remuneration and social security | 45 | - | €3,314 | +€3,314 | |
| Taxes | 450/3 | - | €3,314 | +€3,314 | |
| Other amounts payable | 47/48 | €383,066 | €454,261 | +€71,195 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,558 | €119,690 | +€16,132 | +15.6% |
| Other operating charges | 640/8 | €2,808 | €2,939 | +€131 | +4.7% |
| Gross operating margin | 9900 | -€37,193 | €25,391 | +€62,584 | |
| Operating profit (loss) | 9901 | -€143,559 | -€97,238 | +€46,321 | +32.3% |
| Financial income | 75/76B | €426 | €751 | +€325 | +76.3% |
| Recurring financial income | 75 | €426 | €751 | +€325 | +76.3% |
| Financial charges | 65/66B | €22,269 | €19,798 | -€2,471 | -11.1% |
| Recurring financial charges | 65 | €22,269 | €19,798 | -€2,471 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | -€165,402 | -€116,285 | +€49,117 | +29.7% |
| Income taxes | 67/77 | €142 | €224 | +€82 | +57.7% |
| Profit (loss) for the period | 9904 | -€165,544 | -€116,509 | +€49,035 | +29.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€165,544 | -€116,509 | +€49,035 | +29.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.