FRASOFI: 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.
FRASOFI
Largest movements
- Current investments +€324,398
up €324,398, from €0 to €324,398
- Cash -€236,359
down €236,359 (-26.7%), from €886,791 to €650,432
mainly Current investments (-€324,398) and Other debts (-€93,333)
- Tangible fixed assets -€199,491
down €199,491 (-8.4%), from €2.4m to €2.2m
of which Land and buildings: -€183,022
- Reserves +€238,811
up €238,811 (+29.4%), from €812,504 to €1.1m
of which Non-distributable reserves: +€203,996
- Profit (loss) carried forward -€172,901
down €172,901 (-70.6%), from €244,759 to €71,859
- Other debts -€93,333
down €93,333 (-86.2%), from €108,335 to €15,003
- Debts after one year -€85,546
down €85,546 (-15.1%), from €564,806 to €479,260
- Gross operating margin -€110,644
down €110,644 (-24.0%), from €461,662 to €351,018
- Depreciation +€85,878
up €85,878 (+74.4%), from €115,352 to €201,230
- Financial income -€15,743
down €15,743 (-100.0%), from €15,743 to €0
- Financial charges +€10,490
up €10,490 (+75.6%), from €13,873 to €24,363
- Taxes +€5,291
up €5,291 (+103.7%), from €5,100 to €10,391
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 | €3,268,677 | €3,160,258 | -€108,419 | -3.3% |
| Fixed assets | 21/28 | €2,369,509 | €2,170,018 | -€199,491 | -8.4% |
| Tangible fixed assets | 22/27 | €2,369,509 | €2,170,018 | -€199,491 | -8.4% |
| Land and buildings | 22 | €2,352,800 | €2,169,778 | -€183,022 | -7.8% |
| Furniture and vehicles | 24 | €16,709 | €240 | -€16,469 | -98.6% |
| Current assets | 29/58 | €899,169 | €990,240 | +€91,072 | +10.1% |
| Amounts receivable within one year | 40/41 | €9,827 | €14,298 | +€4,470 | +45.5% |
| Trade receivables | 40 | €9,827 | €7,188 | -€2,639 | -26.9% |
| Other amounts receivable | 41 | €0 | €7,109 | +€7,109 | |
| Current investments | 50/53 | €0 | €324,398 | +€324,398 | |
| Cash at bank and in hand | 54/58 | €886,791 | €650,432 | -€236,359 | -26.7% |
| Deferred charges and accrued income | 490/1 | €2,550 | €1,113 | -€1,437 | -56.4% |
| Total equity and liabilities | 10/49 | €3,268,677 | €3,160,258 | -€108,419 | -3.3% |
| Equity | 10/15 | €2,261,282 | €2,327,192 | +€65,910 | +2.9% |
| Contributions | 10/11 | €1,204,019 | €1,204,019 | = | 0.0% |
| Reserves | 13 | €812,504 | €1,051,314 | +€238,811 | +29.4% |
| Non-distributable reserves | 130/1 | €120,402 | €324,398 | +€203,996 | +169.4% |
| Reserves not available under the articles | 1311 | €120,402 | €0 | -€120,402 | -100.0% |
| Own shares acquired | 1312 | - | €324,398 | +€324,398 | |
| Tax-exempt reserves | 132 | €692,102 | €726,917 | +€34,815 | +5.0% |
| Profit (loss) carried forward | 14 | €244,759 | €71,859 | -€172,901 | -70.6% |
| Provisions and deferred taxes | 16 | €230,701 | €242,306 | +€11,605 | +5.0% |
| Deferred taxes | 168 | €230,701 | €242,306 | +€11,605 | +5.0% |
| Amounts payable | 17/49 | €776,694 | €590,761 | -€185,933 | -23.9% |
| Amounts payable after more than one year | 17 | €564,806 | €479,260 | -€85,546 | -15.1% |
| Financial debts | 170/4 | €564,806 | €479,260 | -€85,546 | -15.1% |
| Amounts payable within one year | 42/48 | €202,064 | €100,567 | -€101,498 | -50.2% |
| Current portion of amounts payable after more than one year | 42 | €84,682 | €85,546 | +€864 | +1.0% |
| Trade debts | 44 | €2,520 | €18 | -€2,502 | -99.3% |
| Suppliers | 440/4 | €2,520 | €18 | -€2,502 | -99.3% |
| Taxes, remuneration and social security | 45 | €6,527 | €0 | -€6,527 | -100.0% |
| Taxes | 450/3 | €6,527 | €0 | -€6,527 | -100.0% |
| Other amounts payable | 47/48 | €108,335 | €15,003 | -€93,333 | -86.2% |
| Accrued charges and deferred income | 492/3 | €9,824 | €10,935 | +€1,110 | +11.3% |
| Non-recurring operating income | 76A | €329,600 | €0 | -€329,600 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,352 | €201,230 | +€85,878 | +74.4% |
| Other operating charges | 640/8 | €34,865 | €37,520 | +€2,654 | +7.6% |
| Gross operating margin | 9900 | €461,662 | €351,018 | -€110,644 | -24.0% |
| Operating profit (loss) | 9901 | €311,445 | €112,269 | -€199,177 | -64.0% |
| Financial income | 75/76B | €15,743 | €0 | -€15,743 | -100.0% |
| Recurring financial income | 75 | €15,743 | €0 | -€15,743 | -100.0% |
| Financial charges | 65/66B | €13,873 | €24,363 | +€10,490 | +75.6% |
| Recurring financial charges | 65 | €13,873 | €24,363 | +€10,490 | +75.6% |
| Profit (loss) for the period before taxes | 9903 | €313,315 | €87,905 | -€225,409 | -71.9% |
| Transfer from deferred taxes | 780 | €16,302 | €7,059 | -€9,243 | -56.7% |
| Transfer to deferred taxes | 680 | €82,400 | €18,664 | -€63,736 | -77.3% |
| Income taxes | 67/77 | €5,100 | €10,391 | +€5,291 | +103.7% |
| Profit (loss) for the period | 9904 | €242,117 | €65,910 | -€176,208 | -72.8% |
| Transfer from tax-exempt reserves | 789 | €37,476 | €21,177 | -€16,299 | -43.5% |
| Transfer to tax-exempt reserves | 689 | €247,200 | €55,992 | -€191,208 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,393 | €31,095 | -€1,298 | -4.0% |
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 10 October 2026 via checked.be.