FRATEL: 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.
FRATEL
Largest movements
- Receivables within one year +€53,534
up €53,534 (+75.3%), from €71,110 to €124,644
of which Trade receivables: +€51,410
- Stocks and contracts +€47,244
up €47,244 (+33.7%), from €140,359 to €187,603
- Cash +€10,513
up €10,513 (+106.8%), from €9,843 to €20,356
mainly Other debts (+€103,293) and Depreciation (+€11,273)
- Deferred charges and accrued income +€6,332
up €6,332 (+107.6%), from €5,883 to €12,215
- Tangible fixed assets -€5,374
down €5,374 (-25.7%), from €20,883 to €15,509
of which Furniture and vehicles: -€6,373
- Other debts +€103,293
up €103,293 (+94.4%), from €109,478 to €212,771
- Debts after one year +€10,656
up €10,656 (+84.2%), from €12,659 to €23,315
- Trade debts -€8,018
down €8,018 (-15.7%), from €51,183 to €43,165
- Current portion of long-term debt +€6,820
up €6,820 (+215.3%), from €3,168 to €9,988
- Profit (loss) carried forward +€5,530
up €5,530 (+243.3%), from €2,273 to €7,803
- Write-downs -€25,655
down €25,655 (-96.6%), from €26,546 to €891
- Staff costs +€10,442
up €10,442 (+16.4%), from €63,718 to €74,160
- Financial charges +€8,105
up €8,105 (+596.0%), from €1,360 to €9,465
- Gross operating margin -€8,063
down €8,063 (-7.0%), from €114,612 to €106,549
- Depreciation +€1,836
up €1,836 (+19.5%), from €9,437 to €11,273
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €249,161 | €361,690 | +€112,529 | +45.2% |
| Fixed assets | 21/28 | €21,966 | €16,872 | -€5,094 | -23.2% |
| Intangible fixed assets | 21 | €373 | €321 | -€52 | -13.9% |
| Tangible fixed assets | 22/27 | €20,883 | €15,509 | -€5,374 | -25.7% |
| Plant, machinery and equipment | 23 | €7,358 | €8,642 | +€1,284 | +17.5% |
| Furniture and vehicles | 24 | €11,636 | €5,263 | -€6,373 | -54.8% |
| Other tangible fixed assets | 26 | €1,889 | €1,604 | -€285 | -15.1% |
| Financial fixed assets | 28 | €710 | €1,042 | +€332 | +46.8% |
| Current assets | 29/58 | €227,195 | €344,818 | +€117,623 | +51.8% |
| Stocks and contracts in progress | 3 | €140,359 | €187,603 | +€47,244 | +33.7% |
| Stocks | 30/36 | €140,359 | €187,603 | +€47,244 | +33.7% |
| Amounts receivable within one year | 40/41 | €71,110 | €124,644 | +€53,534 | +75.3% |
| Trade receivables | 40 | €61,476 | €112,886 | +€51,410 | +83.6% |
| Other amounts receivable | 41 | €9,634 | €11,758 | +€2,124 | +22.0% |
| Cash at bank and in hand | 54/58 | €9,843 | €20,356 | +€10,513 | +106.8% |
| Deferred charges and accrued income | 490/1 | €5,883 | €12,215 | +€6,332 | +107.6% |
| Total equity and liabilities | 10/49 | €249,161 | €361,690 | +€112,529 | +45.2% |
| Equity | 10/15 | €22,724 | €28,254 | +€5,530 | +24.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,273 | €7,803 | +€5,530 | +243.3% |
| Amounts payable | 17/49 | €226,437 | €333,436 | +€106,999 | +47.3% |
| Amounts payable after more than one year | 17 | €12,659 | €23,315 | +€10,656 | +84.2% |
| Financial debts | 170/4 | €12,659 | €23,315 | +€10,656 | +84.2% |
| Amounts payable within one year | 42/48 | €187,252 | €286,240 | +€98,988 | +52.9% |
| Current portion of amounts payable after more than one year | 42 | €3,168 | €9,988 | +€6,820 | +215.3% |
| Trade debts | 44 | €51,183 | €43,165 | -€8,018 | -15.7% |
| Suppliers | 440/4 | €51,183 | €43,165 | -€8,018 | -15.7% |
| Taxes, remuneration and social security | 45 | €23,423 | €20,316 | -€3,107 | -13.3% |
| Taxes | 450/3 | €13,776 | €12,652 | -€1,124 | -8.2% |
| Remuneration and social security | 454/9 | €9,647 | €7,664 | -€1,983 | -20.6% |
| Other amounts payable | 47/48 | €109,478 | €212,771 | +€103,293 | +94.4% |
| Accrued charges and deferred income | 492/3 | €26,526 | €23,881 | -€2,645 | -10.0% |
| Remuneration, social security and pensions | 62 | €63,718 | €74,160 | +€10,442 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,437 | €11,273 | +€1,836 | +19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €26,546 | €891 | -€25,655 | -96.6% |
| Other operating charges | 640/8 | €1,937 | €2,075 | +€138 | +7.1% |
| Gross operating margin | 9900 | €114,612 | €106,549 | -€8,063 | -7.0% |
| Operating profit (loss) | 9901 | €12,974 | €18,150 | +€5,176 | +39.9% |
| Financial income | 75/76B | €8 | €114 | +€106 | +1325.0% |
| Recurring financial income | 75 | €8 | €114 | +€106 | +1325.0% |
| Financial charges | 65/66B | €1,360 | €9,465 | +€8,105 | +596.0% |
| Recurring financial charges | 65 | €1,360 | €9,465 | +€8,105 | +596.0% |
| Profit (loss) for the period before taxes | 9903 | €11,622 | €8,799 | -€2,823 | -24.3% |
| Income taxes | 67/77 | €3,513 | €3,269 | -€244 | -6.9% |
| Profit (loss) for the period | 9904 | €8,109 | €5,530 | -€2,579 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,109 | €5,530 | -€2,579 | -31.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.