Fratel - Management: 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 - Management
Largest movements
- Cash +€39,177
up €39,177 (+120%), from €32,685 to €71,863
mainly Receivables within one year (+€25,479) and Depreciation (+€19,360)
- Receivables within one year -€25,479
down €25,479 (-65.5%), from €38,921 to €13,442
of which Trade receivables: -€28,125
- Tangible fixed assets -€19,360
down €19,360 (-30.1%), from €64,407 to €45,047
- Provisions -€5,508
down €5,508 (-100%), from €5,508 to €0
- Trade debts -€2,555
down €2,555 (-43.8%), from €5,830 to €3,275
- Reserves +€1,981
up €1,981 (+1.7%), from €119,884 to €121,865
- Gross operating margin -€10,158
down €10,158 (-28.8%), from €35,309 to €25,150
- Depreciation +€4,753
up €4,753 (+32.5%), from €14,607 to €19,360
- Taxes -€3,289
down €3,289 (-43.1%), from €7,634 to €4,345
- Other operating charges -€660
down €660 (-37.8%), from €1,746 to €1,085
- Provisions -€508
down €508 (-10.2%), from -€5,000 to -€5,508
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 | €156,552 | €151,960 | -€4,593 | -2.9% |
| Fixed assets | 21/28 | €83,347 | €63,987 | -€19,360 | -23.2% |
| Tangible fixed assets | 22/27 | €64,407 | €45,047 | -€19,360 | -30.1% |
| Furniture and vehicles | 24 | €64,407 | €45,047 | -€19,360 | -30.1% |
| Financial fixed assets | 28 | €18,940 | €18,940 | = | 0.0% |
| Current assets | 29/58 | €73,206 | €87,973 | +€14,767 | +20.2% |
| Amounts receivable within one year | 40/41 | €38,921 | €13,442 | -€25,479 | -65.5% |
| Trade receivables | 40 | €38,912 | €10,787 | -€28,125 | -72.3% |
| Other amounts receivable | 41 | €8 | €2,655 | +€2,646 | +32,673% |
| Cash at bank and in hand | 54/58 | €32,685 | €71,863 | +€39,177 | +120% |
| Deferred charges and accrued income | 490/1 | €1,600 | €2,668 | +€1,068 | +66.8% |
| Total equity and liabilities | 10/49 | €156,552 | €151,960 | -€4,593 | -2.9% |
| Equity | 10/15 | €138,476 | €140,457 | +€1,981 | +1.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €119,884 | €121,865 | +€1,981 | +1.7% |
| Distributable reserves | 133 | €119,884 | €121,865 | +€1,981 | +1.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €5,508 | €0 | -€5,508 | -100% |
| Provisions for liabilities and charges | 160/5 | €5,508 | €0 | -€5,508 | -100% |
| Pensions and similar obligations | 160 | €5,508 | €0 | -€5,508 | -100% |
| Amounts payable | 17/49 | €12,568 | €11,503 | -€1,066 | -8.5% |
| Amounts payable within one year | 42/48 | €12,237 | €11,387 | -€850 | -6.9% |
| Trade debts | 44 | €5,830 | €3,275 | -€2,555 | -43.8% |
| Suppliers | 440/4 | €5,830 | €3,275 | -€2,555 | -43.8% |
| Taxes, remuneration and social security | 45 | €4,907 | €5,806 | +€899 | +18.3% |
| Taxes | 450/3 | €1,807 | €2,706 | +€899 | +49.7% |
| Remuneration and social security | 454/9 | €3,100 | €3,100 | = | 0.0% |
| Other amounts payable | 47/48 | €1,500 | €2,306 | +€806 | +53.7% |
| Accrued charges and deferred income | 492/3 | €331 | €116 | -€215 | -65.0% |
| Non-recurring operating income | 76A | €8,264 | €0 | -€8,264 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,607 | €19,360 | +€4,753 | +32.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,000 | -€5,508 | -€508 | -10.2% |
| Other operating charges | 640/8 | €1,746 | €1,085 | -€660 | -37.8% |
| Gross operating margin | 9900 | €35,309 | €25,150 | -€10,158 | -28.8% |
| Operating profit (loss) | 9901 | €23,956 | €10,213 | -€13,742 | -57.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €437 | €414 | -€23 | -5.2% |
| Recurring financial charges | 65 | €437 | €414 | -€23 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €23,519 | €9,799 | -€13,720 | -58.3% |
| Income taxes | 67/77 | €7,634 | €4,345 | -€3,289 | -43.1% |
| Profit (loss) for the period | 9904 | €15,885 | €5,454 | -€10,431 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,885 | €5,454 | -€10,431 | -65.7% |
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 16 October 2026 via checked.be.