Fraternitas: 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.
Fraternitas
Largest movements
- Cash -€399,522
down €399,522 (-14.6%), from €2.7m to €2.3m
mainly Debts after one year (-€407,565) and Net result for the year (-€280,780)
- Receivables after one year -€225,001
down €225,001 (-21.0%), from €1.1m to €848,619
- Debts after one year -€407,565
down €407,565 (-7.5%), from €5.5m to €5.1m
- Profit (loss) carried forward -€280,780
down €280,780 (-9.2%), from -€3.1m to -€3.3m
- Financial income -€46,331
down €46,331 (-84.2%), from €55,014 to €8,683
- Financial charges -€15,729
down €15,729 (-6.0%), from €263,034 to €247,305
- Gross operating margin -€12,725
down €12,725 (-70.9%), from €17,956 to €5,231
- Taxes +€2,605
new in 2025: €2,605
- Staff costs +€1,802
up €1,802 (+4.9%), from €37,085 to €38,887
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 | €4,025,043 | €3,359,263 | -€665,780 | -16.5% |
| Fixed assets | 21/28 | €29,861 | €27,603 | -€2,258 | -7.6% |
| Tangible fixed assets | 22/27 | €29,861 | €27,603 | -€2,258 | -7.6% |
| Land and buildings | 22 | €29,861 | €27,603 | -€2,258 | -7.6% |
| Current assets | 29/58 | €3,995,182 | €3,331,660 | -€663,522 | -16.6% |
| Amounts receivable after more than one year | 29 | €1,073,620 | €848,619 | -€225,001 | -21.0% |
| Trade receivables | 290 | €1,073,620 | €848,619 | -€225,001 | -21.0% |
| Amounts receivable within one year | 40/41 | €176,235 | €138,874 | -€37,361 | -21.2% |
| Trade receivables | 40 | €176,235 | €138,874 | -€37,361 | -21.2% |
| Cash at bank and in hand | 54/58 | €2,742,152 | €2,342,630 | -€399,522 | -14.6% |
| Deferred charges and accrued income | 490/1 | €3,175 | €1,537 | -€1,638 | -51.6% |
| Total equity and liabilities | 10/49 | €4,025,043 | €3,359,263 | -€665,780 | -16.5% |
| Equity | 10/15 | -€1,830,570 | -€2,111,349 | -€280,780 | -15.3% |
| Contributions | 10/11 | €62,013 | €62,013 | = | 0.0% |
| Capital | 10 | €62,013 | €62,013 | = | 0.0% |
| Issued capital | 100 | €93,000 | €93,000 | = | 0.0% |
| Uncalled capital | 101 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €1,165,543 | €1,165,543 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,300 | €9,300 | = | 0.0% |
| Legal reserve | 130 | €9,300 | €9,300 | = | 0.0% |
| Distributable reserves | 133 | €1,156,243 | €1,156,243 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,058,126 | -€3,338,905 | -€280,780 | -9.2% |
| Amounts payable | 17/49 | €5,855,612 | €5,470,612 | -€385,001 | -6.6% |
| Amounts payable after more than one year | 17 | €5,464,953 | €5,057,387 | -€407,565 | -7.5% |
| Financial debts | 170/4 | €5,464,953 | €5,057,387 | -€407,565 | -7.5% |
| Amounts payable within one year | 42/48 | €390,660 | €413,224 | +€22,565 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €385,970 | €407,565 | +€21,596 | +5.6% |
| Trade debts | 44 | - | €804 | +€804 | |
| Suppliers | 440/4 | - | €804 | +€804 | |
| Taxes, remuneration and social security | 45 | €4,690 | €4,856 | +€166 | +3.5% |
| Remuneration and social security | 454/9 | €4,690 | €4,856 | +€166 | +3.5% |
| Remuneration, social security and pensions | 62 | €37,085 | €38,887 | +€1,802 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,258 | €2,258 | = | 0.0% |
| Other operating charges | 640/8 | €4,013 | €3,639 | -€375 | -9.3% |
| Gross operating margin | 9900 | €17,956 | €5,231 | -€12,725 | -70.9% |
| Operating profit (loss) | 9901 | -€25,401 | -€39,553 | -€14,152 | -55.7% |
| Financial income | 75/76B | €55,014 | €8,683 | -€46,331 | -84.2% |
| Recurring financial income | 75 | €55,014 | €8,683 | -€46,331 | -84.2% |
| Financial charges | 65/66B | €263,034 | €247,305 | -€15,729 | -6.0% |
| Recurring financial charges | 65 | €263,034 | €247,305 | -€15,729 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | -€233,421 | -€278,175 | -€44,754 | -19.2% |
| Income taxes | 67/77 | - | €2,605 | +€2,605 | |
| Profit (loss) for the period | 9904 | -€233,421 | -€280,780 | -€47,359 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€233,421 | -€280,780 | -€47,359 | -20.3% |
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 7 October 2026 via checked.be.