FRAVADO: 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.
FRAVADO
Largest movements
- Cash +€97,245
up €97,245 (+79.7%), from €122,016 to €219,261
mainly Net result for the year (+€183,573) and Other debts (+€160,899)
- Receivables within one year +€78,077
up €78,077 (+1442.2%), from €5,414 to €83,491
of which Trade receivables: +€65,157
- Tangible fixed assets -€39,542
down €39,542 (-13.9%), from €285,445 to €245,904
of which Land and buildings: -€39,518
- Other debts +€160,899
up €160,899 (+349.9%), from €45,989 to €206,887
- Debts after one year -€36,842
down €36,842 (-22.6%), from €162,719 to €125,876
- Trade debts +€32,829
up €32,829 (+55.3%), from €59,320 to €92,149
- Reserves -€23,674
down €23,674 (-3.2%), from €740,777 to €717,103
- Gross operating margin -€172,944
down €172,944 (-36.1%), from €479,668 to €306,724
- Taxes -€52,546
down €52,546 (-37.7%), from €139,422 to €86,876
- Financial income +€5,898
up €5,898 (+91.4%), from €6,451 to €12,348
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 | €1,298,254 | €1,429,641 | +€131,387 | +10.1% |
| Fixed assets | 21/28 | €286,595 | €247,054 | -€39,542 | -13.8% |
| Tangible fixed assets | 22/27 | €285,445 | €245,904 | -€39,542 | -13.9% |
| Land and buildings | 22 | €285,398 | €245,880 | -€39,518 | -13.8% |
| Plant, machinery and equipment | 23 | €47 | €23 | -€24 | -50.3% |
| Financial fixed assets | 28 | €1,150 | €1,150 | = | 0.0% |
| Current assets | 29/58 | €1,011,659 | €1,182,588 | +€170,929 | +16.9% |
| Stocks and contracts in progress | 3 | €274,970 | €271,351 | -€3,619 | -1.3% |
| Stocks | 30/36 | €274,970 | €271,351 | -€3,619 | -1.3% |
| Amounts receivable within one year | 40/41 | €5,414 | €83,491 | +€78,077 | +1442.2% |
| Trade receivables | 40 | €5,414 | €70,570 | +€65,157 | +1203.6% |
| Other amounts receivable | 41 | - | €12,921 | +€12,921 | |
| Current investments | 50/53 | €605,000 | €605,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €122,016 | €219,261 | +€97,245 | +79.7% |
| Deferred charges and accrued income | 490/1 | €4,259 | €3,484 | -€775 | -18.2% |
| Total equity and liabilities | 10/49 | €1,298,254 | €1,429,641 | +€131,387 | +10.1% |
| Equity | 10/15 | €966,777 | €943,103 | -€23,674 | -2.4% |
| Contributions | 10/11 | €226,000 | €226,000 | = | 0.0% |
| Reserves | 13 | €740,777 | €717,103 | -€23,674 | -3.2% |
| Distributable reserves | 133 | €740,777 | €717,103 | -€23,674 | -3.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €331,477 | €486,539 | +€155,062 | +46.8% |
| Amounts payable after more than one year | 17 | €162,719 | €125,876 | -€36,842 | -22.6% |
| Financial debts | 170/4 | €162,719 | €125,876 | -€36,842 | -22.6% |
| Amounts payable within one year | 42/48 | €168,758 | €355,307 | +€186,549 | +110.5% |
| Current portion of amounts payable after more than one year | 42 | €36,842 | €36,842 | = | 0.0% |
| Trade debts | 44 | €59,320 | €92,149 | +€32,829 | +55.3% |
| Suppliers | 440/4 | €59,320 | €92,149 | +€32,829 | +55.3% |
| Taxes, remuneration and social security | 45 | €26,608 | €19,429 | -€7,179 | -27.0% |
| Taxes | 450/3 | €26,608 | €19,429 | -€7,179 | -27.0% |
| Other amounts payable | 47/48 | €45,989 | €206,887 | +€160,899 | +349.9% |
| Accrued charges and deferred income | 492/3 | - | €5,355 | +€5,355 | |
| Remuneration, social security and pensions | 62 | €271 | €290 | +€19 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,544 | €39,542 | -€2 | 0.0% |
| Other operating charges | 640/8 | €5,651 | €7,439 | +€1,788 | +31.6% |
| Gross operating margin | 9900 | €479,668 | €306,724 | -€172,944 | -36.1% |
| Operating profit (loss) | 9901 | €434,203 | €259,454 | -€174,749 | -40.2% |
| Financial income | 75/76B | €6,451 | €12,348 | +€5,898 | +91.4% |
| Recurring financial income | 75 | €6,451 | €12,348 | +€5,898 | +91.4% |
| Financial charges | 65/66B | €1,585 | €1,354 | -€231 | -14.6% |
| Recurring financial charges | 65 | €1,585 | €1,354 | -€231 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €439,069 | €270,448 | -€168,620 | -38.4% |
| Income taxes | 67/77 | €139,422 | €86,876 | -€52,546 | -37.7% |
| Profit (loss) for the period | 9904 | €299,647 | €183,573 | -€116,074 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €299,647 | €183,573 | -€116,074 | -38.7% |
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 9 October 2026 via checked.be.