FRAVAL: 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.
FRAVAL
Largest movements
- Receivables within one year -€5,161
down €5,161 (-5.2%), from €98,528 to €93,367
of which Trade receivables: -€2,838
- Tangible fixed assets +€4,748
up €4,748 (+27.8%), from €17,066 to €21,814
- Profit (loss) carried forward -€7,122
down €7,122 (-7.9%), from €89,703 to €82,581
- Trade debts +€5,303
up €5,303 (+196.0%), from €2,706 to €8,009
- Short-term financial debts +€1,632
up €1,632 (+52.2%), from €3,125 to €4,756
- Other operating charges -€6,796
down €6,796 (-95.7%), from €7,099 to €303
- Taxes +€5,644
up €5,644 (+79.4%), from €7,105 to €12,749
- Gross operating margin -€5,119
down €5,119 (-33.5%), from €15,278 to €10,159
- Write-downs +€1,776
new in 2025: €1,776
- Depreciation +€407
up €407 (+29.9%), from €1,360 to €1,768
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 | €115,985 | €115,797 | -€188 | -0.2% |
| Fixed assets | 21/28 | €17,457 | €22,205 | +€4,748 | +27.2% |
| Tangible fixed assets | 22/27 | €17,066 | €21,814 | +€4,748 | +27.8% |
| Furniture and vehicles | 24 | €17,066 | €21,814 | +€4,748 | +27.8% |
| Financial fixed assets | 28 | €391 | €391 | = | 0.0% |
| Current assets | 29/58 | €98,528 | €93,592 | -€4,936 | -5.0% |
| Amounts receivable within one year | 40/41 | €98,528 | €93,367 | -€5,161 | -5.2% |
| Trade receivables | 40 | €3,589 | €752 | -€2,838 | -79.1% |
| Other amounts receivable | 41 | €94,939 | €92,616 | -€2,323 | -2.4% |
| Cash at bank and in hand | 54/58 | - | €56 | +€56 | |
| Deferred charges and accrued income | 490/1 | - | €169 | +€169 | |
| Total equity and liabilities | 10/49 | €115,985 | €115,797 | -€188 | -0.2% |
| Equity | 10/15 | €110,154 | €103,032 | -€7,122 | -6.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,703 | €82,581 | -€7,122 | -7.9% |
| Amounts payable | 17/49 | €5,831 | €12,765 | +€6,934 | +118.9% |
| Amounts payable within one year | 42/48 | €5,831 | €12,765 | +€6,934 | +118.9% |
| Financial debts | 43 | €3,125 | €4,756 | +€1,632 | +52.2% |
| Credit institutions | 430/8 | €3,125 | €4,756 | +€1,632 | +52.2% |
| Trade debts | 44 | €2,706 | €8,009 | +€5,303 | +196.0% |
| Suppliers | 440/4 | €2,706 | €8,009 | +€5,303 | +196.0% |
| Non-recurring operating income | 76A | - | €2,479 | +€2,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,360 | €1,768 | +€407 | +29.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,776 | +€1,776 | |
| Other operating charges | 640/8 | €7,099 | €303 | -€6,796 | -95.7% |
| Gross operating margin | 9900 | €15,278 | €10,159 | -€5,119 | -33.5% |
| Operating profit (loss) | 9901 | €6,819 | €6,313 | -€506 | -7.4% |
| Financial charges | 65/66B | €911 | €686 | -€226 | -24.8% |
| Recurring financial charges | 65 | €911 | €686 | -€226 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €5,907 | €5,627 | -€280 | -4.7% |
| Income taxes | 67/77 | €7,105 | €12,749 | +€5,644 | +79.4% |
| Profit (loss) for the period | 9904 | -€1,197 | -€7,122 | -€5,925 | -494.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,197 | -€7,122 | -€5,925 | -494.8% |
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 1 October 2026 via checked.be.