FRAVALINI: 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.
FRAVALINI
Largest movements
- Receivables within one year -€80,400
down €80,400 (-59.9%), from €134,166 to €53,766
of which Other amounts receivable: -€92,792
- Cash +€58,102
up €58,102 (+165.0%), from €35,219 to €93,321
mainly Receivables within one year (+€80,400) and Trade debts (+€12,467)
- Deferred charges and accrued income +€4,531
up €4,531 (+1068.0%), from €424 to €4,955
- Tangible fixed assets -€4,212
down €4,212 (-26.7%), from €15,751 to €11,540
- Other debts -€24,701
down €24,701 (-38.0%), from €65,057 to €40,356
- Trade debts +€12,467
up €12,467 (+177.6%), from €7,020 to €19,487
- Profit (loss) carried forward -€9,124
down €9,124 (-10.5%), from €86,787 to €77,662
- Gross operating margin -€22,292
down €22,292, from €21,455 to -€837
- Taxes -€4,545
down €4,545 (-98.3%), from €4,622 to €77
- Write-downs +€1,213
no longer reported in 2025 (was -€1,213)
- Financial charges -€355
down €355 (-10.6%), from €3,356 to €3,001
- Depreciation +€274
up €274 (+7.9%), from €3,470 to €3,744
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 | €190,581 | €166,981 | -€23,601 | -12.4% |
| Fixed assets | 21/28 | €15,751 | €11,540 | -€4,212 | -26.7% |
| Tangible fixed assets | 22/27 | €15,751 | €11,540 | -€4,212 | -26.7% |
| Furniture and vehicles | 24 | €15,751 | €11,540 | -€4,212 | -26.7% |
| Current assets | 29/58 | €174,830 | €155,441 | -€19,389 | -11.1% |
| Stocks and contracts in progress | 3 | €5,021 | €3,400 | -€1,622 | -32.3% |
| Stocks | 30/36 | €5,021 | €3,400 | -€1,622 | -32.3% |
| Amounts receivable within one year | 40/41 | €134,166 | €53,766 | -€80,400 | -59.9% |
| Trade receivables | 40 | €15,594 | €27,986 | +€12,392 | +79.5% |
| Other amounts receivable | 41 | €118,572 | €25,779 | -€92,792 | -78.3% |
| Cash at bank and in hand | 54/58 | €35,219 | €93,321 | +€58,102 | +165.0% |
| Deferred charges and accrued income | 490/1 | €424 | €4,955 | +€4,531 | +1068.0% |
| Total equity and liabilities | 10/49 | €190,581 | €166,981 | -€23,601 | -12.4% |
| Equity | 10/15 | €108,787 | €99,662 | -€9,124 | -8.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,787 | €77,662 | -€9,124 | -10.5% |
| Amounts payable | 17/49 | €81,794 | €67,318 | -€14,476 | -17.7% |
| Amounts payable within one year | 42/48 | €78,559 | €64,541 | -€14,017 | -17.8% |
| Trade debts | 44 | €7,020 | €19,487 | +€12,467 | +177.6% |
| Suppliers | 440/4 | €7,020 | €19,487 | +€12,467 | +177.6% |
| Taxes, remuneration and social security | 45 | €6,482 | €4,698 | -€1,783 | -27.5% |
| Taxes | 450/3 | €6,482 | €4,698 | -€1,783 | -27.5% |
| Other amounts payable | 47/48 | €65,057 | €40,356 | -€24,701 | -38.0% |
| Accrued charges and deferred income | 492/3 | €3,236 | €2,777 | -€459 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,470 | €3,744 | +€274 | +7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,213 | - | +€1,213 | |
| Other operating charges | 640/8 | €1,491 | €1,479 | -€12 | -0.8% |
| Gross operating margin | 9900 | €21,455 | -€837 | -€22,292 | |
| Operating profit (loss) | 9901 | €17,708 | -€6,060 | -€23,768 | |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €3,356 | €3,001 | -€355 | -10.6% |
| Recurring financial charges | 65 | €3,356 | €3,001 | -€355 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €14,352 | -€9,048 | -€23,399 | |
| Income taxes | 67/77 | €4,622 | €77 | -€4,545 | -98.3% |
| Profit (loss) for the period | 9904 | €9,730 | -€9,124 | -€18,855 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,730 | -€9,124 | -€18,855 |
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 3 October 2026 via checked.be.