FRAVEE: 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.
FRAVEE
Largest movements
- Current investments +€1.0m
up €1.0m (+625.4%), from €159,902 to €1.2m
- Cash -€388,437
down €388,437 (-55.6%), from €698,777 to €310,340
mainly Current investments (-€1.0m) and Trade debts (-€376,136)
- Receivables within one year -€379,495
down €379,495 (-25.5%), from €1.5m to €1.1m
- Tangible fixed assets +€145,920
up €145,920 (+4.4%), from €3.3m to €3.4m
of which Assets under construction and advance payments: +€386,861
- Profit (loss) carried forward +€1.3m
up €1.3m (+521.5%), from €243,545 to €1.5m
- Trade debts -€376,136
down €376,136 (-95.1%), from €395,708 to €19,572
- Advances received -€133,000
no longer reported in 2025 (was €133,000)
- Debts after one year -€115,289
down €115,289 (-8.0%), from €1.4m to €1.3m
- Other debts -€104,993
down €104,993 (-41.3%), from €254,101 to €149,107
- Financial income +€1.5m
up €1.5m (+8353.6%), from €17,815 to €1.5m
of which Non-recurring financial income: +€1.5m
- Other operating charges +€228,208
up €228,208 (+879.0%), from €25,961 to €254,169
- Gross operating margin +€110,020
up €110,020 (+1542.4%), from €7,133 to €117,153
- Depreciation +€45,520
up €45,520 (+30.1%), from €151,424 to €196,944
- Financial charges -€22,435
down €22,435 (-41.7%), from €53,783 to €31,348
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 | €6,172,517 | €6,551,044 | +€378,527 | +6.1% |
| Fixed assets | 21/28 | €3,822,440 | €3,968,760 | +€146,320 | +3.8% |
| Tangible fixed assets | 22/27 | €3,296,555 | €3,442,475 | +€145,920 | +4.4% |
| Land and buildings | 22 | €3,259,205 | €3,025,387 | -€233,818 | -7.2% |
| Plant, machinery and equipment | 23 | €4,662 | €0 | -€4,662 | -100.0% |
| Furniture and vehicles | 24 | €17,660 | €15,439 | -€2,221 | -12.6% |
| Other tangible fixed assets | 26 | €240 | €0 | -€240 | -100.0% |
| Assets under construction and advance payments | 27 | €14,789 | €401,650 | +€386,861 | +2615.8% |
| Financial fixed assets | 28 | €525,885 | €526,285 | +€400 | +0.1% |
| Current assets | 29/58 | €2,350,077 | €2,582,283 | +€232,207 | +9.9% |
| Amounts receivable within one year | 40/41 | €1,488,077 | €1,108,583 | -€379,495 | -25.5% |
| Other amounts receivable | 41 | €1,488,077 | €1,108,583 | -€379,495 | -25.5% |
| Current investments | 50/53 | €159,902 | €1,159,902 | +€1.0m | +625.4% |
| Cash at bank and in hand | 54/58 | €698,777 | €310,340 | -€388,437 | -55.6% |
| Deferred charges and accrued income | 490/1 | €3,321 | €3,459 | +€138 | +4.2% |
| Total equity and liabilities | 10/49 | €6,172,517 | €6,551,044 | +€378,527 | +6.1% |
| Equity | 10/15 | €2,944,177 | €4,122,080 | +€1.2m | +40.0% |
| Contributions | 10/11 | €314,000 | €314,000 | = | 0.0% |
| Capital | 10 | €314,000 | €314,000 | = | 0.0% |
| Issued capital | 100 | €314,000 | €314,000 | = | 0.0% |
| Reserves | 13 | €2,386,632 | €2,294,516 | -€92,116 | -3.9% |
| Non-distributable reserves | 130/1 | €93,900 | €93,900 | = | 0.0% |
| Legal reserve | 130 | €93,900 | €93,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,292,732 | €2,200,616 | -€92,116 | -4.0% |
| Profit (loss) carried forward | 14 | €243,545 | €1,513,563 | +€1.3m | +521.5% |
| Provisions and deferred taxes | 16 | €850,948 | €813,533 | -€37,415 | -4.4% |
| Deferred taxes | 168 | €850,948 | €813,533 | -€37,415 | -4.4% |
| Amounts payable | 17/49 | €2,377,392 | €1,615,431 | -€761,961 | -32.1% |
| Amounts payable after more than one year | 17 | €1,440,072 | €1,324,783 | -€115,289 | -8.0% |
| Financial debts | 170/4 | €1,440,072 | €1,324,783 | -€115,289 | -8.0% |
| Amounts payable within one year | 42/48 | €930,874 | €283,968 | -€646,905 | -69.5% |
| Current portion of amounts payable after more than one year | 42 | €148,065 | €115,289 | -€32,775 | -22.1% |
| Trade debts | 44 | €395,708 | €19,572 | -€376,136 | -95.1% |
| Suppliers | 440/4 | €395,708 | €19,572 | -€376,136 | -95.1% |
| Advances received on contracts in progress | 46 | €133,000 | - | -€133,000 | |
| Other amounts payable | 47/48 | €254,101 | €149,107 | -€104,993 | -41.3% |
| Accrued charges and deferred income | 492/3 | €6,446 | €6,680 | +€234 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,424 | €196,944 | +€45,520 | +30.1% |
| Other operating charges | 640/8 | €25,961 | €254,169 | +€228,208 | +879.0% |
| Gross operating margin | 9900 | €7,133 | €117,153 | +€110,020 | +1542.4% |
| Operating profit (loss) | 9901 | -€170,251 | -€333,960 | -€163,708 | -96.2% |
| Financial income | 75/76B | €17,815 | €1,505,993 | +€1.5m | +8353.6% |
| Recurring financial income | 75 | €17,815 | €5,008 | -€12,807 | -71.9% |
| Non-recurring financial income | 76B | - | €1,500,985 | +€1.5m | |
| Financial charges | 65/66B | €53,783 | €31,348 | -€22,435 | -41.7% |
| Recurring financial charges | 65 | €53,783 | €31,348 | -€22,435 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | -€206,219 | €1,140,685 | +€1.3m | |
| Transfer from deferred taxes | 780 | €37,415 | €37,415 | = | 0.0% |
| Income taxes | 67/77 | €194 | €197 | +€3 | +1.7% |
| Profit (loss) for the period | 9904 | -€168,999 | €1,177,903 | +€1.3m | |
| Transfer from tax-exempt reserves | 789 | €92,116 | €92,116 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,883 | €1,270,018 | +€1.3m |
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 5 October 2026 via checked.be.