FRAVERMIL: 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.
FRAVERMIL
Largest movements
- Tangible fixed assets -€49,676
down €49,676 (-9.2%), from €540,767 to €491,092
- Reserves -€25,711
down €25,711 (-5.3%), from €483,358 to €457,647
of which Distributable reserves: -€19,550
- Gross operating margin -€178,541
down €178,541 (-92.6%), from €192,821 to €14,280
- Taxes -€32,678
no longer reported in 2025 (was €32,678)
- Financial income -€3,061
down €3,061 (-19.1%), from €16,011 to €12,950
- Other operating charges -€2,708
down €2,708 (-39.9%), from €6,791 to €4,084
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.
Derived cash bridge
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 | €1,200,696 | €1,160,405 | -€40,291 | -3.4% |
| Fixed assets | 21/28 | €540,767 | €491,092 | -€49,676 | -9.2% |
| Tangible fixed assets | 22/27 | €540,767 | €491,092 | -€49,676 | -9.2% |
| Land and buildings | 22 | €540,767 | €491,092 | -€49,676 | -9.2% |
| Current assets | 29/58 | €659,928 | €669,313 | +€9,385 | +1.4% |
| Amounts receivable within one year | 40/41 | - | €3,885 | +€3,885 | |
| Other amounts receivable | 41 | - | €3,885 | +€3,885 | |
| Current investments | 50/53 | €656,539 | €661,506 | +€4,968 | +0.8% |
| Cash at bank and in hand | 54/58 | €2,247 | €3,346 | +€1,099 | +48.9% |
| Deferred charges and accrued income | 490/1 | €1,143 | €575 | -€567 | -49.7% |
| Total equity and liabilities | 10/49 | €1,200,696 | €1,160,405 | -€40,291 | -3.4% |
| Equity | 10/15 | €830,358 | €804,647 | -€25,711 | -3.1% |
| Contributions | 10/11 | €347,000 | €347,000 | = | 0.0% |
| Reserves | 13 | €483,358 | €457,647 | -€25,711 | -5.3% |
| Tax-exempt reserves | 132 | €55,449 | €49,288 | -€6,161 | -11.1% |
| Distributable reserves | 133 | €427,909 | €408,359 | -€19,550 | -4.6% |
| Provisions and deferred taxes | 16 | €18,483 | €16,429 | -€2,054 | -11.1% |
| Deferred taxes | 168 | €18,483 | €16,429 | -€2,054 | -11.1% |
| Amounts payable | 17/49 | €351,854 | €339,328 | -€12,526 | -3.6% |
| Amounts payable within one year | 42/48 | €349,674 | €338,281 | -€11,393 | -3.3% |
| Trade debts | 44 | €3,868 | €2,415 | -€1,453 | -37.6% |
| Suppliers | 440/4 | €3,868 | €2,415 | -€1,453 | -37.6% |
| Taxes, remuneration and social security | 45 | €986 | - | -€986 | |
| Taxes | 450/3 | €986 | - | -€986 | |
| Other amounts payable | 47/48 | €344,821 | €335,866 | -€8,955 | -2.6% |
| Accrued charges and deferred income | 492/3 | €2,180 | €1,047 | -€1,133 | -52.0% |
| Non-recurring operating income | 76A | €198,038 | - | -€198,038 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,890 | €49,676 | -€1,214 | -2.4% |
| Other operating charges | 640/8 | €6,791 | €4,084 | -€2,708 | -39.9% |
| Gross operating margin | 9900 | €192,821 | €14,280 | -€178,541 | -92.6% |
| Operating profit (loss) | 9901 | €135,140 | -€39,479 | -€174,619 | |
| Financial income | 75/76B | €16,011 | €12,950 | -€3,061 | -19.1% |
| Recurring financial income | 75 | €16,011 | €12,950 | -€3,061 | -19.1% |
| Financial charges | 65/66B | €1,127 | €1,237 | +€110 | +9.7% |
| Recurring financial charges | 65 | €1,127 | €1,237 | +€110 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €150,024 | -€27,765 | -€177,789 | |
| Transfer from deferred taxes | 780 | €2,054 | €2,054 | = | 0.0% |
| Income taxes | 67/77 | €32,678 | - | -€32,678 | |
| Profit (loss) for the period | 9904 | €119,400 | -€25,711 | -€145,112 | |
| Transfer from tax-exempt reserves | 789 | €6,161 | €6,161 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €125,562 | -€19,550 | -€145,112 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.