FRAVERWEST: 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.
FRAVERWEST
Largest movements
- Tangible fixed assets -€47,487
down €47,487 (-2.0%), from €2.3m to €2.3m
of which Land and buildings: -€45,802
- Receivables within one year +€37,621
up €37,621 (+28.2%), from €133,377 to €170,998
of which Trade receivables: +€35,201
- Other debts -€61,768
down €61,768 (-86.8%), from €71,200 to €9,433
- Reserves +€56,600
up €56,600 (+17.3%), from €326,600 to €383,200
of which Distributable reserves: +€56,600
- Debts after one year +€37,521
up €37,521 (+2.7%), from €1.4m to €1.4m
of which Other amounts payable: +€49,521
- Financial charges -€10,953
down €10,953 (-12.6%), from €86,741 to €75,788
- Depreciation +€9,674
up €9,674 (+8.3%), from €116,124 to €125,798
- Taxes -€7,019
down €7,019 (-40.4%), from €17,385 to €10,366
- Gross operating margin -€3,430
down €3,430 (-1.2%), from €287,120 to €283,690
- Other operating charges -€2,939
down €2,939 (-16.3%), from €18,046 to €15,107
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 | €2,481,178 | €2,480,401 | -€777 | 0.0% |
| Fixed assets | 21/28 | €2,343,483 | €2,295,996 | -€47,487 | -2.0% |
| Tangible fixed assets | 22/27 | €2,343,483 | €2,295,996 | -€47,487 | -2.0% |
| Land and buildings | 22 | €2,337,842 | €2,292,040 | -€45,802 | -2.0% |
| Plant, machinery and equipment | 23 | €5,641 | €3,956 | -€1,685 | -29.9% |
| Current assets | 29/58 | €137,695 | €184,405 | +€46,710 | +33.9% |
| Amounts receivable within one year | 40/41 | €133,377 | €170,998 | +€37,621 | +28.2% |
| Trade receivables | 40 | €129,246 | €164,447 | +€35,201 | +27.2% |
| Other amounts receivable | 41 | €4,131 | €6,551 | +€2,420 | +58.6% |
| Cash at bank and in hand | 54/58 | €2,971 | €10,177 | +€7,206 | +243% |
| Deferred charges and accrued income | 490/1 | €1,347 | €3,230 | +€1,884 | +140% |
| Total equity and liabilities | 10/49 | €2,481,178 | €2,480,401 | -€777 | 0.0% |
| Equity | 10/15 | €827,712 | €884,384 | +€56,672 | +6.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €326,600 | €383,200 | +€56,600 | +17.3% |
| Non-distributable reserves | 130/1 | €20,600 | €20,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,600 | €20,600 | = | 0.0% |
| Distributable reserves | 133 | €306,000 | €362,600 | +€56,600 | +18.5% |
| Profit (loss) carried forward | 14 | €1,112 | €1,184 | +€72 | +6.5% |
| Amounts payable | 17/49 | €1,653,466 | €1,596,017 | -€57,449 | -3.5% |
| Amounts payable after more than one year | 17 | €1,401,123 | €1,438,644 | +€37,521 | +2.7% |
| Financial debts | 170/4 | €12,000 | - | -€12,000 | |
| Other amounts payable | 178/9 | €1,389,123 | €1,438,644 | +€49,521 | +3.6% |
| Amounts payable within one year | 42/48 | €169,926 | €81,422 | -€88,504 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €16,000 | €12,000 | -€4,000 | -25.0% |
| Trade debts | 44 | €41,904 | €33,376 | -€8,528 | -20.4% |
| Suppliers | 440/4 | €41,904 | €33,376 | -€8,528 | -20.4% |
| Taxes, remuneration and social security | 45 | €40,822 | €26,614 | -€14,208 | -34.8% |
| Taxes | 450/3 | €40,822 | €26,614 | -€14,208 | -34.8% |
| Other amounts payable | 47/48 | €71,200 | €9,433 | -€61,768 | -86.8% |
| Accrued charges and deferred income | 492/3 | €82,416 | €75,950 | -€6,466 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,124 | €125,798 | +€9,674 | +8.3% |
| Other operating charges | 640/8 | €18,046 | €15,107 | -€2,939 | -16.3% |
| Gross operating margin | 9900 | €287,120 | €283,690 | -€3,430 | -1.2% |
| Operating profit (loss) | 9901 | €152,950 | €142,785 | -€10,164 | -6.6% |
| Financial income | 75/76B | €14 | €41 | +€27 | +189% |
| Recurring financial income | 75 | €14 | €41 | +€27 | +189% |
| Financial charges | 65/66B | €86,741 | €75,788 | -€10,953 | -12.6% |
| Recurring financial charges | 65 | €86,741 | €75,788 | -€10,953 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €66,223 | €67,038 | +€816 | +1.2% |
| Income taxes | 67/77 | €17,385 | €10,366 | -€7,019 | -40.4% |
| Profit (loss) for the period | 9904 | €48,838 | €56,672 | +€7,834 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,838 | €56,672 | +€7,834 | +16.0% |
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.