FRAWIK: 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.
FRAWIK
Largest movements
- Cash +€149,024
up €149,024 (+2052.4%), from €7,261 to €156,285
mainly Net result for the year (+€85,261) and Depreciation (+€48,363)
- Tangible fixed assets -€79,497
down €79,497 (-18.5%), from €430,695 to €351,197
of which Assets under construction and advance payments: -€75,000
- Receivables within one year +€8,038
up €8,038 (+440.8%), from €1,824 to €9,862
of which Trade receivables: +€9,403
- Profit (loss) carried forward +€85,261
up €85,261 (+47.8%), from -€178,504 to -€93,243
- Debts after one year -€24,804
down €24,804 (-7.0%), from €354,646 to €329,841
- Other debts +€16,039
up €16,039 (+101.5%), from €15,807 to €31,846
- Gross operating margin +€172,134
up €172,134 (+305.0%), from €56,442 to €228,576
- Staff costs +€14,119
up €14,119 (+20.3%), from €69,411 to €83,529
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 | €459,827 | €538,447 | +€78,620 | +17.1% |
| Fixed assets | 21/28 | €448,195 | €368,697 | -€79,497 | -17.7% |
| Tangible fixed assets | 22/27 | €430,695 | €351,197 | -€79,497 | -18.5% |
| Plant, machinery and equipment | 23 | €37,738 | €29,136 | -€8,602 | -22.8% |
| Furniture and vehicles | 24 | €29,505 | €7,506 | -€21,998 | -74.6% |
| Other tangible fixed assets | 26 | €256,762 | €282,865 | +€26,103 | +10.2% |
| Assets under construction and advance payments | 27 | €106,690 | €31,690 | -€75,000 | -70.3% |
| Financial fixed assets | 28 | €17,500 | €17,500 | = | 0.0% |
| Current assets | 29/58 | €11,633 | €169,750 | +€158,118 | +1359.2% |
| Stocks and contracts in progress | 3 | €830 | €1,897 | +€1,067 | +128.7% |
| Stocks | 30/36 | €830 | €1,897 | +€1,067 | +128.7% |
| Amounts receivable within one year | 40/41 | €1,824 | €9,862 | +€8,038 | +440.8% |
| Trade receivables | 40 | €459 | €9,862 | +€9,403 | +2049.2% |
| Other amounts receivable | 41 | €1,365 | €0 | -€1,365 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,261 | €156,285 | +€149,024 | +2052.4% |
| Deferred charges and accrued income | 490/1 | €1,718 | €1,707 | -€12 | -0.7% |
| Total equity and liabilities | 10/49 | €459,827 | €538,447 | +€78,620 | +17.1% |
| Equity | 10/15 | €46,496 | €131,757 | +€85,261 | +183.4% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,504 | -€93,243 | +€85,261 | +47.8% |
| Amounts payable | 17/49 | €413,332 | €406,691 | -€6,641 | -1.6% |
| Amounts payable after more than one year | 17 | €354,646 | €329,841 | -€24,804 | -7.0% |
| Financial debts | 170/4 | €354,646 | €329,841 | -€24,804 | -7.0% |
| Amounts payable within one year | 42/48 | €58,686 | €76,849 | +€18,163 | +30.9% |
| Current portion of amounts payable after more than one year | 42 | €42,382 | €42,509 | +€127 | +0.3% |
| Trade debts | 44 | €303 | €1,462 | +€1,159 | +383.1% |
| Suppliers | 440/4 | €303 | €1,462 | +€1,159 | +383.1% |
| Taxes, remuneration and social security | 45 | €194 | €1,032 | +€838 | +431.4% |
| Taxes | 450/3 | €194 | €1,032 | +€838 | +431.4% |
| Other amounts payable | 47/48 | €15,807 | €31,846 | +€16,039 | +101.5% |
| Remuneration, social security and pensions | 62 | €69,411 | €83,529 | +€14,119 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,616 | €48,363 | -€1,253 | -2.5% |
| Other operating charges | 640/8 | €2,142 | €2,769 | +€627 | +29.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €56,442 | €228,576 | +€172,134 | +305.0% |
| Operating profit (loss) | 9901 | -€64,727 | €93,915 | +€158,642 | |
| Financial income | 75/76B | €864 | €399 | -€465 | -53.9% |
| Recurring financial income | 75 | €864 | €399 | -€465 | -53.9% |
| Financial charges | 65/66B | €10,065 | €8,862 | -€1,203 | -12.0% |
| Recurring financial charges | 65 | €10,065 | €8,862 | -€1,203 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | -€73,929 | €85,451 | +€159,380 | |
| Income taxes | 67/77 | €194 | €190 | -€4 | -2.1% |
| Profit (loss) for the period | 9904 | -€74,123 | €85,261 | +€159,384 | |
| Profit (loss) for the period to be appropriated | 9905 | -€74,123 | €85,261 | +€159,384 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.