FRAX: 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.
FRAX
Largest movements
- Tangible fixed assets +€203,908
up €203,908 (+31.7%), from €642,596 to €846,504
of which Land and buildings: +€200,555
- Receivables within one year +€55,584
up €55,584 (+67.3%), from €82,555 to €138,139
of which Trade receivables: +€55,458
- Debts after one year +€226,501
up €226,501 (+52.2%), from €434,236 to €660,737
- Current portion of long-term debt +€29,184
up €29,184 (+46.4%), from €62,885 to €92,069
- Reserves +€11,000
up €11,000 (+9.9%), from €111,000 to €122,000
- Financial charges +€21,512
up €21,512 (+203.8%), from €10,557 to €32,069
- Depreciation +€17,717
up €17,717 (+43.6%), from €40,639 to €58,356
- Gross operating margin -€10,606
down €10,606 (-9.3%), from €114,468 to €103,862
- Taxes -€1,958
down €1,958 (-100.0%), from €1,958 to €0
- Other operating charges -€1,833
down €1,833 (-38.6%), from €4,749 to €2,915
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 | €765,401 | €1,029,223 | +€263,822 | +34.5% |
| Fixed assets | 21/28 | €642,596 | €846,504 | +€203,908 | +31.7% |
| Tangible fixed assets | 22/27 | €642,596 | €846,504 | +€203,908 | +31.7% |
| Land and buildings | 22 | €639,860 | €840,416 | +€200,555 | +31.3% |
| Plant, machinery and equipment | 23 | €2,735 | €6,088 | +€3,353 | +122.6% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €122,806 | €182,719 | +€59,914 | +48.8% |
| Amounts receivable within one year | 40/41 | €82,555 | €138,139 | +€55,584 | +67.3% |
| Trade receivables | 40 | €78,929 | €134,387 | +€55,458 | +70.3% |
| Other amounts receivable | 41 | €3,626 | €3,752 | +€126 | +3.5% |
| Cash at bank and in hand | 54/58 | €21,035 | €25,008 | +€3,973 | +18.9% |
| Deferred charges and accrued income | 490/1 | €19,215 | €19,572 | +€356 | +1.9% |
| Total equity and liabilities | 10/49 | €765,401 | €1,029,223 | +€263,822 | +34.5% |
| Equity | 10/15 | €130,798 | €141,651 | +€10,853 | +8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,000 | €122,000 | +€11,000 | +9.9% |
| Distributable reserves | 133 | €111,000 | €122,000 | +€11,000 | +9.9% |
| Profit (loss) carried forward | 14 | €1,198 | €1,051 | -€147 | -12.3% |
| Amounts payable | 17/49 | €634,603 | €887,572 | +€252,969 | +39.9% |
| Amounts payable after more than one year | 17 | €434,236 | €660,737 | +€226,501 | +52.2% |
| Financial debts | 170/4 | €434,236 | €660,737 | +€226,501 | +52.2% |
| Amounts payable within one year | 42/48 | €200,367 | €226,835 | +€26,468 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €62,885 | €92,069 | +€29,184 | +46.4% |
| Trade debts | 44 | €41,606 | €40,066 | -€1,540 | -3.7% |
| Suppliers | 440/4 | €41,606 | €40,066 | -€1,540 | -3.7% |
| Taxes, remuneration and social security | 45 | €20,880 | €19,414 | -€1,466 | -7.0% |
| Taxes | 450/3 | €20,880 | €19,414 | -€1,466 | -7.0% |
| Other amounts payable | 47/48 | €74,996 | €75,286 | +€290 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,639 | €58,356 | +€17,717 | +43.6% |
| Other operating charges | 640/8 | €4,749 | €2,915 | -€1,833 | -38.6% |
| Gross operating margin | 9900 | €114,468 | €103,862 | -€10,606 | -9.3% |
| Operating profit (loss) | 9901 | €69,080 | €42,590 | -€26,490 | -38.3% |
| Financial income | 75/76B | - | €332 | +€332 | |
| Recurring financial income | 75 | - | €332 | +€332 | |
| Financial charges | 65/66B | €10,557 | €32,069 | +€21,512 | +203.8% |
| Recurring financial charges | 65 | €10,557 | €32,069 | +€21,512 | +203.8% |
| Profit (loss) for the period before taxes | 9903 | €58,523 | €10,853 | -€47,670 | -81.5% |
| Income taxes | 67/77 | €1,958 | €0 | -€1,958 | -100.0% |
| Profit (loss) for the period | 9904 | €56,565 | €10,853 | -€45,712 | -80.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,565 | €10,853 | -€45,712 | -80.8% |
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 11 October 2026 via checked.be.