FRAXINUS: 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.
What changed
FRAXINUS
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.2m
2024 · €2.7m+€513,417
Equity
€14.9m
2024 · €14.5m+€417,921
Cash
€2.5m
2024 · €2.4m+€71,785
Balance sheet total
€20.5m
2024 · €23.9m-€3.4m
Largest movements
Assets
- Receivables within one year -€3.5m
down €3.5m (-40.7%), from €8.6m to €5.1m
of which Trade receivables: -€3.4m
- Current investments -€991,678
down €991,678 (-12.5%), from €7.9m to €6.9m
- Stocks and contracts +€516,810
up €516,810 (+20.9%), from €2.5m to €3.0m
of which Contracts in progress: +€480,394
- Tangible fixed assets +€512,094
up €512,094 (+21.6%), from €2.4m to €2.9m
of which Land and buildings: +€456,047
Equity and liabilities
- Advances received -€1.7m
down €1.7m (-54.4%), from €3.1m to €1.4m
- Other debts -€1.5m
down €1.5m (-84.4%), from €1.8m to €285,429
- Trade debts -€674,831
down €674,831 (-17.7%), from €3.8m to €3.1m
- Reserves +€417,921
up €417,921 (+2.9%), from €14.4m to €14.8m
of which Distributable reserves: +€281,574
Income statement
- Turnover +€10.4m
up €10.4m (+38.9%), from €26.7m to €37.1m
- Services and other goods +€1.5m
up €1.5m (+20.9%), from €7.2m to €8.6m
- Goods and materials +€394,373
up €394,373 (+2.5%), from €15.9m to €16.3m
of which Purchases: +€205,997
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.
Result 2024
€2.7m
Turnover
+€10.4m
Other operating income
+€50,788
Goods and materials
-€394,373
Services and other goods
-€1.5m
Staff costs
-€274,067
Depreciation
-€114,679
Write-downs
-€93,136
Other operating charges
-€49,380
Other operating items
-€7.2m
Financial income
+€118,231
Financial charges
-€65,343
Taxes
-€359,839
Result 2025
€3.2m
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.
From operations
+€2.7m
Investment
+€95,123
Financing
-€2.8m
Cash 2024
€2.4m
From operations (derived)
+€2.7m
Net result for the year
+€3.2m
Depreciation
+€384,462
Stocks and contracts
-€516,810
Receivables within one year
+€3.5m
Deferred charges and accrued income
+€7,483
Trade debts
-€674,831
Tax, wage and social debts
+€69,962
Advances received
-€1.7m
Other debts
-€1.5m
Accrued charges and deferred income
+€10,822
Investment (derived)
+€95,123
Investment in fixed assets (net)
-€896,555
Current investments
+€991,678
Financing
-€2.8m
Contributions, distributions and other
-€2.8m
Cash 2025
€2.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,916,177 | €20,513,074 | -€3.4m | -14.2% |
| Fixed assets | 21/28 | €2,375,185 | €2,887,279 | +€512,094 | +21.6% |
| Tangible fixed assets | 22/27 | €2,375,185 | €2,887,279 | +€512,094 | +21.6% |
| Land and buildings | 22 | €1,092,329 | €1,548,376 | +€456,047 | +41.7% |
| Plant, machinery and equipment | 23 | €974,344 | €889,064 | -€85,280 | -8.8% |
| Furniture and vehicles | 24 | €308,512 | €449,838 | +€141,326 | +45.8% |
| Current assets | 29/58 | €21,540,993 | €17,625,795 | -€3.9m | -18.2% |
| Stocks and contracts in progress | 3 | €2,475,662 | €2,992,472 | +€516,810 | +20.9% |
| Stocks | 30/36 | €878,599 | €915,014 | +€36,416 | +4.1% |
| Goods purchased for resale | 34 | €878,599 | €915,014 | +€36,416 | +4.1% |
| Contracts in progress | 37 | €1,597,063 | €2,077,457 | +€480,394 | +30.1% |
| Amounts receivable within one year | 40/41 | €8,611,077 | €5,106,446 | -€3.5m | -40.7% |
| Trade receivables | 40 | €8,432,801 | €5,036,307 | -€3.4m | -40.3% |
| Other amounts receivable | 41 | €178,276 | €70,139 | -€108,137 | -60.7% |
| Current investments | 50/53 | €7,929,186 | €6,937,508 | -€991,678 | -12.5% |
| Other investments | 51/53 | €7,929,186 | €6,937,508 | -€991,678 | -12.5% |
| Cash at bank and in hand | 54/58 | €2,445,429 | €2,517,215 | +€71,785 | +2.9% |
| Deferred charges and accrued income | 490/1 | €79,638 | €72,156 | -€7,483 | -9.4% |
| Total equity and liabilities | 10/49 | €23,916,177 | €20,513,074 | -€3.4m | -14.2% |
| Equity | 10/15 | €14,483,092 | €14,901,012 | +€417,921 | +2.9% |
| Contributions | 10/11 | €76,000 | €76,000 | = | 0.0% |
| Capital | 10 | €76,000 | €76,000 | = | 0.0% |
| Issued capital | 100 | €76,000 | €76,000 | = | 0.0% |
| Reserves | 13 | €14,407,092 | €14,825,012 | +€417,921 | +2.9% |
| Non-distributable reserves | 130/1 | €7,600 | €7,600 | = | 0.0% |
| Legal reserve | 130 | €7,600 | €7,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €956,644 | €1,092,990 | +€136,347 | +14.3% |
| Distributable reserves | 133 | €13,442,848 | €13,724,422 | +€281,574 | +2.1% |
| Amounts payable | 17/49 | €9,433,086 | €5,612,062 | -€3.8m | -40.5% |
| Amounts payable within one year | 42/48 | €9,433,086 | €5,601,240 | -€3.8m | -40.6% |
| Trade debts | 44 | €3,805,500 | €3,130,669 | -€674,831 | -17.7% |
| Suppliers | 440/4 | €3,805,500 | €3,130,669 | -€674,831 | -17.7% |
| Advances received on contracts in progress | 46 | €3,088,283 | €1,408,912 | -€1.7m | -54.4% |
| Taxes, remuneration and social security | 45 | €706,267 | €776,229 | +€69,962 | +9.9% |
| Taxes | 450/3 | €329,909 | €371,961 | +€42,051 | +12.7% |
| Remuneration and social security | 454/9 | €376,357 | €404,268 | +€27,911 | +7.4% |
| Other amounts payable | 47/48 | €1,833,035 | €285,429 | -€1.5m | -84.4% |
| Accrued charges and deferred income | 492/3 | €0 | €10,822 | +€10,822 | |
| Operating income | 70/76A | €28,653,456 | €31,899,452 | +€3.2m | +11.3% |
| Turnover | 70 | €26,729,895 | €37,126,408 | +€10.4m | +38.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,848,587 | -€5,346,518 | -€7.2m | |
| Other operating income | 74 | €68,774 | €119,562 | +€50,788 | +73.8% |
| Non-recurring operating income | 76A | €6,200 | €0 | -€6,200 | -100.0% |
| Operating charges | 60/66A | €25,557,230 | €27,982,858 | +€2.4m | +9.5% |
| Goods for resale, raw materials and consumables | 60 | €15,932,252 | €16,326,625 | +€394,373 | +2.5% |
| Purchases | 600/8 | €16,157,044 | €16,363,041 | +€205,997 | +1.3% |
| Change in stocks: decrease (increase) | 609 | -€224,792 | -€36,416 | +€188,376 | +83.8% |
| Services and other goods | 61 | €7,152,960 | €8,646,302 | +€1.5m | +20.9% |
| Remuneration, social security and pensions | 62 | €2,169,675 | €2,443,743 | +€274,067 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €269,782 | €384,462 | +€114,679 | +42.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €93,136 | +€93,136 | |
| Other operating charges | 640/8 | €24,662 | €74,042 | +€49,380 | +200.2% |
| Non-recurring operating charges | 66A | €7,898 | €14,549 | +€6,650 | +84.2% |
| Operating profit (loss) | 9901 | €3,096,226 | €3,916,594 | +€820,368 | +26.5% |
| Financial income | 75/76B | €279,363 | €397,593 | +€118,231 | +42.3% |
| Recurring financial income | 75 | €279,363 | €397,593 | +€118,231 | +42.3% |
| Income from current assets | 751 | €130,202 | €260,122 | +€129,921 | +99.8% |
| Other financial income | 752/9 | €149,161 | €137,471 | -€11,690 | -7.8% |
| Financial charges | 65/66B | -€3,669 | €61,674 | +€65,343 | |
| Recurring financial charges | 65 | -€3,669 | €61,674 | +€65,343 | |
| Debt charges | 650 | €10,486 | €12,007 | +€1,521 | +14.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€47,159 | €17,533 | +€64,692 | |
| Other financial charges | 652/9 | €33,004 | €32,134 | -€870 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €3,379,258 | €4,252,513 | +€873,256 | +25.8% |
| Income taxes | 67/77 | €724,753 | €1,084,592 | +€359,839 | +49.6% |
| Taxes | 670/3 | €724,753 | €1,084,592 | +€359,839 | +49.6% |
| Profit (loss) for the period | 9904 | €2,654,504 | €3,167,921 | +€513,417 | +19.3% |
| Transfer from tax-exempt reserves | 789 | €287,538 | €705,653 | +€418,115 | +145.4% |
| Transfer to tax-exempt reserves | 689 | - | €842,000 | +€842,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,942,043 | €3,031,574 | +€89,532 | +3.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.