FRAXX: 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.
FRAXX
Largest movements
- Cash -€35,479
down €35,479 (-66.5%), from €53,338 to €17,859
mainly Contributions, distributions and other (-€181,176) and Debts after one year (-€7,088)
- Current investments +€7,000
up €7,000 (+20.0%), from €35,000 to €42,000
- Tangible fixed assets -€6,657
down €6,657 (-4.1%), from €163,944 to €157,287
of which Land and buildings: -€7,650
- Reserves -€90,786
down €90,786 (-49.9%), from €181,845 to €91,059
- Other debts +€54,001
up €54,001 (+1,628%), from €3,317 to €57,318
- Debts after one year -€7,088
down €7,088 (-6.5%), from €109,332 to €102,244
of which Financial debts: -€7,088
- Tax, wage and social debts +€5,182
up €5,182 (+50.4%), from €10,277 to €15,459
of which Taxes: +€5,182
- Gross operating margin +€16,235
up €16,235 (+14.2%), from €114,088 to €130,323
- Taxes +€3,904
up €3,904 (+19.9%), from €19,587 to €23,490
- Financial income +€3,612
up €3,612, from €0 to €3,612
- Depreciation +€1,355
up €1,355 (+11.9%), from €11,436 to €12,792
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 | €315,191 | €277,519 | -€37,672 | -12.0% |
| Fixed assets | 21/28 | €163,944 | €157,287 | -€6,657 | -4.1% |
| Tangible fixed assets | 22/27 | €163,944 | €157,287 | -€6,657 | -4.1% |
| Land and buildings | 22 | €156,440 | €148,790 | -€7,650 | -4.9% |
| Plant, machinery and equipment | 23 | €1,511 | €5,690 | +€4,179 | +277% |
| Furniture and vehicles | 24 | €5,994 | €2,808 | -€3,186 | -53.2% |
| Current assets | 29/58 | €151,246 | €120,232 | -€31,015 | -20.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €54,372 | €53,874 | -€498 | -0.9% |
| Trade receivables | 40 | €42,350 | €48,461 | +€6,111 | +14.4% |
| Other amounts receivable | 41 | €12,022 | €5,413 | -€6,609 | -55.0% |
| Current investments | 50/53 | €35,000 | €42,000 | +€7,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €53,338 | €17,859 | -€35,479 | -66.5% |
| Deferred charges and accrued income | 490/1 | €8,536 | €6,499 | -€2,037 | -23.9% |
| Total equity and liabilities | 10/49 | €315,191 | €277,519 | -€37,672 | -12.0% |
| Equity | 10/15 | €184,345 | €93,559 | -€90,786 | -49.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €181,845 | €91,059 | -€90,786 | -49.9% |
| Distributable reserves | 133 | €181,845 | €91,059 | -€90,786 | -49.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €130,846 | €183,960 | +€53,114 | +40.6% |
| Amounts payable after more than one year | 17 | €109,332 | €102,244 | -€7,088 | -6.5% |
| Financial debts | 170/4 | €106,782 | €99,694 | -€7,088 | -6.6% |
| Other amounts payable | 178/9 | €2,550 | €2,550 | = | 0.0% |
| Amounts payable within one year | 42/48 | €21,515 | €80,646 | +€59,132 | +275% |
| Current portion of amounts payable after more than one year | 42 | €6,841 | €7,088 | +€247 | +3.6% |
| Trade debts | 44 | €1,080 | €782 | -€298 | -27.6% |
| Suppliers | 440/4 | €1,080 | €782 | -€298 | -27.6% |
| Taxes, remuneration and social security | 45 | €10,277 | €15,459 | +€5,182 | +50.4% |
| Taxes | 450/3 | €10,277 | €15,459 | +€5,182 | +50.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,317 | €57,318 | +€54,001 | +1,628% |
| Accrued charges and deferred income | 492/3 | - | €1,070 | +€1,070 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,436 | €12,792 | +€1,355 | +11.9% |
| Other operating charges | 640/8 | €1,452 | €1,476 | +€24 | +1.7% |
| Gross operating margin | 9900 | €114,088 | €130,323 | +€16,235 | +14.2% |
| Operating profit (loss) | 9901 | €101,199 | €116,054 | +€14,855 | +14.7% |
| Financial income | 75/76B | €0 | €3,612 | +€3,612 | |
| Recurring financial income | 75 | €0 | €3,612 | +€3,612 | |
| Financial charges | 65/66B | €6,337 | €5,785 | -€552 | -8.7% |
| Recurring financial charges | 65 | €6,337 | €5,785 | -€552 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €94,862 | €113,881 | +€19,019 | +20.0% |
| Income taxes | 67/77 | €19,587 | €23,490 | +€3,904 | +19.9% |
| Profit (loss) for the period | 9904 | €75,276 | €90,391 | +€15,115 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,276 | €90,391 | +€15,115 | +20.1% |
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 15 October 2026 via checked.be.