FRENATH: 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.
FRENATH
Largest movements
- Cash +€14,206
up €14,206 (+26.1%), from €54,435 to €68,641
mainly Net result for the year (+€11,053) and Trade debts (+€10,184)
- Receivables within one year +€6,392
up €6,392 (+97.2%), from €6,576 to €12,968
of which Trade receivables: +€4,863
- Tangible fixed assets -€1,727
down €1,727 (-65.5%), from €2,635 to €908
of which Furniture and vehicles: -€939
- Stocks and contracts +€1,645
up €1,645 (+51.0%), from €3,222 to €4,866
- Profit (loss) carried forward +€11,053
up €11,053 (+50.5%), from €21,894 to €32,946
- Trade debts +€10,184
up €10,184 (+191%), from €5,333 to €15,517
- Tax, wage and social debts -€6,085
down €6,085 (-44.4%), from €13,705 to €7,621
of which Taxes: -€5,540
- Other debts +€4,133
up €4,133 (+47.2%), from €8,753 to €12,887
- Depreciation -€3,876
down €3,876 (-63.5%), from €6,103 to €2,227
- Other operating charges -€1,455
down €1,455 (-52.5%), from €2,770 to €1,316
- Staff costs +€1,369
up €1,369 (+3.3%), from €41,187 to €42,556
- Gross operating margin +€1,281
up €1,281 (+2.0%), from €63,928 to €65,209
- Taxes +€875
up €875 (+20.3%), from €4,301 to €5,175
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 | €72,159 | €91,933 | +€19,774 | +27.4% |
| Fixed assets | 21/28 | €7,524 | €5,297 | -€2,227 | -29.6% |
| Intangible fixed assets | 21 | €500 | €0 | -€500 | -100% |
| Tangible fixed assets | 22/27 | €2,635 | €908 | -€1,727 | -65.5% |
| Plant, machinery and equipment | 23 | €1,280 | €492 | -€788 | -61.6% |
| Furniture and vehicles | 24 | €1,355 | €416 | -€939 | -69.3% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €4,389 | €4,389 | = | 0.0% |
| Current assets | 29/58 | €64,635 | €86,636 | +€22,001 | +34.0% |
| Stocks and contracts in progress | 3 | €3,222 | €4,866 | +€1,645 | +51.0% |
| Stocks | 30/36 | €3,222 | €4,866 | +€1,645 | +51.0% |
| Amounts receivable within one year | 40/41 | €6,576 | €12,968 | +€6,392 | +97.2% |
| Trade receivables | 40 | €5,302 | €10,165 | +€4,863 | +91.7% |
| Other amounts receivable | 41 | €1,274 | €2,803 | +€1,529 | +120% |
| Cash at bank and in hand | 54/58 | €54,435 | €68,641 | +€14,206 | +26.1% |
| Deferred charges and accrued income | 490/1 | €403 | €161 | -€242 | -60.0% |
| Total equity and liabilities | 10/49 | €72,159 | €91,933 | +€19,774 | +27.4% |
| Equity | 10/15 | €42,294 | €53,346 | +€11,053 | +26.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,894 | €32,946 | +€11,053 | +50.5% |
| Amounts payable | 17/49 | €29,865 | €38,587 | +€8,722 | +29.2% |
| Amounts payable within one year | 42/48 | €27,792 | €36,024 | +€8,233 | +29.6% |
| Trade debts | 44 | €5,333 | €15,517 | +€10,184 | +191% |
| Suppliers | 440/4 | €5,333 | €15,517 | +€10,184 | +191% |
| Taxes, remuneration and social security | 45 | €13,705 | €7,621 | -€6,085 | -44.4% |
| Taxes | 450/3 | €11,015 | €5,476 | -€5,540 | -50.3% |
| Remuneration and social security | 454/9 | €2,690 | €2,145 | -€545 | -20.3% |
| Other amounts payable | 47/48 | €8,753 | €12,887 | +€4,133 | +47.2% |
| Accrued charges and deferred income | 492/3 | €2,073 | €2,562 | +€489 | +23.6% |
| Remuneration, social security and pensions | 62 | €41,187 | €42,556 | +€1,369 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,103 | €2,227 | -€3,876 | -63.5% |
| Other operating charges | 640/8 | €2,770 | €1,316 | -€1,455 | -52.5% |
| Non-recurring operating charges | 66A | - | €2,387 | +€2,387 | |
| Gross operating margin | 9900 | €63,928 | €65,209 | +€1,281 | +2.0% |
| Operating profit (loss) | 9901 | €13,867 | €16,724 | +€2,857 | +20.6% |
| Financial income | 75/76B | €1 | €0 | -€1 | -92.2% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -92.2% |
| Financial charges | 65/66B | €506 | €497 | -€10 | -1.9% |
| Recurring financial charges | 65 | €506 | €497 | -€10 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €13,362 | €16,228 | +€2,865 | +21.4% |
| Income taxes | 67/77 | €4,301 | €5,175 | +€875 | +20.3% |
| Profit (loss) for the period | 9904 | €9,062 | €11,053 | +€1,991 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,062 | €11,053 | +€1,991 | +22.0% |
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 18 October 2026 via checked.be.