FRENAY MAINTENANCE: 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.
FRENAY MAINTENANCE
Largest movements
- Receivables within one year +€107,648
up €107,648 (+44.3%), from €242,767 to €350,414
of which Trade receivables: +€67,649
- Cash +€22,650
up €22,650 (+28.2%), from €80,369 to €103,019
mainly Net result for the year (+€111,178) and Depreciation (+€45,648)
- Reserves +€90,000
up €90,000 (+84.2%), from €106,855 to €196,855
- Current portion of long-term debt +€14,575
up €14,575 (+63.9%), from €22,800 to €37,375
- Debts after one year +€9,484
up €9,484 (+22.3%), from €42,547 to €52,031
- Other debts +€7,382
up €7,382 (+27.4%), from €26,898 to €34,280
- Staff costs -€87,915
down €87,915 (-22.1%), from €397,864 to €309,949
- Taxes +€14,542
up €14,542 (+72.2%), from €20,135 to €34,678
- Gross operating margin -€6,964
down €6,964 (-1.3%), from €522,980 to €516,016
- Other operating charges -€5,264
down €5,264 (-65.5%), from €8,031 to €2,767
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 | €412,279 | €540,952 | +€128,673 | +31.2% |
| Fixed assets | 21/28 | €84,510 | €79,303 | -€5,207 | -6.2% |
| Intangible fixed assets | 21 | €1,117 | €635 | -€482 | -43.2% |
| Tangible fixed assets | 22/27 | €76,576 | €71,851 | -€4,725 | -6.2% |
| Plant, machinery and equipment | 23 | €24,231 | €15,164 | -€9,067 | -37.4% |
| Furniture and vehicles | 24 | €30,596 | €25,197 | -€5,399 | -17.6% |
| Leasing and similar rights | 25 | €21,749 | €31,490 | +€9,741 | +44.8% |
| Financial fixed assets | 28 | €6,818 | €6,818 | = | 0.0% |
| Current assets | 29/58 | €327,769 | €461,649 | +€133,880 | +40.8% |
| Amounts receivable within one year | 40/41 | €242,767 | €350,414 | +€107,648 | +44.3% |
| Trade receivables | 40 | €211,454 | €279,103 | +€67,649 | +32.0% |
| Other amounts receivable | 41 | €31,312 | €71,311 | +€39,999 | +127.7% |
| Cash at bank and in hand | 54/58 | €80,369 | €103,019 | +€22,650 | +28.2% |
| Deferred charges and accrued income | 490/1 | €4,633 | €8,215 | +€3,582 | +77.3% |
| Total equity and liabilities | 10/49 | €412,279 | €540,952 | +€128,673 | +31.2% |
| Equity | 10/15 | €125,659 | €219,190 | +€93,531 | +74.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €106,855 | €196,855 | +€90,000 | +84.2% |
| Distributable reserves | 133 | €106,855 | €196,855 | +€90,000 | +84.2% |
| Profit (loss) carried forward | 14 | €254 | €3,785 | +€3,531 | +1391.3% |
| Amounts payable | 17/49 | €286,620 | €321,762 | +€35,142 | +12.3% |
| Amounts payable after more than one year | 17 | €42,547 | €52,031 | +€9,484 | +22.3% |
| Financial debts | 170/4 | €42,547 | €52,031 | +€9,484 | +22.3% |
| Amounts payable within one year | 42/48 | €244,055 | €269,732 | +€25,676 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €22,800 | €37,375 | +€14,575 | +63.9% |
| Financial debts | 43 | €215 | €0 | -€215 | -100.0% |
| Credit institutions | 430/8 | €215 | €0 | -€215 | -100.0% |
| Trade debts | 44 | €115,770 | €117,015 | +€1,246 | +1.1% |
| Suppliers | 440/4 | €115,770 | €117,015 | +€1,246 | +1.1% |
| Taxes, remuneration and social security | 45 | €78,373 | €81,061 | +€2,688 | +3.4% |
| Taxes | 450/3 | €19,145 | €16,799 | -€2,346 | -12.3% |
| Remuneration and social security | 454/9 | €59,228 | €64,262 | +€5,034 | +8.5% |
| Other amounts payable | 47/48 | €26,898 | €34,280 | +€7,382 | +27.4% |
| Accrued charges and deferred income | 492/3 | €18 | €0 | -€18 | -100.0% |
| Non-recurring operating income | 76A | €3,921 | €0 | -€3,921 | -100.0% |
| Remuneration, social security and pensions | 62 | €397,864 | €309,949 | -€87,915 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,720 | €45,648 | +€3,927 | +9.4% |
| Other operating charges | 640/8 | €8,031 | €2,767 | -€5,264 | -65.5% |
| Non-recurring operating charges | 66A | - | €2,238 | +€2,238 | |
| Gross operating margin | 9900 | €522,980 | €516,016 | -€6,964 | -1.3% |
| Operating profit (loss) | 9901 | €75,365 | €155,415 | +€80,050 | +106.2% |
| Financial income | 75/76B | €7 | €146 | +€139 | +2021.2% |
| Recurring financial income | 75 | €7 | €146 | +€139 | +2021.2% |
| Financial charges | 65/66B | €11,688 | €9,705 | -€1,983 | -17.0% |
| Recurring financial charges | 65 | €11,688 | €9,705 | -€1,983 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €63,684 | €145,856 | +€82,172 | +129.0% |
| Income taxes | 67/77 | €20,135 | €34,678 | +€14,542 | +72.2% |
| Profit (loss) for the period | 9904 | €43,549 | €111,178 | +€67,629 | +155.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,549 | €111,178 | +€67,629 | +155.3% |
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 12 October 2026 via checked.be.