FRENDZ: 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.
FRENDZ
Largest movements
- Receivables within one year -€186,077
down €186,077 (-62.7%), from €296,608 to €110,531
of which Trade receivables: -€180,423
- Intangible fixed assets -€15,263
down €15,263 (-36.3%), from €42,046 to €26,783
- Stocks and contracts -€6,158
down €6,158 (-4.2%), from €146,951 to €140,794
- Trade debts -€111,381
down €111,381 (-79.0%), from €141,000 to €29,619
- Profit (loss) carried forward -€82,993
down €82,993 (-24.2%), from €343,034 to €260,041
- Advances received -€16,573
down €16,573 (-89.6%), from €18,500 to €1,927
- Gross operating margin -€69,269
down €69,269 (-50.5%), from €137,106 to €67,837
- Staff costs +€15,574
up €15,574 (+14.8%), from €105,182 to €120,756
- Depreciation +€11,519
up €11,519 (+153.5%), from €7,502 to €19,022
- Write-downs +€4,035
new in 2025: €4,035
- Financial charges -€3,900
down €3,900 (-36.1%), from €10,790 to €6,889
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 | €544,158 | €332,582 | -€211,577 | -38.9% |
| Fixed assets | 21/28 | €56,024 | €37,002 | -€19,022 | -34.0% |
| Intangible fixed assets | 21 | €42,046 | €26,783 | -€15,263 | -36.3% |
| Tangible fixed assets | 22/27 | €6,028 | €2,269 | -€3,758 | -62.3% |
| Furniture and vehicles | 24 | €459 | €60 | -€399 | -86.9% |
| Other tangible fixed assets | 26 | €5,568 | €2,209 | -€3,359 | -60.3% |
| Financial fixed assets | 28 | €7,950 | €7,950 | = | 0.0% |
| Current assets | 29/58 | €488,135 | €295,580 | -€192,555 | -39.4% |
| Stocks and contracts in progress | 3 | €146,951 | €140,794 | -€6,158 | -4.2% |
| Stocks | 30/36 | €146,951 | €140,794 | -€6,158 | -4.2% |
| Amounts receivable within one year | 40/41 | €296,608 | €110,531 | -€186,077 | -62.7% |
| Trade receivables | 40 | €290,954 | €110,531 | -€180,423 | -62.0% |
| Other amounts receivable | 41 | €5,654 | €0 | -€5,654 | -100.0% |
| Cash at bank and in hand | 54/58 | €44,182 | €43,882 | -€300 | -0.7% |
| Deferred charges and accrued income | 490/1 | €393 | €373 | -€21 | -5.2% |
| Total equity and liabilities | 10/49 | €544,158 | €332,582 | -€211,577 | -38.9% |
| Equity | 10/15 | €362,784 | €279,791 | -€82,993 | -22.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,150 | €1,150 | = | 0.0% |
| Distributable reserves | 133 | €1,150 | €1,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €343,034 | €260,041 | -€82,993 | -24.2% |
| Amounts payable | 17/49 | €181,375 | €52,791 | -€128,584 | -70.9% |
| Amounts payable within one year | 42/48 | €181,375 | €52,791 | -€128,584 | -70.9% |
| Financial debts | 43 | - | €1,606 | +€1,606 | |
| Credit institutions | 430/8 | - | €1,606 | +€1,606 | |
| Trade debts | 44 | €141,000 | €29,619 | -€111,381 | -79.0% |
| Suppliers | 440/4 | €141,000 | €29,619 | -€111,381 | -79.0% |
| Advances received on contracts in progress | 46 | €18,500 | €1,927 | -€16,573 | -89.6% |
| Taxes, remuneration and social security | 45 | €21,874 | €19,639 | -€2,235 | -10.2% |
| Taxes | 450/3 | €3,650 | €29 | -€3,621 | -99.2% |
| Remuneration and social security | 454/9 | €18,224 | €19,610 | +€1,386 | +7.6% |
| Remuneration, social security and pensions | 62 | €105,182 | €120,756 | +€15,574 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,502 | €19,022 | +€11,519 | +153.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,035 | +€4,035 | |
| Other operating charges | 640/8 | €730 | €745 | +€14 | +2.0% |
| Gross operating margin | 9900 | €137,106 | €67,837 | -€69,269 | -50.5% |
| Operating profit (loss) | 9901 | €23,692 | -€76,720 | -€100,412 | |
| Financial income | 75/76B | €318 | €625 | +€307 | +96.7% |
| Recurring financial income | 75 | €318 | €625 | +€307 | +96.7% |
| Financial charges | 65/66B | €10,790 | €6,889 | -€3,900 | -36.1% |
| Recurring financial charges | 65 | €10,790 | €6,889 | -€3,900 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €13,220 | -€82,985 | -€96,204 | |
| Income taxes | 67/77 | €3,730 | €8 | -€3,721 | -99.8% |
| Profit (loss) for the period | 9904 | €9,490 | -€82,993 | -€92,483 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,490 | -€82,993 | -€92,483 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.