FRENIC: 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.
FRENIC
Largest movements
- Stocks and contracts +€70,234
up €70,234 (+28.3%), from €247,958 to €318,192
- Cash -€20,134
down €20,134 (-58.1%), from €34,628 to €14,494
mainly Stocks and contracts (-€70,234) and Trade debts (-€37,197)
- Receivables within one year -€18,488
down €18,488 (-94.9%), from €19,488 to €1,000
of which Trade receivables: -€11,123
- Other debts +€86,722
up €86,722 (+48.6%), from €178,520 to €265,242
- Trade debts -€37,197
down €37,197 (-100.0%), from €37,197 to €0
- Profit (loss) carried forward -€14,625
down €14,625 (-177.6%), from -€8,237 to -€22,862
- Gross operating margin -€4,653
down €4,653, from €198 to -€4,455
- Financial charges -€1,956
down €1,956 (-23.0%), from €8,498 to €6,542
- Financial income -€426
down €426 (-100.0%), from €426 to €0
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 | €302,361 | €333,929 | +€31,568 | +10.4% |
| Current assets | 29/58 | €302,361 | €333,929 | +€31,568 | +10.4% |
| Stocks and contracts in progress | 3 | €247,958 | €318,192 | +€70,234 | +28.3% |
| Stocks | 30/36 | €247,958 | €318,192 | +€70,234 | +28.3% |
| Amounts receivable within one year | 40/41 | €19,488 | €1,000 | -€18,488 | -94.9% |
| Trade receivables | 40 | €11,123 | €0 | -€11,123 | -100.0% |
| Other amounts receivable | 41 | €8,365 | €1,000 | -€7,365 | -88.0% |
| Cash at bank and in hand | 54/58 | €34,628 | €14,494 | -€20,134 | -58.1% |
| Deferred charges and accrued income | 490/1 | €286 | €243 | -€44 | -15.3% |
| Total equity and liabilities | 10/49 | €302,361 | €333,929 | +€31,568 | +10.4% |
| Equity | 10/15 | €80,016 | €65,391 | -€14,625 | -18.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €38,252 | €38,252 | = | 0.0% |
| Distributable reserves | 133 | €38,252 | €38,252 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,237 | -€22,862 | -€14,625 | -177.6% |
| Amounts payable | 17/49 | €222,345 | €268,538 | +€46,193 | +20.8% |
| Amounts payable within one year | 42/48 | €222,345 | €268,538 | +€46,193 | +20.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €37,197 | €0 | -€37,197 | -100.0% |
| Suppliers | 440/4 | €37,197 | €0 | -€37,197 | -100.0% |
| Taxes, remuneration and social security | 45 | €6,628 | €3,296 | -€3,331 | -50.3% |
| Taxes | 450/3 | €6,628 | €3,296 | -€3,331 | -50.3% |
| Other amounts payable | 47/48 | €178,520 | €265,242 | +€86,722 | +48.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €3,657 | €3,629 | -€28 | -0.8% |
| Gross operating margin | 9900 | €198 | -€4,455 | -€4,653 | |
| Operating profit (loss) | 9901 | -€3,459 | -€8,084 | -€4,625 | -133.7% |
| Financial income | 75/76B | €426 | €0 | -€426 | -100.0% |
| Recurring financial income | 75 | €426 | €0 | -€426 | -100.0% |
| Financial charges | 65/66B | €8,498 | €6,542 | -€1,956 | -23.0% |
| Recurring financial charges | 65 | €8,498 | €6,542 | -€1,956 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,531 | -€14,625 | -€3,094 | -26.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€11,531 | -€14,625 | -€3,094 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,531 | -€14,625 | -€3,094 | -26.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.