FRENOT: 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.
FRENOT
Largest movements
- Current investments +€80,000
up €80,000 (+114.3%), from €70,000 to €150,000
- Cash -€69,207
down €69,207 (-44.3%), from €156,066 to €86,859
mainly Current investments (-€80,000) and Other debts (-€1,011)
- Receivables within one year -€6,942
down €6,942 (-30.2%), from €23,016 to €16,074
of which Trade receivables: -€7,198
- Profit (loss) carried forward +€2,974
up €2,974 (+25.5%), from €11,680 to €14,654
- Gross operating margin +€1,712
up €1,712 (+151.2%), from €1,132 to €2,844
- Depreciation -€1,290
down €1,290 (-41.4%), from €3,117 to €1,826
- Taxes +€557
up €557 (+604.2%), from €92 to €649
- Financial income -€239
down €239 (-5.7%), from €4,201 to €3,963
- Other operating charges +€77
up €77 (+6.8%), from €1,132 to €1,208
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 | €252,966 | €255,352 | +€2,386 | +0.9% |
| Fixed assets | 21/28 | €3,423 | €1,596 | -€1,826 | -53.4% |
| Tangible fixed assets | 22/27 | €3,423 | €1,596 | -€1,826 | -53.4% |
| Furniture and vehicles | 24 | €3,423 | €1,596 | -€1,826 | -53.4% |
| Current assets | 29/58 | €249,543 | €253,755 | +€4,212 | +1.7% |
| Amounts receivable within one year | 40/41 | €23,016 | €16,074 | -€6,942 | -30.2% |
| Trade receivables | 40 | €22,922 | €15,723 | -€7,198 | -31.4% |
| Other amounts receivable | 41 | €94 | €351 | +€257 | +271.7% |
| Current investments | 50/53 | €70,000 | €150,000 | +€80,000 | +114.3% |
| Cash at bank and in hand | 54/58 | €156,066 | €86,859 | -€69,207 | -44.3% |
| Deferred charges and accrued income | 490/1 | €461 | €822 | +€361 | +78.3% |
| Total equity and liabilities | 10/49 | €252,966 | €255,352 | +€2,386 | +0.9% |
| Equity | 10/15 | €242,890 | €245,864 | +€2,974 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €212,610 | €212,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €192,000 | €192,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,680 | €14,654 | +€2,974 | +25.5% |
| Amounts payable | 17/49 | €10,076 | €9,488 | -€588 | -5.8% |
| Amounts payable within one year | 42/48 | €10,076 | €9,488 | -€588 | -5.8% |
| Trade debts | 44 | €325 | €828 | +€504 | +154.9% |
| Suppliers | 440/4 | €325 | €828 | +€504 | +154.9% |
| Taxes, remuneration and social security | 45 | €274 | €193 | -€81 | -29.6% |
| Taxes | 450/3 | €274 | €193 | -€81 | -29.6% |
| Other amounts payable | 47/48 | €9,477 | €8,466 | -€1,011 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,117 | €1,826 | -€1,290 | -41.4% |
| Other operating charges | 640/8 | €1,132 | €1,208 | +€77 | +6.8% |
| Gross operating margin | 9900 | €1,132 | €2,844 | +€1,712 | +151.2% |
| Operating profit (loss) | 9901 | -€3,116 | -€191 | +€2,925 | +93.9% |
| Financial income | 75/76B | €4,201 | €3,963 | -€239 | -5.7% |
| Recurring financial income | 75 | €4,201 | €3,963 | -€239 | -5.7% |
| Financial charges | 65/66B | €134 | €149 | +€15 | +11.4% |
| Recurring financial charges | 65 | €134 | €149 | +€15 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €951 | €3,623 | +€2,672 | +280.9% |
| Income taxes | 67/77 | €92 | €649 | +€557 | +604.2% |
| Profit (loss) for the period | 9904 | €859 | €2,974 | +€2,115 | +246.2% |
| Profit (loss) for the period to be appropriated | 9905 | €859 | €2,974 | +€2,115 | +246.2% |
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 10 October 2026 via checked.be.