FRENSO: 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.
FRENSO
Largest movements
- Tangible fixed assets -€120,584
down €120,584 (-19.1%), from €629,897 to €509,313
of which Other tangible fixed assets: -€124,348
- Cash -€90,915
down €90,915 (-55.8%), from €162,835 to €71,920
mainly Debts after one year (-€177,413) and Trade debts (-€54,625)
- Debts after one year -€177,413
down €177,413 (-45.9%), from €386,217 to €208,803
- Trade debts -€54,625
down €54,625 (-58.8%), from €92,885 to €38,260
- Accrued charges and deferred income -€25,000
down €25,000 (-50.0%), from €50,000 to €25,000
- Current portion of long-term debt +€13,247
up €13,247 (+8.6%), from €153,153 to €166,400
- Tax, wage and social debts +€12,612
up €12,612 (+91.9%), from €13,724 to €26,336
- Gross operating margin +€51,229
up €51,229 (+36.1%), from €141,959 to €193,188
- Depreciation -€5,528
down €5,528 (-3.5%), from €155,982 to €150,454
- Financial charges -€3,629
down €3,629 (-11.0%), from €33,063 to €29,433
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €814,955 | €607,362 | -€207,593 | -25.5% |
| Fixed assets | 21/28 | €629,897 | €509,313 | -€120,584 | -19.1% |
| Tangible fixed assets | 22/27 | €629,897 | €509,313 | -€120,584 | -19.1% |
| Plant, machinery and equipment | 23 | €3,467 | €2,245 | -€1,222 | -35.2% |
| Furniture and vehicles | 24 | - | €4,986 | +€4,986 | |
| Other tangible fixed assets | 26 | €626,430 | €502,082 | -€124,348 | -19.9% |
| Current assets | 29/58 | €185,058 | €98,049 | -€87,009 | -47.0% |
| Amounts receivable within one year | 40/41 | €22,223 | €26,129 | +€3,906 | +17.6% |
| Trade receivables | 40 | €4,861 | €26,126 | +€21,265 | +437% |
| Other amounts receivable | 41 | €17,362 | €3 | -€17,359 | -100.0% |
| Cash at bank and in hand | 54/58 | €162,835 | €71,920 | -€90,915 | -55.8% |
| Total equity and liabilities | 10/49 | €814,955 | €607,362 | -€207,593 | -25.5% |
| Equity | 10/15 | €47,584 | €59,799 | +€12,216 | +25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,593 | €77,593 | = | 0.0% |
| Distributable reserves | 133 | €77,593 | €77,593 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,609 | -€36,393 | +€12,216 | +25.1% |
| Amounts payable | 17/49 | €767,371 | €547,563 | -€219,808 | -28.6% |
| Amounts payable after more than one year | 17 | €386,217 | €208,803 | -€177,413 | -45.9% |
| Financial debts | 170/4 | €386,217 | €208,803 | -€177,413 | -45.9% |
| Amounts payable within one year | 42/48 | €331,154 | €313,759 | -€17,395 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €153,153 | €166,400 | +€13,247 | +8.6% |
| Trade debts | 44 | €92,885 | €38,260 | -€54,625 | -58.8% |
| Suppliers | 440/4 | €92,885 | €38,260 | -€54,625 | -58.8% |
| Taxes, remuneration and social security | 45 | €13,724 | €26,336 | +€12,612 | +91.9% |
| Taxes | 450/3 | €13,724 | €26,336 | +€12,612 | +91.9% |
| Other amounts payable | 47/48 | €71,392 | €82,764 | +€11,372 | +15.9% |
| Accrued charges and deferred income | 492/3 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,982 | €150,454 | -€5,528 | -3.5% |
| Other operating charges | 640/8 | €1,069 | €1,086 | +€16 | +1.5% |
| Gross operating margin | 9900 | €141,959 | €193,188 | +€51,229 | +36.1% |
| Operating profit (loss) | 9901 | -€15,093 | €41,648 | +€56,741 | |
| Financial income | 75/76B | €3 | €1 | -€2 | -68.1% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -68.1% |
| Financial charges | 65/66B | €33,063 | €29,433 | -€3,629 | -11.0% |
| Recurring financial charges | 65 | €33,063 | €29,433 | -€3,629 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | -€48,152 | €12,216 | +€60,368 | |
| Income taxes | 67/77 | €457 | €0 | -€457 | -100% |
| Profit (loss) for the period | 9904 | -€48,609 | €12,216 | +€60,825 | |
| Profit (loss) for the period to be appropriated | 9905 | -€48,609 | €12,216 | +€60,825 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.