FRENTS: 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.
FRENTS
Largest movements
- Tangible fixed assets -€79,451
down €79,451 (-3.9%), from €2.0m to €2.0m
of which Land and buildings: -€57,598
- Debts after one year -€81,623
down €81,623 (-7.4%), from €1.1m to €1.0m
of which Financial debts: -€81,623
- Reserves +€64,453
up €64,453 (+7.3%), from €877,046 to €941,499
of which Distributable reserves: +€64,453
- Other debts -€32,732
down €32,732 (-13.2%), from €248,280 to €215,547
- Financial income +€59,999
up €59,999 (+3,278,637%), from €2 to €60,001
- Depreciation -€38,467
down €38,467 (-30.8%), from €124,817 to €86,351
- Gross operating margin -€30,062
down €30,062 (-10.2%), from €296,165 to €266,104
- Staff costs +€5,254
up €5,254 (+5.1%), from €102,763 to €108,017
- Financial charges +€4,029
up €4,029 (+7.1%), from €56,876 to €60,905
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.
Derived cash bridge
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 | €2,633,619 | €2,556,067 | -€77,552 | -2.9% |
| Fixed assets | 21/28 | €2,525,070 | €2,445,619 | -€79,451 | -3.1% |
| Tangible fixed assets | 22/27 | €2,029,867 | €1,950,416 | -€79,451 | -3.9% |
| Land and buildings | 22 | €1,977,980 | €1,920,382 | -€57,598 | -2.9% |
| Furniture and vehicles | 24 | €51,886 | €30,034 | -€21,853 | -42.1% |
| Financial fixed assets | 28 | €495,203 | €495,203 | = | 0.0% |
| Current assets | 29/58 | €108,549 | €110,448 | +€1,899 | +1.7% |
| Amounts receivable within one year | 40/41 | €62,919 | €62,304 | -€615 | -1.0% |
| Trade receivables | 40 | €41,655 | €38,720 | -€2,935 | -7.0% |
| Other amounts receivable | 41 | €21,263 | €23,584 | +€2,321 | +10.9% |
| Current investments | 50/53 | - | €56 | +€56 | |
| Cash at bank and in hand | 54/58 | €45,631 | €48,088 | +€2,457 | +5.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,633,619 | €2,556,067 | -€77,552 | -2.9% |
| Equity | 10/15 | €1,091,346 | €1,155,799 | +€64,453 | +5.9% |
| Contributions | 10/11 | €214,300 | €214,300 | = | 0.0% |
| Reserves | 13 | €877,046 | €941,499 | +€64,453 | +7.3% |
| Tax-exempt reserves | 132 | €90,459 | €90,459 | = | 0.0% |
| Distributable reserves | 133 | €786,587 | €851,040 | +€64,453 | +8.2% |
| Amounts payable | 17/49 | €1,542,273 | €1,400,268 | -€142,005 | -9.2% |
| Amounts payable after more than one year | 17 | €1,098,941 | €1,017,319 | -€81,623 | -7.4% |
| Financial debts | 170/4 | €328,941 | €247,319 | -€81,623 | -24.8% |
| Other amounts payable | 178/9 | €770,000 | €770,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €410,092 | €349,710 | -€60,382 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €105,585 | €81,923 | -€23,662 | -22.4% |
| Trade debts | 44 | €1,161 | €1,512 | +€351 | +30.2% |
| Suppliers | 440/4 | €1,161 | €1,512 | +€351 | +30.2% |
| Taxes, remuneration and social security | 45 | €55,066 | €50,728 | -€4,338 | -7.9% |
| Taxes | 450/3 | €43,543 | €41,354 | -€2,189 | -5.0% |
| Remuneration and social security | 454/9 | €11,523 | €9,374 | -€2,149 | -18.7% |
| Other amounts payable | 47/48 | €248,280 | €215,547 | -€32,732 | -13.2% |
| Accrued charges and deferred income | 492/3 | €33,240 | €33,240 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €102,763 | €108,017 | +€5,254 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,817 | €86,351 | -€38,467 | -30.8% |
| Other operating charges | 640/8 | €5,349 | €5,800 | +€452 | +8.4% |
| Non-recurring operating charges | 66A | €70,517 | €0 | -€70,517 | -100% |
| Gross operating margin | 9900 | €296,165 | €266,104 | -€30,062 | -10.2% |
| Operating profit (loss) | 9901 | -€7,281 | €65,936 | +€73,216 | |
| Financial income | 75/76B | €2 | €60,001 | +€59,999 | +3,278,637% |
| Recurring financial income | 75 | €2 | €60,001 | +€59,999 | +3,278,637% |
| Financial charges | 65/66B | €56,876 | €60,905 | +€4,029 | +7.1% |
| Recurring financial charges | 65 | €56,876 | €60,905 | +€4,029 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | -€64,154 | €65,032 | +€129,186 | |
| Income taxes | 67/77 | €728 | €579 | -€150 | -20.5% |
| Profit (loss) for the period | 9904 | -€64,883 | €64,453 | +€129,336 | |
| Profit (loss) for the period to be appropriated | 9905 | -€64,883 | €64,453 | +€129,336 |
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 20 October 2026 via checked.be.