FRESCO: 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.
FRESCO
Largest movements
- Cash -€19,223
down €19,223 (-21.5%), from €89,499 to €70,276
mainly Debts after one year (-€36,122) and Investment in fixed assets (net) (-€20,617)
- Tangible fixed assets -€19,128
down €19,128 (-5.0%), from €384,561 to €365,433
of which Plant, machinery and equipment: -€21,029
- Receivables within one year -€16,148
down €16,148 (-19.1%), from €84,679 to €68,531
of which Trade receivables: -€16,111
- Debts after one year -€36,122
down €36,122 (-18.6%), from €193,891 to €157,769
of which Financial debts: -€21,122
- Reserves -€20,031
down €20,031 (-17.4%), from €115,162 to €95,131
of which Tax-exempt reserves: -€20,031
- Profit (loss) carried forward +€13,949
up €13,949 (+52.6%), from -€26,528 to -€12,579
- Current portion of long-term debt -€13,856
down €13,856 (-11.6%), from €119,573 to €105,717
- Provisions -€10,314
down €10,314 (-19.0%), from €54,150 to €43,836
- Depreciation -€15,846
down €15,846 (-28.5%), from €55,591 to €39,745
- Financial charges -€3,894
down €3,894 (-37.3%), from €10,444 to €6,550
- Gross operating margin -€2,931
down €2,931 (-7.9%), from €36,954 to €34,023
- Other operating charges +€1,354
up €1,354 (+44.9%), from €3,018 to €4,371
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €567,750 | €511,600 | -€56,150 | -9.9% |
| Fixed assets | 21/28 | €388,901 | €369,773 | -€19,128 | -4.9% |
| Tangible fixed assets | 22/27 | €384,561 | €365,433 | -€19,128 | -5.0% |
| Land and buildings | 22 | €344,683 | €335,953 | -€8,731 | -2.5% |
| Plant, machinery and equipment | 23 | €32,274 | €11,245 | -€21,029 | -65.2% |
| Furniture and vehicles | 24 | €7,603 | €18,235 | +€10,631 | +139.8% |
| Financial fixed assets | 28 | €4,340 | €4,340 | = | 0.0% |
| Current assets | 29/58 | €178,849 | €141,827 | -€37,022 | -20.7% |
| Amounts receivable within one year | 40/41 | €84,679 | €68,531 | -€16,148 | -19.1% |
| Trade receivables | 40 | €74,116 | €58,005 | -€16,111 | -21.7% |
| Other amounts receivable | 41 | €10,563 | €10,526 | -€37 | -0.4% |
| Cash at bank and in hand | 54/58 | €89,499 | €70,276 | -€19,223 | -21.5% |
| Deferred charges and accrued income | 490/1 | €4,671 | €3,020 | -€1,651 | -35.3% |
| Total equity and liabilities | 10/49 | €567,750 | €511,600 | -€56,150 | -9.9% |
| Equity | 10/15 | €188,633 | €182,552 | -€6,082 | -3.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €115,162 | €95,131 | -€20,031 | -17.4% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €105,162 | €85,131 | -€20,031 | -19.0% |
| Profit (loss) carried forward | 14 | -€26,528 | -€12,579 | +€13,949 | +52.6% |
| Provisions and deferred taxes | 16 | €54,150 | €43,836 | -€10,314 | -19.0% |
| Deferred taxes | 168 | €54,150 | €43,836 | -€10,314 | -19.0% |
| Amounts payable | 17/49 | €324,966 | €285,212 | -€39,754 | -12.2% |
| Amounts payable after more than one year | 17 | €193,891 | €157,769 | -€36,122 | -18.6% |
| Financial debts | 170/4 | €151,676 | €130,554 | -€21,122 | -13.9% |
| Other amounts payable | 178/9 | €42,215 | €27,215 | -€15,000 | -35.5% |
| Amounts payable within one year | 42/48 | €131,076 | €127,443 | -€3,632 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €119,573 | €105,717 | -€13,856 | -11.6% |
| Trade debts | 44 | €4,520 | €4,712 | +€192 | +4.2% |
| Suppliers | 440/4 | €4,520 | €4,712 | +€192 | +4.2% |
| Advances received on contracts in progress | 46 | - | €4,500 | +€4,500 | |
| Other amounts payable | 47/48 | €6,983 | €12,514 | +€5,532 | +79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,591 | €39,745 | -€15,846 | -28.5% |
| Other operating charges | 640/8 | €3,018 | €4,371 | +€1,354 | +44.9% |
| Gross operating margin | 9900 | €36,954 | €34,023 | -€2,931 | -7.9% |
| Operating profit (loss) | 9901 | -€21,655 | -€10,094 | +€11,561 | +53.4% |
| Financial income | 75/76B | - | €248 | +€248 | |
| Recurring financial income | 75 | - | €248 | +€248 | |
| Financial charges | 65/66B | €10,444 | €6,550 | -€3,894 | -37.3% |
| Recurring financial charges | 65 | €10,444 | €6,550 | -€3,894 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | -€32,099 | -€16,396 | +€15,703 | +48.9% |
| Transfer from deferred taxes | 780 | €10,314 | €10,314 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€21,784 | -€6,082 | +€15,703 | +72.1% |
| Transfer from tax-exempt reserves | 789 | €20,031 | €20,031 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,754 | €13,949 | +€15,703 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.