FRESNO: 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.
FRESNO
Largest movements
- Current investments -€701,867
down €701,867 (-37.0%), from €1.9m to €1.2m
- Cash +€643,749
up €643,749 (+512%), from €125,707 to €769,456
mainly Current investments (+€701,867) and Depreciation (+€11,873)
- Financial fixed assets +€45,000
up €45,000 (+22.2%), from €202,500 to €247,500
- Reserves -€26,242
down €26,242 (-1.0%), from €2.5m to €2.5m
- Financial charges +€42,835
up €42,835 (+3,353%), from €1,277 to €44,113
- Financial income +€5,729
up €5,729 (+8.4%), from €68,589 to €74,318
- Gross operating margin +€5,458
up €5,458 (+16.1%), from -€33,911 to -€28,453
- Taxes -€5,288
down €5,288 (-96.8%), from €5,462 to €174
- Depreciation -€1,219
down €1,219 (-9.3%), from €13,092 to €11,873
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 | €2,534,163 | €2,523,326 | -€10,838 | -0.4% |
| Fixed assets | 21/28 | €223,063 | €256,190 | +€33,127 | +14.9% |
| Tangible fixed assets | 22/27 | €20,563 | €8,690 | -€11,873 | -57.7% |
| Land and buildings | 22 | €2,732 | €2,380 | -€353 | -12.9% |
| Furniture and vehicles | 24 | €17,205 | €6,310 | -€10,895 | -63.3% |
| Other tangible fixed assets | 26 | €625 | - | -€625 | |
| Financial fixed assets | 28 | €202,500 | €247,500 | +€45,000 | +22.2% |
| Current assets | 29/58 | €2,311,101 | €2,267,136 | -€43,965 | -1.9% |
| Amounts receivable after more than one year | 29 | €232,872 | €232,872 | = | 0.0% |
| Other amounts receivable | 291 | €232,872 | €232,872 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €29,631 | €38,292 | +€8,661 | +29.2% |
| Trade receivables | 40 | €13,483 | €12,000 | -€1,483 | -11.0% |
| Other amounts receivable | 41 | €16,147 | €26,292 | +€10,145 | +62.8% |
| Current investments | 50/53 | €1,898,517 | €1,196,650 | -€701,867 | -37.0% |
| Cash at bank and in hand | 54/58 | €125,707 | €769,456 | +€643,749 | +512% |
| Deferred charges and accrued income | 490/1 | €24,375 | €29,867 | +€5,492 | +22.5% |
| Total equity and liabilities | 10/49 | €2,534,163 | €2,523,326 | -€10,838 | -0.4% |
| Equity | 10/15 | €2,521,208 | €2,494,966 | -€26,242 | -1.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,508,808 | €2,482,566 | -€26,242 | -1.0% |
| Distributable reserves | 133 | €2,508,808 | €2,482,566 | -€26,242 | -1.0% |
| Amounts payable | 17/49 | €12,955 | €28,359 | +€15,404 | +119% |
| Amounts payable within one year | 42/48 | €12,535 | €27,376 | +€14,841 | +118% |
| Trade debts | 44 | €3,305 | €13,986 | +€10,681 | +323% |
| Suppliers | 440/4 | €3,305 | €13,986 | +€10,681 | +323% |
| Taxes, remuneration and social security | 45 | €3,295 | €4,099 | +€803 | +24.4% |
| Taxes | 450/3 | €3,295 | €4,099 | +€803 | +24.4% |
| Other amounts payable | 47/48 | €5,935 | €9,292 | +€3,357 | +56.6% |
| Accrued charges and deferred income | 492/3 | €420 | €983 | +€563 | +134% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,092 | €11,873 | -€1,219 | -9.3% |
| Other operating charges | 640/8 | €1,850 | €2,500 | +€650 | +35.1% |
| Gross operating margin | 9900 | -€33,911 | -€28,453 | +€5,458 | +16.1% |
| Operating profit (loss) | 9901 | -€48,854 | -€42,826 | +€6,028 | +12.3% |
| Financial income | 75/76B | €68,589 | €74,318 | +€5,729 | +8.4% |
| Recurring financial income | 75 | €68,589 | €74,318 | +€5,729 | +8.4% |
| Financial charges | 65/66B | €1,277 | €44,113 | +€42,835 | +3,353% |
| Recurring financial charges | 65 | €1,277 | €44,113 | +€42,835 | +3,353% |
| Profit (loss) for the period before taxes | 9903 | €18,458 | -€12,621 | -€31,079 | |
| Income taxes | 67/77 | €5,462 | €174 | -€5,288 | -96.8% |
| Profit (loss) for the period | 9904 | €12,996 | -€12,794 | -€25,791 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,996 | -€12,794 | -€25,791 |
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 26 October 2026 via checked.be.