FRF: 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.
FRF
Largest movements
- Receivables within one year -€1,188
no longer reported in 2025 (was €1,188)
- Tangible fixed assets -€482
no longer reported in 2025 (was €482)
- Financial fixed assets -€88
no longer reported in 2025 (was €88)
- Current investments -€67
no longer reported in 2025 (was €67)
- Tax, wage and social debts -€1,981
no longer reported in 2025 (was €1,981)
- Other debts +€1,420
up €1,420 (+2.0%), from €72,477 to €73,897
- Trade debts -€661
no longer reported in 2025 (was €661)
- Profit (loss) carried forward -€602
down €602 (-0.5%), from -€124,742 to -€125,344
- Gross operating margin +€1,972
no longer reported in 2025 (was -€1,972)
- Depreciation -€891
no longer reported in 2025 (was €891)
- Financial charges -€98
no longer reported in 2025 (was €98)
From the 2022 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,825 | - | -€1,825 | |
| Fixed assets | 21/28 | €570 | - | -€570 | |
| Tangible fixed assets | 22/27 | €482 | - | -€482 | |
| Plant, machinery and equipment | 23 | €482 | - | -€482 | |
| Financial fixed assets | 28 | €88 | - | -€88 | |
| Current assets | 29/58 | €1,255 | - | -€1,255 | |
| Amounts receivable within one year | 40/41 | €1,188 | - | -€1,188 | |
| Other amounts receivable | 41 | €1,188 | - | -€1,188 | |
| Current investments | 50/53 | €67 | - | -€67 | |
| Total equity and liabilities | 10/49 | €1,825 | - | -€1,825 | |
| Equity | 10/15 | -€106,068 | -€106,670 | -€602 | -0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €74 | €74 | = | 0.0% |
| Non-distributable reserves | 130/1 | €74 | €74 | = | 0.0% |
| Legal reserve | 130 | €74 | - | -€74 | |
| Reserves not available under the articles | 1311 | - | €74 | +€74 | |
| Profit (loss) carried forward | 14 | -€124,742 | -€125,344 | -€602 | -0.5% |
| Amounts payable | 17/49 | €107,893 | €106,670 | -€1,223 | -1.1% |
| Amounts payable after more than one year | 17 | €32,773 | €32,773 | = | 0.0% |
| Financial debts | 170/4 | €32,773 | €32,773 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,120 | €73,897 | -€1,223 | -1.6% |
| Trade debts | 44 | €661 | - | -€661 | |
| Suppliers | 440/4 | €661 | - | -€661 | |
| Taxes, remuneration and social security | 45 | €1,981 | - | -€1,981 | |
| Remuneration and social security | 454/9 | €1,981 | - | -€1,981 | |
| Other amounts payable | 47/48 | €72,477 | €73,897 | +€1,420 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €891 | - | -€891 | |
| Gross operating margin | 9900 | -€1,972 | - | +€1,972 | |
| Operating profit (loss) | 9901 | -€2,863 | - | +€2,863 | |
| Financial charges | 65/66B | €98 | - | -€98 | |
| Recurring financial charges | 65 | €98 | - | -€98 | |
| Profit (loss) for the period before taxes | 9903 | -€2,961 | - | +€2,961 | |
| Profit (loss) for the period | 9904 | -€2,961 | - | +€2,961 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,961 | - | +€2,961 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.