Fri-S: 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.
Fri-S
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+397.9%), from €381,125 to €1.9m
- Receivables within one year +€28,921
up €28,921 (+230.8%), from €12,533 to €41,455
of which Other amounts receivable: +€30,591
- Deferred charges and accrued income +€23,735
up €23,735 (+708.1%), from €3,352 to €27,087
- Other debts +€1.5m
up €1.5m (+432.7%), from €352,109 to €1.9m
- Reserves +€30,755
up €30,755 (+50.0%), from €61,511 to €92,266
- Gross operating margin +€134,037
up €134,037 (+89.2%), from €150,184 to €284,221
- Depreciation +€105,482
up €105,482 (+221.0%), from €47,722 to €153,205
- Other operating charges +€68,315
up €68,315 (+426.2%), from €16,027 to €84,342
- Taxes -€11,513
down €11,513 (-52.7%), from €21,862 to €10,349
- Financial charges +€5,501
up €5,501 (+7910.1%), from €70 to €5,570
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.
Cash bridge derived
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 | €432,977 | €1,993,344 | +€1.6m | +360.4% |
| Fixed assets | 21/28 | €381,125 | €1,897,783 | +€1.5m | +397.9% |
| Tangible fixed assets | 22/27 | €381,125 | €1,897,783 | +€1.5m | +397.9% |
| Furniture and vehicles | 24 | €381,125 | €1,897,783 | +€1.5m | +397.9% |
| Current assets | 29/58 | €51,851 | €95,561 | +€43,710 | +84.3% |
| Amounts receivable within one year | 40/41 | €12,533 | €41,455 | +€28,921 | +230.8% |
| Trade receivables | 40 | €12,169 | €10,499 | -€1,670 | -13.7% |
| Other amounts receivable | 41 | €364 | €30,955 | +€30,591 | +8407.5% |
| Cash at bank and in hand | 54/58 | €35,966 | €27,019 | -€8,947 | -24.9% |
| Deferred charges and accrued income | 490/1 | €3,352 | €27,087 | +€23,735 | +708.1% |
| Total equity and liabilities | 10/49 | €432,977 | €1,993,344 | +€1.6m | +360.4% |
| Equity | 10/15 | €71,511 | €102,266 | +€30,755 | +43.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €61,511 | €92,266 | +€30,755 | +50.0% |
| Distributable reserves | 133 | €61,511 | €92,266 | +€30,755 | +50.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €361,465 | €1,891,078 | +€1.5m | +423.2% |
| Amounts payable within one year | 42/48 | €361,465 | €1,891,078 | +€1.5m | +423.2% |
| Trade debts | 44 | €2,495 | €15,438 | +€12,943 | +518.9% |
| Suppliers | 440/4 | €2,495 | €15,438 | +€12,943 | +518.9% |
| Taxes, remuneration and social security | 45 | €6,862 | €0 | -€6,862 | -100.0% |
| Taxes | 450/3 | €6,862 | €0 | -€6,862 | -100.0% |
| Other amounts payable | 47/48 | €352,109 | €1,875,640 | +€1.5m | +432.7% |
| Non-recurring operating income | 76A | €40,651 | €122,943 | +€82,292 | +202.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,722 | €153,205 | +€105,482 | +221.0% |
| Other operating charges | 640/8 | €16,027 | €84,342 | +€68,315 | +426.2% |
| Non-recurring operating charges | 66A | €461 | €0 | -€461 | -100.0% |
| Gross operating margin | 9900 | €150,184 | €284,221 | +€134,037 | +89.2% |
| Operating profit (loss) | 9901 | €85,973 | €46,675 | -€39,299 | -45.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | +900.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +900.0% |
| Financial charges | 65/66B | €70 | €5,570 | +€5,501 | +7910.1% |
| Recurring financial charges | 65 | €70 | €5,570 | +€5,501 | +7910.1% |
| Profit (loss) for the period before taxes | 9903 | €85,904 | €41,105 | -€44,799 | -52.2% |
| Income taxes | 67/77 | €21,862 | €10,349 | -€11,513 | -52.7% |
| Profit (loss) for the period | 9904 | €64,042 | €30,755 | -€33,286 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,042 | €30,755 | -€33,286 | -52.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.