FRIBEL: 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.
FRIBEL
Largest movements
- Cash -€295,303
down €295,303 (-48.2%), from €612,782 to €317,480
mainly Other debts (-€250,208) and Contributions, distributions and other (-€125,000)
- Tangible fixed assets -€21,979
down €21,979 (-33.8%), from €64,932 to €42,953
- Deferred charges and accrued income -€13,556
down €13,556 (-32.4%), from €41,837 to €28,281
- Other debts -€250,208
down €250,208 (-92.6%), from €270,200 to €19,992
- Trade debts -€114,898
down €114,898 (-59.5%), from €193,067 to €78,169
- Accrued charges and deferred income -€58,152
down €58,152 (-44.1%), from €131,993 to €73,841
- Tax, wage and social debts +€50,798
up €50,798 (+28.4%), from €179,013 to €229,811
of which Taxes: +€32,991
- Reserves +€40,563
up €40,563 (+21.1%), from €192,251 to €232,814
of which Distributable reserves: +€40,563
- Gross operating margin -€94,792
down €94,792 (-9.9%), from €961,672 to €866,881
- Staff costs +€56,064
up €56,064 (+11.0%), from €508,298 to €564,362
- Taxes -€36,625
down €36,625 (-34.1%), from €107,390 to €70,765
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 | €1,035,733 | €701,416 | -€334,317 | -32.3% |
| Fixed assets | 21/28 | €69,744 | €44,450 | -€25,294 | -36.3% |
| Intangible fixed assets | 21 | €3,468 | €154 | -€3,314 | -95.6% |
| Tangible fixed assets | 22/27 | €64,932 | €42,953 | -€21,979 | -33.8% |
| Furniture and vehicles | 24 | €64,932 | €42,953 | -€21,979 | -33.8% |
| Financial fixed assets | 28 | €1,344 | €1,344 | = | 0.0% |
| Current assets | 29/58 | €965,989 | €656,966 | -€309,023 | -32.0% |
| Stocks and contracts in progress | 3 | €74,317 | €79,667 | +€5,349 | +7.2% |
| Stocks | 30/36 | €74,317 | €79,667 | +€5,349 | +7.2% |
| Amounts receivable within one year | 40/41 | €237,053 | €231,539 | -€5,514 | -2.3% |
| Trade receivables | 40 | €236,233 | €230,719 | -€5,514 | -2.3% |
| Other amounts receivable | 41 | €820 | €820 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €612,782 | €317,480 | -€295,303 | -48.2% |
| Deferred charges and accrued income | 490/1 | €41,837 | €28,281 | -€13,556 | -32.4% |
| Total equity and liabilities | 10/49 | €1,035,733 | €701,416 | -€334,317 | -32.3% |
| Equity | 10/15 | €254,251 | €294,814 | +€40,563 | +16.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €192,251 | €232,814 | +€40,563 | +21.1% |
| Non-distributable reserves | 130/1 | €6,292 | €6,292 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Other | 1319 | €92 | €92 | = | 0.0% |
| Tax-exempt reserves | 132 | €908 | €908 | = | 0.0% |
| Distributable reserves | 133 | €185,051 | €225,613 | +€40,563 | +21.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €781,482 | €406,602 | -€374,880 | -48.0% |
| Amounts payable within one year | 42/48 | €649,489 | €332,762 | -€316,728 | -48.8% |
| Trade debts | 44 | €193,067 | €78,169 | -€114,898 | -59.5% |
| Suppliers | 440/4 | €193,067 | €78,169 | -€114,898 | -59.5% |
| Advances received on contracts in progress | 46 | €7,209 | €4,790 | -€2,419 | -33.6% |
| Taxes, remuneration and social security | 45 | €179,013 | €229,811 | +€50,798 | +28.4% |
| Taxes | 450/3 | €140,019 | €173,010 | +€32,991 | +23.6% |
| Remuneration and social security | 454/9 | €38,994 | €56,801 | +€17,807 | +45.7% |
| Other amounts payable | 47/48 | €270,200 | €19,992 | -€250,208 | -92.6% |
| Accrued charges and deferred income | 492/3 | €131,993 | €73,841 | -€58,152 | -44.1% |
| Remuneration, social security and pensions | 62 | €508,298 | €564,362 | +€56,064 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,265 | €29,266 | -€1,999 | -6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €477 | -€143 | -€620 | |
| Other operating charges | 640/8 | €3,547 | €4,653 | +€1,107 | +31.2% |
| Gross operating margin | 9900 | €961,672 | €866,881 | -€94,792 | -9.9% |
| Operating profit (loss) | 9901 | €418,086 | €268,743 | -€149,344 | -35.7% |
| Financial income | 75/76B | €4,014 | €0 | -€4,014 | -100.0% |
| Recurring financial income | 75 | €4,014 | €0 | -€4,014 | -100.0% |
| Financial charges | 65/66B | €34,793 | €32,415 | -€2,379 | -6.8% |
| Recurring financial charges | 65 | €34,793 | €32,415 | -€2,379 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €387,307 | €236,328 | -€150,979 | -39.0% |
| Income taxes | 67/77 | €107,390 | €70,765 | -€36,625 | -34.1% |
| Profit (loss) for the period | 9904 | €279,916 | €165,563 | -€114,354 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €279,916 | €165,563 | -€114,354 | -40.9% |
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.