FRIBELS: 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.
FRIBELS
Largest movements
- Receivables within one year -€77,483
down €77,483 (-19.5%), from €396,407 to €318,924
of which Trade receivables: -€121,648
- Cash -€19,228
down €19,228 (-36.6%), from €52,475 to €33,247
mainly Net result for the year (-€115,370) and Other debts (-€12,978)
- Deferred charges and accrued income -€9,195
down €9,195 (-58.6%), from €15,703 to €6,508
- Profit (loss) carried forward -€115,370
down €115,370, from €48,382 to -€66,988
- Short-term financial debts +€14,236
up €14,236 (+40.9%), from €34,846 to €49,081
- Other debts -€12,978
down €12,978 (-55.5%), from €23,375 to €10,398
- Tax, wage and social debts +€5,235
up €5,235 (+8.2%), from €64,121 to €69,356
of which Remuneration and social security: +€8,273
- Gross operating margin -€262,698
down €262,698 (-41.4%), from €634,384 to €371,686
- Staff costs -€70,178
down €70,178 (-12.7%), from €552,449 to €482,271
- Taxes -€22,552
down €22,552, from €22,551 to -€1
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 | €464,787 | €358,881 | -€105,906 | -22.8% |
| Fixed assets | 21/28 | €200 | €200 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €464,587 | €358,681 | -€105,906 | -22.8% |
| Amounts receivable within one year | 40/41 | €396,407 | €318,924 | -€77,483 | -19.5% |
| Trade receivables | 40 | €394,508 | €272,860 | -€121,648 | -30.8% |
| Other amounts receivable | 41 | €1,899 | €46,064 | +€44,164 | +2325.2% |
| Current investments | 50/53 | €2 | €2 | +€0 | +0.9% |
| Cash at bank and in hand | 54/58 | €52,475 | €33,247 | -€19,228 | -36.6% |
| Deferred charges and accrued income | 490/1 | €15,703 | €6,508 | -€9,195 | -58.6% |
| Total equity and liabilities | 10/49 | €464,787 | €358,881 | -€105,906 | -22.8% |
| Equity | 10/15 | €282,172 | €166,734 | -€115,438 | -40.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €227,523 | €227,523 | = | 0.0% |
| Distributable reserves | 133 | €227,523 | €227,523 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,382 | -€66,988 | -€115,370 | |
| Investment grants | 15 | €68 | €0 | -€68 | -100.0% |
| Amounts payable | 17/49 | €182,615 | €192,147 | +€9,532 | +5.2% |
| Amounts payable within one year | 42/48 | €172,539 | €180,756 | +€8,217 | +4.8% |
| Financial debts | 43 | €34,846 | €49,081 | +€14,236 | +40.9% |
| Credit institutions | 430/8 | €34,846 | €49,081 | +€14,236 | +40.9% |
| Trade debts | 44 | €50,197 | €51,921 | +€1,723 | +3.4% |
| Suppliers | 440/4 | €50,197 | €51,921 | +€1,723 | +3.4% |
| Taxes, remuneration and social security | 45 | €64,121 | €69,356 | +€5,235 | +8.2% |
| Taxes | 450/3 | €5,195 | €2,157 | -€3,038 | -58.5% |
| Remuneration and social security | 454/9 | €58,926 | €67,199 | +€8,273 | +14.0% |
| Other amounts payable | 47/48 | €23,375 | €10,398 | -€12,978 | -55.5% |
| Accrued charges and deferred income | 492/3 | €10,076 | €11,391 | +€1,315 | +13.1% |
| Remuneration, social security and pensions | 62 | €552,449 | €482,271 | -€70,178 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,735 | - | -€2,735 | |
| Other operating charges | 640/8 | €2,576 | €3,277 | +€701 | +27.2% |
| Gross operating margin | 9900 | €634,384 | €371,686 | -€262,698 | -41.4% |
| Operating profit (loss) | 9901 | €76,624 | -€113,862 | -€190,486 | |
| Financial income | 75/76B | €564 | €127 | -€437 | -77.4% |
| Recurring financial income | 75 | €564 | €127 | -€437 | -77.4% |
| Financial charges | 65/66B | €2,383 | €1,636 | -€747 | -31.4% |
| Recurring financial charges | 65 | €2,383 | €1,636 | -€747 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €74,805 | -€115,371 | -€190,176 | |
| Income taxes | 67/77 | €22,551 | -€1 | -€22,552 | |
| Profit (loss) for the period | 9904 | €52,253 | -€115,370 | -€167,624 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,253 | -€115,370 | -€167,624 |
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 29 September 2026 via checked.be.