FRIDES: 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.
FRIDES
Largest movements
- Tangible fixed assets +€8,486
up €8,486 (+7.7%), from €110,351 to €118,837
of which Land and buildings: +€8,840
- Cash +€4,843
up €4,843 (+11.9%), from €40,864 to €45,707
mainly Net result for the year (+€14,257) and Depreciation (+€13,055)
- Reserves +€14,257
up €14,257 (+9.5%), from €150,153 to €164,410
- Gross operating margin -€3,440
down €3,440 (-8.1%), from €42,265 to €38,825
- Depreciation +€1,237
up €1,237 (+10.5%), from €11,818 to €13,055
- Taxes -€1,093
down €1,093 (-13.9%), from €7,867 to €6,774
- Other operating charges -€1,093
down €1,093 (-19.4%), from €5,631 to €4,539
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 | €322,380 | €337,204 | +€14,824 | +4.6% |
| Fixed assets | 21/28 | €110,351 | €118,837 | +€8,486 | +7.7% |
| Tangible fixed assets | 22/27 | €110,351 | €118,837 | +€8,486 | +7.7% |
| Land and buildings | 22 | €104,503 | €113,343 | +€8,840 | +8.5% |
| Plant, machinery and equipment | 23 | €5,848 | €5,494 | -€354 | -6.1% |
| Current assets | 29/58 | €212,029 | €218,367 | +€6,339 | +3.0% |
| Amounts receivable within one year | 40/41 | €753 | €2,226 | +€1,473 | +195.7% |
| Other amounts receivable | 41 | €753 | €2,226 | +€1,473 | +195.7% |
| Current investments | 50/53 | €170,000 | €170,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €40,864 | €45,707 | +€4,843 | +11.9% |
| Deferred charges and accrued income | 490/1 | €411 | €434 | +€23 | +5.5% |
| Total equity and liabilities | 10/49 | €322,380 | €337,204 | +€14,824 | +4.6% |
| Equity | 10/15 | €183,153 | €197,410 | +€14,257 | +7.8% |
| Contributions | 10/11 | €33,000 | €33,000 | = | 0.0% |
| Reserves | 13 | €150,153 | €164,410 | +€14,257 | +9.5% |
| Distributable reserves | 133 | €150,153 | €164,410 | +€14,257 | +9.5% |
| Amounts payable | 17/49 | €139,227 | €139,794 | +€568 | +0.4% |
| Amounts payable within one year | 42/48 | €138,918 | €139,486 | +€568 | +0.4% |
| Trade debts | 44 | €41 | €91 | +€50 | +121.1% |
| Suppliers | 440/4 | €41 | €91 | +€50 | +121.1% |
| Taxes, remuneration and social security | 45 | €867 | €867 | = | 0.0% |
| Taxes | 450/3 | €867 | €867 | = | 0.0% |
| Other amounts payable | 47/48 | €138,010 | €138,528 | +€518 | +0.4% |
| Accrued charges and deferred income | 492/3 | €309 | €309 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,818 | €13,055 | +€1,237 | +10.5% |
| Other operating charges | 640/8 | €5,631 | €4,539 | -€1,093 | -19.4% |
| Gross operating margin | 9900 | €42,265 | €38,825 | -€3,440 | -8.1% |
| Operating profit (loss) | 9901 | €24,815 | €21,232 | -€3,584 | -14.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €167 | €201 | +€34 | +20.5% |
| Recurring financial charges | 65 | €167 | €201 | +€34 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €24,648 | €21,031 | -€3,618 | -14.7% |
| Income taxes | 67/77 | €7,867 | €6,774 | -€1,093 | -13.9% |
| Profit (loss) for the period | 9904 | €16,781 | €14,257 | -€2,524 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,781 | €14,257 | -€2,524 | -15.0% |
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 29 September 2026 via checked.be.