FRIGAMO: 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.
FRIGAMO
Largest movements
- Current investments +€225,000
new in 2025: €225,000
- Tangible fixed assets -€182,356
down €182,356 (-20.1%), from €908,546 to €726,190
of which Land and buildings: -€175,110
- Cash +€19,235
up €19,235 (+354.6%), from €5,425 to €24,660
mainly Investment in fixed assets (net) (+€147,868) and Net result for the year (+€67,196)
- Profit (loss) carried forward +€76,243
up €76,243, from -€76,243 to €0
- Debts after one year -€16,507
down €16,507 (-3.3%), from €502,553 to €486,045
- Trade debts +€10,809
up €10,809 (+799.3%), from €1,352 to €12,161
- Gross operating margin +€118,687
up €118,687 (+363.1%), from €32,686 to €151,374
- Taxes +€18,000
up €18,000 (+514.3%), from €3,500 to €21,500
- Other operating charges +€12,361
up €12,361 (+150.0%), from €8,240 to €20,601
- Depreciation -€6,400
down €6,400 (-15.7%), from €40,888 to €34,488
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 | €914,707 | €975,850 | +€61,143 | +6.7% |
| Fixed assets | 21/28 | €908,546 | €726,190 | -€182,356 | -20.1% |
| Tangible fixed assets | 22/27 | €908,546 | €726,190 | -€182,356 | -20.1% |
| Land and buildings | 22 | €885,616 | €710,506 | -€175,110 | -19.8% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €22,930 | €15,684 | -€7,246 | -31.6% |
| Current assets | 29/58 | €6,161 | €249,660 | +€243,499 | +3952.2% |
| Amounts receivable within one year | 40/41 | €736 | - | -€736 | |
| Trade receivables | 40 | €736 | - | -€736 | |
| Current investments | 50/53 | - | €225,000 | +€225,000 | |
| Cash at bank and in hand | 54/58 | €5,425 | €24,660 | +€19,235 | +354.6% |
| Total equity and liabilities | 10/49 | €914,707 | €975,850 | +€61,143 | +6.7% |
| Equity | 10/15 | €369,610 | €436,806 | +€67,196 | +18.2% |
| Contributions | 10/11 | €297,472 | €297,472 | = | 0.0% |
| Capital | 10 | - | €297,472 | +€297,472 | |
| Issued capital | 100 | - | €297,472 | +€297,472 | |
| Reserves | 13 | €148,381 | €139,334 | -€9,047 | -6.1% |
| Non-distributable reserves | 130/1 | - | €148 | +€148 | |
| Legal reserve | 130 | - | €148 | +€148 | |
| Tax-exempt reserves | 132 | €57,944 | €45,941 | -€12,003 | -20.7% |
| Distributable reserves | 133 | €90,437 | €93,245 | +€2,808 | +3.1% |
| Profit (loss) carried forward | 14 | -€76,243 | €0 | +€76,243 | |
| Amounts payable | 17/49 | €545,097 | €539,044 | -€6,053 | -1.1% |
| Amounts payable after more than one year | 17 | €502,553 | €486,045 | -€16,507 | -3.3% |
| Financial debts | 170/4 | €502,553 | €486,045 | -€16,507 | -3.3% |
| Amounts payable within one year | 42/48 | €42,544 | €52,999 | +€10,454 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €16,454 | €16,112 | -€342 | -2.1% |
| Trade debts | 44 | €1,352 | €12,161 | +€10,809 | +799.3% |
| Suppliers | 440/4 | €1,352 | €12,161 | +€10,809 | +799.3% |
| Other amounts payable | 47/48 | €24,738 | €24,726 | -€12 | 0.0% |
| Non-recurring operating income | 76A | - | €137,193 | +€137,193 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,888 | €34,488 | -€6,400 | -15.7% |
| Other operating charges | 640/8 | €8,240 | €20,601 | +€12,361 | +150.0% |
| Gross operating margin | 9900 | €32,686 | €151,374 | +€118,687 | +363.1% |
| Operating profit (loss) | 9901 | -€16,442 | €96,285 | +€112,727 | |
| Financial income | 75/76B | €0 | €5 | +€5 | |
| Recurring financial income | 75 | €0 | €5 | +€5 | |
| Financial charges | 65/66B | €6,680 | €7,594 | +€914 | +13.7% |
| Recurring financial charges | 65 | €6,680 | €7,594 | +€914 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | -€23,122 | €88,696 | +€111,818 | |
| Income taxes | 67/77 | €3,500 | €21,500 | +€18,000 | +514.3% |
| Profit (loss) for the period | 9904 | -€26,622 | €67,196 | +€93,818 | |
| Transfer from tax-exempt reserves | 789 | - | €12,003 | +€12,003 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,622 | €79,199 | +€105,821 |
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 1 October 2026 via checked.be.