FRIMAER: 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.
FRIMAER
Largest movements
- Cash -€306,241
down €306,241 (-80.1%), from €382,429 to €76,188
mainly Current investments (-€200,000) and Receivables within one year (-€98,827)
- Current investments +€200,000
new in 2025: €200,000
- Receivables within one year +€98,827
up €98,827 (+389.0%), from €25,408 to €124,236
of which Other amounts receivable: +€98,024
- Receivables after one year -€13,671
down €13,671 (-5.6%), from €244,120 to €230,448
- Tax, wage and social debts -€12,530
down €12,530 (-35.3%), from €35,497 to €22,967
of which Taxes: -€12,530
- Other debts -€10,500
down €10,500 (-29.9%), from €35,075 to €24,575
- Gross operating margin -€12,362
down €12,362 (-25.1%), from €49,244 to €36,882
- Financial income -€7,706
down €7,706 (-34.9%), from €22,064 to €14,358
- Taxes -€5,509
down €5,509 (-29.1%), from €18,914 to €13,405
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 | €662,749 | €641,316 | -€21,433 | -3.2% |
| Fixed assets | 21/28 | €10,792 | €10,444 | -€348 | -3.2% |
| Tangible fixed assets | 22/27 | €10,792 | €10,444 | -€348 | -3.2% |
| Land and buildings | 22 | €10,792 | €10,444 | -€348 | -3.2% |
| Current assets | 29/58 | €651,957 | €630,872 | -€21,085 | -3.2% |
| Amounts receivable after more than one year | 29 | €244,120 | €230,448 | -€13,671 | -5.6% |
| Other amounts receivable | 291 | €244,120 | €230,448 | -€13,671 | -5.6% |
| Amounts receivable within one year | 40/41 | €25,408 | €124,236 | +€98,827 | +389.0% |
| Trade receivables | 40 | €9,644 | €10,448 | +€804 | +8.3% |
| Other amounts receivable | 41 | €15,764 | €113,788 | +€98,024 | +621.8% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €382,429 | €76,188 | -€306,241 | -80.1% |
| Total equity and liabilities | 10/49 | €662,749 | €641,316 | -€21,433 | -3.2% |
| Equity | 10/15 | €591,058 | €592,625 | +€1,568 | +0.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €291,058 | €292,625 | +€1,568 | +0.5% |
| Tax-exempt reserves | 132 | €192,352 | €192,352 | = | 0.0% |
| Distributable reserves | 133 | €98,706 | €100,273 | +€1,568 | +1.6% |
| Amounts payable | 17/49 | €71,691 | €48,691 | -€23,000 | -32.1% |
| Amounts payable within one year | 42/48 | €71,691 | €48,691 | -€23,000 | -32.1% |
| Trade debts | 44 | €1,120 | €1,150 | +€30 | +2.7% |
| Suppliers | 440/4 | €1,120 | €1,150 | +€30 | +2.7% |
| Taxes, remuneration and social security | 45 | €35,497 | €22,967 | -€12,530 | -35.3% |
| Taxes | 450/3 | €34,197 | €21,667 | -€12,530 | -36.6% |
| Remuneration and social security | 454/9 | €1,300 | €1,300 | = | 0.0% |
| Other amounts payable | 47/48 | €35,075 | €24,575 | -€10,500 | -29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €348 | €348 | = | 0.0% |
| Other operating charges | 640/8 | €676 | €834 | +€158 | +23.3% |
| Gross operating margin | 9900 | €49,244 | €36,882 | -€12,362 | -25.1% |
| Operating profit (loss) | 9901 | €48,220 | €35,701 | -€12,519 | -26.0% |
| Financial income | 75/76B | €22,064 | €14,358 | -€7,706 | -34.9% |
| Recurring financial income | 75 | €22,064 | €14,358 | -€7,706 | -34.9% |
| Financial charges | 65/66B | €127 | €87 | -€40 | -31.2% |
| Recurring financial charges | 65 | €127 | €87 | -€40 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €70,158 | €49,972 | -€20,186 | -28.8% |
| Income taxes | 67/77 | €18,914 | €13,405 | -€5,509 | -29.1% |
| Profit (loss) for the period | 9904 | €51,244 | €36,568 | -€14,677 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €51,244 | €36,568 | -€14,677 | -28.6% |
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 3 October 2026 via checked.be.