FRIMAU: what changed
Two financial 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.
FRIMAU
Largest movements
- Receivables within one year +€16,716
up €16,716 (+18.4%), from €91,091 to €107,806
- Cash -€14,106
down €14,106 (-11.4%), from €124,121 to €110,015
mainly Receivables within one year (-€16,716) and Provisions (-€6,529)
- Tangible fixed assets -€6,162
down €6,162 (-3.2%), from €193,091 to €186,929
of which Land and buildings: -€5,296
- Provisions -€6,529
down €6,529 (-15.8%), from €41,424 to €34,895
of which Provisions for liabilities and charges: -€5,149
- Provisions -€5,149
new in 2025: -€5,149
- Gross operating margin -€3,239
down €3,239 (-35.9%), from €9,033 to €5,794
- Taxes +€701
up €701 (+28.2%), from €2,481 to €3,181
- Financial income +€380
up €380 (+6.7%), from €5,698 to €6,078
- Depreciation -€199
down €199 (-2.0%), from €9,812 to €9,613
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 | €408,303 | €404,750 | -€3,553 | -0.9% |
| Fixed assets | 21/28 | €193,091 | €186,929 | -€6,162 | -3.2% |
| Tangible fixed assets | 22/27 | €193,091 | €186,929 | -€6,162 | -3.2% |
| Land and buildings | 22 | €188,446 | €183,150 | -€5,296 | -2.8% |
| Plant, machinery and equipment | 23 | €4,645 | €3,779 | -€866 | -18.7% |
| Current assets | 29/58 | €215,212 | €217,821 | +€2,609 | +1.2% |
| Amounts receivable within one year | 40/41 | €91,091 | €107,806 | +€16,716 | +18.4% |
| Other amounts receivable | 41 | €91,091 | €107,806 | +€16,716 | +18.4% |
| Cash at bank and in hand | 54/58 | €124,121 | €110,015 | -€14,106 | -11.4% |
| Total equity and liabilities | 10/49 | €408,303 | €404,750 | -€3,553 | -0.9% |
| Equity | 10/15 | €364,628 | €366,881 | +€2,252 | +0.6% |
| Contributions | 10/11 | €173,525 | €173,525 | = | 0.0% |
| Capital | 10 | €173,525 | €173,525 | = | 0.0% |
| Issued capital | 100 | €173,525 | €173,525 | = | 0.0% |
| Reserves | 13 | €148,672 | €150,924 | +€2,252 | +1.5% |
| Non-distributable reserves | 130/1 | €5,339 | €5,659 | +€320 | +6.0% |
| Legal reserve | 130 | €5,339 | €5,659 | +€320 | +6.0% |
| Tax-exempt reserves | 132 | €92,116 | €87,973 | -€4,143 | -4.5% |
| Distributable reserves | 133 | €51,217 | €57,292 | +€6,075 | +11.9% |
| Profit (loss) carried forward | 14 | €42,431 | €42,431 | = | 0.0% |
| Provisions and deferred taxes | 16 | €41,424 | €34,895 | -€6,529 | -15.8% |
| Provisions for liabilities and charges | 160/5 | €5,149 | - | -€5,149 | |
| Other liabilities and charges | 164/5 | €5,149 | - | -€5,149 | |
| Deferred taxes | 168 | €36,276 | €34,895 | -€1,381 | -3.8% |
| Amounts payable | 17/49 | €2,250 | €2,975 | +€725 | +32.2% |
| Amounts payable within one year | 42/48 | €2,250 | €2,975 | +€725 | +32.2% |
| Taxes, remuneration and social security | 45 | €2,250 | €2,975 | +€725 | +32.2% |
| Taxes | 450/3 | €2,250 | €2,975 | +€725 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,812 | €9,613 | -€199 | -2.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€5,149 | -€5,149 | |
| Other operating charges | 640/8 | €3,209 | €3,306 | +€97 | +3.0% |
| Non-recurring operating charges | 66A | €534 | - | -€534 | |
| Gross operating margin | 9900 | €9,033 | €5,794 | -€3,239 | -35.9% |
| Operating profit (loss) | 9901 | -€4,522 | -€1,977 | +€2,545 | +56.3% |
| Financial income | 75/76B | €5,698 | €6,078 | +€380 | +6.7% |
| Recurring financial income | 75 | €5,698 | €6,078 | +€380 | +6.7% |
| Financial charges | 65/66B | €117 | €48 | -€69 | -58.8% |
| Recurring financial charges | 65 | €117 | €48 | -€69 | -58.8% |
| Profit (loss) for the period before taxes | 9903 | €1,060 | €4,053 | +€2,993 | +282.5% |
| Transfer from deferred taxes | 780 | €1,348 | €1,381 | +€33 | +2.5% |
| Income taxes | 67/77 | €2,481 | €3,181 | +€701 | +28.2% |
| Profit (loss) for the period | 9904 | -€74 | €2,252 | +€2,326 | |
| Transfer from tax-exempt reserves | 789 | €4,043 | €4,143 | +€100 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,969 | €6,395 | +€2,426 | +61.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.