FRIP TRADING: 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.
FRIP TRADING
Largest movements
- Stocks and contracts -€71,204
down €71,204 (-47.0%), from €151,435 to €80,231
- Receivables within one year +€46,691
up €46,691 (+275.3%), from €16,959 to €63,649
- Cash +€12,608
up €12,608 (+291.1%), from €4,331 to €16,939
mainly Stocks and contracts (+€71,204) and Tax, wage and social debts (+€16,904)
- Tangible fixed assets -€2,684
down €2,684 (-42.3%), from €6,339 to €3,655
of which Furniture and vehicles: -€2,473
- Profit (loss) carried forward -€22,795
down €22,795 (-46.0%), from €49,554 to €26,759
- Tax, wage and social debts +€16,904
up €16,904 (+207.4%), from €8,150 to €25,055
- Trade debts -€13,090
down €13,090 (-11.0%), from €119,011 to €105,921
- Other debts +€4,392
up €4,392 (+185.5%), from €2,368 to €6,760
- Gross operating margin +€3,569
up €3,569 (+32.7%), from €10,903 to €14,471
- Taxes -€2,179
no longer reported in 2025 (was €2,179)
- Other operating charges -€836
down €836 (-41.4%), from €2,020 to €1,184
- Financial charges +€418
up €418 (+157.9%), from €265 to €682
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 | €182,084 | €167,495 | -€14,589 | -8.0% |
| Fixed assets | 21/28 | €9,359 | €6,675 | -€2,684 | -28.7% |
| Tangible fixed assets | 22/27 | €6,339 | €3,655 | -€2,684 | -42.3% |
| Plant, machinery and equipment | 23 | €633 | €422 | -€211 | -33.3% |
| Furniture and vehicles | 24 | €5,706 | €3,233 | -€2,473 | -43.3% |
| Financial fixed assets | 28 | €3,020 | €3,020 | = | 0.0% |
| Current assets | 29/58 | €172,724 | €160,819 | -€11,905 | -6.9% |
| Stocks and contracts in progress | 3 | €151,435 | €80,231 | -€71,204 | -47.0% |
| Stocks | 30/36 | €151,435 | €80,231 | -€71,204 | -47.0% |
| Amounts receivable within one year | 40/41 | €16,959 | €63,649 | +€46,691 | +275.3% |
| Trade receivables | 40 | €16,959 | €63,649 | +€46,691 | +275.3% |
| Cash at bank and in hand | 54/58 | €4,331 | €16,939 | +€12,608 | +291.1% |
| Total equity and liabilities | 10/49 | €182,084 | €167,495 | -€14,589 | -8.0% |
| Equity | 10/15 | €52,554 | €29,759 | -€22,795 | -43.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,554 | €26,759 | -€22,795 | -46.0% |
| Amounts payable | 17/49 | €129,529 | €137,736 | +€8,206 | +6.3% |
| Amounts payable within one year | 42/48 | €129,529 | €137,736 | +€8,206 | +6.3% |
| Trade debts | 44 | €119,011 | €105,921 | -€13,090 | -11.0% |
| Suppliers | 440/4 | €119,011 | €105,921 | -€13,090 | -11.0% |
| Taxes, remuneration and social security | 45 | €8,150 | €25,055 | +€16,904 | +207.4% |
| Taxes | 450/3 | €8,150 | €25,055 | +€16,904 | +207.4% |
| Other amounts payable | 47/48 | €2,368 | €6,760 | +€4,392 | +185.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,684 | €2,684 | = | 0.0% |
| Other operating charges | 640/8 | €2,020 | €1,184 | -€836 | -41.4% |
| Non-recurring operating charges | 66A | - | €32,716 | +€32,716 | |
| Gross operating margin | 9900 | €10,903 | €14,471 | +€3,569 | +32.7% |
| Operating profit (loss) | 9901 | €6,198 | -€22,113 | -€28,311 | |
| Financial charges | 65/66B | €265 | €682 | +€418 | +157.9% |
| Recurring financial charges | 65 | €265 | €682 | +€418 | +157.9% |
| Profit (loss) for the period before taxes | 9903 | €5,934 | -€22,795 | -€28,729 | |
| Income taxes | 67/77 | €2,179 | - | -€2,179 | |
| Profit (loss) for the period | 9904 | €3,755 | -€22,795 | -€26,550 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,755 | -€22,795 | -€26,550 |
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 5 October 2026 via checked.be.