FRN: 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.
FRN
Largest movements
- Cash +€64,511
up €64,511 (+55.9%), from €115,412 to €179,923
mainly Net result for the year (+€104,214) and Trade debts (+€35,906)
- Receivables after one year +€50,000
up €50,000 (+18.5%), from €270,000 to €320,000
- Receivables within one year +€31,783
up €31,783 (+96.7%), from €32,881 to €64,664
- Reserves +€160,000
up €160,000 (+381.0%), from €42,000 to €202,000
of which Distributable reserves: +€160,000
- Profit (loss) carried forward -€60,787
down €60,787 (-31.2%), from €194,766 to €133,980
- Trade debts +€35,906
up €35,906 (+34.1%), from €105,213 to €141,119
- Tax, wage and social debts +€18,847
up €18,847 (+37.8%), from €49,826 to €68,673
of which Remuneration and social security: +€9,609
- Gross operating margin +€67,580
up €67,580 (+49.1%), from €137,603 to €205,184
- Staff costs +€20,995
up €20,995 (+37.2%), from €56,499 to €77,495
- Taxes +€11,909
up €11,909 (+66.5%), from €17,905 to €29,814
- Other operating charges -€6,236
down €6,236 (-71.5%), from €8,721 to €2,485
- Financial income +€3,930
up €3,930 (+65.4%), from €6,008 to €9,938
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 | €446,958 | €597,582 | +€150,624 | +33.7% |
| Fixed assets | 21/28 | €3,310 | €3,310 | = | 0.0% |
| Financial fixed assets | 28 | €3,310 | €3,310 | = | 0.0% |
| Current assets | 29/58 | €443,648 | €594,272 | +€150,624 | +34.0% |
| Amounts receivable after more than one year | 29 | €270,000 | €320,000 | +€50,000 | +18.5% |
| Other amounts receivable | 291 | €270,000 | €320,000 | +€50,000 | +18.5% |
| Stocks and contracts in progress | 3 | €25,355 | €29,467 | +€4,112 | +16.2% |
| Stocks | 30/36 | €25,355 | €29,467 | +€4,112 | +16.2% |
| Amounts receivable within one year | 40/41 | €32,881 | €64,664 | +€31,783 | +96.7% |
| Other amounts receivable | 41 | €32,881 | €64,664 | +€31,783 | +96.7% |
| Cash at bank and in hand | 54/58 | €115,412 | €179,923 | +€64,511 | +55.9% |
| Deferred charges and accrued income | 490/1 | - | €217 | +€217 | |
| Total equity and liabilities | 10/49 | €446,958 | €597,582 | +€150,624 | +33.7% |
| Equity | 10/15 | €256,766 | €355,980 | +€99,214 | +38.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €42,000 | €202,000 | +€160,000 | +381.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | - | €2,000 | +€2,000 | |
| Distributable reserves | 133 | €40,000 | €200,000 | +€160,000 | +400.0% |
| Profit (loss) carried forward | 14 | €194,766 | €133,980 | -€60,787 | -31.2% |
| Amounts payable | 17/49 | €190,192 | €241,602 | +€51,410 | +27.0% |
| Amounts payable within one year | 42/48 | €190,192 | €241,602 | +€51,410 | +27.0% |
| Trade debts | 44 | €105,213 | €141,119 | +€35,906 | +34.1% |
| Suppliers | 440/4 | €105,213 | €141,119 | +€35,906 | +34.1% |
| Taxes, remuneration and social security | 45 | €49,826 | €68,673 | +€18,847 | +37.8% |
| Taxes | 450/3 | €39,681 | €48,919 | +€9,238 | +23.3% |
| Remuneration and social security | 454/9 | €10,145 | €19,754 | +€9,609 | +94.7% |
| Other amounts payable | 47/48 | €35,153 | €31,810 | -€3,343 | -9.5% |
| Remuneration, social security and pensions | 62 | €56,499 | €77,495 | +€20,995 | +37.2% |
| Other operating charges | 640/8 | €8,721 | €2,485 | -€6,236 | -71.5% |
| Gross operating margin | 9900 | €137,603 | €205,184 | +€67,580 | +49.1% |
| Operating profit (loss) | 9901 | €72,383 | €125,204 | +€52,821 | +73.0% |
| Financial income | 75/76B | €6,008 | €9,938 | +€3,930 | +65.4% |
| Recurring financial income | 75 | €6,008 | €9,938 | +€3,930 | +65.4% |
| Financial charges | 65/66B | €1,064 | €1,115 | +€51 | +4.8% |
| Recurring financial charges | 65 | €1,064 | €1,115 | +€51 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €77,327 | €134,028 | +€56,700 | +73.3% |
| Income taxes | 67/77 | €17,905 | €29,814 | +€11,909 | +66.5% |
| Profit (loss) for the period | 9904 | €59,423 | €104,214 | +€44,791 | +75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,423 | €104,214 | +€44,791 | +75.4% |
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 8 October 2026 via checked.be.