FRNDZ: 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.
FRNDZ
Largest movements
- Tangible fixed assets +€187,676
up €187,676 (+12036.9%), from €1,559 to €189,235
of which Land and buildings: +€174,702
- Cash +€8,578
up €8,578 (+45.6%), from €18,819 to €27,397
mainly Debts after one year (+€143,758) and Net result for the year (+€59,819)
- Receivables within one year +€7,053
up €7,053 (+27.0%), from €26,163 to €33,216
of which Trade receivables: +€7,535
- Debts after one year +€143,758
new in 2025: €143,758
- Profit (loss) carried forward +€59,819
up €59,819 (+206.0%), from €29,040 to €88,859
- Current portion of long-term debt +€5,671
new in 2025: €5,671
- Other debts -€3,114
down €3,114 (-97.3%), from €3,200 to €86
- Gross operating margin +€87,616
up €87,616 (+226.0%), from €38,776 to €126,392
- Other operating charges +€33,561
up €33,561 (+3350.0%), from €1,002 to €34,563
- Taxes +€17,916
up €17,916 (+238.3%), from €7,518 to €25,433
- Financial charges +€3,866
up €3,866 (+338.7%), from €1,142 to €5,008
- Depreciation +€1,495
up €1,495 (+2009.6%), from €74 to €1,569
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 | €46,541 | €252,302 | +€205,761 | +442.1% |
| Fixed assets | 21/28 | €1,559 | €189,235 | +€187,676 | +12036.9% |
| Tangible fixed assets | 22/27 | €1,559 | €189,235 | +€187,676 | +12036.9% |
| Land and buildings | 22 | - | €174,702 | +€174,702 | |
| Furniture and vehicles | 24 | €1,559 | €4,538 | +€2,979 | +191.1% |
| Assets under construction and advance payments | 27 | - | €9,995 | +€9,995 | |
| Current assets | 29/58 | €44,982 | €63,067 | +€18,085 | +40.2% |
| Amounts receivable within one year | 40/41 | €26,163 | €33,216 | +€7,053 | +27.0% |
| Trade receivables | 40 | €25,681 | €33,216 | +€7,535 | +29.3% |
| Other amounts receivable | 41 | €482 | - | -€482 | |
| Cash at bank and in hand | 54/58 | €18,819 | €27,397 | +€8,578 | +45.6% |
| Deferred charges and accrued income | 490/1 | - | €2,454 | +€2,454 | |
| Total equity and liabilities | 10/49 | €46,541 | €252,302 | +€205,761 | +442.1% |
| Equity | 10/15 | €30,540 | €90,359 | +€59,819 | +195.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,040 | €88,859 | +€59,819 | +206.0% |
| Amounts payable | 17/49 | €16,000 | €161,943 | +€145,942 | +912.1% |
| Amounts payable after more than one year | 17 | - | €143,758 | +€143,758 | |
| Financial debts | 170/4 | - | €143,758 | +€143,758 | |
| Amounts payable within one year | 42/48 | €16,000 | €18,185 | +€2,184 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | - | €5,671 | +€5,671 | |
| Trade debts | 44 | €1,010 | €2,531 | +€1,521 | +150.6% |
| Suppliers | 440/4 | €1,010 | €2,531 | +€1,521 | +150.6% |
| Taxes, remuneration and social security | 45 | €11,791 | €9,896 | -€1,894 | -16.1% |
| Taxes | 450/3 | €11,791 | €9,896 | -€1,894 | -16.1% |
| Other amounts payable | 47/48 | €3,200 | €86 | -€3,114 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74 | €1,569 | +€1,495 | +2009.6% |
| Other operating charges | 640/8 | €1,002 | €34,563 | +€33,561 | +3350.0% |
| Gross operating margin | 9900 | €38,776 | €126,392 | +€87,616 | +226.0% |
| Operating profit (loss) | 9901 | €37,700 | €90,260 | +€52,560 | +139.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,142 | €5,008 | +€3,866 | +338.7% |
| Recurring financial charges | 65 | €1,142 | €5,008 | +€3,866 | +338.7% |
| Profit (loss) for the period before taxes | 9903 | €36,558 | €85,252 | +€48,694 | +133.2% |
| Income taxes | 67/77 | €7,518 | €25,433 | +€17,916 | +238.3% |
| Profit (loss) for the period | 9904 | €29,040 | €59,819 | +€30,778 | +106.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,040 | €59,819 | +€30,778 | +106.0% |
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.