FRnEndo: 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.
FRnEndo
Largest movements
- Cash -€151,903
down €151,903 (-79.8%), from €190,465 to €38,563
mainly Contributions, distributions and other (-€120,654) and Other debts (-€111,071)
- Intangible fixed assets -€15,000
down €15,000 (-16.7%), from €90,000 to €75,000
- Tangible fixed assets +€4,932
up €4,932 (+5.1%), from €97,295 to €102,228
of which Plant, machinery and equipment: +€7,012
- Deferred charges and accrued income +€4,420
up €4,420 (+170%), from €2,601 to €7,021
- Other debts -€111,071
down €111,071 (-98.4%), from €112,857 to €1,786
- Current portion of long-term debt -€36,792
down €36,792 (-60.5%), from €60,805 to €24,014
- Reserves -€18,505
down €18,505 (-13.4%), from €138,190 to €119,685
- Gross operating margin +€8,666
up €8,666 (+3.4%), from €255,972 to €264,638
- Depreciation +€8,305
up €8,305 (+17.1%), from €48,512 to €56,817
- Financial charges -€3,032
down €3,032 (-39.3%), from €7,722 to €4,690
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.
Derived cash bridge
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 | €382,221 | €222,811 | -€159,410 | -41.7% |
| Fixed assets | 21/28 | €187,295 | €177,228 | -€10,068 | -5.4% |
| Intangible fixed assets | 21 | €90,000 | €75,000 | -€15,000 | -16.7% |
| Tangible fixed assets | 22/27 | €97,295 | €102,228 | +€4,932 | +5.1% |
| Plant, machinery and equipment | 23 | €92,614 | €99,626 | +€7,012 | +7.6% |
| Furniture and vehicles | 24 | €4,681 | €2,602 | -€2,080 | -44.4% |
| Current assets | 29/58 | €194,925 | €45,583 | -€149,342 | -76.6% |
| Amounts receivable within one year | 40/41 | €1,859 | - | -€1,859 | |
| Other amounts receivable | 41 | €1,859 | - | -€1,859 | |
| Cash at bank and in hand | 54/58 | €190,465 | €38,563 | -€151,903 | -79.8% |
| Deferred charges and accrued income | 490/1 | €2,601 | €7,021 | +€4,420 | +170% |
| Total equity and liabilities | 10/49 | €382,221 | €222,811 | -€159,410 | -41.7% |
| Equity | 10/15 | €141,190 | €122,685 | -€18,505 | -13.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €138,190 | €119,685 | -€18,505 | -13.4% |
| Distributable reserves | 133 | €138,190 | €119,685 | -€18,505 | -13.4% |
| Amounts payable | 17/49 | €241,031 | €100,126 | -€140,905 | -58.5% |
| Amounts payable after more than one year | 17 | €44,772 | €48,201 | +€3,429 | +7.7% |
| Financial debts | 170/4 | €44,772 | €48,201 | +€3,429 | +7.7% |
| Amounts payable within one year | 42/48 | €194,925 | €51,924 | -€143,001 | -73.4% |
| Current portion of amounts payable after more than one year | 42 | €60,805 | €24,014 | -€36,792 | -60.5% |
| Financial debts | 43 | €1,641 | €526 | -€1,115 | -67.9% |
| Credit institutions | 430/8 | €1,641 | €526 | -€1,115 | -67.9% |
| Trade debts | 44 | €10,586 | €13,587 | +€3,001 | +28.3% |
| Suppliers | 440/4 | €10,586 | €13,587 | +€3,001 | +28.3% |
| Taxes, remuneration and social security | 45 | €9,035 | €12,012 | +€2,976 | +32.9% |
| Taxes | 450/3 | €540 | €12,012 | +€11,471 | +2,124% |
| Remuneration and social security | 454/9 | €8,495 | - | -€8,495 | |
| Other amounts payable | 47/48 | €112,857 | €1,786 | -€111,071 | -98.4% |
| Accrued charges and deferred income | 492/3 | €1,333 | - | -€1,333 | |
| Remuneration, social security and pensions | 62 | €70,694 | €70,855 | +€161 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,512 | €56,817 | +€8,305 | +17.1% |
| Other operating charges | 640/8 | €3,733 | €1,646 | -€2,087 | -55.9% |
| Gross operating margin | 9900 | €255,972 | €264,638 | +€8,666 | +3.4% |
| Operating profit (loss) | 9901 | €133,034 | €135,320 | +€2,286 | +1.7% |
| Financial income | 75/76B | €607 | €399 | -€208 | -34.3% |
| Recurring financial income | 75 | €607 | €399 | -€208 | -34.3% |
| Financial charges | 65/66B | €7,722 | €4,690 | -€3,032 | -39.3% |
| Recurring financial charges | 65 | €7,722 | €4,690 | -€3,032 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €125,919 | €131,029 | +€5,110 | +4.1% |
| Income taxes | 67/77 | €28,423 | €28,880 | +€457 | +1.6% |
| Profit (loss) for the period | 9904 | €97,496 | €102,149 | +€4,653 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €97,496 | €102,149 | +€4,653 | +4.8% |
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 15 October 2026 via checked.be.