FROE - FROE: 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.
FROE - FROE
Largest movements
- Cash -€11,716
down €11,716 (-71.9%), from €16,287 to €4,571
mainly Net result for the year (-€21,937) and Receivables within one year (-€575)
- Tangible fixed assets -€1,511
down €1,511 (-40.5%), from €3,729 to €2,218
- Receivables within one year +€575
up €575 (+127%), from €453 to €1,028
- Profit (loss) carried forward -€21,937
down €21,937 (-988%), from -€2,220 to -€24,157
- Other debts +€9,531
up €9,531 (+75.2%), from €12,670 to €22,201
- Gross operating margin +€3,464
up €3,464 (+100%), from €3,459 to €6,923
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 | €31,969 | €19,251 | -€12,717 | -39.8% |
| Fixed assets | 21/28 | €3,729 | €2,218 | -€1,511 | -40.5% |
| Tangible fixed assets | 22/27 | €3,729 | €2,218 | -€1,511 | -40.5% |
| Plant, machinery and equipment | 23 | €1,095 | €355 | -€740 | -67.6% |
| Furniture and vehicles | 24 | €851 | €268 | -€583 | -68.5% |
| Other tangible fixed assets | 26 | €1,783 | €1,595 | -€188 | -10.5% |
| Current assets | 29/58 | €28,240 | €17,033 | -€11,206 | -39.7% |
| Stocks and contracts in progress | 3 | €11,500 | €11,298 | -€202 | -1.8% |
| Stocks | 30/36 | €11,500 | €11,298 | -€202 | -1.8% |
| Amounts receivable within one year | 40/41 | €453 | €1,028 | +€575 | +127% |
| Trade receivables | 40 | €453 | €1,028 | +€575 | +127% |
| Cash at bank and in hand | 54/58 | €16,287 | €4,571 | -€11,716 | -71.9% |
| Deferred charges and accrued income | 490/1 | - | €137 | +€137 | |
| Total equity and liabilities | 10/49 | €31,969 | €19,251 | -€12,717 | -39.8% |
| Equity | 10/15 | €16,372 | -€5,565 | -€21,937 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,220 | -€24,157 | -€21,937 | -988% |
| Amounts payable | 17/49 | €15,597 | €24,816 | +€9,219 | +59.1% |
| Amounts payable within one year | 42/48 | €15,597 | €24,816 | +€9,219 | +59.1% |
| Trade debts | 44 | €1,787 | €1,566 | -€220 | -12.3% |
| Suppliers | 440/4 | €1,787 | €1,566 | -€220 | -12.3% |
| Taxes, remuneration and social security | 45 | €1,141 | €1,050 | -€91 | -8.0% |
| Taxes | 450/3 | €1,141 | €1,050 | -€91 | -8.0% |
| Other amounts payable | 47/48 | €12,670 | €22,201 | +€9,531 | +75.2% |
| Non-recurring operating income | 76A | - | €2,850 | +€2,850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,544 | €1,511 | -€33 | -2.1% |
| Other operating charges | 640/8 | €881 | €904 | +€23 | +2.6% |
| Non-recurring operating charges | 66A | - | €26,372 | +€26,372 | |
| Gross operating margin | 9900 | €3,459 | €6,923 | +€3,464 | +100% |
| Operating profit (loss) | 9901 | €1,034 | -€21,864 | -€22,898 | |
| Financial income | 75/76B | €63 | €109 | +€45 | +71.9% |
| Recurring financial income | 75 | €63 | €109 | +€45 | +71.9% |
| Financial charges | 65/66B | €43 | €43 | = | 0.0% |
| Recurring financial charges | 65 | €43 | €43 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €1,054 | -€21,798 | -€22,852 | |
| Income taxes | 67/77 | €138 | €139 | +€1 | +0.7% |
| Profit (loss) for the period | 9904 | €917 | -€21,937 | -€22,853 | |
| Profit (loss) for the period to be appropriated | 9905 | €917 | -€21,937 | -€22,853 |
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 23 October 2026 via checked.be.