FROIDMANTEAU: 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.
FROIDMANTEAU
Largest movements
- Stocks and contracts -€10,809
down €10,809 (-27.3%), from €39,527 to €28,718
of which Contracts in progress: -€8,684
- Receivables within one year +€5,680
up €5,680 (+43.7%), from €12,994 to €18,675
of which Trade receivables: +€6,262
- Tangible fixed assets -€5,646
down €5,646 (-48.2%), from €11,713 to €6,067
of which Furniture and vehicles: -€5,456
- Cash +€894
up €894 (+3.6%), from €24,730 to €25,624
mainly Stocks and contracts (+€10,809) and Net result for the year (+€6,818)
- Trade debts -€16,420
down €16,420 (-99.0%), from €16,588 to €168
- Profit (loss) carried forward +€6,818
up €6,818 (+18.9%), from €36,036 to €42,853
- Gross operating margin -€5,466
down €5,466 (-24.3%), from €22,473 to €17,006
- Taxes -€1,152
down €1,152 (-28.1%), from €4,103 to €2,951
- Other operating charges +€227
up €227 (+18.1%), from €1,257 to €1,484
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 | €89,240 | €79,436 | -€9,804 | -11.0% |
| Fixed assets | 21/28 | €11,810 | €6,164 | -€5,646 | -47.8% |
| Tangible fixed assets | 22/27 | €11,713 | €6,067 | -€5,646 | -48.2% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €801 | €611 | -€190 | -23.7% |
| Furniture and vehicles | 24 | €10,912 | €5,456 | -€5,456 | -50.0% |
| Financial fixed assets | 28 | €97 | €97 | = | 0.0% |
| Current assets | 29/58 | €77,430 | €73,272 | -€4,158 | -5.4% |
| Stocks and contracts in progress | 3 | €39,527 | €28,718 | -€10,809 | -27.3% |
| Stocks | 30/36 | €20,379 | €18,254 | -€2,125 | -10.4% |
| Contracts in progress | 37 | €19,148 | €10,464 | -€8,684 | -45.4% |
| Amounts receivable within one year | 40/41 | €12,994 | €18,675 | +€5,680 | +43.7% |
| Trade receivables | 40 | €10,213 | €16,475 | +€6,262 | +61.3% |
| Other amounts receivable | 41 | €2,781 | €2,200 | -€581 | -20.9% |
| Cash at bank and in hand | 54/58 | €24,730 | €25,624 | +€894 | +3.6% |
| Deferred charges and accrued income | 490/1 | €179 | €255 | +€76 | +42.7% |
| Total equity and liabilities | 10/49 | €89,240 | €79,436 | -€9,804 | -11.0% |
| Equity | 10/15 | €59,190 | €66,008 | +€6,818 | +11.5% |
| Contributions | 10/11 | €12,676 | €12,676 | = | 0.0% |
| Reserves | 13 | €10,478 | €10,478 | = | 0.0% |
| Distributable reserves | 133 | €10,478 | €10,478 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,036 | €42,853 | +€6,818 | +18.9% |
| Amounts payable | 17/49 | €30,050 | €13,428 | -€16,622 | -55.3% |
| Amounts payable within one year | 42/48 | €30,050 | €13,428 | -€16,622 | -55.3% |
| Trade debts | 44 | €16,588 | €168 | -€16,420 | -99.0% |
| Suppliers | 440/4 | €16,588 | €168 | -€16,420 | -99.0% |
| Taxes, remuneration and social security | 45 | €10,914 | €10,612 | -€302 | -2.8% |
| Taxes | 450/3 | €8,414 | €10,612 | +€2,198 | +26.1% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €2,548 | €2,648 | +€100 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,605 | €5,646 | +€41 | +0.7% |
| Other operating charges | 640/8 | €1,257 | €1,484 | +€227 | +18.1% |
| Gross operating margin | 9900 | €22,473 | €17,006 | -€5,466 | -24.3% |
| Operating profit (loss) | 9901 | €15,611 | €9,876 | -€5,735 | -36.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -62.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -62.5% |
| Financial charges | 65/66B | €120 | €108 | -€12 | -9.9% |
| Recurring financial charges | 65 | €120 | €108 | -€12 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €15,491 | €9,768 | -€5,723 | -36.9% |
| Income taxes | 67/77 | €4,103 | €2,951 | -€1,152 | -28.1% |
| Profit (loss) for the period | 9904 | €11,388 | €6,818 | -€4,571 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,388 | €6,818 | -€4,571 | -40.1% |
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 18 October 2026 via checked.be.