FRONT PARTNERS: 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.
FRONT PARTNERS
Largest movements
- Cash -€456,990
down €456,990 (-51.2%), from €892,672 to €435,683
mainly Current investments (-€329,293) and Receivables within one year (-€217,459)
- Current investments +€329,293
up €329,293 (+14.1%), from €2.3m to €2.7m
- Receivables within one year +€217,459
up €217,459 (+39.1%), from €555,637 to €773,096
of which Trade receivables: +€225,735
- Intangible fixed assets +€53,009
up €53,009 (+142%), from €37,219 to €90,228
- Profit (loss) carried forward +€122,228
up €122,228 (+6.1%), from -€2.0m to -€1.9m
- Financial charges -€777,516
down €777,516, from €454,326 to -€323,190
- Gross operating margin +€119,460
up €119,460 (+48.0%), from -€248,991 to -€129,531
- Financial income -€116,670
down €116,670 (-42.3%), from €276,103 to €159,433
- Depreciation +€83,372
up €83,372 (+164%), from €50,938 to €134,310
- Staff costs -€3,005
down €3,005 (-3.2%), from €94,468 to €91,463
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 | €4,068,980 | €4,210,804 | +€141,825 | +3.5% |
| Fixed assets | 21/28 | €274,995 | €311,052 | +€36,057 | +13.1% |
| Intangible fixed assets | 21 | €37,219 | €90,228 | +€53,009 | +142% |
| Tangible fixed assets | 22/27 | €166,607 | €131,383 | -€35,223 | -21.1% |
| Furniture and vehicles | 24 | €149,645 | €115,848 | -€33,797 | -22.6% |
| Other tangible fixed assets | 26 | €16,962 | €15,536 | -€1,426 | -8.4% |
| Financial fixed assets | 28 | €71,169 | €89,440 | +€18,271 | +25.7% |
| Current assets | 29/58 | €3,793,984 | €3,899,752 | +€105,768 | +2.8% |
| Amounts receivable within one year | 40/41 | €555,637 | €773,096 | +€217,459 | +39.1% |
| Trade receivables | 40 | €47,449 | €273,184 | +€225,735 | +476% |
| Other amounts receivable | 41 | €508,188 | €499,912 | -€8,276 | -1.6% |
| Current investments | 50/53 | €2,338,262 | €2,667,555 | +€329,293 | +14.1% |
| Cash at bank and in hand | 54/58 | €892,672 | €435,683 | -€456,990 | -51.2% |
| Deferred charges and accrued income | 490/1 | €7,413 | €23,419 | +€16,006 | +216% |
| Total equity and liabilities | 10/49 | €4,068,980 | €4,210,804 | +€141,825 | +3.5% |
| Equity | 10/15 | €3,874,604 | €3,996,833 | +€122,228 | +3.2% |
| Contributions | 10/11 | €5,700,000 | €5,700,000 | = | 0.0% |
| Capital | 10 | €5,700,000 | €5,700,000 | = | 0.0% |
| Issued capital | 100 | €5,700,000 | €5,700,000 | = | 0.0% |
| Reserves | 13 | €181,285 | €181,285 | = | 0.0% |
| Non-distributable reserves | 130/1 | €181,285 | €181,285 | = | 0.0% |
| Legal reserve | 130 | €181,285 | €181,285 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,006,681 | -€1,884,453 | +€122,228 | +6.1% |
| Amounts payable | 17/49 | €194,375 | €213,971 | +€19,596 | +10.1% |
| Amounts payable within one year | 42/48 | €188,385 | €207,234 | +€18,849 | +10.0% |
| Trade debts | 44 | €119,838 | €154,412 | +€34,573 | +28.8% |
| Suppliers | 440/4 | €119,838 | €154,412 | +€34,573 | +28.8% |
| Taxes, remuneration and social security | 45 | €68,547 | €52,822 | -€15,725 | -22.9% |
| Taxes | 450/3 | €17,396 | €13,228 | -€4,168 | -24.0% |
| Remuneration and social security | 454/9 | €51,151 | €39,595 | -€11,557 | -22.6% |
| Accrued charges and deferred income | 492/3 | €5,990 | €6,737 | +€748 | +12.5% |
| Remuneration, social security and pensions | 62 | €94,468 | €91,463 | -€3,005 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,938 | €134,310 | +€83,372 | +164% |
| Other operating charges | 640/8 | €5,182 | €5,090 | -€92 | -1.8% |
| Gross operating margin | 9900 | -€248,991 | -€129,531 | +€119,460 | +48.0% |
| Operating profit (loss) | 9901 | -€399,580 | -€360,395 | +€39,186 | +9.8% |
| Financial income | 75/76B | €276,103 | €159,433 | -€116,670 | -42.3% |
| Recurring financial income | 75 | €276,103 | €159,433 | -€116,670 | -42.3% |
| Financial charges | 65/66B | €454,326 | -€323,190 | -€777,516 | |
| Recurring financial charges | 65 | €454,326 | -€323,190 | -€777,516 | |
| Profit (loss) for the period before taxes | 9903 | -€577,803 | €122,228 | +€700,031 | |
| Profit (loss) for the period | 9904 | -€577,803 | €122,228 | +€700,031 | |
| Profit (loss) for the period to be appropriated | 9905 | -€577,803 | €122,228 | +€700,031 |
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 27 October 2026 via checked.be.