FROVAS: 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.
FROVAS
Largest movements
- Tangible fixed assets -€65,768
down €65,768 (-7.7%), from €850,715 to €784,947
of which Land and buildings: -€38,176
- Cash -€24,541
down €24,541 (-9.8%), from €249,556 to €225,014
mainly Net result for the year (-€79,411) and Tax, wage and social debts (-€19,645)
- Reserves -€168,548
down €168,548 (-19.5%), from €862,719 to €694,172
of which Distributable reserves: -€168,548
- Profit (loss) carried forward +€89,879
no longer reported in 2025 (was -€89,879)
- Tax, wage and social debts -€19,645
down €19,645 (-77.6%), from €25,322 to €5,677
- Gross operating margin +€9,043
up €9,043 (+318.1%), from €2,843 to €11,885
- Other operating charges -€7,401
down €7,401 (-52.2%), from €14,185 to €6,784
- Financial income -€6,509
down €6,509 (-81.6%), from €7,974 to €1,465
- Financial charges -€1,957
down €1,957 (-9.3%), from €21,046 to €19,089
- Depreciation +€714
up €714 (+1.1%), from €65,055 to €65,768
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 | €1,103,212 | €1,012,536 | -€90,676 | -8.2% |
| Fixed assets | 21/28 | €851,393 | €784,947 | -€66,446 | -7.8% |
| Tangible fixed assets | 22/27 | €850,715 | €784,947 | -€65,768 | -7.7% |
| Land and buildings | 22 | €771,081 | €732,905 | -€38,176 | -5.0% |
| Plant, machinery and equipment | 23 | €6,805 | €4,717 | -€2,088 | -30.7% |
| Furniture and vehicles | 24 | €72,829 | €47,325 | -€25,504 | -35.0% |
| Financial fixed assets | 28 | €678 | €0 | -€678 | -100.0% |
| Current assets | 29/58 | €251,818 | €227,589 | -€24,230 | -9.6% |
| Amounts receivable within one year | 40/41 | €1,618 | €1,564 | -€54 | -3.3% |
| Trade receivables | 40 | €1,175 | €0 | -€1,175 | -100.0% |
| Other amounts receivable | 41 | €442 | €1,564 | +€1,122 | +253.5% |
| Cash at bank and in hand | 54/58 | €249,556 | €225,014 | -€24,541 | -9.8% |
| Deferred charges and accrued income | 490/1 | €645 | €1,010 | +€365 | +56.6% |
| Total equity and liabilities | 10/49 | €1,103,212 | €1,012,536 | -€90,676 | -8.2% |
| Equity | 10/15 | €786,350 | €707,682 | -€78,669 | -10.0% |
| Contributions | 10/11 | €13,510 | €13,510 | = | 0.0% |
| Reserves | 13 | €862,719 | €694,172 | -€168,548 | -19.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €742 | €742 | = | 0.0% |
| Distributable reserves | 133 | €861,978 | €693,430 | -€168,548 | -19.6% |
| Profit (loss) carried forward | 14 | -€89,879 | - | +€89,879 | |
| Amounts payable | 17/49 | €316,861 | €304,854 | -€12,007 | -3.8% |
| Amounts payable after more than one year | 17 | €2,634 | €2,634 | = | 0.0% |
| Other amounts payable | 178/9 | €2,634 | €2,634 | = | 0.0% |
| Amounts payable within one year | 42/48 | €314,227 | €302,220 | -€12,007 | -3.8% |
| Trade debts | 44 | €0 | €5,198 | +€5,198 | |
| Suppliers | 440/4 | €0 | €5,198 | +€5,198 | |
| Taxes, remuneration and social security | 45 | €25,322 | €5,677 | -€19,645 | -77.6% |
| Taxes | 450/3 | €25,322 | €5,677 | -€19,645 | -77.6% |
| Other amounts payable | 47/48 | €288,905 | €291,344 | +€2,439 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,055 | €65,768 | +€714 | +1.1% |
| Other operating charges | 640/8 | €14,185 | €6,784 | -€7,401 | -52.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,843 | €11,885 | +€9,043 | +318.1% |
| Operating profit (loss) | 9901 | -€76,397 | -€60,667 | +€15,730 | +20.6% |
| Financial income | 75/76B | €7,974 | €1,465 | -€6,509 | -81.6% |
| Recurring financial income | 75 | €7,974 | €1,465 | -€6,509 | -81.6% |
| Financial charges | 65/66B | €21,046 | €19,089 | -€1,957 | -9.3% |
| Recurring financial charges | 65 | €21,046 | €19,089 | -€1,957 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€89,469 | -€78,290 | +€11,179 | +12.5% |
| Income taxes | 67/77 | €410 | €1,120 | +€710 | +173.0% |
| Profit (loss) for the period | 9904 | -€89,879 | -€79,411 | +€10,469 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,879 | -€79,411 | +€10,469 | +11.6% |
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 30 September 2026 via checked.be.