FROZEN: 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.
FROZEN
Largest movements
- Tangible fixed assets -€45,027
down €45,027 (-12.9%), from €348,026 to €302,999
of which Furniture and vehicles: -€23,853
- Receivables within one year -€21,570
down €21,570 (-38.9%), from €55,443 to €33,873
of which Other amounts receivable: -€21,570
- Cash +€11,244
up €11,244 (+24.3%), from €46,225 to €57,469
mainly Depreciation (+€48,357) and Receivables within one year (+€21,570)
- Debts after one year -€41,447
down €41,447 (-12.6%), from €329,832 to €288,385
- Profit (loss) carried forward -€19,545
down €19,545, from €4,959 to -€14,586
- Gross operating margin -€24,626
down €24,626 (-32.7%), from €75,272 to €50,646
- Financial charges +€12,951
up €12,951 (+84.2%), from €15,377 to €28,327
- Taxes -€2,849
down €2,849 (-39.7%), from €7,183 to €4,334
- Financial income -€1,258
down €1,258 (-8.4%), from €15,049 to €13,791
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 | €609,470 | €553,019 | -€56,451 | -9.3% |
| Fixed assets | 21/28 | €348,026 | €302,999 | -€45,027 | -12.9% |
| Tangible fixed assets | 22/27 | €348,026 | €302,999 | -€45,027 | -12.9% |
| Plant, machinery and equipment | 23 | €5,332 | €3,037 | -€2,295 | -43.0% |
| Furniture and vehicles | 24 | €91,675 | €67,822 | -€23,853 | -26.0% |
| Other tangible fixed assets | 26 | €251,018 | €232,140 | -€18,878 | -7.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €261,444 | €250,020 | -€11,424 | -4.4% |
| Amounts receivable within one year | 40/41 | €55,443 | €33,873 | -€21,570 | -38.9% |
| Trade receivables | 40 | €29,000 | €29,000 | = | 0.0% |
| Other amounts receivable | 41 | €26,443 | €4,873 | -€21,570 | -81.6% |
| Current investments | 50/53 | €155,826 | €154,385 | -€1,440 | -0.9% |
| Cash at bank and in hand | 54/58 | €46,225 | €57,469 | +€11,244 | +24.3% |
| Deferred charges and accrued income | 490/1 | €3,951 | €4,293 | +€342 | +8.7% |
| Total equity and liabilities | 10/49 | €609,470 | €553,019 | -€56,451 | -9.3% |
| Equity | 10/15 | €214,948 | €195,403 | -€19,545 | -9.1% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €89,988 | €89,988 | = | 0.0% |
| Distributable reserves | 133 | €89,988 | €89,988 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,959 | -€14,586 | -€19,545 | |
| Amounts payable | 17/49 | €394,522 | €357,617 | -€36,905 | -9.4% |
| Amounts payable after more than one year | 17 | €329,832 | €288,385 | -€41,447 | -12.6% |
| Financial debts | 170/4 | €329,832 | €288,385 | -€41,447 | -12.6% |
| Amounts payable within one year | 42/48 | €52,690 | €60,773 | +€8,083 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €40,826 | €41,447 | +€621 | +1.5% |
| Trade debts | 44 | €1,779 | €1,735 | -€44 | -2.5% |
| Suppliers | 440/4 | €1,779 | €1,735 | -€44 | -2.5% |
| Taxes, remuneration and social security | 45 | €10,084 | €13,705 | +€3,620 | +35.9% |
| Taxes | 450/3 | €10,084 | €13,705 | +€3,620 | +35.9% |
| Other amounts payable | 47/48 | - | €3,886 | +€3,886 | |
| Accrued charges and deferred income | 492/3 | €12,000 | €8,459 | -€3,541 | -29.5% |
| Remuneration, social security and pensions | 62 | - | €687 | +€687 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,006 | €48,357 | -€648 | -1.3% |
| Other operating charges | 640/8 | €2,534 | €2,276 | -€258 | -10.2% |
| Gross operating margin | 9900 | €75,272 | €50,646 | -€24,626 | -32.7% |
| Operating profit (loss) | 9901 | €23,732 | -€674 | -€24,406 | |
| Financial income | 75/76B | €15,049 | €13,791 | -€1,258 | -8.4% |
| Recurring financial income | 75 | €15,049 | €13,791 | -€1,258 | -8.4% |
| Financial charges | 65/66B | €15,377 | €28,327 | +€12,951 | +84.2% |
| Recurring financial charges | 65 | €15,377 | €28,327 | +€12,951 | +84.2% |
| Profit (loss) for the period before taxes | 9903 | €23,404 | -€15,211 | -€38,615 | |
| Income taxes | 67/77 | €7,183 | €4,334 | -€2,849 | -39.7% |
| Profit (loss) for the period | 9904 | €16,221 | -€19,545 | -€35,766 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,221 | -€19,545 | -€35,766 |
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 11 October 2026 via checked.be.