FRR: 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.
FRR
Largest movements
- Cash +€27,164
up €27,164 (+114.0%), from €23,829 to €50,993
mainly Other debts (+€42,708) and Net result for the year (+€36,629)
- Tangible fixed assets -€11,185
down €11,185 (-2.8%), from €393,467 to €382,282
- Other debts +€42,708
up €42,708 (+66.9%), from €63,795 to €106,503
- Debts after one year -€18,980
down €18,980 (-11.4%), from €165,887 to €146,907
- Current portion of long-term debt -€11,074
down €11,074 (-36.8%), from €30,054 to €18,980
- Other operating charges -€29,696
down €29,696 (-92.9%), from €31,962 to €2,266
- Gross operating margin +€13,202
up €13,202 (+27.9%), from €47,337 to €60,539
- Financial charges +€2,791
up €2,791 (+37.5%), from €7,441 to €10,232
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 | €418,826 | €435,372 | +€16,547 | +4.0% |
| Fixed assets | 21/28 | €393,467 | €382,282 | -€11,185 | -2.8% |
| Tangible fixed assets | 22/27 | €393,467 | €382,282 | -€11,185 | -2.8% |
| Land and buildings | 22 | €393,467 | €382,282 | -€11,185 | -2.8% |
| Current assets | 29/58 | €25,359 | €53,090 | +€27,732 | +109.4% |
| Amounts receivable within one year | 40/41 | €1,445 | €2,010 | +€565 | +39.1% |
| Trade receivables | 40 | €0 | €405 | +€405 | |
| Other amounts receivable | 41 | €1,445 | €1,605 | +€160 | +11.1% |
| Cash at bank and in hand | 54/58 | €23,829 | €50,993 | +€27,164 | +114.0% |
| Deferred charges and accrued income | 490/1 | €85 | €88 | +€3 | +3.1% |
| Total equity and liabilities | 10/49 | €418,826 | €435,372 | +€16,547 | +4.0% |
| Equity | 10/15 | €158,643 | €161,817 | +€3,174 | +2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €140,043 | €143,217 | +€3,174 | +2.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €140,043 | €143,217 | +€3,174 | +2.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €260,183 | €273,555 | +€13,373 | +5.1% |
| Amounts payable after more than one year | 17 | €165,887 | €146,907 | -€18,980 | -11.4% |
| Financial debts | 170/4 | €165,887 | €146,907 | -€18,980 | -11.4% |
| Amounts payable within one year | 42/48 | €94,296 | €126,648 | +€32,352 | +34.3% |
| Current portion of amounts payable after more than one year | 42 | €30,054 | €18,980 | -€11,074 | -36.8% |
| Trade debts | 44 | €447 | €848 | +€401 | +89.8% |
| Suppliers | 440/4 | €447 | €848 | +€401 | +89.8% |
| Taxes, remuneration and social security | 45 | €0 | €317 | +€317 | |
| Taxes | 450/3 | €0 | €317 | +€317 | |
| Other amounts payable | 47/48 | €63,795 | €106,503 | +€42,708 | +66.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,508 | €11,185 | -€323 | -2.8% |
| Other operating charges | 640/8 | €31,962 | €2,266 | -€29,696 | -92.9% |
| Gross operating margin | 9900 | €47,337 | €60,539 | +€13,202 | +27.9% |
| Operating profit (loss) | 9901 | €3,867 | €47,088 | +€43,221 | +1117.7% |
| Financial income | 75/76B | €82 | €90 | +€8 | +9.6% |
| Recurring financial income | 75 | €82 | €90 | +€8 | +9.6% |
| Financial charges | 65/66B | €7,441 | €10,232 | +€2,791 | +37.5% |
| Recurring financial charges | 65 | €7,441 | €10,232 | +€2,791 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,492 | €36,947 | +€40,438 | |
| Income taxes | 67/77 | €0 | €317 | +€317 | |
| Profit (loss) for the period | 9904 | -€3,492 | €36,629 | +€40,121 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,492 | €36,629 | +€40,121 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.