FRUDEL: 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.
FRUDEL
Largest movements
- Current investments +€765,000
up €765,000, from €0 to €765,000
- Cash -€666,242
down €666,242 (-99.2%), from €671,513 to €5,271
mainly Current investments (-€765,000)
- Receivables within one year -€66,899
down €66,899 (-67.0%), from €99,911 to €33,012
of which Other amounts receivable: -€80,110
- Trade debts +€20,404
up €20,404 (+5,382%), from €379 to €20,783
- Reserves +€10,309
up €10,309 (+1.5%), from €707,484 to €717,793
of which Distributable reserves: +€10,309
- Gross operating margin -€9,513
down €9,513 (-91.2%), from €10,435 to €923
- Financial income -€7,512
down €7,512 (-35.1%), from €21,427 to €13,915
- Staff costs -€3,484
down €3,484, from €3,454 to -€30
- Taxes -€3,291
down €3,291 (-48.9%), from €6,727 to €3,436
- Other operating charges -€213
down €213 (-26.8%), from €793 to €580
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 | €771,424 | €803,283 | +€31,859 | +4.1% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €771,424 | €803,283 | +€31,859 | +4.1% |
| Amounts receivable within one year | 40/41 | €99,911 | €33,012 | -€66,899 | -67.0% |
| Trade receivables | 40 | €9,063 | €22,274 | +€13,211 | +146% |
| Other amounts receivable | 41 | €90,848 | €10,738 | -€80,110 | -88.2% |
| Current investments | 50/53 | €0 | €765,000 | +€765,000 | |
| Cash at bank and in hand | 54/58 | €671,513 | €5,271 | -€666,242 | -99.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €771,424 | €803,283 | +€31,859 | +4.1% |
| Equity | 10/15 | €769,457 | €779,766 | +€10,309 | +1.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €707,484 | €717,793 | +€10,309 | +1.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €701,287 | €711,595 | +€10,309 | +1.5% |
| Amounts payable | 17/49 | €1,967 | €23,517 | +€21,550 | +1,096% |
| Amounts payable within one year | 42/48 | €379 | €21,927 | +€21,548 | +5,684% |
| Trade debts | 44 | €379 | €20,783 | +€20,404 | +5,382% |
| Suppliers | 440/4 | €379 | €20,783 | +€20,404 | +5,382% |
| Taxes, remuneration and social security | 45 | €0 | €1,144 | +€1,144 | |
| Taxes | 450/3 | €0 | €1,144 | +€1,144 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,588 | €1,589 | +€2 | +0.1% |
| Non-recurring operating income | 76A | €16,476 | €0 | -€16,476 | -100% |
| Remuneration, social security and pensions | 62 | €3,454 | -€30 | -€3,484 | |
| Other operating charges | 640/8 | €793 | €580 | -€213 | -26.8% |
| Gross operating margin | 9900 | €10,435 | €923 | -€9,513 | -91.2% |
| Operating profit (loss) | 9901 | €6,188 | €372 | -€5,817 | -94.0% |
| Financial income | 75/76B | €21,427 | €13,915 | -€7,512 | -35.1% |
| Recurring financial income | 75 | €21,427 | €13,915 | -€7,512 | -35.1% |
| Financial charges | 65/66B | €708 | €542 | -€166 | -23.5% |
| Recurring financial charges | 65 | €708 | €542 | -€166 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €26,908 | €13,745 | -€13,162 | -48.9% |
| Income taxes | 67/77 | €6,727 | €3,436 | -€3,291 | -48.9% |
| Profit (loss) for the period | 9904 | €20,181 | €10,309 | -€9,872 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,181 | €10,309 | -€9,872 | -48.9% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.