FRUDEX: 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.
FRUDEX
Largest movements
- Tangible fixed assets -€14,390
down €14,390 (-6.2%), from €232,724 to €218,334
of which Land and buildings: -€11,486
- Receivables within one year +€13,932
up €13,932 (+19.8%), from €70,311 to €84,243
of which Other amounts receivable: +€15,324
- Short-term financial debts -€4,549
no longer reported in 2025 (was €4,549)
- Profit (loss) carried forward +€3,626
up €3,626 (+1.8%), from €200,494 to €204,121
- Gross operating margin +€6,450
up €6,450 (+40.6%), from €15,901 to €22,352
- Financial income -€3,742
down €3,742 (-100.0%), from €3,743 to €1
- Other operating charges +€1,338
up €1,338 (+56.3%), from €2,378 to €3,716
- Depreciation +€486
up €486 (+3.5%), from €13,904 to €14,390
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 | €303,582 | €306,660 | +€3,078 | +1.0% |
| Fixed assets | 21/28 | €232,824 | €218,434 | -€14,390 | -6.2% |
| Tangible fixed assets | 22/27 | €232,724 | €218,334 | -€14,390 | -6.2% |
| Land and buildings | 22 | €221,101 | €209,615 | -€11,486 | -5.2% |
| Plant, machinery and equipment | 23 | €9,597 | €8,153 | -€1,444 | -15.0% |
| Furniture and vehicles | 24 | €568 | €148 | -€420 | -73.9% |
| Leasing and similar rights | 25 | €1,457 | €417 | -€1,040 | -71.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €70,758 | €88,226 | +€17,469 | +24.7% |
| Amounts receivable within one year | 40/41 | €70,311 | €84,243 | +€13,932 | +19.8% |
| Trade receivables | 40 | €3,993 | €2,602 | -€1,392 | -34.8% |
| Other amounts receivable | 41 | €66,318 | €81,641 | +€15,324 | +23.1% |
| Cash at bank and in hand | 54/58 | - | €2,870 | +€2,870 | |
| Deferred charges and accrued income | 490/1 | €447 | €1,113 | +€666 | +149.0% |
| Total equity and liabilities | 10/49 | €303,582 | €306,660 | +€3,078 | +1.0% |
| Equity | 10/15 | €295,917 | €299,543 | +€3,626 | +1.2% |
| Contributions | 10/11 | €52,058 | €52,058 | = | 0.0% |
| Reserves | 13 | €43,365 | €43,365 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,206 | €5,206 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,206 | €5,206 | = | 0.0% |
| Tax-exempt reserves | 132 | €38,159 | €38,159 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,494 | €204,121 | +€3,626 | +1.8% |
| Amounts payable | 17/49 | €7,665 | €7,117 | -€548 | -7.1% |
| Amounts payable within one year | 42/48 | €5,458 | €2,122 | -€3,336 | -61.1% |
| Financial debts | 43 | €4,549 | - | -€4,549 | |
| Other loans | 439 | €4,549 | - | -€4,549 | |
| Trade debts | 44 | €909 | €691 | -€218 | -24.0% |
| Suppliers | 440/4 | €909 | €691 | -€218 | -24.0% |
| Taxes, remuneration and social security | 45 | - | €1,431 | +€1,431 | |
| Taxes | 450/3 | - | €1,431 | +€1,431 | |
| Accrued charges and deferred income | 492/3 | €2,207 | €4,995 | +€2,788 | +126.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,904 | €14,390 | +€486 | +3.5% |
| Other operating charges | 640/8 | €2,378 | €3,716 | +€1,338 | +56.3% |
| Gross operating margin | 9900 | €15,901 | €22,352 | +€6,450 | +40.6% |
| Operating profit (loss) | 9901 | -€381 | €4,245 | +€4,626 | |
| Financial income | 75/76B | €3,743 | €1 | -€3,742 | -100.0% |
| Recurring financial income | 75 | €3,743 | €1 | -€3,742 | -100.0% |
| Financial charges | 65/66B | €646 | €531 | -€114 | -17.7% |
| Recurring financial charges | 65 | €646 | €531 | -€114 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €2,716 | €3,714 | +€998 | +36.8% |
| Income taxes | 67/77 | - | €88 | +€88 | |
| Profit (loss) for the period | 9904 | €2,716 | €3,626 | +€910 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,716 | €3,626 | +€910 | +33.5% |
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 5 October 2026 via checked.be.