FRW Consulting: 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.
FRW Consulting
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€53,291
up €53,291 (+60.9%), from €87,518 to €140,808
- Other debts -€35,387
down €35,387 (-34.3%), from €103,091 to €67,704
- Debts after one year -€27,163
down €27,163 (-9.4%), from €289,428 to €262,266
- Tax, wage and social debts +€9,780
up €9,780 (+27.0%), from €36,224 to €46,004
of which Taxes: +€9,780
- Accrued charges and deferred income +€5,903
new in 2025: €5,903
- Gross operating margin +€7,532
up €7,532 (+9.2%), from €81,725 to €89,257
- Financial charges +€6,290
up €6,290 (+73.6%), from €8,547 to €14,838
- Taxes +€1,548
up €1,548 (+8.4%), from €18,342 to €19,890
- Other operating charges +€1,089
up €1,089 (+6,808%), from €16 to €1,105
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 | €549,656 | €561,782 | +€12,125 | +2.2% |
| Fixed assets | 21/28 | €521,500 | €525,205 | +€3,705 | +0.7% |
| Tangible fixed assets | 22/27 | - | €3,705 | +€3,705 | |
| Leasing and similar rights | 25 | - | €3,705 | +€3,705 | |
| Financial fixed assets | 28 | €521,500 | €521,500 | = | 0.0% |
| Current assets | 29/58 | €28,156 | €36,576 | +€8,420 | +29.9% |
| Amounts receivable within one year | 40/41 | €10,921 | €13,945 | +€3,025 | +27.7% |
| Trade receivables | 40 | €10,921 | €13,945 | +€3,025 | +27.7% |
| Cash at bank and in hand | 54/58 | €17,236 | €21,310 | +€4,074 | +23.6% |
| Deferred charges and accrued income | 490/1 | - | €1,322 | +€1,322 | |
| Total equity and liabilities | 10/49 | €549,656 | €561,782 | +€12,125 | +2.2% |
| Equity | 10/15 | €90,518 | €143,808 | +€53,291 | +58.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €87,518 | €140,808 | +€53,291 | +60.9% |
| Distributable reserves | 133 | €87,518 | €140,808 | +€53,291 | +60.9% |
| Amounts payable | 17/49 | €459,139 | €417,973 | -€41,165 | -9.0% |
| Amounts payable after more than one year | 17 | €289,428 | €262,266 | -€27,163 | -9.4% |
| Financial debts | 170/4 | €289,428 | €262,266 | -€27,163 | -9.4% |
| Amounts payable within one year | 42/48 | €169,710 | €149,805 | -€19,905 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €28,211 | €30,721 | +€2,511 | +8.9% |
| Trade debts | 44 | €2,185 | €5,375 | +€3,190 | +146% |
| Suppliers | 440/4 | €2,185 | €5,375 | +€3,190 | +146% |
| Taxes, remuneration and social security | 45 | €36,224 | €46,004 | +€9,780 | +27.0% |
| Taxes | 450/3 | €35,099 | €44,879 | +€9,780 | +27.9% |
| Remuneration and social security | 454/9 | €1,125 | €1,125 | = | 0.0% |
| Other amounts payable | 47/48 | €103,091 | €67,704 | -€35,387 | -34.3% |
| Accrued charges and deferred income | 492/3 | - | €5,903 | +€5,903 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €133 | +€133 | |
| Other operating charges | 640/8 | €16 | €1,105 | +€1,089 | +6,808% |
| Gross operating margin | 9900 | €81,725 | €89,257 | +€7,532 | +9.2% |
| Operating profit (loss) | 9901 | €81,709 | €88,019 | +€6,309 | +7.7% |
| Financial charges | 65/66B | €8,547 | €14,838 | +€6,290 | +73.6% |
| Recurring financial charges | 65 | €8,547 | €14,838 | +€6,290 | +73.6% |
| Profit (loss) for the period before taxes | 9903 | €73,162 | €73,181 | +€19 | 0.0% |
| Income taxes | 67/77 | €18,342 | €19,890 | +€1,548 | +8.4% |
| Profit (loss) for the period | 9904 | €54,820 | €53,291 | -€1,529 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,820 | €53,291 | -€1,529 | -2.8% |
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 28 October 2026 via checked.be.