FRZ: 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.
FRZ
Largest movements
- Cash +€17,919
up €17,919 (+58.8%), from €30,496 to €48,415
mainly Net result for the year (+€16,223) and Other debts (+€10,000)
- Receivables within one year +€6,363
up €6,363 (+108%), from €5,885 to €12,247
of which Trade receivables: +€11,419
- Tangible fixed assets -€2,253
down €2,253 (-15.4%), from €14,633 to €12,380
- Other debts +€10,000
new in 2025: €10,000
- Profit (loss) carried forward +€6,223
up €6,223 (+26.6%), from €23,375 to €29,597
- Tax, wage and social debts +€2,793
up €2,793 (+40.1%), from €6,961 to €9,754
of which Remuneration and social security: +€2,288
- Trade debts +€1,513
up €1,513 (+18.5%), from €8,187 to €9,700
- Accrued charges and deferred income +€1,391
new in 2025: €1,391
- Gross operating margin +€15,688
up €15,688 (+18.4%), from €85,131 to €100,820
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 | €51,223 | €73,142 | +€21,919 | +42.8% |
| Fixed assets | 21/28 | €14,733 | €12,480 | -€2,253 | -15.3% |
| Tangible fixed assets | 22/27 | €14,633 | €12,380 | -€2,253 | -15.4% |
| Furniture and vehicles | 24 | €14,633 | €12,380 | -€2,253 | -15.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €36,490 | €60,662 | +€24,172 | +66.2% |
| Amounts receivable within one year | 40/41 | €5,885 | €12,247 | +€6,363 | +108% |
| Trade receivables | 40 | - | €11,419 | +€11,419 | |
| Other amounts receivable | 41 | €5,885 | €828 | -€5,056 | -85.9% |
| Cash at bank and in hand | 54/58 | €30,496 | €48,415 | +€17,919 | +58.8% |
| Deferred charges and accrued income | 490/1 | €109 | - | -€109 | |
| Total equity and liabilities | 10/49 | €51,223 | €73,142 | +€21,919 | +42.8% |
| Equity | 10/15 | €36,075 | €42,297 | +€6,223 | +17.2% |
| Contributions | 10/11 | €12,700 | €12,700 | = | 0.0% |
| Capital | 10 | €12,700 | - | -€12,700 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €5,900 | - | -€5,900 | |
| Profit (loss) carried forward | 14 | €23,375 | €29,597 | +€6,223 | +26.6% |
| Amounts payable | 17/49 | €15,149 | €30,845 | +€15,696 | +104% |
| Amounts payable within one year | 42/48 | €15,149 | €29,454 | +€14,305 | +94.4% |
| Trade debts | 44 | €8,187 | €9,700 | +€1,513 | +18.5% |
| Suppliers | 440/4 | €8,187 | €9,700 | +€1,513 | +18.5% |
| Taxes, remuneration and social security | 45 | €6,961 | €9,754 | +€2,793 | +40.1% |
| Taxes | 450/3 | €2,634 | €3,139 | +€504 | +19.1% |
| Remuneration and social security | 454/9 | €4,327 | €6,615 | +€2,288 | +52.9% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,391 | +€1,391 | |
| Non-recurring operating income | 76A | - | €139 | +€139 | |
| Remuneration, social security and pensions | 62 | €79,719 | €80,512 | +€793 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,253 | €2,253 | = | 0.0% |
| Other operating charges | 640/8 | €1,179 | €757 | -€423 | -35.8% |
| Gross operating margin | 9900 | €85,131 | €100,820 | +€15,688 | +18.4% |
| Operating profit (loss) | 9901 | €1,980 | €17,298 | +€15,318 | +774% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €101 | €170 | +€69 | +67.8% |
| Recurring financial charges | 65 | €101 | €170 | +€69 | +67.8% |
| Profit (loss) for the period before taxes | 9903 | €1,878 | €17,129 | +€15,250 | +812% |
| Income taxes | 67/77 | €231 | €906 | +€675 | +293% |
| Profit (loss) for the period | 9904 | €1,648 | €16,223 | +€14,575 | +885% |
| Profit (loss) for the period to be appropriated | 9905 | €1,648 | €16,223 | +€14,575 | +885% |
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 18 October 2026 via checked.be.