Mr FRANCIS: 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.
Mr FRANCIS
Largest movements
- Cash -€37,458
down €37,458 (-86.4%), from €43,350 to €5,892
mainly Net result for the year (-€21,974) and Stocks and contracts (-€18,004)
- Stocks and contracts +€18,004
up €18,004 (+17.0%), from €105,967 to €123,971
- Tangible fixed assets -€4,555
down €4,555 (-39.5%), from €11,532 to €6,977
of which Furniture and vehicles: -€4,237
- Profit (loss) carried forward -€21,974
down €21,974, from €6,763 to -€15,211
- Debts after one year -€12,794
down €12,794 (-22.0%), from €58,138 to €45,344
- Other debts +€7,859
up €7,859 (+9.7%), from €81,091 to €88,950
- Gross operating margin -€13,352
down €13,352, from €3,856 to -€9,496
- Depreciation -€2,005
down €2,005 (-30.6%), from €6,561 to €4,555
- Financial charges +€601
up €601 (+9.5%), from €6,298 to €6,899
- Other operating charges +€226
up €226 (+28.3%), from €801 to €1,027
- Taxes -€190
down €190 (-100%), from €190 to €0
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 | €192,518 | €166,632 | -€25,886 | -13.4% |
| Fixed assets | 21/28 | €11,532 | €6,977 | -€4,555 | -39.5% |
| Tangible fixed assets | 22/27 | €11,532 | €6,977 | -€4,555 | -39.5% |
| Plant, machinery and equipment | 23 | €1,315 | €997 | -€318 | -24.2% |
| Furniture and vehicles | 24 | €10,218 | €5,980 | -€4,237 | -41.5% |
| Current assets | 29/58 | €180,986 | €159,655 | -€21,331 | -11.8% |
| Stocks and contracts in progress | 3 | €105,967 | €123,971 | +€18,004 | +17.0% |
| Stocks | 30/36 | €105,967 | €123,971 | +€18,004 | +17.0% |
| Amounts receivable within one year | 40/41 | €31,028 | €29,792 | -€1,236 | -4.0% |
| Trade receivables | 40 | €31,028 | €29,582 | -€1,446 | -4.7% |
| Other amounts receivable | 41 | - | €210 | +€210 | |
| Cash at bank and in hand | 54/58 | €43,350 | €5,892 | -€37,458 | -86.4% |
| Deferred charges and accrued income | 490/1 | €641 | €0 | -€641 | -100% |
| Total equity and liabilities | 10/49 | €192,518 | €166,632 | -€25,886 | -13.4% |
| Equity | 10/15 | €10,263 | -€11,711 | -€21,974 | |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,763 | -€15,211 | -€21,974 | |
| Amounts payable | 17/49 | €182,255 | €178,343 | -€3,912 | -2.1% |
| Amounts payable after more than one year | 17 | €58,138 | €45,344 | -€12,794 | -22.0% |
| Financial debts | 170/4 | €58,138 | €45,344 | -€12,794 | -22.0% |
| Amounts payable within one year | 42/48 | €124,084 | €132,999 | +€8,915 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €11,995 | €12,794 | +€799 | +6.7% |
| Trade debts | 44 | €27,742 | €27,663 | -€79 | -0.3% |
| Suppliers | 440/4 | €27,742 | €27,663 | -€79 | -0.3% |
| Taxes, remuneration and social security | 45 | €3,255 | €3,591 | +€336 | +10.3% |
| Taxes | 450/3 | €3,255 | €3,591 | +€336 | +10.3% |
| Other amounts payable | 47/48 | €81,091 | €88,950 | +€7,859 | +9.7% |
| Accrued charges and deferred income | 492/3 | €33 | €0 | -€33 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,561 | €4,555 | -€2,005 | -30.6% |
| Other operating charges | 640/8 | €801 | €1,027 | +€226 | +28.3% |
| Gross operating margin | 9900 | €3,856 | -€9,496 | -€13,352 | |
| Operating profit (loss) | 9901 | -€3,505 | -€15,079 | -€11,573 | -330% |
| Financial income | 75/76B | €3 | €4 | +€2 | +62.4% |
| Recurring financial income | 75 | €3 | €4 | +€2 | +62.4% |
| Financial charges | 65/66B | €6,298 | €6,899 | +€601 | +9.5% |
| Recurring financial charges | 65 | €6,298 | €6,899 | +€601 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,801 | -€21,974 | -€12,173 | -124% |
| Income taxes | 67/77 | €190 | €0 | -€190 | -100% |
| Profit (loss) for the period | 9904 | -€9,991 | -€21,974 | -€11,983 | -120% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,991 | -€21,974 | -€11,983 | -120% |
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 20 October 2026 via checked.be.