REFRAME MARKETING: 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.
REFRAME MARKETING
Largest movements
- Tangible fixed assets -€1,975
no longer reported in 2025 (was €1,975)
- Short-term financial debts +€4,079
up €4,079 (+55.6%), from €7,332 to €11,411
- Current portion of long-term debt -€3,683
no longer reported in 2025 (was €3,683)
- Profit (loss) carried forward -€3,661
down €3,661 (-4.8%), from -€76,436 to -€80,097
- Trade debts +€1,289
new in 2025: €1,289
- Gross operating margin -€11,030
down €11,030 (-83.8%), from €13,162 to €2,133
- Depreciation -€5,862
down €5,862 (-74.8%), from €7,838 to €1,975
- Other operating charges +€459
up €459 (+26.4%), from €1,741 to €2,200
- Financial income -€423
no longer reported in 2025 (was €423)
- Financial charges -€220
down €220 (-12.0%), from €1,838 to €1,618
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 | €9,116 | €7,140 | -€1,975 | -21.7% |
| Fixed assets | 21/28 | €1,975 | - | -€1,975 | |
| Tangible fixed assets | 22/27 | €1,975 | - | -€1,975 | |
| Land and buildings | 22 | €1,975 | - | -€1,975 | |
| Current assets | 29/58 | €7,140 | €7,140 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €7,140 | €7,140 | = | 0.0% |
| Total equity and liabilities | 10/49 | €9,116 | €7,140 | -€1,975 | -21.7% |
| Equity | 10/15 | -€60,054 | -€63,714 | -€3,661 | -6.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,983 | €3,983 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,123 | €2,123 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,436 | -€80,097 | -€3,661 | -4.8% |
| Amounts payable | 17/49 | €69,169 | €70,854 | +€1,685 | +2.4% |
| Amounts payable within one year | 42/48 | €69,169 | €70,854 | +€1,685 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €3,683 | - | -€3,683 | |
| Financial debts | 43 | €7,332 | €11,411 | +€4,079 | +55.6% |
| Credit institutions | 430/8 | €7,332 | €11,411 | +€4,079 | +55.6% |
| Trade debts | 44 | - | €1,289 | +€1,289 | |
| Suppliers | 440/4 | - | €1,289 | +€1,289 | |
| Other amounts payable | 47/48 | €58,154 | €58,154 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,838 | €1,975 | -€5,862 | -74.8% |
| Other operating charges | 640/8 | €1,741 | €2,200 | +€459 | +26.4% |
| Gross operating margin | 9900 | €13,162 | €2,133 | -€11,030 | -83.8% |
| Operating profit (loss) | 9901 | €3,584 | -€2,043 | -€5,627 | |
| Financial income | 75/76B | €423 | - | -€423 | |
| Recurring financial income | 75 | €423 | - | -€423 | |
| Financial charges | 65/66B | €1,838 | €1,618 | -€220 | -12.0% |
| Recurring financial charges | 65 | €1,838 | €1,618 | -€220 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €2,169 | -€3,661 | -€5,830 | |
| Profit (loss) for the period | 9904 | €2,169 | -€3,661 | -€5,830 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,169 | -€3,661 | -€5,830 |
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 14 October 2026 via checked.be.