S. FRANKEN: 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.
S. FRANKEN
Largest movements
- Tangible fixed assets -€40,584
down €40,584 (-7.7%), from €524,994 to €484,411
- Receivables within one year -€14,479
down €14,479 (-31.1%), from €46,575 to €32,095
of which Other amounts receivable: -€14,819
- Debts after one year -€99,739
down €99,739 (-20.0%), from €498,937 to €399,199
- Reserves +€43,245
up €43,245 (+16.7%), from €259,406 to €302,651
of which Distributable reserves: +€45,105
- Gross operating margin -€4,353
down €4,353 (-3.5%), from €125,522 to €121,169
- Financial charges -€3,495
down €3,495 (-15.5%), from €22,513 to €19,018
- Taxes -€2,399
down €2,399 (-17.4%), from €13,804 to €11,405
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 | €993,453 | €940,843 | -€52,610 | -5.3% |
| Fixed assets | 21/28 | €924,994 | €884,411 | -€40,584 | -4.4% |
| Tangible fixed assets | 22/27 | €524,994 | €484,411 | -€40,584 | -7.7% |
| Land and buildings | 22 | €524,994 | €484,411 | -€40,584 | -7.7% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €68,459 | €56,432 | -€12,026 | -17.6% |
| Amounts receivable within one year | 40/41 | €46,575 | €32,095 | -€14,479 | -31.1% |
| Trade receivables | 40 | €381 | €720 | +€339 | +89.1% |
| Other amounts receivable | 41 | €46,194 | €31,376 | -€14,819 | -32.1% |
| Cash at bank and in hand | 54/58 | €21,884 | €24,337 | +€2,453 | +11.2% |
| Total equity and liabilities | 10/49 | €993,453 | €940,843 | -€52,610 | -5.3% |
| Equity | 10/15 | €271,906 | €317,011 | +€45,105 | +16.6% |
| Contributions | 10/11 | €12,500 | €14,360 | +€1,860 | +14.9% |
| Reserves | 13 | €259,406 | €302,651 | +€43,245 | +16.7% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €257,546 | €302,651 | +€45,105 | +17.5% |
| Amounts payable | 17/49 | €721,547 | €623,833 | -€97,715 | -13.5% |
| Amounts payable after more than one year | 17 | €498,937 | €399,199 | -€99,739 | -20.0% |
| Financial debts | 170/4 | €498,937 | €399,199 | -€99,739 | -20.0% |
| Amounts payable within one year | 42/48 | €222,610 | €224,634 | +€2,024 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €96,082 | €99,739 | +€3,657 | +3.8% |
| Trade debts | 44 | - | €1,697 | +€1,697 | |
| Suppliers | 440/4 | - | €1,697 | +€1,697 | |
| Taxes, remuneration and social security | 45 | €18,291 | €10,917 | -€7,374 | -40.3% |
| Taxes | 450/3 | €14,383 | €10,917 | -€3,466 | -24.1% |
| Remuneration and social security | 454/9 | €3,908 | €0 | -€3,908 | -100% |
| Other amounts payable | 47/48 | €108,237 | €112,282 | +€4,044 | +3.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €968 | €0 | -€968 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,584 | €40,584 | -€0 | 0.0% |
| Other operating charges | 640/8 | €4,848 | €5,058 | +€209 | +4.3% |
| Gross operating margin | 9900 | €125,522 | €121,169 | -€4,353 | -3.5% |
| Operating profit (loss) | 9901 | €79,122 | €75,527 | -€3,595 | -4.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €22,513 | €19,018 | -€3,495 | -15.5% |
| Recurring financial charges | 65 | €22,513 | €19,018 | -€3,495 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €56,609 | €56,510 | -€100 | -0.2% |
| Income taxes | 67/77 | €13,804 | €11,405 | -€2,399 | -17.4% |
| Profit (loss) for the period | 9904 | €42,805 | €45,105 | +€2,300 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,805 | €45,105 | +€2,300 | +5.4% |
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 17 October 2026 via checked.be.