S.K. FRANK: 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.K. FRANK
Largest movements
- Tangible fixed assets -€263,460
no longer reported in 2025 (was €263,460)
- Cash +€116,486
up €116,486 (+213,461%), from €55 to €116,540
mainly Investment in fixed assets (net) (+€263,460) and Stocks and contracts (+€93,017)
- Stocks and contracts -€93,017
no longer reported in 2025 (was €93,017)
- Receivables within one year -€34,214
down €34,214 (-26.5%), from €129,072 to €94,859
of which Other amounts receivable: -€28,300
- Debts after one year -€142,036
down €142,036 (-67.9%), from €209,139 to €67,102
- Short-term financial debts -€120,578
no longer reported in 2025 (was €120,578)
- Current portion of long-term debt -€13,906
down €13,906 (-62.0%), from €22,417 to €8,511
- Gross operating margin -€30,372
down €30,372 (-60.2%), from €50,481 to €20,109
- Depreciation -€14,217
no longer reported in 2025 (was €14,217)
- Financial charges +€1,735
up €1,735 (+11.8%), from €14,692 to €16,427
- Taxes -€1,192
down €1,192 (-50.6%), from €2,358 to €1,166
- Other operating charges -€968
down €968 (-30.3%), from €3,192 to €2,223
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 | €488,657 | €211,399 | -€277,258 | -56.7% |
| Fixed assets | 21/28 | €263,460 | - | -€263,460 | |
| Tangible fixed assets | 22/27 | €263,460 | - | -€263,460 | |
| Land and buildings | 22 | €263,460 | - | -€263,460 | |
| Current assets | 29/58 | €225,198 | €211,399 | -€13,799 | -6.1% |
| Stocks and contracts in progress | 3 | €93,017 | - | -€93,017 | |
| Stocks | 30/36 | €93,017 | - | -€93,017 | |
| Amounts receivable within one year | 40/41 | €129,072 | €94,859 | -€34,214 | -26.5% |
| Trade receivables | 40 | €78,322 | €72,409 | -€5,913 | -7.6% |
| Other amounts receivable | 41 | €50,750 | €22,450 | -€28,300 | -55.8% |
| Cash at bank and in hand | 54/58 | €55 | €116,540 | +€116,486 | +213,461% |
| Deferred charges and accrued income | 490/1 | €3,053 | - | -€3,053 | |
| Total equity and liabilities | 10/49 | €488,657 | €211,399 | -€277,258 | -56.7% |
| Equity | 10/15 | €132,290 | €132,582 | +€292 | +0.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €113,698 | €113,990 | +€292 | +0.3% |
| Distributable reserves | 133 | €113,698 | €113,990 | +€292 | +0.3% |
| Amounts payable | 17/49 | €356,367 | €78,817 | -€277,551 | -77.9% |
| Amounts payable after more than one year | 17 | €209,139 | €67,102 | -€142,036 | -67.9% |
| Financial debts | 170/4 | €209,139 | €67,102 | -€142,036 | -67.9% |
| Amounts payable within one year | 42/48 | €147,229 | €11,714 | -€135,514 | -92.0% |
| Current portion of amounts payable after more than one year | 42 | €22,417 | €8,511 | -€13,906 | -62.0% |
| Financial debts | 43 | €120,578 | - | -€120,578 | |
| Credit institutions | 430/8 | €120,578 | - | -€120,578 | |
| Trade debts | 44 | €3,897 | €2,090 | -€1,806 | -46.4% |
| Suppliers | 440/4 | €3,897 | €2,090 | -€1,806 | -46.4% |
| Taxes, remuneration and social security | 45 | €337 | - | -€337 | |
| Taxes | 450/3 | €337 | - | -€337 | |
| Other amounts payable | 47/48 | - | €1,113 | +€1,113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,217 | - | -€14,217 | |
| Other operating charges | 640/8 | €3,192 | €2,223 | -€968 | -30.3% |
| Gross operating margin | 9900 | €50,481 | €20,109 | -€30,372 | -60.2% |
| Operating profit (loss) | 9901 | €33,073 | €17,885 | -€15,188 | -45.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €14,692 | €16,427 | +€1,735 | +11.8% |
| Recurring financial charges | 65 | €14,692 | €16,427 | +€1,735 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €18,381 | €1,458 | -€16,923 | -92.1% |
| Income taxes | 67/77 | €2,358 | €1,166 | -€1,192 | -50.6% |
| Profit (loss) for the period | 9904 | €16,023 | €292 | -€15,730 | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,023 | €292 | -€15,730 | -98.2% |
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.