VAN FRONTBERGHE: 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.
VAN FRONTBERGHE
Largest movements
- Tangible fixed assets -€463,047
down €463,047 (-69.5%), from €666,411 to €203,364
of which Plant, machinery and equipment: -€296,361
- Cash +€80,182
up €80,182 (+157,219%), from €51 to €80,233
mainly Investment in fixed assets (net) (+€340,786) and Depreciation (+€122,260)
- Receivables within one year -€40,738
down €40,738 (-39.8%), from €102,443 to €61,705
of which Trade receivables: -€57,528
- Deferred charges and accrued income -€15,192
down €15,192 (-58.6%), from €25,930 to €10,738
- Short-term financial debts -€284,001
no longer reported in 2025 (was €284,001)
- Profit (loss) carried forward -€221,772
down €221,772, from €184,381 to -€37,392
- Current portion of long-term debt +€42,598
up €42,598 (+212%), from €20,073 to €62,671
- Debts after one year +€40,693
up €40,693 (+21.3%), from €191,096 to €231,789
- Tax, wage and social debts -€13,658
down €13,658 (-72.5%), from €18,831 to €5,172
- Gross operating margin -€248,052
down €248,052 (-89.9%), from €275,969 to €27,917
- Staff costs -€84,018
down €84,018 (-52.0%), from €161,656 to €77,638
- Financial charges +€15,749
up €15,749 (+138%), from €11,374 to €27,123
- Depreciation +€14,942
up €14,942 (+13.9%), from €107,319 to €122,260
- Other operating charges +€12,268
up €12,268 (+126%), from €9,755 to €22,024
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 | €794,844 | €356,049 | -€438,795 | -55.2% |
| Fixed assets | 21/28 | €666,421 | €203,374 | -€463,047 | -69.5% |
| Tangible fixed assets | 22/27 | €666,411 | €203,364 | -€463,047 | -69.5% |
| Plant, machinery and equipment | 23 | €389,624 | €93,263 | -€296,361 | -76.1% |
| Furniture and vehicles | 24 | €276,786 | €110,101 | -€166,686 | -60.2% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €128,424 | €152,675 | +€24,252 | +18.9% |
| Amounts receivable within one year | 40/41 | €102,443 | €61,705 | -€40,738 | -39.8% |
| Trade receivables | 40 | €85,041 | €27,513 | -€57,528 | -67.6% |
| Other amounts receivable | 41 | €17,402 | €34,191 | +€16,789 | +96.5% |
| Cash at bank and in hand | 54/58 | €51 | €80,233 | +€80,182 | +157,219% |
| Deferred charges and accrued income | 490/1 | €25,930 | €10,738 | -€15,192 | -58.6% |
| Total equity and liabilities | 10/49 | €794,844 | €356,049 | -€438,795 | -55.2% |
| Equity | 10/15 | €246,766 | €24,994 | -€221,772 | -89.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,785 | €43,785 | = | 0.0% |
| Distributable reserves | 133 | €43,785 | €43,785 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,381 | -€37,392 | -€221,772 | |
| Amounts payable | 17/49 | €548,078 | €331,055 | -€217,023 | -39.6% |
| Amounts payable after more than one year | 17 | €191,096 | €231,789 | +€40,693 | +21.3% |
| Financial debts | 170/4 | €191,096 | €231,789 | +€40,693 | +21.3% |
| Amounts payable within one year | 42/48 | €356,982 | €99,267 | -€257,715 | -72.2% |
| Current portion of amounts payable after more than one year | 42 | €20,073 | €62,671 | +€42,598 | +212% |
| Financial debts | 43 | €284,001 | - | -€284,001 | |
| Credit institutions | 430/8 | €284,001 | - | -€284,001 | |
| Trade debts | 44 | €28,045 | €25,391 | -€2,654 | -9.5% |
| Suppliers | 440/4 | €28,045 | €25,391 | -€2,654 | -9.5% |
| Taxes, remuneration and social security | 45 | €18,831 | €5,172 | -€13,658 | -72.5% |
| Taxes | 450/3 | €18,831 | €5,172 | -€13,658 | -72.5% |
| Other amounts payable | 47/48 | €6,032 | €6,032 | = | 0.0% |
| Non-recurring operating income | 76A | €30,010 | €66,900 | +€36,890 | +123% |
| Remuneration, social security and pensions | 62 | €161,656 | €77,638 | -€84,018 | -52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,319 | €122,260 | +€14,942 | +13.9% |
| Other operating charges | 640/8 | €9,755 | €22,024 | +€12,268 | +126% |
| Non-recurring operating charges | 66A | €9,306 | - | -€9,306 | |
| Gross operating margin | 9900 | €275,969 | €27,917 | -€248,052 | -89.9% |
| Operating profit (loss) | 9901 | -€12,068 | -€194,005 | -€181,938 | -1,508% |
| Financial income | 75/76B | - | €755 | +€755 | |
| Recurring financial income | 75 | - | €755 | +€755 | |
| Financial charges | 65/66B | €11,374 | €27,123 | +€15,749 | +138% |
| Recurring financial charges | 65 | €11,374 | €27,123 | +€15,749 | +138% |
| Profit (loss) for the period before taxes | 9903 | -€23,442 | -€220,374 | -€196,932 | -840% |
| Income taxes | 67/77 | €705 | €1,398 | +€694 | +98.4% |
| Profit (loss) for the period | 9904 | -€24,146 | -€221,772 | -€197,626 | -818% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,146 | -€221,772 | -€197,626 | -818% |
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 28 October 2026 via checked.be.