2FRAME: 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.
2FRAME
Largest movements
- Receivables within one year -€239,041
down €239,041 (-58.5%), from €408,854 to €169,813
of which Trade receivables: -€138,299
- Tangible fixed assets -€24,517
down €24,517 (-47.6%), from €51,512 to €26,995
of which Plant, machinery and equipment: -€15,780
- Profit (loss) carried forward -€170,917
down €170,917, from €154,932 to -€15,985
- Tax, wage and social debts -€70,388
down €70,388 (-49.9%), from €141,078 to €70,690
of which Taxes: -€62,650
- Accrued charges and deferred income +€30,000
new in 2025: €30,000
- Current portion of long-term debt -€27,423
down €27,423 (-73.8%), from €37,171 to €9,748
- Trade debts -€15,911
down €15,911 (-29.5%), from €53,951 to €38,040
- Gross operating margin -€141,826
down €141,826 (-78.9%), from €179,682 to €37,856
- Staff costs -€40,062
down €40,062 (-19.2%), from €208,510 to €168,448
- Depreciation -€9,491
down €9,491 (-27.9%), from €34,008 to €24,517
- Financial charges +€7,835
up €7,835 (+119%), from €6,590 to €14,425
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 | €506,766 | €242,885 | -€263,881 | -52.1% |
| Fixed assets | 21/28 | €97,451 | €72,934 | -€24,517 | -25.2% |
| Tangible fixed assets | 22/27 | €51,512 | €26,995 | -€24,517 | -47.6% |
| Plant, machinery and equipment | 23 | €24,133 | €8,353 | -€15,780 | -65.4% |
| Furniture and vehicles | 24 | €27,379 | €18,642 | -€8,737 | -31.9% |
| Financial fixed assets | 28 | €45,939 | €45,939 | = | 0.0% |
| Current assets | 29/58 | €409,315 | €169,951 | -€239,364 | -58.5% |
| Amounts receivable within one year | 40/41 | €408,854 | €169,813 | -€239,041 | -58.5% |
| Trade receivables | 40 | €202,854 | €64,555 | -€138,299 | -68.2% |
| Other amounts receivable | 41 | €206,000 | €105,258 | -€100,742 | -48.9% |
| Cash at bank and in hand | 54/58 | €461 | €138 | -€323 | -70.1% |
| Total equity and liabilities | 10/49 | €506,766 | €242,885 | -€263,881 | -52.1% |
| Equity | 10/15 | €216,831 | €45,914 | -€170,917 | -78.8% |
| Contributions | 10/11 | €56,272 | €56,272 | = | 0.0% |
| Reserves | 13 | €5,627 | €5,627 | = | 0.0% |
| Distributable reserves | 133 | €5,627 | €5,627 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,932 | -€15,985 | -€170,917 | |
| Amounts payable | 17/49 | €289,935 | €196,971 | -€92,964 | -32.1% |
| Amounts payable after more than one year | 17 | €53,415 | €43,667 | -€9,748 | -18.2% |
| Financial debts | 170/4 | €11,415 | €1,667 | -€9,748 | -85.4% |
| Other amounts payable | 178/9 | €42,000 | €42,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €236,520 | €123,304 | -€113,216 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €37,171 | €9,748 | -€27,423 | -73.8% |
| Financial debts | 43 | €4,320 | €4,826 | +€506 | +11.7% |
| Credit institutions | 430/8 | €4,320 | €4,826 | +€506 | +11.7% |
| Trade debts | 44 | €53,951 | €38,040 | -€15,911 | -29.5% |
| Suppliers | 440/4 | €53,951 | €38,040 | -€15,911 | -29.5% |
| Taxes, remuneration and social security | 45 | €141,078 | €70,690 | -€70,388 | -49.9% |
| Taxes | 450/3 | €74,268 | €11,618 | -€62,650 | -84.4% |
| Remuneration and social security | 454/9 | €66,810 | €59,072 | -€7,738 | -11.6% |
| Accrued charges and deferred income | 492/3 | - | €30,000 | +€30,000 | |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | €208,510 | €168,448 | -€40,062 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,008 | €24,517 | -€9,491 | -27.9% |
| Other operating charges | 640/8 | €1,308 | €815 | -€493 | -37.7% |
| Gross operating margin | 9900 | €179,682 | €37,856 | -€141,826 | -78.9% |
| Operating profit (loss) | 9901 | -€64,144 | -€155,924 | -€91,780 | -143% |
| Financial charges | 65/66B | €6,590 | €14,425 | +€7,835 | +119% |
| Recurring financial charges | 65 | €6,590 | €14,425 | +€7,835 | +119% |
| Profit (loss) for the period before taxes | 9903 | -€70,734 | -€170,349 | -€99,615 | -141% |
| Income taxes | 67/77 | €701 | €568 | -€133 | -19.0% |
| Profit (loss) for the period | 9904 | -€71,435 | -€170,917 | -€99,482 | -139% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,435 | -€170,917 | -€99,482 | -139% |
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 24 October 2026 via checked.be.