FRANEXA: 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.
FRANEXA
Largest movements
- Cash +€153,827
up €153,827 (+111%), from €138,993 to €292,820
mainly Net result for the year (+€219,753) and Depreciation (+€70,664)
- Reserves +€218,903
up €218,903 (+10.3%), from €2.1m to €2.4m
of which Distributable reserves: +€218,903
- Current portion of long-term debt -€68,613
down €68,613 (-60.5%), from €113,388 to €44,774
- Debts after one year -€27,969
down €27,969 (-51.7%), from €54,111 to €26,142
- Gross operating margin +€40,772
up €40,772 (+11.6%), from €352,964 to €393,737
- Taxes +€11,471
up €11,471 (+13.2%), from €87,131 to €98,602
- Financial charges -€8,295
down €8,295 (-88.4%), from €9,381 to €1,086
- Depreciation +€6,583
up €6,583 (+10.3%), from €64,081 to €70,664
- Financial income -€4,956
down €4,956 (-44.3%), from €11,185 to €6,229
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 | €2,349,673 | €2,475,256 | +€125,584 | +5.3% |
| Fixed assets | 21/28 | €1,304,611 | €1,286,152 | -€18,459 | -1.4% |
| Tangible fixed assets | 22/27 | €1,303,108 | €1,284,649 | -€18,459 | -1.4% |
| Land and buildings | 22 | €1,268,378 | €1,212,352 | -€56,026 | -4.4% |
| Plant, machinery and equipment | 23 | €24,305 | €70,158 | +€45,853 | +189% |
| Furniture and vehicles | 24 | €10,426 | €2,140 | -€8,286 | -79.5% |
| Financial fixed assets | 28 | €1,502 | €1,502 | = | 0.0% |
| Current assets | 29/58 | €1,045,062 | €1,189,105 | +€144,043 | +13.8% |
| Amounts receivable within one year | 40/41 | €150,611 | €137,324 | -€13,287 | -8.8% |
| Trade receivables | 40 | €124,615 | €130,702 | +€6,088 | +4.9% |
| Other amounts receivable | 41 | €25,996 | €6,621 | -€19,375 | -74.5% |
| Current investments | 50/53 | €753,779 | €758,016 | +€4,237 | +0.6% |
| Cash at bank and in hand | 54/58 | €138,993 | €292,820 | +€153,827 | +111% |
| Deferred charges and accrued income | 490/1 | €1,679 | €945 | -€734 | -43.7% |
| Total equity and liabilities | 10/49 | €2,349,673 | €2,475,256 | +€125,584 | +5.3% |
| Equity | 10/15 | €2,143,516 | €2,362,419 | +€218,903 | +10.2% |
| Contributions | 10/11 | €12,392 | €12,392 | = | 0.0% |
| Reserves | 13 | €2,131,124 | €2,350,027 | +€218,903 | +10.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €2,129,264 | €2,348,168 | +€218,903 | +10.3% |
| Amounts payable | 17/49 | €206,157 | €112,838 | -€93,319 | -45.3% |
| Amounts payable after more than one year | 17 | €54,111 | €26,142 | -€27,969 | -51.7% |
| Financial debts | 170/4 | €54,111 | €26,142 | -€27,969 | -51.7% |
| Amounts payable within one year | 42/48 | €152,046 | €86,696 | -€65,350 | -43.0% |
| Current portion of amounts payable after more than one year | 42 | €113,388 | €44,774 | -€68,613 | -60.5% |
| Trade debts | 44 | €18,148 | €12,065 | -€6,083 | -33.5% |
| Suppliers | 440/4 | €18,148 | €12,065 | -€6,083 | -33.5% |
| Taxes, remuneration and social security | 45 | €11,760 | €29,857 | +€18,097 | +154% |
| Taxes | 450/3 | €11,760 | €29,857 | +€18,097 | +154% |
| Other amounts payable | 47/48 | €8,750 | - | -€8,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,081 | €70,664 | +€6,583 | +10.3% |
| Other operating charges | 640/8 | €9,462 | €9,860 | +€398 | +4.2% |
| Gross operating margin | 9900 | €352,964 | €393,737 | +€40,772 | +11.6% |
| Operating profit (loss) | 9901 | €279,421 | €313,213 | +€33,791 | +12.1% |
| Financial income | 75/76B | €11,185 | €6,229 | -€4,956 | -44.3% |
| Recurring financial income | 75 | €11,185 | €6,229 | -€4,956 | -44.3% |
| Financial charges | 65/66B | €9,381 | €1,086 | -€8,295 | -88.4% |
| Recurring financial charges | 65 | €9,381 | €1,086 | -€8,295 | -88.4% |
| Profit (loss) for the period before taxes | 9903 | €281,225 | €318,355 | +€37,130 | +13.2% |
| Income taxes | 67/77 | €87,131 | €98,602 | +€11,471 | +13.2% |
| Profit (loss) for the period | 9904 | €194,094 | €219,753 | +€25,659 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €194,094 | €219,753 | +€25,659 | +13.2% |
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 13 October 2026 via checked.be.