FREA
Annual accounts 2025
micro format, filed on 11-08-2026, 11 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €130,000. Estimated: probably between €94,000 and €160,000.
Balance sheet
balance sheet total €186,794 on 31-12-2025in euro
in euro
Position in the sector
41.1%
Higher than 38% of 41,228 companies in 2025.
1.48
Higher than 39% of 39,797 companies in 2025.
22.8%
Higher than 63% of 40,318 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
186,794 | 136,155 | 86,810 | |
21/28 |
71,795 | 58,447 | 49,076 | |
22/27 |
71,795 | 58,447 | 49,076 | |
22 |
70,128 | 58,447 | 49,076 | |
23 |
1,668 | - | - | |
29/58 |
114,999 | 77,708 | 37,734 | |
40/41 |
27,760 | 21,344 | 14,266 | |
40 |
27,760 | 21,344 | 14,266 | |
54/58 |
85,355 | 54,461 | 22,982 | |
490/1 |
1,884 | 1,903 | 487 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
186,794 | 136,155 | 86,810 | |
10/15 |
76,716 | 34,133 | -599 | |
10/11 |
3,000 | 3,000 | 3,000 | |
10 |
3,000 | 3,000 | 3,000 | |
100 |
3,000 | 3,000 | 3,000 | |
14 |
73,716 | 31,133 | -3,599 | |
17/49 |
110,078 | 102,022 | 87,409 | |
17 |
32,181 | 36,628 | 40,901 | |
170/4 |
32,181 | 36,628 | 40,901 | |
42/48 |
77,896 | 65,395 | 46,508 | |
42 |
4,446 | 4,273 | 4,106 | |
44 |
1,052 | 719 | 30 | |
440/4 |
1,052 | 719 | 30 | |
45 |
38,045 | 31,000 | 10,295 | |
450/3 |
33,445 | 21,800 | 10,295 | |
454/9 |
4,600 | 9,200 | - | |
47/48 |
34,353 | 29,402 | 32,077 | |
| Income statement | ||||
9900 |
61,084 | 50,039 | 2,576 | |
630 |
4,216 | 4,700 | 3,564 | |
640/8 |
510 | 574 | 736 | |
9901 |
56,358 | 44,764 | -1,725 | |
65/66B |
1,869 | 1,835 | 1,875 | |
65 |
1,869 | 1,835 | 1,875 | |
9903 |
54,488 | 42,929 | -3,599 | |
67/77 |
11,905 | 8,197 | - | |
9904 |
42,583 | 34,732 | -3,599 | |
9905 |
42,583 | 34,732 | -3,599 | |
| Appropriation of the result | ||||
9906 |
73,716 | 31,133 | -3,599 | |
14P |
31,133 | -3,599 | - | |
| Document | ||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 11-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 11 days after the deadline. Filed on 11 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00392450.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 60,573 | 49,465 | 1,839 | ||
| 46,799 | 39,432 | -35 | ||
| 17,564 | 14,072 | 52,640 | ||
| 30,894 | 31,480 | - | ||
| 37,102 | 12,314 | -8,774 | ||
| 41.1% | 25.1% | -0.7% | ||
| 1.48 | 1.19 | 0.81 | ||
| 1.43 | 2.99 | - | ||
| 55.5% | 101.8% | - | ||
| 22.8% | 25.5% | -4.1% | ||
| 32.40 | 26.95 | 0.98 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Debts guaranteed by Belgian public bodies | - | €40,901 | - |
| €47,000 | €47,000 | €47,000 |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €17,564 | €14,072 | €52,640 |
| €4,216 | €4,700 | €3,564 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on FREA
The operating result for 2025 is 26% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Debt's share of the balance-sheet total falls from 74.9% to 58.9%. Equity and debt are higher.