FRE VI: what changed
Two fiscal 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.
FRE VI
Largest movements
- Cash +€24,779
up €24,779 (+150.4%), from €16,471 to €41,250
mainly Receivables within one year (+€18,078) and Net result for the year (+€8,680)
- Receivables within one year -€18,078
down €18,078 (-58.0%), from €31,154 to €13,076
of which Other amounts receivable: -€19,001
- Deferred charges and accrued income +€9,970
up €9,970 (+510.3%), from €1,954 to €11,924
- Tangible fixed assets -€1,769
down €1,769 (-70.0%), from €2,529 to €760
- Reserves +€8,680
up €8,680 (+55.2%), from €15,716 to €24,396
- Tax, wage and social debts +€6,639
up €6,639 (+47.3%), from €14,032 to €20,671
- Accrued charges and deferred income -€876
down €876 (-68.7%), from €1,276 to €400
- Gross operating margin +€7,186
up €7,186 (+60.2%), from €11,932 to €19,118
- Taxes +€2,358
up €2,358 (+46.7%), from €5,046 to €7,404
- Other operating charges +€1,204
up €1,204 (+147.6%), from €816 to €2,019
- Financial charges +€209
up €209 (+382.5%), from €55 to €263
- Depreciation +€198
up €198 (+12.6%), from €1,571 to €1,769
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.
Cash bridge derived
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 | €54,357 | €69,259 | +€14,902 | +27.4% |
| Fixed assets | 21/28 | €4,779 | €3,010 | -€1,769 | -37.0% |
| Tangible fixed assets | 22/27 | €2,529 | €760 | -€1,769 | -70.0% |
| Furniture and vehicles | 24 | €2,529 | €760 | -€1,769 | -70.0% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €49,579 | €66,250 | +€16,671 | +33.6% |
| Amounts receivable within one year | 40/41 | €31,154 | €13,076 | -€18,078 | -58.0% |
| Trade receivables | 40 | - | €923 | +€923 | |
| Other amounts receivable | 41 | €31,154 | €12,153 | -€19,001 | -61.0% |
| Cash at bank and in hand | 54/58 | €16,471 | €41,250 | +€24,779 | +150.4% |
| Deferred charges and accrued income | 490/1 | €1,954 | €11,924 | +€9,970 | +510.3% |
| Total equity and liabilities | 10/49 | €54,357 | €69,259 | +€14,902 | +27.4% |
| Equity | 10/15 | €35,716 | €44,396 | +€8,680 | +24.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €15,716 | €24,396 | +€8,680 | +55.2% |
| Distributable reserves | 133 | €15,716 | €24,396 | +€8,680 | +55.2% |
| Amounts payable | 17/49 | €18,642 | €24,863 | +€6,222 | +33.4% |
| Amounts payable within one year | 42/48 | €17,365 | €24,463 | +€7,098 | +40.9% |
| Trade debts | 44 | €3,334 | €3,792 | +€459 | +13.8% |
| Suppliers | 440/4 | €3,334 | €3,792 | +€459 | +13.8% |
| Taxes, remuneration and social security | 45 | €14,032 | €20,671 | +€6,639 | +47.3% |
| Taxes | 450/3 | €14,032 | €20,671 | +€6,639 | +47.3% |
| Accrued charges and deferred income | 492/3 | €1,276 | €400 | -€876 | -68.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,571 | €1,769 | +€198 | +12.6% |
| Other operating charges | 640/8 | €816 | €2,019 | +€1,204 | +147.6% |
| Gross operating margin | 9900 | €11,932 | €19,118 | +€7,186 | +60.2% |
| Operating profit (loss) | 9901 | €9,545 | €15,330 | +€5,785 | +60.6% |
| Financial income | 75/76B | €957 | €1,018 | +€61 | +6.4% |
| Recurring financial income | 75 | €957 | €1,018 | +€61 | +6.4% |
| Financial charges | 65/66B | €55 | €263 | +€209 | +382.5% |
| Recurring financial charges | 65 | €55 | €263 | +€209 | +382.5% |
| Profit (loss) for the period before taxes | 9903 | €10,447 | €16,084 | +€5,637 | +54.0% |
| Income taxes | 67/77 | €5,046 | €7,404 | +€2,358 | +46.7% |
| Profit (loss) for the period | 9904 | €5,401 | €8,680 | +€3,279 | +60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,401 | €8,680 | +€3,279 | +60.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.