FREALEX: 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.
FREALEX
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€15,572
up €15,572 (+128.5%), from €12,118 to €27,690
- Provisions -€9,993
down €9,993 (-11.6%), from €86,501 to €76,507
of which Provisions for liabilities and charges: -€7,923
- Reserves -€7,440
down €7,440 (-4.1%), from €183,508 to €176,068
of which Tax-exempt reserves: -€6,211
- Tax, wage and social debts -€4,804
down €4,804 (-94.1%), from €5,106 to €302
of which Taxes: -€4,813
- Staff costs -€3,061
down €3,061 (-88.5%), from €3,457 to €396
- Financial income -€1,934
down €1,934 (-96.2%), from €2,010 to €76
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 | €452,254 | €445,841 | -€6,413 | -1.4% |
| Fixed assets | 21/28 | €369,386 | €365,983 | -€3,403 | -0.9% |
| Tangible fixed assets | 22/27 | €369,386 | €365,983 | -€3,403 | -0.9% |
| Land and buildings | 22 | €369,386 | €365,983 | -€3,403 | -0.9% |
| Current assets | 29/58 | €82,869 | €79,858 | -€3,010 | -3.6% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,861 | €0 | -€3,861 | -100.0% |
| Other amounts receivable | 41 | €3,861 | €0 | -€3,861 | -100.0% |
| Cash at bank and in hand | 54/58 | €38,080 | €39,052 | +€972 | +2.6% |
| Deferred charges and accrued income | 490/1 | €927 | €806 | -€121 | -13.1% |
| Total equity and liabilities | 10/49 | €452,254 | €445,841 | -€6,413 | -1.4% |
| Equity | 10/15 | €348,407 | €340,967 | -€7,440 | -2.1% |
| Contributions | 10/11 | €81,500 | €81,500 | = | 0.0% |
| Outside capital | 11 | €81,500 | - | -€81,500 | |
| Other | 1109/19 | €81,500 | - | -€81,500 | |
| Reserves | 13 | €183,508 | €176,068 | -€7,440 | -4.1% |
| Tax-exempt reserves | 132 | €93,119 | €86,908 | -€6,211 | -6.7% |
| Distributable reserves | 133 | €90,389 | €89,160 | -€1,230 | -1.4% |
| Profit (loss) carried forward | 14 | €83,399 | €83,399 | = | 0.0% |
| Provisions and deferred taxes | 16 | €86,501 | €76,507 | -€9,993 | -11.6% |
| Provisions for liabilities and charges | 160/5 | €55,461 | €47,538 | -€7,923 | -14.3% |
| Environmental obligations | 163 | €55,461 | - | -€55,461 | |
| Other liabilities and charges | 164/5 | - | €47,538 | +€47,538 | |
| Deferred taxes | 168 | €31,040 | €28,969 | -€2,070 | -6.7% |
| Amounts payable | 17/49 | €17,347 | €28,367 | +€11,021 | +63.5% |
| Amounts payable within one year | 42/48 | €17,347 | €28,367 | +€11,021 | +63.5% |
| Trade debts | 44 | €123 | €376 | +€253 | +205.7% |
| Suppliers | 440/4 | €123 | €376 | +€253 | +205.7% |
| Taxes, remuneration and social security | 45 | €5,106 | €302 | -€4,804 | -94.1% |
| Taxes | 450/3 | €4,920 | €107 | -€4,813 | -97.8% |
| Remuneration and social security | 454/9 | €186 | €195 | +€9 | +4.7% |
| Other amounts payable | 47/48 | €12,118 | €27,690 | +€15,572 | +128.5% |
| Remuneration, social security and pensions | 62 | €3,457 | €396 | -€3,061 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,394 | €11,484 | +€90 | +0.8% |
| Other operating charges | 640/8 | €7,782 | €7,766 | -€16 | -0.2% |
| Gross operating margin | 9900 | €45,535 | €45,549 | +€14 | 0.0% |
| Operating profit (loss) | 9901 | €22,902 | €25,903 | +€3,000 | +13.1% |
| Financial income | 75/76B | €2,010 | €76 | -€1,934 | -96.2% |
| Recurring financial income | 75 | €2,010 | €76 | -€1,934 | -96.2% |
| Financial charges | 65/66B | €2,836 | €3,041 | +€205 | +7.2% |
| Recurring financial charges | 65 | €2,836 | €3,041 | +€205 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €22,076 | €22,937 | +€861 | +3.9% |
| Transfer from deferred taxes | 780 | €2,056 | €2,070 | +€15 | +0.7% |
| Income taxes | 67/77 | €9,957 | €10,115 | +€158 | +1.6% |
| Profit (loss) for the period | 9904 | €14,175 | €14,892 | +€717 | +5.1% |
| Transfer from tax-exempt reserves | 789 | €6,167 | €6,211 | +€44 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,342 | €21,103 | +€761 | +3.7% |
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 7 October 2026 via checked.be.