FREAN: 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.
FREAN
Largest movements
- Receivables within one year -€59,565
down €59,565 (-39.3%), from €151,745 to €92,180
of which Other amounts receivable: -€42,404
- Tangible fixed assets -€38,897
down €38,897 (-9.0%), from €432,934 to €394,037
of which Land and buildings: -€37,360
- Cash -€10,602
down €10,602 (-41.1%), from €25,812 to €15,210
mainly Contributions, distributions and other (-€76,533) and Tax, wage and social debts (-€40,135)
- Reserves -€50,150
down €50,150 (-11.3%), from €445,668 to €395,518
of which Distributable reserves: -€50,150
- Tax, wage and social debts -€40,135
down €40,135 (-84.4%), from €47,534 to €7,399
- Debts after one year -€20,802
down €20,802 (-24.4%), from €85,127 to €64,324
- Gross operating margin -€116,129
down €116,129 (-59.1%), from €196,518 to €80,389
- Taxes -€38,435
down €38,435 (-77.5%), from €49,566 to €11,132
- Financial charges +€2,705
up €2,705 (+136.7%), from €1,979 to €4,684
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 | €612,294 | €503,905 | -€108,389 | -17.7% |
| Fixed assets | 21/28 | €432,934 | €394,037 | -€38,897 | -9.0% |
| Tangible fixed assets | 22/27 | €432,934 | €394,037 | -€38,897 | -9.0% |
| Land and buildings | 22 | €425,949 | €388,589 | -€37,360 | -8.8% |
| Plant, machinery and equipment | 23 | €4,034 | €2,944 | -€1,090 | -27.0% |
| Furniture and vehicles | 24 | €2,951 | €2,504 | -€448 | -15.2% |
| Current assets | 29/58 | €179,360 | €109,868 | -€69,492 | -38.7% |
| Amounts receivable within one year | 40/41 | €151,745 | €92,180 | -€59,565 | -39.3% |
| Trade receivables | 40 | €17,788 | €627 | -€17,161 | -96.5% |
| Other amounts receivable | 41 | €133,957 | €91,553 | -€42,404 | -31.7% |
| Cash at bank and in hand | 54/58 | €25,812 | €15,210 | -€10,602 | -41.1% |
| Deferred charges and accrued income | 490/1 | €1,803 | €2,478 | +€675 | +37.5% |
| Total equity and liabilities | 10/49 | €612,294 | €503,905 | -€108,389 | -17.7% |
| Equity | 10/15 | €452,777 | €402,640 | -€50,137 | -11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €445,668 | €395,518 | -€50,150 | -11.3% |
| Tax-exempt reserves | 132 | €29,350 | €29,350 | = | 0.0% |
| Distributable reserves | 133 | €416,318 | €366,168 | -€50,150 | -12.0% |
| Profit (loss) carried forward | 14 | €909 | €922 | +€13 | +1.4% |
| Amounts payable | 17/49 | €159,517 | €101,265 | -€58,252 | -36.5% |
| Amounts payable after more than one year | 17 | €85,127 | €64,324 | -€20,802 | -24.4% |
| Financial debts | 170/4 | €85,127 | €64,324 | -€20,802 | -24.4% |
| Amounts payable within one year | 42/48 | €72,756 | €35,241 | -€37,515 | -51.6% |
| Current portion of amounts payable after more than one year | 42 | €20,491 | €22,075 | +€1,585 | +7.7% |
| Trade debts | 44 | €3,931 | €4,934 | +€1,003 | +25.5% |
| Suppliers | 440/4 | €3,931 | €4,934 | +€1,003 | +25.5% |
| Taxes, remuneration and social security | 45 | €47,534 | €7,399 | -€40,135 | -84.4% |
| Taxes | 450/3 | €47,534 | €7,399 | -€40,135 | -84.4% |
| Other amounts payable | 47/48 | €800 | €833 | +€33 | +4.1% |
| Accrued charges and deferred income | 492/3 | €1,634 | €1,700 | +€65 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,792 | €40,504 | -€1,287 | -3.1% |
| Other operating charges | 640/8 | €3,342 | €3,371 | +€29 | +0.9% |
| Gross operating margin | 9900 | €196,518 | €80,389 | -€116,129 | -59.1% |
| Operating profit (loss) | 9901 | €151,384 | €36,514 | -€114,871 | -75.9% |
| Financial income | 75/76B | €7,352 | €5,698 | -€1,654 | -22.5% |
| Recurring financial income | 75 | €7,352 | €5,698 | -€1,654 | -22.5% |
| Financial charges | 65/66B | €1,979 | €4,684 | +€2,705 | +136.7% |
| Recurring financial charges | 65 | €1,979 | €4,684 | +€2,705 | +136.7% |
| Profit (loss) for the period before taxes | 9903 | €156,758 | €37,528 | -€119,230 | -76.1% |
| Income taxes | 67/77 | €49,566 | €11,132 | -€38,435 | -77.5% |
| Profit (loss) for the period | 9904 | €107,191 | €26,396 | -€80,795 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €107,191 | €26,396 | -€80,795 | -75.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.