FREBO: 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.
FREBO
Largest movements
- Tangible fixed assets -€175,200
down €175,200 (-27.9%), from €627,567 to €452,368
of which Plant, machinery and equipment: -€168,649
- Receivables within one year -€81,214
down €81,214 (-19.4%), from €419,419 to €338,205
of which Trade receivables: -€81,873
- Cash +€47,094
up €47,094 (+17.9%), from €262,840 to €309,934
mainly Net result for the year (+€456,837) and Depreciation (+€186,130)
- Debts after one year -€77,106
down €77,106 (-100%), from €77,106 to €0
- Other debts -€50,596
down €50,596 (-5.4%), from €945,532 to €894,935
- Profit (loss) carried forward -€41,977
down €41,977 (-100%), from €41,977 to €0
- Trade debts -€20,556
down €20,556 (-16.4%), from €125,340 to €104,784
- Tax, wage and social debts -€19,866
down €19,866 (-20.4%), from €97,355 to €77,489
of which Taxes: -€19,485
- Staff costs -€42,333
down €42,333 (-7.0%), from €605,923 to €563,589
- Gross operating margin -€20,089
down €20,089 (-1.4%), from €1.4m to €1.4m
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 | €1,344,336 | €1,132,936 | -€211,399 | -15.7% |
| Fixed assets | 21/28 | €642,567 | €467,368 | -€175,200 | -27.3% |
| Tangible fixed assets | 22/27 | €627,567 | €452,368 | -€175,200 | -27.9% |
| Land and buildings | 22 | - | €4,382 | +€4,382 | |
| Plant, machinery and equipment | 23 | €584,925 | €416,276 | -€168,649 | -28.8% |
| Furniture and vehicles | 24 | €42,642 | €31,710 | -€10,932 | -25.6% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €701,768 | €665,569 | -€36,200 | -5.2% |
| Amounts receivable within one year | 40/41 | €419,419 | €338,205 | -€81,214 | -19.4% |
| Trade receivables | 40 | €419,419 | €337,546 | -€81,873 | -19.5% |
| Other amounts receivable | 41 | - | €659 | +€659 | |
| Cash at bank and in hand | 54/58 | €262,840 | €309,934 | +€47,094 | +17.9% |
| Deferred charges and accrued income | 490/1 | €19,509 | €17,430 | -€2,079 | -10.7% |
| Total equity and liabilities | 10/49 | €1,344,336 | €1,132,936 | -€211,399 | -15.7% |
| Equity | 10/15 | €98,891 | €55,728 | -€43,163 | -43.6% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €21,913 | €20,728 | -€1,185 | -5.4% |
| Tax-exempt reserves | 132 | €337 | €0 | -€337 | -100% |
| Distributable reserves | 133 | €21,577 | €20,728 | -€849 | -3.9% |
| Profit (loss) carried forward | 14 | €41,977 | €0 | -€41,977 | -100% |
| Provisions and deferred taxes | 16 | €112 | €0 | -€112 | -100% |
| Deferred taxes | 168 | €112 | €0 | -€112 | -100% |
| Amounts payable | 17/49 | €1,245,333 | €1,077,208 | -€168,125 | -13.5% |
| Amounts payable after more than one year | 17 | €77,106 | €0 | -€77,106 | -100% |
| Financial debts | 170/4 | €77,106 | €0 | -€77,106 | -100% |
| Amounts payable within one year | 42/48 | €1,168,227 | €1,077,208 | -€91,019 | -7.8% |
| Trade debts | 44 | €125,340 | €104,784 | -€20,556 | -16.4% |
| Suppliers | 440/4 | €125,340 | €104,784 | -€20,556 | -16.4% |
| Taxes, remuneration and social security | 45 | €97,355 | €77,489 | -€19,866 | -20.4% |
| Taxes | 450/3 | €63,801 | €44,316 | -€19,485 | -30.5% |
| Remuneration and social security | 454/9 | €33,554 | €33,174 | -€381 | -1.1% |
| Other amounts payable | 47/48 | €945,532 | €894,935 | -€50,596 | -5.4% |
| Remuneration, social security and pensions | 62 | €605,923 | €563,589 | -€42,333 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,035 | €186,130 | +€3,095 | +1.7% |
| Other operating charges | 640/8 | €8,070 | €8,295 | +€225 | +2.8% |
| Gross operating margin | 9900 | €1,395,854 | €1,375,765 | -€20,089 | -1.4% |
| Operating profit (loss) | 9901 | €598,825 | €617,750 | +€18,925 | +3.2% |
| Financial income | 75/76B | €2,331 | €2,364 | +€32 | +1.4% |
| Recurring financial income | 75 | €2,331 | €2,364 | +€32 | +1.4% |
| Financial charges | 65/66B | €15,677 | €8,462 | -€7,215 | -46.0% |
| Recurring financial charges | 65 | €15,677 | €8,462 | -€7,215 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €585,479 | €611,651 | +€26,172 | +4.5% |
| Transfer from deferred taxes | 780 | €119 | €112 | -€6 | -5.5% |
| Income taxes | 67/77 | €148,954 | €154,926 | +€5,972 | +4.0% |
| Profit (loss) for the period | 9904 | €436,644 | €456,837 | +€20,193 | +4.6% |
| Transfer from tax-exempt reserves | 789 | €356 | €337 | -€19 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €437,000 | €457,174 | +€20,174 | +4.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.