FRECAMAT: 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.
What changed
FRECAMAT
NACE 08.111, Other mining and quarrying
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€170,216
2024 · -€93,261+€263,477
Equity
€3.4m
2024 · €3.3m+€75,480
Cash
€3.6m
2024 · €3.2m+€409,127
Balance sheet total
€8.5m
2024 · €7.7m+€849,473
Largest movements
Assets
- Tangible fixed assets +€783,557
up €783,557 (+21.8%), from €3.6m to €4.4m
of which Leasing and similar rights: +€868,214
- Cash +€409,127
up €409,127 (+12.8%), from €3.2m to €3.6m
mainly Depreciation (+€1.6m) and Debts after one year (+€915,943)
- Receivables after one year -€346,733
down €346,733 (-45.3%), from €764,659 to €417,926
of which Trade receivables: -€274,092
Equity and liabilities
- Debts after one year +€915,943
up €915,943 (+39.7%), from €2.3m to €3.2m
- Profit (loss) carried forward +€216,247
up €216,247 (+10.7%), from €2.0m to €2.2m
- Current portion of long-term debt -€187,005
down €187,005 (-12.0%), from €1.6m to €1.4m
- Investment grants -€94,736
down €94,736 (-41.7%), from €226,960 to €132,224
Income statement
- Gross operating margin +€241,021
up €241,021 (+13.6%), from €1.8m to €2.0m
- Financial charges +€46,091
up €46,091 (+36.4%), from €126,547 to €172,637
- Financial income +€45,237
up €45,237 (+91.4%), from €49,515 to €94,752
- Depreciation -€37,131
down €37,131 (-2.2%), from €1.7m to €1.6m
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.
Result 2024
-€93,261
Gross operating margin
+€241,021
Staff costs
-€2,569
Depreciation
+€37,131
Other operating charges
-€13
Financial income
+€45,237
Financial charges
-€46,091
Taxes
-€3
Deferred taxes and other
-€11,237
Result 2025
€170,216
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.
From operations
+€2.2m
Investment
-€2.4m
Financing
+€634,202
Cash 2024
€3.2m
From operations (derived)
+€2.2m
Net result for the year
+€170,216
Depreciation
+€1.6m
Receivables after one year
+€346,733
Deferred charges and accrued income
-€3,511
Provisions
-€15,344
Trade debts
+€24,270
Tax, wage and social debts
+€21,785
Other debts
+€14,345
Investment (derived)
-€2.4m
Investment in fixed assets (net)
-€2.4m
Current investments
-€11
Financing
+€634,202
Debts after one year
+€915,943
Current portion of long-term debt
-€187,005
Contributions, distributions and other
-€94,736
Cash 2025
€3.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,670,925 | €8,520,398 | +€849,473 | +11.1% |
| Fixed assets | 21/28 | €3,622,480 | €4,406,038 | +€783,557 | +21.6% |
| Tangible fixed assets | 22/27 | €3,597,691 | €4,381,248 | +€783,557 | +21.8% |
| Land and buildings | 22 | €49,420 | €49,420 | = | 0.0% |
| Plant, machinery and equipment | 23 | €260,445 | €175,789 | -€84,656 | -32.5% |
| Leasing and similar rights | 25 | €3,287,826 | €4,156,039 | +€868,214 | +26.4% |
| Financial fixed assets | 28 | €24,789 | €24,789 | = | 0.0% |
| Current assets | 29/58 | €4,048,445 | €4,114,361 | +€65,916 | +1.6% |
| Amounts receivable after more than one year | 29 | €764,659 | €417,926 | -€346,733 | -45.3% |
| Trade receivables | 290 | €526,005 | €251,913 | -€274,092 | -52.1% |
| Other amounts receivable | 291 | €238,654 | €166,012 | -€72,641 | -30.4% |
| Current investments | 50/53 | €2,122 | €2,133 | +€11 | +0.5% |
| Cash at bank and in hand | 54/58 | €3,188,309 | €3,597,436 | +€409,127 | +12.8% |
| Deferred charges and accrued income | 490/1 | €93,355 | €96,866 | +€3,511 | +3.8% |
| Total equity and liabilities | 10/49 | €7,670,925 | €8,520,398 | +€849,473 | +11.1% |
| Equity | 10/15 | €3,310,194 | €3,385,673 | +€75,480 | +2.3% |
| Contributions | 10/11 | €159,485 | €159,485 | = | 0.0% |
| Capital | 10 | €159,485 | €159,485 | = | 0.0% |
| Issued capital | 100 | €159,485 | €159,485 | = | 0.0% |
| Reserves | 13 | €898,982 | €852,951 | -€46,031 | -5.1% |
| Non-distributable reserves | 130/1 | €15,949 | €15,949 | = | 0.0% |
| Legal reserve | 130 | €15,949 | €15,949 | = | 0.0% |
| Tax-exempt reserves | 132 | €514,233 | €468,202 | -€46,031 | -9.0% |
| Distributable reserves | 133 | €368,800 | €368,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,024,767 | €2,241,013 | +€216,247 | +10.7% |
| Investment grants | 15 | €226,960 | €132,224 | -€94,736 | -41.7% |
| Provisions and deferred taxes | 16 | €130,019 | €114,676 | -€15,344 | -11.8% |
| Deferred taxes | 168 | €130,019 | €114,676 | -€15,344 | -11.8% |
| Amounts payable | 17/49 | €4,230,712 | €5,020,049 | +€789,337 | +18.7% |
| Amounts payable after more than one year | 17 | €2,309,864 | €3,225,807 | +€915,943 | +39.7% |
| Financial debts | 170/4 | €2,309,864 | €3,225,807 | +€915,943 | +39.7% |
| Amounts payable within one year | 42/48 | €1,920,848 | €1,794,242 | -€126,606 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €1,564,674 | €1,377,669 | -€187,005 | -12.0% |
| Trade debts | 44 | €52,353 | €76,623 | +€24,270 | +46.4% |
| Suppliers | 440/4 | €52,353 | €76,623 | +€24,270 | +46.4% |
| Taxes, remuneration and social security | 45 | €23,674 | €45,459 | +€21,785 | +92.0% |
| Taxes | 450/3 | €1,425 | €25,082 | +€23,657 | +1660.0% |
| Remuneration and social security | 454/9 | €22,249 | €20,377 | -€1,872 | -8.4% |
| Other amounts payable | 47/48 | €280,146 | €294,491 | +€14,345 | +5.1% |
| Non-recurring operating income | 76A | €73,285 | €130,000 | +€56,715 | +77.4% |
| Remuneration, social security and pensions | 62 | €129,901 | €132,470 | +€2,569 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,676,164 | €1,639,033 | -€37,131 | -2.2% |
| Other operating charges | 640/8 | €4,264 | €4,277 | +€13 | +0.3% |
| Gross operating margin | 9900 | €1,767,521 | €2,008,542 | +€241,021 | +13.6% |
| Operating profit (loss) | 9901 | -€42,808 | €232,762 | +€275,570 | |
| Financial income | 75/76B | €49,515 | €94,752 | +€45,237 | +91.4% |
| Recurring financial income | 75 | €49,515 | €94,752 | +€45,237 | +91.4% |
| Financial charges | 65/66B | €126,547 | €172,637 | +€46,091 | +36.4% |
| Recurring financial charges | 65 | €126,547 | €172,637 | +€46,091 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | -€119,839 | €154,877 | +€274,716 | |
| Transfer from deferred taxes | 780 | €44,830 | €46,344 | +€1,513 | +3.4% |
| Transfer to deferred taxes | 680 | €18,250 | €31,000 | +€12,750 | +69.9% |
| Income taxes | 67/77 | €2 | €5 | +€3 | +145.1% |
| Profit (loss) for the period | 9904 | -€93,261 | €170,216 | +€263,477 | |
| Transfer from tax-exempt reserves | 789 | €131,973 | €139,031 | +€7,058 | +5.3% |
| Transfer to tax-exempt reserves | 689 | €54,750 | €93,000 | +€38,250 | +69.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,038 | €216,247 | +€232,285 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.