FRECOM: 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.
FRECOM
Largest movements
- Tangible fixed assets -€36,528
down €36,528 (-1.4%), from €2.5m to €2.5m
of which Land and buildings: -€86,271
- Debts after one year -€103,401
down €103,401 (-6.1%), from €1.7m to €1.6m
of which Financial debts: -€85,401
- Other debts +€96,957
up €96,957 (+16.0%), from €607,631 to €704,588
- Gross operating margin +€72,239
up €72,239 (+63.2%), from €114,325 to €186,564
- Depreciation +€57,426
up €57,426 (+199.1%), from €28,845 to €86,271
- Financial charges +€30,878
up €30,878 (+155.3%), from €19,876 to €50,754
- Other operating charges +€13,493
up €13,493 (+1208.4%), from €1,117 to €14,610
- Taxes +€3,831
up €3,831 (+65.3%), from €5,862 to €9,693
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,180,093 | €3,194,591 | +€14,499 | +0.5% |
| Fixed assets | 21/28 | €3,129,451 | €3,092,923 | -€36,528 | -1.2% |
| Tangible fixed assets | 22/27 | €2,539,785 | €2,503,256 | -€36,528 | -1.4% |
| Land and buildings | 22 | €2,539,785 | €2,453,513 | -€86,271 | -3.4% |
| Plant, machinery and equipment | 23 | - | €49,743 | +€49,743 | |
| Financial fixed assets | 28 | €589,667 | €589,667 | = | 0.0% |
| Current assets | 29/58 | €50,641 | €101,668 | +€51,027 | +100.8% |
| Amounts receivable within one year | 40/41 | €35,324 | €57,110 | +€21,787 | +61.7% |
| Trade receivables | 40 | €30,500 | €42,953 | +€12,453 | +40.8% |
| Other amounts receivable | 41 | €4,824 | €14,157 | +€9,333 | +193.5% |
| Cash at bank and in hand | 54/58 | €15,318 | €44,558 | +€29,240 | +190.9% |
| Total equity and liabilities | 10/49 | €3,180,093 | €3,194,591 | +€14,499 | +0.5% |
| Equity | 10/15 | €738,248 | €763,483 | +€25,235 | +3.4% |
| Contributions | 10/11 | €139,000 | €139,000 | = | 0.0% |
| Revaluation surpluses | 12 | €86,117 | €86,117 | = | 0.0% |
| Reserves | 13 | €513,130 | €538,366 | +€25,235 | +4.9% |
| Non-distributable reserves | 130/1 | €13,900 | €13,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,900 | €13,900 | = | 0.0% |
| Distributable reserves | 133 | €499,230 | €524,466 | +€25,235 | +5.1% |
| Amounts payable | 17/49 | €2,441,845 | €2,431,108 | -€10,737 | -0.4% |
| Amounts payable after more than one year | 17 | €1,707,006 | €1,603,604 | -€103,401 | -6.1% |
| Financial debts | 170/4 | €1,534,506 | €1,449,104 | -€85,401 | -5.6% |
| Other amounts payable | 178/9 | €172,500 | €154,500 | -€18,000 | -10.4% |
| Amounts payable within one year | 42/48 | €734,840 | €826,669 | +€91,829 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €102,812 | €103,401 | +€589 | +0.6% |
| Trade debts | 44 | €6,566 | - | -€6,566 | |
| Suppliers | 440/4 | €6,566 | - | -€6,566 | |
| Taxes, remuneration and social security | 45 | €17,830 | €18,679 | +€849 | +4.8% |
| Taxes | 450/3 | €17,830 | €18,679 | +€849 | +4.8% |
| Other amounts payable | 47/48 | €607,631 | €704,588 | +€96,957 | +16.0% |
| Accrued charges and deferred income | 492/3 | - | €835 | +€835 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,845 | €86,271 | +€57,426 | +199.1% |
| Other operating charges | 640/8 | €1,117 | €14,610 | +€13,493 | +1208.4% |
| Gross operating margin | 9900 | €114,325 | €186,564 | +€72,239 | +63.2% |
| Operating profit (loss) | 9901 | €84,363 | €85,683 | +€1,319 | +1.6% |
| Financial charges | 65/66B | €19,876 | €50,754 | +€30,878 | +155.3% |
| Recurring financial charges | 65 | €19,876 | €50,754 | +€30,878 | +155.3% |
| Profit (loss) for the period before taxes | 9903 | €64,487 | €34,929 | -€29,558 | -45.8% |
| Income taxes | 67/77 | €5,862 | €9,693 | +€3,831 | +65.3% |
| Profit (loss) for the period | 9904 | €58,624 | €25,235 | -€33,389 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,624 | €25,235 | -€33,389 | -57.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.