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 -€14,241
down €14,241 (-64.7%), from €22,002 to €7,761
of which Leasing and similar rights: -€10,538
- Receivables within one year +€7,790
up €7,790 (+36.6%), from €21,256 to €29,046
of which Trade receivables: +€8,685
- Cash +€7,121
up €7,121 (+7.8%), from €91,863 to €98,984
mainly Depreciation (+€14,241) and Tax, wage and social debts (+€6,526)
- Deferred charges and accrued income -€3,465
down €3,465 (-73.1%), from €4,739 to €1,275
- Current portion of long-term debt -€7,486
no longer reported in 2025 (was €7,486)
- Tax, wage and social debts +€6,526
up €6,526 (+413.2%), from €1,579 to €8,106
- Trade debts -€3,026
down €3,026 (-92.9%), from €3,258 to €232
- Gross operating margin -€1,905
down €1,905 (-10.4%), from €18,327 to €16,422
- Depreciation -€1,646
down €1,646 (-10.4%), from €15,887 to €14,241
- Taxes -€1,078
down €1,078 (-69.2%), from €1,557 to €479
- Financial income +€529
up €529 (+299.7%), from €176 to €705
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 | €139,861 | €137,066 | -€2,795 | -2.0% |
| Fixed assets | 21/28 | €22,002 | €7,761 | -€14,241 | -64.7% |
| Tangible fixed assets | 22/27 | €22,002 | €7,761 | -€14,241 | -64.7% |
| Furniture and vehicles | 24 | €5,546 | €1,842 | -€3,704 | -66.8% |
| Leasing and similar rights | 25 | €16,456 | €5,918 | -€10,538 | -64.0% |
| Current assets | 29/58 | €117,859 | €129,305 | +€11,446 | +9.7% |
| Amounts receivable within one year | 40/41 | €21,256 | €29,046 | +€7,790 | +36.6% |
| Trade receivables | 40 | - | €8,685 | +€8,685 | |
| Other amounts receivable | 41 | €21,256 | €20,361 | -€895 | -4.2% |
| Cash at bank and in hand | 54/58 | €91,863 | €98,984 | +€7,121 | +7.8% |
| Deferred charges and accrued income | 490/1 | €4,739 | €1,275 | -€3,465 | -73.1% |
| Total equity and liabilities | 10/49 | €139,861 | €137,066 | -€2,795 | -2.0% |
| Equity | 10/15 | €114,203 | €115,393 | +€1,190 | +1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €108,003 | €109,193 | +€1,190 | +1.1% |
| Tax-exempt reserves | 132 | €241 | €241 | = | 0.0% |
| Distributable reserves | 133 | €107,763 | €108,953 | +€1,190 | +1.1% |
| Amounts payable | 17/49 | €25,658 | €21,673 | -€3,985 | -15.5% |
| Amounts payable after more than one year | 17 | €13,335 | €13,335 | = | 0.0% |
| Financial debts | 170/4 | €13,335 | €13,335 | = | 0.0% |
| Amounts payable within one year | 42/48 | €12,323 | €8,338 | -€3,985 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | €7,486 | - | -€7,486 | |
| Trade debts | 44 | €3,258 | €232 | -€3,026 | -92.9% |
| Suppliers | 440/4 | €3,258 | €232 | -€3,026 | -92.9% |
| Taxes, remuneration and social security | 45 | €1,579 | €8,106 | +€6,526 | +413.2% |
| Taxes | 450/3 | €1,579 | €8,106 | +€6,526 | +413.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,887 | €14,241 | -€1,646 | -10.4% |
| Other operating charges | 640/8 | €627 | €462 | -€165 | -26.4% |
| Gross operating margin | 9900 | €18,327 | €16,422 | -€1,905 | -10.4% |
| Operating profit (loss) | 9901 | €1,812 | €1,719 | -€93 | -5.1% |
| Financial income | 75/76B | €176 | €705 | +€529 | +299.7% |
| Recurring financial income | 75 | €176 | €705 | +€529 | +299.7% |
| Financial charges | 65/66B | €880 | €755 | -€125 | -14.2% |
| Recurring financial charges | 65 | €880 | €755 | -€125 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €1,108 | €1,669 | +€561 | +50.6% |
| Income taxes | 67/77 | €1,557 | €479 | -€1,078 | -69.2% |
| Profit (loss) for the period | 9904 | -€448 | €1,190 | +€1,638 | |
| Profit (loss) for the period to be appropriated | 9905 | -€448 | €1,190 | +€1,638 |
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.