FRED: 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.
FRED
Largest movements
- Receivables within one year -€89,781
down €89,781 (-10.4%), from €864,471 to €774,689
of which Other amounts receivable: -€87,891
- Tangible fixed assets -€58,303
down €58,303 (-5.8%), from €1.0m to €955,026
of which Land and buildings: -€57,303
- Cash -€34,019
down €34,019 (-90.5%), from €37,598 to €3,579
mainly Debts after one year (-€139,624) and Contributions, distributions and other (-€95,916)
- Debts after one year -€139,624
down €139,624 (-18.1%), from €771,883 to €632,259
- Other debts -€78,634
down €78,634 (-69.6%), from €112,974 to €34,341
- Gross operating margin +€34,945
up €34,945 (+17.6%), from €198,214 to €233,158
- Taxes +€13,040
up €13,040 (+31.0%), from €42,107 to €55,147
- Financial charges -€3,730
down €3,730 (-12.1%), from €30,795 to €27,065
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 | €2,082,029 | €1,903,149 | -€178,881 | -8.6% |
| Fixed assets | 21/28 | €1,177,825 | €1,119,521 | -€58,303 | -5.0% |
| Tangible fixed assets | 22/27 | €1,013,329 | €955,026 | -€58,303 | -5.8% |
| Land and buildings | 22 | €1,005,628 | €948,324 | -€57,303 | -5.7% |
| Furniture and vehicles | 24 | €7,701 | €6,701 | -€1,000 | -13.0% |
| Financial fixed assets | 28 | €164,495 | €164,495 | = | 0.0% |
| Current assets | 29/58 | €904,205 | €783,627 | -€120,577 | -13.3% |
| Amounts receivable within one year | 40/41 | €864,471 | €774,689 | -€89,781 | -10.4% |
| Trade receivables | 40 | €41,347 | €39,457 | -€1,890 | -4.6% |
| Other amounts receivable | 41 | €823,124 | €735,232 | -€87,891 | -10.7% |
| Cash at bank and in hand | 54/58 | €37,598 | €3,579 | -€34,019 | -90.5% |
| Deferred charges and accrued income | 490/1 | €2,136 | €5,359 | +€3,224 | +151% |
| Total equity and liabilities | 10/49 | €2,082,029 | €1,903,149 | -€178,881 | -8.6% |
| Equity | 10/15 | €954,961 | €970,968 | +€16,006 | +1.7% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €923,961 | €939,968 | +€16,006 | +1.7% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €130,949 | €117,878 | -€13,071 | -10.0% |
| Distributable reserves | 133 | €789,912 | €818,989 | +€29,077 | +3.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €67,305 | €60,574 | -€6,730 | -10.0% |
| Deferred taxes | 168 | €67,305 | €60,574 | -€6,730 | -10.0% |
| Amounts payable | 17/49 | €1,059,763 | €871,607 | -€188,157 | -17.8% |
| Amounts payable after more than one year | 17 | €771,883 | €632,259 | -€139,624 | -18.1% |
| Financial debts | 170/4 | €771,883 | €632,259 | -€139,624 | -18.1% |
| Amounts payable within one year | 42/48 | €286,027 | €234,487 | -€51,540 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €142,913 | €139,624 | -€3,289 | -2.3% |
| Financial debts | 43 | - | €8,431 | +€8,431 | |
| Credit institutions | 430/8 | - | €8,431 | +€8,431 | |
| Trade debts | 44 | €2,614 | €12,274 | +€9,660 | +370% |
| Suppliers | 440/4 | €2,614 | €12,274 | +€9,660 | +370% |
| Taxes, remuneration and social security | 45 | €27,526 | €39,817 | +€12,291 | +44.7% |
| Taxes | 450/3 | €27,526 | €39,817 | +€12,291 | +44.7% |
| Other amounts payable | 47/48 | €112,974 | €34,341 | -€78,634 | -69.6% |
| Accrued charges and deferred income | 492/3 | €1,853 | €4,860 | +€3,007 | +162% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,303 | €58,303 | = | 0.0% |
| Other operating charges | 640/8 | €5,764 | €5,934 | +€170 | +2.9% |
| Gross operating margin | 9900 | €198,214 | €233,158 | +€34,945 | +17.6% |
| Operating profit (loss) | 9901 | €134,146 | €168,921 | +€34,775 | +25.9% |
| Financial income | 75/76B | €19,672 | €18,484 | -€1,189 | -6.0% |
| Recurring financial income | 75 | €19,672 | €18,484 | -€1,189 | -6.0% |
| Financial charges | 65/66B | €30,795 | €27,065 | -€3,730 | -12.1% |
| Recurring financial charges | 65 | €30,795 | €27,065 | -€3,730 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €123,023 | €160,339 | +€37,316 | +30.3% |
| Transfer from deferred taxes | 780 | €6,730 | €6,730 | = | 0.0% |
| Income taxes | 67/77 | €42,107 | €55,147 | +€13,040 | +31.0% |
| Profit (loss) for the period | 9904 | €87,646 | €111,923 | +€24,276 | +27.7% |
| Transfer from tax-exempt reserves | 789 | €13,071 | €13,071 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,717 | €124,994 | +€24,276 | +24.1% |
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 20 October 2026 via checked.be.