FRED ART'S: 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 ART'S
Largest movements
- Receivables within one year +€40,024
up €40,024 (+33.2%), from €120,456 to €160,480
of which Other amounts receivable: +€25,225
- Tangible fixed assets -€10,497
down €10,497 (-6.1%), from €172,499 to €162,002
of which Land and buildings: -€8,157
- Trade debts +€65,232
up €65,232 (+67.7%), from €96,373 to €161,604
- Profit (loss) carried forward -€29,820
new in 2024: -€29,820
- Debts after one year -€13,677
down €13,677 (-13.8%), from €99,455 to €85,778
- Tax, wage and social debts +€10,376
up €10,376 (+42.5%), from €24,422 to €34,798
of which Taxes: +€7,630
- Staff costs +€26,270
up €26,270 (+11.3%), from €233,177 to €259,447
- Gross operating margin -€17,855
down €17,855 (-6.8%), from €261,524 to €243,669
- Financial charges -€7,072
down €7,072 (-76.9%), from €9,194 to €2,122
- Taxes -€2,810
down €2,810 (-92.7%), from €3,031 to €221
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.
Derived cash bridge
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 | €297,033 | €328,249 | +€31,217 | +10.5% |
| Fixed assets | 21/28 | €172,499 | €162,002 | -€10,497 | -6.1% |
| Tangible fixed assets | 22/27 | €172,499 | €162,002 | -€10,497 | -6.1% |
| Land and buildings | 22 | €163,942 | €155,785 | -€8,157 | -5.0% |
| Plant, machinery and equipment | 23 | €4,817 | €3,554 | -€1,263 | -26.2% |
| Furniture and vehicles | 24 | €3,741 | €2,663 | -€1,078 | -28.8% |
| Current assets | 29/58 | €124,534 | €166,248 | +€41,714 | +33.5% |
| Amounts receivable within one year | 40/41 | €120,456 | €160,480 | +€40,024 | +33.2% |
| Trade receivables | 40 | €14,027 | €28,826 | +€14,799 | +106% |
| Other amounts receivable | 41 | €106,429 | €131,654 | +€25,225 | +23.7% |
| Cash at bank and in hand | 54/58 | €65 | €1,696 | +€1,631 | +2,521% |
| Deferred charges and accrued income | 490/1 | €4,013 | €4,071 | +€59 | +1.5% |
| Total equity and liabilities | 10/49 | €297,033 | €328,249 | +€31,217 | +10.5% |
| Equity | 10/15 | €48,798 | €18,977 | -€29,820 | -61.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €36,398 | €36,398 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,398 | €36,398 | = | 0.0% |
| Reserves not available under the articles | 1311 | €36,398 | €36,398 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€29,820 | -€29,820 | |
| Amounts payable | 17/49 | €248,235 | €309,272 | +€61,037 | +24.6% |
| Amounts payable after more than one year | 17 | €99,455 | €85,778 | -€13,677 | -13.8% |
| Financial debts | 170/4 | €99,455 | €85,778 | -€13,677 | -13.8% |
| Amounts payable within one year | 42/48 | €148,781 | €220,540 | +€71,760 | +48.2% |
| Current portion of amounts payable after more than one year | 42 | €20,666 | €19,138 | -€1,528 | -7.4% |
| Financial debts | 43 | €7,320 | €5,000 | -€2,320 | -31.7% |
| Credit institutions | 430/8 | €7,320 | €5,000 | -€2,320 | -31.7% |
| Trade debts | 44 | €96,373 | €161,604 | +€65,232 | +67.7% |
| Suppliers | 440/4 | €96,373 | €161,604 | +€65,232 | +67.7% |
| Taxes, remuneration and social security | 45 | €24,422 | €34,798 | +€10,376 | +42.5% |
| Taxes | 450/3 | €371 | €8,001 | +€7,630 | +2,058% |
| Remuneration and social security | 454/9 | €24,051 | €26,797 | +€2,746 | +11.4% |
| Accrued charges and deferred income | 492/3 | - | €2,954 | +€2,954 | |
| Remuneration, social security and pensions | 62 | €233,177 | €259,447 | +€26,270 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,299 | €12,779 | +€480 | +3.9% |
| Other operating charges | 640/8 | €4,830 | €5,658 | +€828 | +17.2% |
| Gross operating margin | 9900 | €261,524 | €243,669 | -€17,855 | -6.8% |
| Operating profit (loss) | 9901 | €11,219 | -€34,215 | -€45,434 | |
| Financial income | 75/76B | €5,181 | €6,738 | +€1,557 | +30.0% |
| Recurring financial income | 75 | €5,181 | €6,738 | +€1,557 | +30.0% |
| Financial charges | 65/66B | €9,194 | €2,122 | -€7,072 | -76.9% |
| Recurring financial charges | 65 | €9,194 | €2,122 | -€7,072 | -76.9% |
| Profit (loss) for the period before taxes | 9903 | €7,206 | -€29,599 | -€36,805 | |
| Income taxes | 67/77 | €3,031 | €221 | -€2,810 | -92.7% |
| Profit (loss) for the period | 9904 | €4,174 | -€29,820 | -€33,995 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,174 | -€29,820 | -€33,995 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.