FRED-INVEST: what changed
What changed
FRED-INVEST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€55,661
2024 · €96,197-€40,536
Equity
€62,668
2024 · €206,022-€143,354
Cash
€6,365
2024 · €1,461+€4,904
Balance sheet total
€538,959
2024 · €588,863-€49,904
Largest movements
Assets
- Receivables within one year -€43,843
down €43,843 (-25.4%), from €172,313 to €128,470
of which Trade receivables: -€43,840
- Tangible fixed assets -€10,965
down €10,965 (-2.6%), from €415,088 to €404,124
of which Land and buildings: -€10,582
Equity and liabilities
- Other debts +€144,334
up €144,334 (+93.9%), from €153,711 to €298,045
- Reserves -€143,354
down €143,354 (-71.3%), from €201,022 to €57,668
- Debts after one year -€30,510
down €30,510 (-18.3%), from €166,550 to €136,040
- Trade debts -€18,108
no longer reported in 2025 (was €18,108)
Income statement
- Gross operating margin -€52,422
down €52,422 (-36.5%), from €143,784 to €91,362
- Taxes -€13,124
down €13,124 (-41.2%), from €31,823 to €18,699
- Depreciation +€1,998
up €1,998 (+18.9%), from €10,592 to €12,590
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€96,197
Gross operating margin
-€52,422
Depreciation
-€1,998
Other operating charges
+€50
Financial income
+€1
Financial charges
+€709
Taxes
+€13,124
Result 2025
€55,661
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€239,836
Investment
-€1,625
Financing
-€233,307
Cash 2024
€1,461
From operations (derived)
+€239,836
Net result for the year
+€55,661
Depreciation
+€12,590
Receivables within one year
+€43,843
Trade debts
-€18,108
Tax, wage and social debts
+€1,517
Other debts
+€144,334
Investment (derived)
-€1,625
Investment in fixed assets (net)
-€1,625
Financing
-€233,307
Debts after one year
-€30,510
Current portion of long-term debt
+€345
Short-term financial debts
-€4,128
Contributions, distributions and other
-€199,015
Cash 2025
€6,365
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €588,863 | €538,959 | -€49,904 | -8.5% |
| Fixed assets | 21/28 | €415,088 | €404,124 | -€10,965 | -2.6% |
| Tangible fixed assets | 22/27 | €415,088 | €404,124 | -€10,965 | -2.6% |
| Land and buildings | 22 | €398,522 | €387,940 | -€10,582 | -2.7% |
| Other tangible fixed assets | 26 | €16,567 | €16,184 | -€383 | -2.3% |
| Current assets | 29/58 | €173,774 | €134,835 | -€38,939 | -22.4% |
| Amounts receivable within one year | 40/41 | €172,313 | €128,470 | -€43,843 | -25.4% |
| Trade receivables | 40 | €171,010 | €127,170 | -€43,840 | -25.6% |
| Other amounts receivable | 41 | €1,304 | €1,301 | -€3 | -0.2% |
| Cash at bank and in hand | 54/58 | €1,461 | €6,365 | +€4,904 | +336% |
| Total equity and liabilities | 10/49 | €588,863 | €538,959 | -€49,904 | -8.5% |
| Equity | 10/15 | €206,022 | €62,668 | -€143,354 | -69.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €201,022 | €57,668 | -€143,354 | -71.3% |
| Distributable reserves | 133 | €201,022 | €57,668 | -€143,354 | -71.3% |
| Amounts payable | 17/49 | €382,841 | €476,291 | +€93,451 | +24.4% |
| Amounts payable after more than one year | 17 | €166,550 | €136,040 | -€30,510 | -18.3% |
| Financial debts | 170/4 | €166,550 | €136,040 | -€30,510 | -18.3% |
| Amounts payable within one year | 42/48 | €216,291 | €340,251 | +€123,960 | +57.3% |
| Current portion of amounts payable after more than one year | 42 | €30,164 | €30,510 | +€345 | +1.1% |
| Financial debts | 43 | €10,921 | €6,793 | -€4,128 | -37.8% |
| Credit institutions | 430/8 | €10,921 | €6,793 | -€4,128 | -37.8% |
| Trade debts | 44 | €18,108 | - | -€18,108 | |
| Suppliers | 440/4 | €18,108 | - | -€18,108 | |
| Taxes, remuneration and social security | 45 | €3,387 | €4,904 | +€1,517 | +44.8% |
| Taxes | 450/3 | €3,387 | €4,904 | +€1,517 | +44.8% |
| Other amounts payable | 47/48 | €153,711 | €298,045 | +€144,334 | +93.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,592 | €12,590 | +€1,998 | +18.9% |
| Other operating charges | 640/8 | €1,750 | €1,700 | -€50 | -2.9% |
| Gross operating margin | 9900 | €143,784 | €91,362 | -€52,422 | -36.5% |
| Operating profit (loss) | 9901 | €131,443 | €77,073 | -€54,370 | -41.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €3,423 | €2,714 | -€709 | -20.7% |
| Recurring financial charges | 65 | €3,423 | €2,714 | -€709 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €128,020 | €74,360 | -€53,660 | -41.9% |
| Income taxes | 67/77 | €31,823 | €18,699 | -€13,124 | -41.2% |
| Profit (loss) for the period | 9904 | €96,197 | €55,661 | -€40,536 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €96,197 | €55,661 | -€40,536 | -42.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.