FRED-O: what changed
FRED-O
Largest movements
- Cash +€29,370
up €29,370 (+33.3%), from €88,243 to €117,613
mainly Other debts (+€43,617) and Trade debts (+€32,571)
- Tangible fixed assets -€2,548
down €2,548 (-41.1%), from €6,197 to €3,649
of which Other tangible fixed assets: -€1,499
- Receivables within one year +€2,210
up €2,210 (+3.6%), from €61,507 to €63,717
of which Trade receivables: +€3,609
- Reserves -€46,255
down €46,255 (-49.0%), from €94,486 to €48,232
of which Distributable reserves: -€46,255
- Other debts +€43,617
up €43,617 (+101%), from €43,034 to €86,650
- Trade debts +€32,571
up €32,571 (+513%), from €6,344 to €38,915
- Short-term financial debts -€2,555
down €2,555 (-92.1%), from €2,776 to €221
- Gross operating margin +€9,884
up €9,884 (+71.8%), from €13,762 to €23,646
- Taxes +€2,571
up €2,571 (+74.1%), from €3,469 to €6,040
- Depreciation -€973
down €973 (-27.6%), from €3,521 to €2,548
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €165,240 | €192,617 | +€27,378 | +16.6% |
| Fixed assets | 21/28 | €6,397 | €3,849 | -€2,548 | -39.8% |
| Tangible fixed assets | 22/27 | €6,197 | €3,649 | -€2,548 | -41.1% |
| Furniture and vehicles | 24 | €1,477 | €428 | -€1,048 | -71.0% |
| Other tangible fixed assets | 26 | €4,720 | €3,220 | -€1,499 | -31.8% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €158,843 | €188,768 | +€29,926 | +18.8% |
| Amounts receivable within one year | 40/41 | €61,507 | €63,717 | +€2,210 | +3.6% |
| Trade receivables | 40 | €41,213 | €44,822 | +€3,609 | +8.8% |
| Other amounts receivable | 41 | €20,294 | €18,895 | -€1,399 | -6.9% |
| Cash at bank and in hand | 54/58 | €88,243 | €117,613 | +€29,370 | +33.3% |
| Deferred charges and accrued income | 490/1 | €9,093 | €7,439 | -€1,654 | -18.2% |
| Total equity and liabilities | 10/49 | €165,240 | €192,617 | +€27,378 | +16.6% |
| Equity | 10/15 | €113,086 | €66,832 | -€46,255 | -40.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,486 | €48,232 | -€46,255 | -49.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €94,486 | €48,232 | -€46,255 | -49.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,153 | €125,786 | +€73,633 | +141% |
| Amounts payable within one year | 42/48 | €52,153 | €125,786 | +€73,633 | +141% |
| Financial debts | 43 | €2,776 | €221 | -€2,555 | -92.1% |
| Credit institutions | 430/8 | €2,776 | €221 | -€2,555 | -92.1% |
| Trade debts | 44 | €6,344 | €38,915 | +€32,571 | +513% |
| Suppliers | 440/4 | €6,344 | €38,915 | +€32,571 | +513% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €43,034 | €86,650 | +€43,617 | +101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,521 | €2,548 | -€973 | -27.6% |
| Other operating charges | 640/8 | €380 | €236 | -€144 | -38.0% |
| Gross operating margin | 9900 | €13,762 | €23,646 | +€9,884 | +71.8% |
| Operating profit (loss) | 9901 | €9,862 | €20,863 | +€11,001 | +112% |
| Financial income | 75/76B | €32 | €245 | +€214 | +677% |
| Recurring financial income | 75 | €32 | €245 | +€214 | +677% |
| Financial charges | 65/66B | €334 | €389 | +€55 | +16.5% |
| Recurring financial charges | 65 | €334 | €389 | +€55 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €9,559 | €20,719 | +€11,160 | +117% |
| Income taxes | 67/77 | €3,469 | €6,040 | +€2,571 | +74.1% |
| Profit (loss) for the period | 9904 | €6,090 | €14,679 | +€8,588 | +141% |
| Profit (loss) for the period to be appropriated | 9905 | €6,090 | €14,679 | +€8,588 | +141% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.