FRED SERVICES: 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 SERVICES
Largest movements
- Tangible fixed assets +€102,598
up €102,598 (+1117.0%), from €9,185 to €111,783
of which Furniture and vehicles: +€102,888
- Cash -€84,539
down €84,539 (-51.0%), from €165,856 to €81,317
mainly Investment in fixed assets (net) (-€109,802) and Tax, wage and social debts (-€1,074)
- Profit (loss) carried forward +€10,506
up €10,506 (+18.7%), from €56,164 to €66,671
- Other debts +€4,836
up €4,836 (+7.1%), from €67,943 to €72,779
- Trade debts +€3,117
up €3,117 (+89.1%), from €3,499 to €6,615
- Depreciation +€1,387
up €1,387 (+23.8%), from €5,817 to €7,204
- Gross operating margin -€868
down €868 (-3.6%), from €24,275 to €23,408
- Taxes +€338
up €338 (+8.6%), from €3,912 to €4,250
- Financial charges +€247
up €247 (+67.4%), from €366 to €613
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 | €214,777 | €232,161 | +€17,385 | +8.1% |
| Fixed assets | 21/28 | €9,335 | €111,933 | +€102,598 | +1099.1% |
| Tangible fixed assets | 22/27 | €9,185 | €111,783 | +€102,598 | +1117.0% |
| Plant, machinery and equipment | 23 | €1,378 | €1,088 | -€290 | -21.0% |
| Furniture and vehicles | 24 | €7,807 | €110,695 | +€102,888 | +1317.9% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €205,442 | €120,229 | -€85,213 | -41.5% |
| Amounts receivable within one year | 40/41 | €38,159 | €36,472 | -€1,688 | -4.4% |
| Trade receivables | 40 | €36,478 | €35,232 | -€1,247 | -3.4% |
| Other amounts receivable | 41 | €1,681 | €1,240 | -€441 | -26.2% |
| Cash at bank and in hand | 54/58 | €165,856 | €81,317 | -€84,539 | -51.0% |
| Deferred charges and accrued income | 490/1 | €1,426 | €2,440 | +€1,013 | +71.1% |
| Total equity and liabilities | 10/49 | €214,777 | €232,161 | +€17,385 | +8.1% |
| Equity | 10/15 | €138,664 | €149,171 | +€10,506 | +7.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,164 | €66,671 | +€10,506 | +18.7% |
| Amounts payable | 17/49 | €76,112 | €82,991 | +€6,878 | +9.0% |
| Amounts payable within one year | 42/48 | €76,112 | €82,991 | +€6,878 | +9.0% |
| Trade debts | 44 | €3,499 | €6,615 | +€3,117 | +89.1% |
| Suppliers | 440/4 | €3,499 | €6,615 | +€3,117 | +89.1% |
| Taxes, remuneration and social security | 45 | €4,670 | €3,597 | -€1,074 | -23.0% |
| Taxes | 450/3 | €4,670 | €3,597 | -€1,074 | -23.0% |
| Other amounts payable | 47/48 | €67,943 | €72,779 | +€4,836 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,817 | €7,204 | +€1,387 | +23.8% |
| Other operating charges | 640/8 | €1,232 | €1,404 | +€172 | +14.0% |
| Gross operating margin | 9900 | €24,275 | €23,408 | -€868 | -3.6% |
| Operating profit (loss) | 9901 | €17,226 | €14,800 | -€2,426 | -14.1% |
| Financial income | 75/76B | €652 | €569 | -€84 | -12.8% |
| Recurring financial income | 75 | €652 | €569 | -€84 | -12.8% |
| Financial charges | 65/66B | €366 | €613 | +€247 | +67.4% |
| Recurring financial charges | 65 | €366 | €613 | +€247 | +67.4% |
| Profit (loss) for the period before taxes | 9903 | €17,512 | €14,756 | -€2,757 | -15.7% |
| Income taxes | 67/77 | €3,912 | €4,250 | +€338 | +8.6% |
| Profit (loss) for the period | 9904 | €13,601 | €10,506 | -€3,095 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,601 | €10,506 | -€3,095 | -22.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.