FREDAN: 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.
FREDAN
Largest movements
- Receivables within one year +€5,402
up €5,402 (+41.7%), from €12,955 to €18,357
of which Trade receivables: +€7,952
- Cash -€3,381
no longer reported in 2025 (was €3,381)
mainly Advances received (-€5,700) and Receivables within one year (-€5,402)
- Deferred charges and accrued income -€2,164
no longer reported in 2025 (was €2,164)
- Other debts +€8,883
up €8,883 (+9.0%), from €99,224 to €108,107
- Advances received -€5,700
down €5,700 (-36.5%), from €15,605 to €9,905
- Profit (loss) carried forward -€3,619
down €3,619 (-2.3%), from -€159,476 to -€163,094
- Current portion of long-term debt +€2,399
up €2,399 (+197.5%), from €1,215 to €3,614
- Trade debts -€2,107
down €2,107 (-16.3%), from €12,932 to €10,825
- Gross operating margin +€10,345
up €10,345 (+91.4%), from -€11,324 to -€979
- Staff costs +€2,802
new in 2025: €2,802
- Financial income +€1,222
up €1,222 (+5431.6%), from €23 to €1,245
of which Non-recurring financial income: +€1,215
- Depreciation -€1,215
no longer reported in 2025 (was €1,215)
- Financial charges -€293
down €293 (-38.6%), from €758 to €465
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 | €18,500 | €18,357 | -€143 | -0.8% |
| Current assets | 29/58 | €18,500 | €18,357 | -€143 | -0.8% |
| Amounts receivable within one year | 40/41 | €12,955 | €18,357 | +€5,402 | +41.7% |
| Trade receivables | 40 | €9,499 | €17,451 | +€7,952 | +83.7% |
| Other amounts receivable | 41 | €3,456 | €906 | -€2,550 | -73.8% |
| Cash at bank and in hand | 54/58 | €3,381 | - | -€3,381 | |
| Deferred charges and accrued income | 490/1 | €2,164 | - | -€2,164 | |
| Total equity and liabilities | 10/49 | €18,500 | €18,357 | -€143 | -0.8% |
| Equity | 10/15 | -€140,476 | -€144,094 | -€3,619 | -2.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,476 | -€163,094 | -€3,619 | -2.3% |
| Amounts payable | 17/49 | €158,976 | €162,451 | +€3,476 | +2.2% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Financial debts | 170/4 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €128,976 | €132,451 | +€3,476 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €1,215 | €3,614 | +€2,399 | +197.5% |
| Trade debts | 44 | €12,932 | €10,825 | -€2,107 | -16.3% |
| Suppliers | 440/4 | €12,932 | €10,825 | -€2,107 | -16.3% |
| Advances received on contracts in progress | 46 | €15,605 | €9,905 | -€5,700 | -36.5% |
| Other amounts payable | 47/48 | €99,224 | €108,107 | +€8,883 | +9.0% |
| Remuneration, social security and pensions | 62 | - | €2,802 | +€2,802 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,215 | - | -€1,215 | |
| Other operating charges | 640/8 | €483 | €617 | +€134 | +27.8% |
| Gross operating margin | 9900 | -€11,324 | -€979 | +€10,345 | +91.4% |
| Operating profit (loss) | 9901 | -€13,022 | -€4,398 | +€8,624 | +66.2% |
| Financial income | 75/76B | €23 | €1,245 | +€1,222 | +5431.6% |
| Recurring financial income | 75 | €23 | €30 | +€7 | +31.7% |
| Non-recurring financial income | 76B | - | €1,215 | +€1,215 | |
| Financial charges | 65/66B | €758 | €465 | -€293 | -38.6% |
| Recurring financial charges | 65 | €758 | €465 | -€293 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,757 | -€3,619 | +€10,139 | +73.7% |
| Income taxes | 67/77 | €2 | - | -€2 | |
| Profit (loss) for the period | 9904 | -€13,760 | -€3,619 | +€10,141 | +73.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,760 | -€3,619 | +€10,141 | +73.7% |
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.