FREDDY EXPRESS: what changed
Two fiscal 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.
FREDDY EXPRESS
Largest movements
- Receivables within one year +€8,225
up €8,225 (+35.7%), from €23,029 to €31,254
of which Other amounts receivable: +€8,248
- Tangible fixed assets -€3,440
down €3,440 (-30.0%), from €11,455 to €8,016
- Cash -€583
down €583 (-84.6%), from €689 to €106
mainly Receivables within one year (-€8,225) and Debts after one year (-€5,690)
- Profit (loss) carried forward +€9,534
up €9,534 (+89.4%), from €10,667 to €20,201
- Debts after one year -€5,690
no longer reported in 2025 (was €5,690)
- Tax, wage and social debts +€3,537
up €3,537 (+51.5%), from €6,873 to €10,410
- Trade debts -€3,528
down €3,528 (-59.4%), from €5,944 to €2,416
- Other operating charges -€3,336
down €3,336 (-56.5%), from €5,903 to €2,567
- Financial income -€1,478
no longer reported in 2025 (was €1,478)
- Financial charges -€983
down €983 (-94.6%), from €1,039 to €56
- Gross operating margin -€432
down €432 (-2.3%), from €19,011 to €18,579
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 | €35,174 | €39,376 | +€4,203 | +11.9% |
| Fixed assets | 21/28 | €11,455 | €8,016 | -€3,440 | -30.0% |
| Tangible fixed assets | 22/27 | €11,455 | €8,016 | -€3,440 | -30.0% |
| Furniture and vehicles | 24 | €11,455 | €8,016 | -€3,440 | -30.0% |
| Current assets | 29/58 | €23,718 | €31,360 | +€7,642 | +32.2% |
| Amounts receivable within one year | 40/41 | €23,029 | €31,254 | +€8,225 | +35.7% |
| Trade receivables | 40 | €23 | - | -€23 | |
| Other amounts receivable | 41 | €23,006 | €31,254 | +€8,248 | +35.9% |
| Cash at bank and in hand | 54/58 | €689 | €106 | -€583 | -84.6% |
| Total equity and liabilities | 10/49 | €35,174 | €39,376 | +€4,203 | +11.9% |
| Equity | 10/15 | €10,667 | €20,201 | +€9,534 | +89.4% |
| Profit (loss) carried forward | 14 | €10,667 | €20,201 | +€9,534 | +89.4% |
| Amounts payable | 17/49 | €24,506 | €19,175 | -€5,331 | -21.8% |
| Amounts payable after more than one year | 17 | €5,690 | - | -€5,690 | |
| Financial debts | 170/4 | €5,690 | - | -€5,690 | |
| Amounts payable within one year | 42/48 | €18,817 | €19,175 | +€358 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €6,349 | +€349 | +5.8% |
| Trade debts | 44 | €5,944 | €2,416 | -€3,528 | -59.4% |
| Suppliers | 440/4 | €5,944 | €2,416 | -€3,528 | -59.4% |
| Taxes, remuneration and social security | 45 | €6,873 | €10,410 | +€3,537 | +51.5% |
| Taxes | 450/3 | €6,873 | €10,410 | +€3,537 | +51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,440 | €3,440 | = | 0.0% |
| Other operating charges | 640/8 | €5,903 | €2,567 | -€3,336 | -56.5% |
| Gross operating margin | 9900 | €19,011 | €18,579 | -€432 | -2.3% |
| Operating profit (loss) | 9901 | €9,668 | €12,573 | +€2,905 | +30.0% |
| Financial income | 75/76B | €1,478 | - | -€1,478 | |
| Recurring financial income | 75 | €1,478 | - | -€1,478 | |
| Financial charges | 65/66B | €1,039 | €56 | -€983 | -94.6% |
| Recurring financial charges | 65 | €1,039 | €56 | -€983 | -94.6% |
| Profit (loss) for the period before taxes | 9903 | €10,106 | €12,517 | +€2,410 | +23.8% |
| Income taxes | 67/77 | €3,149 | €2,983 | -€166 | -5.3% |
| Profit (loss) for the period | 9904 | €6,958 | €9,534 | +€2,576 | +37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,958 | €9,534 | +€2,576 | +37.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.