FREDENCO: 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.
FREDENCO
Largest movements
- Tangible fixed assets -€11,187
down €11,187 (-16.7%), from €67,001 to €55,814
- Receivables within one year +€6,440
up €6,440 (+31.9%), from €20,216 to €26,656
- Other debts -€7,800
down €7,800 (-73.9%), from €10,554 to €2,754
- Profit (loss) carried forward +€3,425
up €3,425 (+4.7%), from -€72,465 to -€69,040
- Gross operating margin +€1,747
up €1,747 (+11.5%), from €15,167 to €16,914
- Depreciation -€1,155
down €1,155 (-9.4%), from €12,343 to €11,187
- Financial income +€191
up €191 (+17.7%), from €1,079 to €1,270
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,217 | €82,470 | -€4,748 | -5.4% |
| Fixed assets | 21/28 | €67,001 | €55,814 | -€11,187 | -16.7% |
| Tangible fixed assets | 22/27 | €67,001 | €55,814 | -€11,187 | -16.7% |
| Land and buildings | 22 | €67,001 | €55,814 | -€11,187 | -16.7% |
| Current assets | 29/58 | €20,216 | €26,656 | +€6,440 | +31.9% |
| Amounts receivable within one year | 40/41 | €20,216 | €26,656 | +€6,440 | +31.9% |
| Other amounts receivable | 41 | €20,216 | €26,656 | +€6,440 | +31.9% |
| Total equity and liabilities | 10/49 | €87,217 | €82,470 | -€4,748 | -5.4% |
| Equity | 10/15 | €76,290 | €79,716 | +€3,425 | +4.5% |
| Contributions | 10/11 | €148,755 | €148,755 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Outside capital | 11 | €19 | €19 | = | 0.0% |
| Share premium | 1100/10 | €19 | €19 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,465 | -€69,040 | +€3,425 | +4.7% |
| Amounts payable | 17/49 | €10,927 | €2,754 | -€8,173 | -74.8% |
| Amounts payable within one year | 42/48 | €10,927 | €2,754 | -€8,173 | -74.8% |
| Trade debts | 44 | €373 | €0 | -€373 | -100.0% |
| Suppliers | 440/4 | €373 | €0 | -€373 | -100.0% |
| Other amounts payable | 47/48 | €10,554 | €2,754 | -€7,800 | -73.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,343 | €11,187 | -€1,155 | -9.4% |
| Other operating charges | 640/8 | €3,464 | €3,571 | +€107 | +3.1% |
| Gross operating margin | 9900 | €15,167 | €16,914 | +€1,747 | +11.5% |
| Operating profit (loss) | 9901 | -€640 | €2,155 | +€2,795 | |
| Financial income | 75/76B | €1,079 | €1,270 | +€191 | +17.7% |
| Recurring financial income | 75 | €1,079 | €1,270 | +€191 | +17.7% |
| Financial charges | 65/66B | €10 | €0 | -€10 | -100.0% |
| Recurring financial charges | 65 | €10 | €0 | -€10 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €430 | €3,425 | +€2,996 | +697.3% |
| Profit (loss) for the period | 9904 | €430 | €3,425 | +€2,996 | +697.3% |
| Profit (loss) for the period to be appropriated | 9905 | €430 | €3,425 | +€2,996 | +697.3% |
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 29 September 2026 via checked.be.