FREDERIC'S: 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.
FREDERIC'S
Largest movements
- Receivables within one year +€71,136
up €71,136 (+28.3%), from €251,795 to €322,931
of which Trade receivables: +€73,517
- Tangible fixed assets -€40,500
down €40,500 (-18.6%), from €218,178 to €177,678
of which Land and buildings: -€28,515
- Other debts +€67,202
up €67,202 (+39.2%), from €171,567 to €238,770
- Trade debts -€16,678
down €16,678 (-28.5%), from €58,574 to €41,896
- Debts after one year -€16,198
down €16,198 (-38.9%), from €41,589 to €25,391
- Depreciation -€8,567
down €8,567 (-15.9%), from €53,895 to €45,328
- Financial charges +€7,323
up €7,323 (+130.7%), from €5,605 to €12,927
- Other operating charges +€3,516
up €3,516 (+424.9%), from €828 to €4,344
- Gross operating margin +€1,222
up €1,222 (+1.7%), from €73,761 to €74,984
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 | €469,998 | €500,633 | +€30,636 | +6.5% |
| Fixed assets | 21/28 | €218,203 | €177,703 | -€40,500 | -18.6% |
| Tangible fixed assets | 22/27 | €218,178 | €177,678 | -€40,500 | -18.6% |
| Land and buildings | 22 | €156,594 | €128,079 | -€28,515 | -18.2% |
| Furniture and vehicles | 24 | €16,579 | €16,411 | -€168 | -1.0% |
| Leasing and similar rights | 25 | €45,005 | €33,188 | -€11,818 | -26.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €251,795 | €322,931 | +€71,136 | +28.3% |
| Amounts receivable within one year | 40/41 | €251,795 | €322,931 | +€71,136 | +28.3% |
| Trade receivables | 40 | €157,120 | €230,637 | +€73,517 | +46.8% |
| Other amounts receivable | 41 | €94,675 | €92,293 | -€2,381 | -2.5% |
| Total equity and liabilities | 10/49 | €469,998 | €500,633 | +€30,636 | +6.5% |
| Equity | 10/15 | €163,565 | €163,896 | +€331 | +0.2% |
| Contributions | 10/11 | €302,000 | €302,000 | = | 0.0% |
| Capital | 10 | €302,000 | €302,000 | = | 0.0% |
| Issued capital | 100 | €302,000 | €302,000 | = | 0.0% |
| Reserves | 13 | €22,516 | €22,516 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,850 | €1,850 | = | 0.0% |
| Legal reserve | 130 | €1,850 | €1,850 | = | 0.0% |
| Distributable reserves | 133 | €20,667 | €20,667 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€160,951 | -€160,620 | +€331 | +0.2% |
| Amounts payable | 17/49 | €306,433 | €336,737 | +€30,304 | +9.9% |
| Amounts payable after more than one year | 17 | €41,589 | €25,391 | -€16,198 | -38.9% |
| Financial debts | 170/4 | €41,589 | €25,391 | -€16,198 | -38.9% |
| Amounts payable within one year | 42/48 | €264,844 | €311,346 | +€46,502 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €17,890 | €15,830 | -€2,061 | -11.5% |
| Financial debts | 43 | €14,974 | €14,049 | -€925 | -6.2% |
| Credit institutions | 430/8 | €14,974 | €14,049 | -€925 | -6.2% |
| Trade debts | 44 | €58,574 | €41,896 | -€16,678 | -28.5% |
| Suppliers | 440/4 | €58,574 | €41,896 | -€16,678 | -28.5% |
| Taxes, remuneration and social security | 45 | €1,839 | €802 | -€1,036 | -56.4% |
| Taxes | 450/3 | €1,137 | - | -€1,137 | |
| Remuneration and social security | 454/9 | €701 | €802 | +€101 | +14.4% |
| Other amounts payable | 47/48 | €171,567 | €238,770 | +€67,202 | +39.2% |
| Remuneration, social security and pensions | 62 | €11,991 | €12,053 | +€62 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,895 | €45,328 | -€8,567 | -15.9% |
| Other operating charges | 640/8 | €828 | €4,344 | +€3,516 | +424.9% |
| Gross operating margin | 9900 | €73,761 | €74,984 | +€1,222 | +1.7% |
| Operating profit (loss) | 9901 | €7,048 | €13,259 | +€6,211 | +88.1% |
| Financial income | 75/76B | €68 | - | -€68 | |
| Recurring financial income | 75 | €68 | - | -€68 | |
| Financial charges | 65/66B | €5,605 | €12,927 | +€7,323 | +130.7% |
| Recurring financial charges | 65 | €5,605 | €12,927 | +€7,323 | +130.7% |
| Profit (loss) for the period before taxes | 9903 | €1,511 | €331 | -€1,180 | -78.1% |
| Profit (loss) for the period | 9904 | €1,511 | €331 | -€1,180 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,511 | €331 | -€1,180 | -78.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.