FREDESA: 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.
FREDESA
Largest movements
- Tangible fixed assets +€22,936
up €22,936 (+9.2%), from €249,134 to €272,070
- Cash -€12,669
down €12,669 (-79.0%), from €16,043 to €3,374
mainly Investment in fixed assets (net) (-€30,000) and Trade debts (-€26,515)
- Receivables within one year +€7,617
up €7,617 (+97.2%), from €7,837 to €15,453
of which Trade receivables: +€8,244
- Trade debts -€26,515
down €26,515 (-99.5%), from €26,656 to €141
- Advances received +€25,000
new in 2025: €25,000
- Debts after one year +€13,648
up €13,648 (+7.1%), from €191,090 to €204,738
- Current portion of long-term debt +€4,929
up €4,929 (+76.9%), from €6,410 to €11,339
- Profit (loss) carried forward +€3,619
up €3,619, from €0 to €3,619
- Depreciation +€5,198
up €5,198 (+279%), from €1,866 to €7,064
- Financial charges +€4,805
up €4,805 (+111%), from €4,312 to €9,117
- Taxes -€1,553
down €1,553 (-63.2%), from €2,458 to €905
- Other operating charges -€1,215
down €1,215 (-83.0%), from €1,464 to €249
- Gross operating margin +€1,126
up €1,126 (+5.7%), from €19,829 to €20,955
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.
Derived cash bridge
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 | €273,013 | €290,897 | +€17,884 | +6.6% |
| Fixed assets | 21/28 | €249,134 | €272,070 | +€22,936 | +9.2% |
| Tangible fixed assets | 22/27 | €249,134 | €272,070 | +€22,936 | +9.2% |
| Land and buildings | 22 | €249,134 | €272,070 | +€22,936 | +9.2% |
| Current assets | 29/58 | €23,879 | €18,827 | -€5,052 | -21.2% |
| Amounts receivable within one year | 40/41 | €7,837 | €15,453 | +€7,617 | +97.2% |
| Trade receivables | 40 | €6,300 | €14,544 | +€8,244 | +131% |
| Other amounts receivable | 41 | €1,537 | €910 | -€627 | -40.8% |
| Cash at bank and in hand | 54/58 | €16,043 | €3,374 | -€12,669 | -79.0% |
| Total equity and liabilities | 10/49 | €273,013 | €290,897 | +€17,884 | +6.6% |
| Equity | 10/15 | €11,554 | €15,173 | +€3,619 | +31.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €6,554 | €6,554 | = | 0.0% |
| Distributable reserves | 133 | €6,554 | €6,554 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €3,619 | +€3,619 | |
| Amounts payable | 17/49 | €261,460 | €275,724 | +€14,264 | +5.5% |
| Amounts payable after more than one year | 17 | €191,090 | €204,738 | +€13,648 | +7.1% |
| Financial debts | 170/4 | €191,090 | €204,738 | +€13,648 | +7.1% |
| Amounts payable within one year | 42/48 | €70,370 | €70,986 | +€616 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €6,410 | €11,339 | +€4,929 | +76.9% |
| Trade debts | 44 | €26,656 | €141 | -€26,515 | -99.5% |
| Suppliers | 440/4 | €26,656 | €141 | -€26,515 | -99.5% |
| Advances received on contracts in progress | 46 | - | €25,000 | +€25,000 | |
| Taxes, remuneration and social security | 45 | €3,703 | €905 | -€2,798 | -75.6% |
| Taxes | 450/3 | €3,703 | €905 | -€2,798 | -75.6% |
| Other amounts payable | 47/48 | €33,601 | €33,601 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,866 | €7,064 | +€5,198 | +279% |
| Other operating charges | 640/8 | €1,464 | €249 | -€1,215 | -83.0% |
| Gross operating margin | 9900 | €19,829 | €20,955 | +€1,126 | +5.7% |
| Operating profit (loss) | 9901 | €16,499 | €13,641 | -€2,858 | -17.3% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100% |
| Financial charges | 65/66B | €4,312 | €9,117 | +€4,805 | +111% |
| Recurring financial charges | 65 | €4,312 | €9,117 | +€4,805 | +111% |
| Profit (loss) for the period before taxes | 9903 | €12,189 | €4,524 | -€7,665 | -62.9% |
| Income taxes | 67/77 | €2,458 | €905 | -€1,553 | -63.2% |
| Profit (loss) for the period | 9904 | €9,731 | €3,619 | -€6,112 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,731 | €3,619 | -€6,112 | -62.8% |
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 29 October 2026 via checked.be.