FREDEX BATIMENT: 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.
FREDEX BATIMENT
Largest movements
- Cash -€68,364
down €68,364 (-97.1%), from €70,426 to €2,062
mainly Debts after one year (-€110,000) and Trade debts (-€80,620)
- Tangible fixed assets -€60,509
down €60,509 (-92.1%), from €65,699 to €5,191
of which Land and buildings: -€58,539
- Receivables within one year +€23,039
up €23,039 (+10.2%), from €226,083 to €249,122
of which Other amounts receivable: +€71,117
- Debts after one year -€110,000
no longer reported in 2025 (was €110,000)
- Trade debts -€80,620
down €80,620 (-85.7%), from €94,068 to €13,448
- Reserves +€70,000
up €70,000 (+65.8%), from €106,360 to €176,360
of which Distributable reserves: +€70,000
- Tax, wage and social debts +€24,902
new in 2025: €24,902
- Other debts -€10,490
no longer reported in 2025 (was €10,490)
- Financial charges -€30,419
down €30,419 (-74.9%), from €40,615 to €10,196
- Other operating charges -€28,808
down €28,808 (-46.5%), from €61,959 to €33,151
- Taxes +€24,902
new in 2025: €24,902
- Gross operating margin +€16,430
up €16,430 (+13.2%), from €124,606 to €141,036
- Depreciation -€10,649
down €10,649 (-81.4%), from €13,081 to €2,432
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 | €365,491 | €259,872 | -€105,620 | -28.9% |
| Fixed assets | 21/28 | €68,199 | €7,691 | -€60,509 | -88.7% |
| Tangible fixed assets | 22/27 | €65,699 | €5,191 | -€60,509 | -92.1% |
| Land and buildings | 22 | €58,539 | - | -€58,539 | |
| Plant, machinery and equipment | 23 | €4,982 | €3,825 | -€1,157 | -23.2% |
| Furniture and vehicles | 24 | €2,179 | €1,366 | -€813 | -37.3% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €297,292 | €252,181 | -€45,111 | -15.2% |
| Amounts receivable within one year | 40/41 | €226,083 | €249,122 | +€23,039 | +10.2% |
| Trade receivables | 40 | €204,683 | €156,605 | -€48,078 | -23.5% |
| Other amounts receivable | 41 | €21,400 | €92,517 | +€71,117 | +332.3% |
| Cash at bank and in hand | 54/58 | €70,426 | €2,062 | -€68,364 | -97.1% |
| Deferred charges and accrued income | 490/1 | €783 | €997 | +€214 | +27.4% |
| Total equity and liabilities | 10/49 | €365,491 | €259,872 | -€105,620 | -28.9% |
| Equity | 10/15 | €150,933 | €221,522 | +€70,588 | +46.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €106,360 | €176,360 | +€70,000 | +65.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €104,500 | €174,500 | +€70,000 | +67.0% |
| Profit (loss) carried forward | 14 | €25,973 | €26,562 | +€588 | +2.3% |
| Amounts payable | 17/49 | €214,558 | €38,350 | -€176,208 | -82.1% |
| Amounts payable after more than one year | 17 | €110,000 | - | -€110,000 | |
| Financial debts | 170/4 | €110,000 | - | -€110,000 | |
| Amounts payable within one year | 42/48 | €104,558 | €38,350 | -€66,208 | -63.3% |
| Trade debts | 44 | €94,068 | €13,448 | -€80,620 | -85.7% |
| Suppliers | 440/4 | €94,068 | €13,448 | -€80,620 | -85.7% |
| Taxes, remuneration and social security | 45 | - | €24,902 | +€24,902 | |
| Taxes | 450/3 | - | €24,902 | +€24,902 | |
| Other amounts payable | 47/48 | €10,490 | - | -€10,490 | |
| Non-recurring operating income | 76A | €116,750 | €161,461 | +€44,711 | +38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,081 | €2,432 | -€10,649 | -81.4% |
| Other operating charges | 640/8 | €61,959 | €33,151 | -€28,808 | -46.5% |
| Gross operating margin | 9900 | €124,606 | €141,036 | +€16,430 | +13.2% |
| Operating profit (loss) | 9901 | €49,566 | €105,453 | +€55,887 | +112.8% |
| Financial income | 75/76B | €10 | €233 | +€223 | +2136.7% |
| Recurring financial income | 75 | €10 | €233 | +€223 | +2136.7% |
| Financial charges | 65/66B | €40,615 | €10,196 | -€30,419 | -74.9% |
| Recurring financial charges | 65 | €40,615 | €10,196 | -€30,419 | -74.9% |
| Profit (loss) for the period before taxes | 9903 | €8,962 | €95,490 | +€86,529 | +965.6% |
| Income taxes | 67/77 | - | €24,902 | +€24,902 | |
| Profit (loss) for the period | 9904 | €8,962 | €70,588 | +€61,627 | +687.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,962 | €70,588 | +€61,627 | +687.7% |
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 4 October 2026 via checked.be.