FredFred: 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.
FredFred
Largest movements
- Cash -€10,969
down €10,969 (-6.1%), from €178,614 to €167,645
mainly Tax, wage and social debts (-€11,527) and Receivables within one year (-€10,601)
- Receivables within one year +€10,601
up €10,601 (+281.3%), from €3,768 to €14,370
of which Other amounts receivable: +€11,838
- Tangible fixed assets -€2,144
down €2,144 (-16.3%), from €13,130 to €10,986
- Profit (loss) carried forward +€18,202
up €18,202 (+14.5%), from €125,367 to €143,569
- Tax, wage and social debts -€11,527
down €11,527 (-44.5%), from €25,898 to €14,371
- Other debts -€7,000
down €7,000 (-54.9%), from €12,745 to €5,745
- Gross operating margin -€30,116
down €30,116 (-48.7%), from €61,833 to €31,717
- Taxes -€6,808
down €6,808 (-52.1%), from €13,071 to €6,262
- Financial charges -€4,837
down €4,837 (-52.9%), from €9,147 to €4,311
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 | €195,512 | €193,938 | -€1,574 | -0.8% |
| Fixed assets | 21/28 | €13,130 | €10,986 | -€2,144 | -16.3% |
| Tangible fixed assets | 22/27 | €13,130 | €10,986 | -€2,144 | -16.3% |
| Other tangible fixed assets | 26 | €13,130 | €10,986 | -€2,144 | -16.3% |
| Current assets | 29/58 | €182,382 | €182,952 | +€569 | +0.3% |
| Amounts receivable within one year | 40/41 | €3,768 | €14,370 | +€10,601 | +281.3% |
| Trade receivables | 40 | €3,768 | €2,532 | -€1,237 | -32.8% |
| Other amounts receivable | 41 | - | €11,838 | +€11,838 | |
| Cash at bank and in hand | 54/58 | €178,614 | €167,645 | -€10,969 | -6.1% |
| Deferred charges and accrued income | 490/1 | - | €937 | +€937 | |
| Total equity and liabilities | 10/49 | €195,512 | €193,938 | -€1,574 | -0.8% |
| Equity | 10/15 | €135,367 | €153,569 | +€18,202 | +13.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,367 | €143,569 | +€18,202 | +14.5% |
| Amounts payable | 17/49 | €60,145 | €40,369 | -€19,776 | -32.9% |
| Amounts payable within one year | 42/48 | €60,145 | €40,369 | -€19,776 | -32.9% |
| Trade debts | 44 | €21,502 | €20,253 | -€1,249 | -5.8% |
| Suppliers | 440/4 | €21,502 | €20,253 | -€1,249 | -5.8% |
| Taxes, remuneration and social security | 45 | €25,898 | €14,371 | -€11,527 | -44.5% |
| Taxes | 450/3 | €25,898 | €14,371 | -€11,527 | -44.5% |
| Other amounts payable | 47/48 | €12,745 | €5,745 | -€7,000 | -54.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,144 | €2,144 | = | 0.0% |
| Other operating charges | 640/8 | €1,388 | €799 | -€590 | -42.5% |
| Gross operating margin | 9900 | €61,833 | €31,717 | -€30,116 | -48.7% |
| Operating profit (loss) | 9901 | €58,301 | €28,775 | -€29,526 | -50.6% |
| Financial charges | 65/66B | €9,147 | €4,311 | -€4,837 | -52.9% |
| Recurring financial charges | 65 | €9,147 | €4,311 | -€4,837 | -52.9% |
| Profit (loss) for the period before taxes | 9903 | €49,153 | €24,464 | -€24,689 | -50.2% |
| Income taxes | 67/77 | €13,071 | €6,262 | -€6,808 | -52.1% |
| Profit (loss) for the period | 9904 | €36,082 | €18,202 | -€17,881 | -49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,082 | €18,202 | -€17,881 | -49.6% |
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 8 October 2026 via checked.be.