FREDINCO: 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.
FREDINCO
Largest movements
- Receivables within one year +€8.8m
up €8.8m (+350.3%), from €2.5m to €11.3m
- Current investments +€3.5m
up €3.5m (+18.7%), from €18.9m to €22.4m
- Cash -€2.3m
down €2.3m (-88.2%), from €2.6m to €311,731
mainly Receivables within one year (-€8.8m) and Current investments (-€3.5m)
- Reserves +€11.4m
up €11.4m (+54.0%), from €21.0m to €32.4m
of which Distributable reserves: +€11.4m
- Other debts -€1.9m
down €1.9m (-100.0%), from €1.9m to €0
- Tax, wage and social debts +€534,855
up €534,855 (+137.1%), from €390,133 to €924,988
- Financial income +€8.1m
up €8.1m (+172.5%), from €4.7m to €12.8m
- Taxes +€702,656
up €702,656 (+142.2%), from €494,100 to €1.2m
- Financial charges +€212,829
up €212,829, from -€33,524 to €179,305
- Other operating charges +€12,269
up €12,269 (+78.7%), from €15,584 to €27,853
- Gross operating margin +€1,350
up €1,350 (+94.1%), from -€1,435 to -€85
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 | €35,248,651 | €45,190,356 | +€9.9m | +28.2% |
| Fixed assets | 21/28 | €11,225,850 | €11,225,850 | = | 0.0% |
| Financial fixed assets | 28 | €11,225,850 | €11,225,850 | = | 0.0% |
| Current assets | 29/58 | €24,022,801 | €33,964,506 | +€9.9m | +41.4% |
| Amounts receivable within one year | 40/41 | €2,500,000 | €11,257,974 | +€8.8m | +350.3% |
| Other amounts receivable | 41 | €2,500,000 | €11,257,974 | +€8.8m | +350.3% |
| Current investments | 50/53 | €18,856,796 | €22,387,666 | +€3.5m | +18.7% |
| Cash at bank and in hand | 54/58 | €2,643,720 | €311,731 | -€2.3m | -88.2% |
| Deferred charges and accrued income | 490/1 | €22,285 | €7,135 | -€15,150 | -68.0% |
| Total equity and liabilities | 10/49 | €35,248,651 | €45,190,356 | +€9.9m | +28.2% |
| Equity | 10/15 | €32,912,069 | €44,265,224 | +€11.4m | +34.5% |
| Contributions | 10/11 | €11,225,850 | €11,225,850 | = | 0.0% |
| Reserves | 13 | €21,033,148 | €32,386,303 | +€11.4m | +54.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €21,033,148 | €32,386,303 | +€11.4m | +54.0% |
| Profit (loss) carried forward | 14 | €653,071 | €653,071 | = | 0.0% |
| Amounts payable | 17/49 | €2,336,582 | €925,132 | -€1.4m | -60.4% |
| Amounts payable within one year | 42/48 | €2,336,582 | €925,132 | -€1.4m | -60.4% |
| Trade debts | 44 | €126 | €144 | +€18 | +14.4% |
| Suppliers | 440/4 | €126 | €144 | +€18 | +14.4% |
| Taxes, remuneration and social security | 45 | €390,133 | €924,988 | +€534,855 | +137.1% |
| Taxes | 450/3 | €390,133 | €924,988 | +€534,855 | +137.1% |
| Other amounts payable | 47/48 | €1,946,323 | €0 | -€1.9m | -100.0% |
| Other operating charges | 640/8 | €15,584 | €27,853 | +€12,269 | +78.7% |
| Gross operating margin | 9900 | -€1,435 | -€85 | +€1,350 | +94.1% |
| Operating profit (loss) | 9901 | -€17,019 | -€27,938 | -€10,919 | -64.2% |
| Financial income | 75/76B | €4,680,744 | €12,757,154 | +€8.1m | +172.5% |
| Recurring financial income | 75 | €4,680,744 | €12,757,154 | +€8.1m | +172.5% |
| Financial charges | 65/66B | -€33,524 | €179,305 | +€212,829 | |
| Recurring financial charges | 65 | -€33,524 | €179,305 | +€212,829 | |
| Profit (loss) for the period before taxes | 9903 | €4,697,249 | €12,549,911 | +€7.9m | +167.2% |
| Income taxes | 67/77 | €494,100 | €1,196,756 | +€702,656 | +142.2% |
| Profit (loss) for the period | 9904 | €4,203,150 | €11,353,155 | +€7.2m | +170.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,203,150 | €11,353,155 | +€7.2m | +170.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.