FREDOGOLF: 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.
FREDOGOLF
Largest movements
- Tangible fixed assets -€24,933
down €24,933 (-8.4%), from €297,277 to €272,344
of which Land and buildings: -€12,779
- Receivables within one year -€10,404
down €10,404 (-94.7%), from €10,984 to €579
of which Other amounts receivable: -€6,869
- Cash +€9,946
up €9,946 (+126.7%), from €7,847 to €17,793
mainly Depreciation (+€24,933) and Receivables within one year (+€10,404)
- Stocks and contracts +€4,684
up €4,684 (+8.2%), from €56,982 to €61,666
- Debts after one year -€23,449
down €23,449 (-11.1%), from €211,054 to €187,606
- Other debts -€13,674
down €13,674 (-61.7%), from €22,180 to €8,506
- Reserves +€8,000
up €8,000 (+26.7%), from €30,000 to €38,000
- Tax, wage and social debts +€6,169
up €6,169 (+112.3%), from €5,491 to €11,660
- Depreciation +€9,349
up €9,349 (+60.0%), from €15,584 to €24,933
- Gross operating margin -€3,071
down €3,071 (-5.9%), from €51,714 to €48,644
- Financial charges +€551
up €551 (+7.1%), from €7,818 to €8,369
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €376,668 | €356,080 | -€20,588 | -5.5% |
| Fixed assets | 21/28 | €298,793 | €273,863 | -€24,929 | -8.3% |
| Tangible fixed assets | 22/27 | €297,277 | €272,344 | -€24,933 | -8.4% |
| Land and buildings | 22 | €251,730 | €238,951 | -€12,779 | -5.1% |
| Plant, machinery and equipment | 23 | €217 | - | -€217 | |
| Furniture and vehicles | 24 | €45,330 | €33,393 | -€11,938 | -26.3% |
| Financial fixed assets | 28 | €1,515 | €1,520 | +€4 | +0.3% |
| Current assets | 29/58 | €77,875 | €82,217 | +€4,341 | +5.6% |
| Stocks and contracts in progress | 3 | €56,982 | €61,666 | +€4,684 | +8.2% |
| Stocks | 30/36 | €56,982 | €61,666 | +€4,684 | +8.2% |
| Amounts receivable within one year | 40/41 | €10,984 | €579 | -€10,404 | -94.7% |
| Trade receivables | 40 | €4,115 | €579 | -€3,536 | -85.9% |
| Other amounts receivable | 41 | €6,869 | - | -€6,869 | |
| Cash at bank and in hand | 54/58 | €7,847 | €17,793 | +€9,946 | +126.7% |
| Deferred charges and accrued income | 490/1 | €2,063 | €2,179 | +€116 | +5.6% |
| Total equity and liabilities | 10/49 | €376,668 | €356,080 | -€20,588 | -5.5% |
| Equity | 10/15 | €96,700 | €104,999 | +€8,299 | +8.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €38,000 | +€8,000 | +26.7% |
| Distributable reserves | 133 | €30,000 | €38,000 | +€8,000 | +26.7% |
| Profit (loss) carried forward | 14 | €36,700 | €36,999 | +€299 | +0.8% |
| Amounts payable | 17/49 | €279,968 | €251,082 | -€28,887 | -10.3% |
| Amounts payable after more than one year | 17 | €211,054 | €187,606 | -€23,449 | -11.1% |
| Financial debts | 170/4 | €211,054 | €187,606 | -€23,449 | -11.1% |
| Amounts payable within one year | 42/48 | €68,914 | €63,476 | -€5,438 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €22,830 | €23,449 | +€619 | +2.7% |
| Trade debts | 44 | €18,413 | €19,861 | +€1,448 | +7.9% |
| Suppliers | 440/4 | €18,413 | €19,861 | +€1,448 | +7.9% |
| Taxes, remuneration and social security | 45 | €5,491 | €11,660 | +€6,169 | +112.3% |
| Taxes | 450/3 | €5,491 | €11,660 | +€6,169 | +112.3% |
| Other amounts payable | 47/48 | €22,180 | €8,506 | -€13,674 | -61.7% |
| Non-recurring operating income | 76A | €12,372 | - | -€12,372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,584 | €24,933 | +€9,349 | +60.0% |
| Other operating charges | 640/8 | €1,328 | €1,316 | -€13 | -0.9% |
| Gross operating margin | 9900 | €51,714 | €48,644 | -€3,071 | -5.9% |
| Operating profit (loss) | 9901 | €34,802 | €22,394 | -€12,407 | -35.7% |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €7,818 | €8,369 | +€551 | +7.1% |
| Recurring financial charges | 65 | €7,818 | €8,369 | +€551 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €26,984 | €14,058 | -€12,926 | -47.9% |
| Income taxes | 67/77 | €5,491 | €5,759 | +€267 | +4.9% |
| Profit (loss) for the period | 9904 | €21,492 | €8,299 | -€13,194 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,492 | €8,299 | -€13,194 | -61.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.