FREDOL: 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.
FREDOL
Largest movements
- Tangible fixed assets -€21,399
down €21,399 (-18.7%), from €114,737 to €93,339
of which Furniture and vehicles: -€18,738
- Receivables within one year -€15,177
down €15,177 (-11.9%), from €127,765 to €112,588
of which Trade receivables: -€24,108
- Cash +€10,950
up €10,950 (+42.2%), from €25,949 to €36,899
mainly Depreciation (+€28,379) and Net result for the year (+€22,517)
- Deferred charges and accrued income -€3,330
down €3,330 (-48.1%), from €6,918 to €3,588
- Reserves -€28,256
down €28,256 (-11.3%), from €250,798 to €222,542
- Tax, wage and social debts -€3,256
down €3,256 (-26.2%), from €12,451 to €9,195
- Short-term financial debts +€3,019
up €3,019 (+173.8%), from €1,737 to €4,755
- Gross operating margin +€8,026
up €8,026 (+14.9%), from €53,689 to €61,715
- Depreciation +€2,306
up €2,306 (+8.8%), from €26,074 to €28,379
- Taxes +€2,001
up €2,001 (+20.9%), from €9,585 to €11,586
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 | €275,369 | €246,414 | -€28,956 | -10.5% |
| Fixed assets | 21/28 | €114,737 | €93,339 | -€21,399 | -18.7% |
| Tangible fixed assets | 22/27 | €114,737 | €93,339 | -€21,399 | -18.7% |
| Plant, machinery and equipment | 23 | €8,335 | €6,595 | -€1,740 | -20.9% |
| Furniture and vehicles | 24 | €98,738 | €80,000 | -€18,738 | -19.0% |
| Other tangible fixed assets | 26 | €7,664 | €6,744 | -€920 | -12.0% |
| Current assets | 29/58 | €160,632 | €153,075 | -€7,557 | -4.7% |
| Amounts receivable within one year | 40/41 | €127,765 | €112,588 | -€15,177 | -11.9% |
| Trade receivables | 40 | €84,902 | €60,794 | -€24,108 | -28.4% |
| Other amounts receivable | 41 | €42,863 | €51,794 | +€8,932 | +20.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €25,949 | €36,899 | +€10,950 | +42.2% |
| Deferred charges and accrued income | 490/1 | €6,918 | €3,588 | -€3,330 | -48.1% |
| Total equity and liabilities | 10/49 | €275,369 | €246,414 | -€28,956 | -10.5% |
| Equity | 10/15 | €256,998 | €228,742 | -€28,256 | -11.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €250,798 | €222,542 | -€28,256 | -11.3% |
| Distributable reserves | 133 | €250,798 | €222,542 | -€28,256 | -11.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,371 | €17,672 | -€699 | -3.8% |
| Amounts payable within one year | 42/48 | €18,371 | €17,672 | -€699 | -3.8% |
| Financial debts | 43 | €1,737 | €4,755 | +€3,019 | +173.8% |
| Credit institutions | 430/8 | €1,737 | €4,755 | +€3,019 | +173.8% |
| Trade debts | 44 | €4,184 | €3,722 | -€462 | -11.0% |
| Suppliers | 440/4 | €4,184 | €3,722 | -€462 | -11.0% |
| Taxes, remuneration and social security | 45 | €12,451 | €9,195 | -€3,256 | -26.2% |
| Taxes | 450/3 | €12,451 | €9,195 | -€3,256 | -26.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €15,656 | +€15,656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,074 | €28,379 | +€2,306 | +8.8% |
| Other operating charges | 640/8 | €1,305 | €1,019 | -€286 | -21.9% |
| Gross operating margin | 9900 | €53,689 | €61,715 | +€8,026 | +14.9% |
| Operating profit (loss) | 9901 | €26,310 | €32,317 | +€6,006 | +22.8% |
| Financial income | 75/76B | €1,919 | €2,411 | +€492 | +25.7% |
| Recurring financial income | 75 | €1,919 | €2,411 | +€492 | +25.7% |
| Financial charges | 65/66B | €871 | €624 | -€247 | -28.3% |
| Recurring financial charges | 65 | €871 | €624 | -€247 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €27,358 | €34,103 | +€6,746 | +24.7% |
| Income taxes | 67/77 | €9,585 | €11,586 | +€2,001 | +20.9% |
| Profit (loss) for the period | 9904 | €17,773 | €22,517 | +€4,744 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,773 | €22,517 | +€4,744 | +26.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.