FREDOTRANS: 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.
FREDOTRANS
Largest movements
- Tangible fixed assets +€806,116
up €806,116 (+17.4%), from €4.6m to €5.4m
of which Land and buildings: +€487,603
- Receivables within one year +€217,131
up €217,131 (+9.2%), from €2.4m to €2.6m
of which Trade receivables: +€272,301
- Deferred charges and accrued income -€180,776
down €180,776 (-89.8%), from €201,345 to €20,569
- Short-term financial debts +€420,838
up €420,838 (+105%), from €400,000 to €820,838
of which Other loans: +€770,838
- Debts after one year +€413,378
up €413,378 (+12.0%), from €3.4m to €3.8m
- Trade debts -€211,179
down €211,179 (-12.1%), from €1.7m to €1.5m
- Current portion of long-term debt +€92,081
up €92,081 (+11.1%), from €827,674 to €919,754
- Reserves +€91,462
up €91,462 (+10.3%), from €889,361 to €980,823
of which Distributable reserves: +€91,462
- Gross operating margin -€66,927
down €66,927 (-2.9%), from €2.3m to €2.2m
- Depreciation -€56,856
down €56,856 (-7.9%), from €723,180 to €666,325
- Financial charges -€49,365
down €49,365 (-25.5%), from €193,323 to €143,958
- Staff costs -€41,608
down €41,608 (-3.7%), from €1.1m to €1.1m
- Other operating charges +€32,528
up €32,528 (+18.0%), from €180,627 to €213,155
From the 31-03-2025 result to the 31-12-2025 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.
Derived cash bridge
Derived from the 31-03-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-03-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,440,703 | €8,328,637 | +€887,934 | +11.9% |
| Fixed assets | 21/28 | €4,637,980 | €5,444,096 | +€806,116 | +17.4% |
| Tangible fixed assets | 22/27 | €4,637,580 | €5,443,696 | +€806,116 | +17.4% |
| Land and buildings | 22 | €1,336,343 | €1,823,946 | +€487,603 | +36.5% |
| Plant, machinery and equipment | 23 | €74,246 | €97,172 | +€22,926 | +30.9% |
| Furniture and vehicles | 24 | €705,234 | €868,525 | +€163,291 | +23.2% |
| Leasing and similar rights | 25 | €2,521,757 | €2,654,052 | +€132,296 | +5.2% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €2,802,724 | €2,884,542 | +€81,818 | +2.9% |
| Amounts receivable after more than one year | 29 | €115,000 | €115,000 | = | 0.0% |
| Other amounts receivable | 291 | €115,000 | €115,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,353,736 | €2,570,867 | +€217,131 | +9.2% |
| Trade receivables | 40 | €2,228,840 | €2,501,141 | +€272,301 | +12.2% |
| Other amounts receivable | 41 | €124,896 | €69,726 | -€55,170 | -44.2% |
| Cash at bank and in hand | 54/58 | €132,643 | €178,106 | +€45,463 | +34.3% |
| Deferred charges and accrued income | 490/1 | €201,345 | €20,569 | -€180,776 | -89.8% |
| Total equity and liabilities | 10/49 | €7,440,703 | €8,328,637 | +€887,934 | +11.9% |
| Equity | 10/15 | €907,953 | €999,415 | +€91,462 | +10.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €889,361 | €980,823 | +€91,462 | +10.3% |
| Tax-exempt reserves | 132 | €302,619 | €302,619 | = | 0.0% |
| Distributable reserves | 133 | €586,742 | €678,204 | +€91,462 | +15.6% |
| Amounts payable | 17/49 | €6,532,750 | €7,329,223 | +€796,473 | +12.2% |
| Amounts payable after more than one year | 17 | €3,435,880 | €3,849,258 | +€413,378 | +12.0% |
| Financial debts | 170/4 | €3,435,880 | €3,849,258 | +€413,378 | +12.0% |
| Amounts payable within one year | 42/48 | €3,096,870 | €3,445,693 | +€348,822 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €827,674 | €919,754 | +€92,081 | +11.1% |
| Financial debts | 43 | €400,000 | €820,838 | +€420,838 | +105% |
| Credit institutions | 430/8 | €400,000 | €50,000 | -€350,000 | -87.5% |
| Other loans | 439 | - | €770,838 | +€770,838 | |
| Trade debts | 44 | €1,741,346 | €1,530,167 | -€211,179 | -12.1% |
| Suppliers | 440/4 | €1,741,346 | €1,530,167 | -€211,179 | -12.1% |
| Taxes, remuneration and social security | 45 | €80,021 | €161,311 | +€81,290 | +102% |
| Taxes | 450/3 | €17,266 | €75,721 | +€58,455 | +339% |
| Remuneration and social security | 454/9 | €62,755 | €85,590 | +€22,834 | +36.4% |
| Other amounts payable | 47/48 | €47,829 | €13,622 | -€34,207 | -71.5% |
| Accrued charges and deferred income | 492/3 | - | €34,272 | +€34,272 | |
| Remuneration, social security and pensions | 62 | €1,115,338 | €1,073,731 | -€41,608 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €723,180 | €666,325 | -€56,856 | -7.9% |
| Other operating charges | 640/8 | €180,627 | €213,155 | +€32,528 | +18.0% |
| Gross operating margin | 9900 | €2,297,564 | €2,230,636 | -€66,927 | -2.9% |
| Operating profit (loss) | 9901 | €278,418 | €277,426 | -€992 | -0.4% |
| Financial income | 75/76B | €7,747 | €7,007 | -€739 | -9.5% |
| Recurring financial income | 75 | €7,747 | €7,007 | -€739 | -9.5% |
| Financial charges | 65/66B | €193,323 | €143,958 | -€49,365 | -25.5% |
| Recurring financial charges | 65 | €193,323 | €143,958 | -€49,365 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €92,842 | €140,475 | +€47,633 | +51.3% |
| Income taxes | 67/77 | €11,981 | €19,014 | +€7,033 | +58.7% |
| Profit (loss) for the period | 9904 | €80,861 | €121,462 | +€40,600 | +50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,861 | €121,462 | +€40,600 | +50.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.