FREDPHOTOS: 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.
FREDPHOTOS
Largest movements
- Tangible fixed assets +€73,675
up €73,675 (+51.1%), from €144,117 to €217,793
of which Furniture and vehicles: +€82,101
- Cash +€16,454
up €16,454 (+25.2%), from €65,235 to €81,689
mainly Net result for the year (+€98,070) and Other debts (+€59,040)
- Receivables within one year -€8,878
down €8,878 (-18.8%), from €47,277 to €38,398
- Deferred charges and accrued income +€6,395
new in 2025: €6,395
- Stocks and contracts +€5,007
up €5,007 (+33.8%), from €14,832 to €19,839
- Other debts +€59,040
up €59,040 (+101%), from €58,179 to €117,219
- Tax, wage and social debts +€26,685
up €26,685 (+73.7%), from €36,196 to €62,881
of which Taxes: +€27,264
- Debts after one year +€17,972
up €17,972 (+24.8%), from €72,325 to €90,297
- Trade debts -€8,646
down €8,646 (-78.6%), from €10,996 to €2,350
- Gross operating margin +€92,732
up €92,732 (+84.5%), from €109,713 to €202,445
- Taxes +€12,718
up €12,718 (+155%), from €8,226 to €20,943
- Depreciation -€4,033
down €4,033 (-9.2%), from €43,869 to €39,836
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.
Derived cash bridge
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 | €271,621 | €364,274 | +€92,653 | +34.1% |
| Fixed assets | 21/28 | €144,277 | €217,953 | +€73,675 | +51.1% |
| Tangible fixed assets | 22/27 | €144,117 | €217,793 | +€73,675 | +51.1% |
| Plant, machinery and equipment | 23 | €4,858 | €2,357 | -€2,501 | -51.5% |
| Furniture and vehicles | 24 | €97,276 | €179,377 | +€82,101 | +84.4% |
| Other tangible fixed assets | 26 | €41,984 | €36,058 | -€5,925 | -14.1% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €127,344 | €146,322 | +€18,978 | +14.9% |
| Stocks and contracts in progress | 3 | €14,832 | €19,839 | +€5,007 | +33.8% |
| Stocks | 30/36 | €14,832 | €19,839 | +€5,007 | +33.8% |
| Amounts receivable within one year | 40/41 | €47,277 | €38,398 | -€8,878 | -18.8% |
| Trade receivables | 40 | €47,277 | €38,398 | -€8,878 | -18.8% |
| Cash at bank and in hand | 54/58 | €65,235 | €81,689 | +€16,454 | +25.2% |
| Deferred charges and accrued income | 490/1 | - | €6,395 | +€6,395 | |
| Total equity and liabilities | 10/49 | €271,621 | €364,274 | +€92,653 | +34.1% |
| Equity | 10/15 | €58,368 | €58,368 | = | 0.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €37,908 | €37,908 | = | 0.0% |
| Distributable reserves | 133 | €37,908 | €37,908 | = | 0.0% |
| Amounts payable | 17/49 | €213,253 | €305,906 | +€92,653 | +43.4% |
| Amounts payable after more than one year | 17 | €72,325 | €90,297 | +€17,972 | +24.8% |
| Financial debts | 170/4 | €72,325 | €90,297 | +€17,972 | +24.8% |
| Amounts payable within one year | 42/48 | €140,928 | €215,609 | +€74,681 | +53.0% |
| Current portion of amounts payable after more than one year | 42 | €35,558 | €33,160 | -€2,398 | -6.7% |
| Trade debts | 44 | €10,996 | €2,350 | -€8,646 | -78.6% |
| Suppliers | 440/4 | €10,996 | €2,350 | -€8,646 | -78.6% |
| Taxes, remuneration and social security | 45 | €36,196 | €62,881 | +€26,685 | +73.7% |
| Taxes | 450/3 | €32,651 | €59,914 | +€27,264 | +83.5% |
| Remuneration and social security | 454/9 | €3,545 | €2,966 | -€579 | -16.3% |
| Other amounts payable | 47/48 | €58,179 | €117,219 | +€59,040 | +101% |
| Non-recurring operating income | 76A | €2,555 | €53,791 | +€51,236 | +2,005% |
| Remuneration, social security and pensions | 62 | €39,206 | €37,580 | -€1,626 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,869 | €39,836 | -€4,033 | -9.2% |
| Other operating charges | 640/8 | €2,900 | €2,204 | -€696 | -24.0% |
| Non-recurring operating charges | 66A | €0 | €2 | +€2 | +23,000% |
| Gross operating margin | 9900 | €109,713 | €202,445 | +€92,732 | +84.5% |
| Operating profit (loss) | 9901 | €23,738 | €122,824 | +€99,085 | +417% |
| Financial charges | 65/66B | €2,870 | €3,810 | +€940 | +32.7% |
| Recurring financial charges | 65 | €2,870 | €3,810 | +€940 | +32.7% |
| Profit (loss) for the period before taxes | 9903 | €20,868 | €119,013 | +€98,145 | +470% |
| Income taxes | 67/77 | €8,226 | €20,943 | +€12,718 | +155% |
| Profit (loss) for the period | 9904 | €12,642 | €98,070 | +€85,428 | +676% |
| Profit (loss) for the period to be appropriated | 9905 | €12,642 | €98,070 | +€85,428 | +676% |
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 28 October 2026 via checked.be.