FREE AM: 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.
FREE AM
Largest movements
- Cash +€96,194
up €96,194 (+141%), from €68,311 to €164,504
mainly Net result for the year (+€73,064) and Receivables after one year (+€8,297)
- Receivables after one year -€8,297
down €8,297 (-46.8%), from €17,715 to €9,419
- Receivables within one year -€7,740
down €7,740 (-7.0%), from €110,627 to €102,887
- Reserves +€73,064
up €73,064 (+52.1%), from €140,259 to €213,323
- Other debts +€8,008
up €8,008 (+131%), from €6,100 to €14,108
- Gross operating margin -€17,062
down €17,062 (-14.8%), from €115,091 to €98,030
- Taxes -€4,346
down €4,346 (-15.0%), from €29,061 to €24,715
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 | €198,485 | €279,547 | +€81,062 | +40.8% |
| Fixed assets | 21/28 | €1,832 | €2,481 | +€649 | +35.4% |
| Tangible fixed assets | 22/27 | €1,832 | €2,481 | +€649 | +35.4% |
| Plant, machinery and equipment | 23 | €1,560 | €1,190 | -€370 | -23.7% |
| Furniture and vehicles | 24 | €272 | €1,291 | +€1,018 | +374% |
| Current assets | 29/58 | €196,653 | €277,066 | +€80,413 | +40.9% |
| Amounts receivable after more than one year | 29 | €17,715 | €9,419 | -€8,297 | -46.8% |
| Other amounts receivable | 291 | €17,715 | €9,419 | -€8,297 | -46.8% |
| Amounts receivable within one year | 40/41 | €110,627 | €102,887 | -€7,740 | -7.0% |
| Trade receivables | 40 | €110,627 | €102,887 | -€7,740 | -7.0% |
| Cash at bank and in hand | 54/58 | €68,311 | €164,504 | +€96,194 | +141% |
| Deferred charges and accrued income | 490/1 | - | €256 | +€256 | |
| Total equity and liabilities | 10/49 | €198,485 | €279,547 | +€81,062 | +40.8% |
| Equity | 10/15 | €144,259 | €217,323 | +€73,064 | +50.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €140,259 | €213,323 | +€73,064 | +52.1% |
| Distributable reserves | 133 | €140,259 | €213,323 | +€73,064 | +52.1% |
| Amounts payable | 17/49 | €54,226 | €62,224 | +€7,997 | +14.7% |
| Amounts payable within one year | 42/48 | €54,226 | €62,224 | +€7,997 | +14.7% |
| Trade debts | 44 | €827 | €1,392 | +€565 | +68.3% |
| Suppliers | 440/4 | €827 | €1,392 | +€565 | +68.3% |
| Taxes, remuneration and social security | 45 | €47,299 | €46,724 | -€575 | -1.2% |
| Taxes | 450/3 | €47,299 | €46,724 | -€575 | -1.2% |
| Other amounts payable | 47/48 | €6,100 | €14,108 | +€8,008 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €460 | €598 | +€138 | +30.1% |
| Other operating charges | 640/8 | €100 | €144 | +€44 | +44.1% |
| Gross operating margin | 9900 | €115,091 | €98,030 | -€17,062 | -14.8% |
| Operating profit (loss) | 9901 | €114,531 | €97,287 | -€17,244 | -15.1% |
| Financial income | 75/76B | €896 | €628 | -€267 | -29.9% |
| Recurring financial income | 75 | €896 | €628 | -€267 | -29.9% |
| Financial charges | 65/66B | €263 | €136 | -€127 | -48.2% |
| Recurring financial charges | 65 | €263 | €136 | -€127 | -48.2% |
| Profit (loss) for the period before taxes | 9903 | €115,164 | €97,779 | -€17,385 | -15.1% |
| Income taxes | 67/77 | €29,061 | €24,715 | -€4,346 | -15.0% |
| Profit (loss) for the period | 9904 | €86,103 | €73,064 | -€13,039 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €86,103 | €73,064 | -€13,039 | -15.1% |
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 23 October 2026 via checked.be.