FREEB: 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.
FREEB
Largest movements
- Current investments -€190,574
down €190,574 (-100.0%), from €190,574 to €0
- Cash +€180,655
up €180,655 (+5046.8%), from €3,580 to €184,235
mainly Current investments (+€190,574) and Depreciation (+€12,409)
- Tangible fixed assets -€11,093
down €11,093 (-35.5%), from €31,229 to €20,136
of which Furniture and vehicles: -€9,872
- Receivables within one year +€5,744
up €5,744 (+189.3%), from €3,034 to €8,777
of which Other amounts receivable: +€5,744
- Reserves -€13,105
down €13,105 (-5.1%), from €255,679 to €242,574
- Write-downs +€36,698
new in 2025: €36,698
- Taxes -€9,973
down €9,973 (-85.1%), from €11,713 to €1,740
- Gross operating margin -€2,565
down €2,565 (-4.8%), from €52,951 to €50,386
- Financial income +€1,169
up €1,169 (+64.9%), from €1,800 to €2,969
- Depreciation -€608
down €608 (-4.7%), from €13,017 to €12,409
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 | €286,390 | €270,217 | -€16,173 | -5.6% |
| Fixed assets | 21/28 | €35,369 | €24,276 | -€11,093 | -31.4% |
| Tangible fixed assets | 22/27 | €31,229 | €20,136 | -€11,093 | -35.5% |
| Land and buildings | 22 | €3,855 | €2,385 | -€1,470 | -38.1% |
| Plant, machinery and equipment | 23 | €1,411 | €1,660 | +€249 | +17.6% |
| Furniture and vehicles | 24 | €25,963 | €16,091 | -€9,872 | -38.0% |
| Financial fixed assets | 28 | €4,140 | €4,140 | = | 0.0% |
| Current assets | 29/58 | €251,021 | €245,942 | -€5,080 | -2.0% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,034 | €8,777 | +€5,744 | +189.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,034 | €8,777 | +€5,744 | +189.3% |
| Current investments | 50/53 | €190,574 | €0 | -€190,574 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,580 | €184,235 | +€180,655 | +5046.8% |
| Deferred charges and accrued income | 490/1 | €3,834 | €2,930 | -€904 | -23.6% |
| Total equity and liabilities | 10/49 | €286,390 | €270,217 | -€16,173 | -5.6% |
| Equity | 10/15 | €275,679 | €260,975 | -€14,704 | -5.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €255,679 | €242,574 | -€13,105 | -5.1% |
| Distributable reserves | 133 | €255,679 | €242,574 | -€13,105 | -5.1% |
| Profit (loss) carried forward | 14 | €0 | -€1,599 | -€1,599 | |
| Amounts payable | 17/49 | €10,711 | €9,243 | -€1,468 | -13.7% |
| Amounts payable within one year | 42/48 | €10,495 | €9,243 | -€1,252 | -11.9% |
| Trade debts | 44 | €2,953 | €2,063 | -€890 | -30.1% |
| Suppliers | 440/4 | €2,953 | €2,063 | -€890 | -30.1% |
| Taxes, remuneration and social security | 45 | €93 | €0 | -€93 | -100.0% |
| Taxes | 450/3 | €93 | €0 | -€93 | -100.0% |
| Other amounts payable | 47/48 | €7,450 | €7,180 | -€270 | -3.6% |
| Accrued charges and deferred income | 492/3 | €216 | €0 | -€216 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,017 | €12,409 | -€608 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €36,698 | +€36,698 | |
| Other operating charges | 640/8 | €3,895 | €3,973 | +€78 | +2.0% |
| Gross operating margin | 9900 | €52,951 | €50,386 | -€2,565 | -4.8% |
| Operating profit (loss) | 9901 | €36,039 | -€2,694 | -€38,733 | |
| Financial income | 75/76B | €1,800 | €2,969 | +€1,169 | +64.9% |
| Recurring financial income | 75 | €1,800 | €2,969 | +€1,169 | +64.9% |
| Financial charges | 65/66B | €460 | €134 | -€326 | -70.8% |
| Recurring financial charges | 65 | €460 | €134 | -€326 | -70.8% |
| Profit (loss) for the period before taxes | 9903 | €37,379 | €141 | -€37,238 | -99.6% |
| Income taxes | 67/77 | €11,713 | €1,740 | -€9,973 | -85.1% |
| Profit (loss) for the period | 9904 | €25,666 | -€1,599 | -€27,265 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,666 | -€1,599 | -€27,265 |
Source: filed annual accounts (NBB), fiscal 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.