FREEHOLD: 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.
FREEHOLD
Largest movements
- Tangible fixed assets -€289,808
down €289,808 (-9.7%), from €3.0m to €2.7m
of which Land and buildings: -€732,558
- Cash +€114,741
up €114,741 (+1232.9%), from €9,307 to €124,048
mainly Investment in fixed assets (net) (+€163,049) and Depreciation (+€126,759)
- Receivables within one year +€35,876
up €35,876 (+4543.2%), from €790 to €36,665
of which Trade receivables: +€35,654
- Other debts -€207,947
down €207,947 (-28.6%), from €728,277 to €520,330
- Profit (loss) carried forward +€117,725
up €117,725 (+46.0%), from €255,934 to €373,659
- Reserves -€65,310
down €65,310 (-4.7%), from €1.4m to €1.3m
- Trade debts +€34,880
up €34,880, from €0 to €34,880
- Gross operating margin +€202,353
up €202,353, from -€1,143 to €201,210
- Financial charges +€36,597
up €36,597 (+7051.2%), from €519 to €37,116
- Depreciation -€23,174
down €23,174 (-15.5%), from €149,933 to €126,759
- Other operating charges -€11,406
down €11,406 (-53.1%), from €21,466 to €10,059
- Financial income +€3,370
up €3,370, from €0 to €3,370
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 | €3,054,414 | €2,913,984 | -€140,431 | -4.6% |
| Fixed assets | 21/28 | €3,041,830 | €2,752,022 | -€289,808 | -9.5% |
| Tangible fixed assets | 22/27 | €2,989,153 | €2,699,344 | -€289,808 | -9.7% |
| Land and buildings | 22 | €2,988,030 | €2,255,472 | -€732,558 | -24.5% |
| Plant, machinery and equipment | 23 | - | €443,872 | +€443,872 | |
| Furniture and vehicles | 24 | €1,122 | €0 | -€1,122 | -100.0% |
| Financial fixed assets | 28 | €52,677 | €52,677 | = | 0.0% |
| Current assets | 29/58 | €12,584 | €161,962 | +€149,378 | +1187.0% |
| Amounts receivable within one year | 40/41 | €790 | €36,665 | +€35,876 | +4543.2% |
| Trade receivables | 40 | €0 | €35,654 | +€35,654 | |
| Other amounts receivable | 41 | €790 | €1,011 | +€221 | +28.0% |
| Cash at bank and in hand | 54/58 | €9,307 | €124,048 | +€114,741 | +1232.9% |
| Deferred charges and accrued income | 490/1 | €2,488 | €1,249 | -€1,239 | -49.8% |
| Total equity and liabilities | 10/49 | €3,054,414 | €2,913,984 | -€140,431 | -4.6% |
| Equity | 10/15 | €1,855,499 | €1,907,914 | +€52,415 | +2.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,399,565 | €1,334,255 | -€65,310 | -4.7% |
| Tax-exempt reserves | 132 | €1,399,565 | €1,334,255 | -€65,310 | -4.7% |
| Profit (loss) carried forward | 14 | €255,934 | €373,659 | +€117,725 | +46.0% |
| Provisions and deferred taxes | 16 | €466,522 | €444,752 | -€21,770 | -4.7% |
| Deferred taxes | 168 | €466,522 | €444,752 | -€21,770 | -4.7% |
| Amounts payable | 17/49 | €732,394 | €561,318 | -€171,076 | -23.4% |
| Amounts payable after more than one year | 17 | €4,050 | €4,050 | = | 0.0% |
| Other amounts payable | 178/9 | €4,050 | €4,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €728,277 | €557,268 | -€171,009 | -23.5% |
| Trade debts | 44 | €0 | €34,880 | +€34,880 | |
| Suppliers | 440/4 | €0 | €34,880 | +€34,880 | |
| Taxes, remuneration and social security | 45 | - | €2,058 | +€2,058 | |
| Taxes | 450/3 | - | €2,058 | +€2,058 | |
| Other amounts payable | 47/48 | €728,277 | €520,330 | -€207,947 | -28.6% |
| Accrued charges and deferred income | 492/3 | €67 | €0 | -€67 | -100.0% |
| Non-recurring operating income | 76A | - | €201,134 | +€201,134 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,933 | €126,759 | -€23,174 | -15.5% |
| Other operating charges | 640/8 | €21,466 | €10,059 | -€11,406 | -53.1% |
| Gross operating margin | 9900 | -€1,143 | €201,210 | +€202,353 | |
| Operating profit (loss) | 9901 | -€172,542 | €64,391 | +€236,933 | |
| Financial income | 75/76B | €0 | €3,370 | +€3,370 | |
| Recurring financial income | 75 | €0 | €3,370 | +€3,370 | |
| Financial charges | 65/66B | €519 | €37,116 | +€36,597 | +7051.2% |
| Recurring financial charges | 65 | €519 | €37,116 | +€36,597 | +7051.2% |
| Profit (loss) for the period before taxes | 9903 | -€173,061 | €30,645 | +€203,706 | |
| Transfer from deferred taxes | 780 | €15,041 | €21,770 | +€6,729 | +44.7% |
| Profit (loss) for the period | 9904 | -€158,020 | €52,415 | +€210,434 | |
| Transfer from tax-exempt reserves | 789 | €45,123 | €65,310 | +€20,187 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€112,896 | €117,725 | +€230,621 |
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 7 October 2026 via checked.be.