FREEST2: 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.
FREEST2
Largest movements
- Cash -€20,074
down €20,074 (-24.4%), from €82,147 to €62,072
mainly Contributions, distributions and other (-€47,059) and Debts after one year (-€14,334)
- Intangible fixed assets -€11,591
down €11,591 (-20.3%), from €57,199 to €45,607
- Tangible fixed assets -€8,576
down €8,576 (-13.8%), from €62,113 to €53,537
of which Leasing and similar rights: -€8,000
- Receivables within one year +€6,446
up €6,446 (+1065.0%), from €605 to €7,051
of which Other amounts receivable: +€6,736
- Reserves -€21,366
down €21,366 (-17.0%), from €125,686 to €104,320
- Debts after one year -€14,334
down €14,334 (-81.6%), from €17,558 to €3,225
- Trade debts +€7,823
up €7,823 (+81.8%), from €9,559 to €17,382
- Tax, wage and social debts -€4,354
down €4,354 (-33.8%), from €12,882 to €8,528
of which Taxes: -€3,193
- Gross operating margin -€25,364
down €25,364 (-11.5%), from €221,393 to €196,029
- Staff costs +€16,903
up €16,903 (+14.4%), from €117,080 to €133,983
- Taxes -€8,908
down €8,908 (-52.3%), from €17,037 to €8,129
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 | €212,211 | €180,406 | -€31,804 | -15.0% |
| Fixed assets | 21/28 | €125,512 | €105,345 | -€20,167 | -16.1% |
| Intangible fixed assets | 21 | €57,199 | €45,607 | -€11,591 | -20.3% |
| Tangible fixed assets | 22/27 | €62,113 | €53,537 | -€8,576 | -13.8% |
| Plant, machinery and equipment | 23 | €4,359 | €2,500 | -€1,860 | -42.7% |
| Furniture and vehicles | 24 | - | €1,284 | +€1,284 | |
| Leasing and similar rights | 25 | €57,753 | €49,753 | -€8,000 | -13.9% |
| Financial fixed assets | 28 | €6,200 | €6,200 | = | 0.0% |
| Current assets | 29/58 | €86,699 | €75,062 | -€11,637 | -13.4% |
| Amounts receivable within one year | 40/41 | €605 | €7,051 | +€6,446 | +1065.0% |
| Trade receivables | 40 | €350 | €60 | -€290 | -82.9% |
| Other amounts receivable | 41 | €255 | €6,991 | +€6,736 | +2639.0% |
| Cash at bank and in hand | 54/58 | €82,147 | €62,072 | -€20,074 | -24.4% |
| Deferred charges and accrued income | 490/1 | €3,947 | €5,938 | +€1,991 | +50.4% |
| Total equity and liabilities | 10/49 | €212,211 | €180,406 | -€31,804 | -15.0% |
| Equity | 10/15 | €149,686 | €128,320 | -€21,366 | -14.3% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €125,686 | €104,320 | -€21,366 | -17.0% |
| Distributable reserves | 133 | €125,686 | €104,320 | -€21,366 | -17.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €62,525 | €52,087 | -€10,438 | -16.7% |
| Amounts payable after more than one year | 17 | €17,558 | €3,225 | -€14,334 | -81.6% |
| Financial debts | 170/4 | €17,558 | €3,225 | -€14,334 | -81.6% |
| Amounts payable within one year | 42/48 | €44,967 | €48,862 | +€3,895 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €13,970 | €14,334 | +€364 | +2.6% |
| Trade debts | 44 | €9,559 | €17,382 | +€7,823 | +81.8% |
| Suppliers | 440/4 | €9,559 | €17,382 | +€7,823 | +81.8% |
| Taxes, remuneration and social security | 45 | €12,882 | €8,528 | -€4,354 | -33.8% |
| Taxes | 450/3 | €7,114 | €3,921 | -€3,193 | -44.9% |
| Remuneration and social security | 454/9 | €5,767 | €4,606 | -€1,161 | -20.1% |
| Other amounts payable | 47/48 | €8,556 | €8,619 | +€62 | +0.7% |
| Remuneration, social security and pensions | 62 | €117,080 | €133,983 | +€16,903 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,817 | €21,719 | -€98 | -0.5% |
| Other operating charges | 640/8 | €1,028 | €2,207 | +€1,179 | +114.6% |
| Gross operating margin | 9900 | €221,393 | €196,029 | -€25,364 | -11.5% |
| Operating profit (loss) | 9901 | €81,467 | €38,120 | -€43,348 | -53.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €5,719 | €4,298 | -€1,421 | -24.9% |
| Recurring financial charges | 65 | €5,719 | €4,298 | -€1,421 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €75,748 | €33,822 | -€41,926 | -55.3% |
| Income taxes | 67/77 | €17,037 | €8,129 | -€8,908 | -52.3% |
| Profit (loss) for the period | 9904 | €58,711 | €25,693 | -€33,018 | -56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,711 | €25,693 | -€33,018 | -56.2% |
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 8 October 2026 via checked.be.