FREEWAYS: what changed
FREEWAYS
Largest movements
- Receivables within one year -€45,873
down €45,873 (-46.4%), from €98,800 to €52,928
of which Other amounts receivable: -€28,521
- Cash +€6,503
up €6,503 (+207%), from €3,144 to €9,648
mainly Receivables within one year (+€45,873) and Depreciation (+€34,234)
- Tangible fixed assets -€6,152
down €6,152 (-3.4%), from €179,032 to €172,880
of which Plant, machinery and equipment: -€9,860
- Debts after one year -€31,398
down €31,398 (-19.9%), from €157,714 to €126,315
- Other debts -€26,515
no longer reported in 2025 (was €26,515)
- Current portion of long-term debt +€21,578
up €21,578 (+61.2%), from €35,245 to €56,823
- Tax, wage and social debts -€10,462
down €10,462 (-73.6%), from €14,207 to €3,744
of which Taxes: -€9,591
- Gross operating margin -€42,438
down €42,438 (-32.5%), from €130,602 to €88,164
- Staff costs -€10,973
down €10,973 (-55.9%), from €19,645 to €8,672
- Other operating charges +€1,321
up €1,321 (+54.3%), from €2,432 to €3,753
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €281,227 | €237,795 | -€43,431 | -15.4% |
| Fixed assets | 21/28 | €179,282 | €173,130 | -€6,152 | -3.4% |
| Tangible fixed assets | 22/27 | €179,032 | €172,880 | -€6,152 | -3.4% |
| Land and buildings | 22 | €99,933 | €91,204 | -€8,730 | -8.7% |
| Plant, machinery and equipment | 23 | €31,365 | €21,505 | -€9,860 | -31.4% |
| Furniture and vehicles | 24 | €47,734 | €60,172 | +€12,438 | +26.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €101,945 | €64,665 | -€37,279 | -36.6% |
| Amounts receivable within one year | 40/41 | €98,800 | €52,928 | -€45,873 | -46.4% |
| Trade receivables | 40 | €50,199 | €32,848 | -€17,351 | -34.6% |
| Other amounts receivable | 41 | €48,601 | €20,080 | -€28,521 | -58.7% |
| Cash at bank and in hand | 54/58 | €3,144 | €9,648 | +€6,503 | +207% |
| Deferred charges and accrued income | 490/1 | - | €2,090 | +€2,090 | |
| Total equity and liabilities | 10/49 | €281,227 | €237,795 | -€43,431 | -15.4% |
| Equity | 10/15 | €44,497 | €43,856 | -€641 | -1.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,097 | €31,456 | -€641 | -2.0% |
| Amounts payable | 17/49 | €236,730 | €193,940 | -€42,790 | -18.1% |
| Amounts payable after more than one year | 17 | €157,714 | €126,315 | -€31,398 | -19.9% |
| Financial debts | 170/4 | €157,714 | €126,315 | -€31,398 | -19.9% |
| Amounts payable within one year | 42/48 | €79,017 | €65,804 | -€13,212 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €35,245 | €56,823 | +€21,578 | +61.2% |
| Trade debts | 44 | €3,049 | €3,987 | +€938 | +30.8% |
| Suppliers | 440/4 | €3,049 | €3,987 | +€938 | +30.8% |
| Advances received on contracts in progress | 46 | - | €1,250 | +€1,250 | |
| Taxes, remuneration and social security | 45 | €14,207 | €3,744 | -€10,462 | -73.6% |
| Taxes | 450/3 | €10,332 | €741 | -€9,591 | -92.8% |
| Remuneration and social security | 454/9 | €3,875 | €3,003 | -€872 | -22.5% |
| Other amounts payable | 47/48 | €26,515 | - | -€26,515 | |
| Accrued charges and deferred income | 492/3 | - | €1,820 | +€1,820 | |
| Remuneration, social security and pensions | 62 | €19,645 | €8,672 | -€10,973 | -55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,989 | €34,234 | +€245 | +0.7% |
| Other operating charges | 640/8 | €2,432 | €3,753 | +€1,321 | +54.3% |
| Gross operating margin | 9900 | €130,602 | €88,164 | -€42,438 | -32.5% |
| Operating profit (loss) | 9901 | €74,536 | €41,505 | -€33,031 | -44.3% |
| Financial income | 75/76B | €18 | €91 | +€72 | +391% |
| Recurring financial income | 75 | €18 | €91 | +€72 | +391% |
| Financial charges | 65/66B | €7,463 | €6,756 | -€707 | -9.5% |
| Recurring financial charges | 65 | €7,463 | €6,756 | -€707 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €67,092 | €34,840 | -€32,252 | -48.1% |
| Income taxes | 67/77 | €11,335 | €10,481 | -€854 | -7.5% |
| Profit (loss) for the period | 9904 | €55,757 | €24,359 | -€31,398 | -56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,757 | €24,359 | -€31,398 | -56.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.