FREG: 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.
FREG
Largest movements
- Tangible fixed assets -€32,131
down €32,131 (-30.1%), from €106,837 to €74,706
of which Furniture and vehicles: -€31,098
- Intangible fixed assets -€21,411
down €21,411 (-20.0%), from €107,151 to €85,740
- Deferred charges and accrued income +€5,883
up €5,883 (+499%), from €1,178 to €7,061
- Cash +€4,900
up €4,900 (+10.0%), from €48,879 to €53,779
mainly Depreciation (+€53,551) and Net result for the year (+€13,694)
- Other debts -€29,068
down €29,068 (-10.8%), from €269,121 to €240,052
- Reserves +€13,500
new in 2024: €13,500
- Debts after one year -€11,795
down €11,795 (-27.4%), from €43,103 to €31,307
- Tax, wage and social debts -€10,581
down €10,581 (-31.1%), from €34,027 to €23,446
of which Taxes: -€10,229
- Trade debts -€7,775
down €7,775 (-77.2%), from €10,065 to €2,290
- Gross operating margin +€54,239
up €54,239 (+50.8%), from €106,746 to €160,986
- Depreciation +€9,044
up €9,044 (+20.3%), from €44,507 to €53,551
- Staff costs -€4,580
down €4,580 (-4.9%), from €92,524 to €87,945
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €375,945 | €330,833 | -€45,112 | -12.0% |
| Fixed assets | 21/28 | €213,988 | €160,446 | -€53,543 | -25.0% |
| Intangible fixed assets | 21 | €107,151 | €85,740 | -€21,411 | -20.0% |
| Tangible fixed assets | 22/27 | €106,837 | €74,706 | -€32,131 | -30.1% |
| Furniture and vehicles | 24 | €96,886 | €65,788 | -€31,098 | -32.1% |
| Other tangible fixed assets | 26 | €9,951 | €8,917 | -€1,033 | -10.4% |
| Current assets | 29/58 | €161,956 | €170,387 | +€8,431 | +5.2% |
| Stocks and contracts in progress | 3 | €88,180 | €89,505 | +€1,325 | +1.5% |
| Stocks | 30/36 | €88,180 | €89,505 | +€1,325 | +1.5% |
| Amounts receivable within one year | 40/41 | €23,719 | €20,042 | -€3,677 | -15.5% |
| Trade receivables | 40 | €23,533 | €20,042 | -€3,491 | -14.8% |
| Other amounts receivable | 41 | €187 | €0 | -€187 | -100% |
| Cash at bank and in hand | 54/58 | €48,879 | €53,779 | +€4,900 | +10.0% |
| Deferred charges and accrued income | 490/1 | €1,178 | €7,061 | +€5,883 | +499% |
| Total equity and liabilities | 10/49 | €375,945 | €330,833 | -€45,112 | -12.0% |
| Equity | 10/15 | €8,265 | €21,959 | +€13,694 | +166% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €13,500 | +€13,500 | |
| Distributable reserves | 133 | - | €13,500 | +€13,500 | |
| Profit (loss) carried forward | 14 | €3,265 | €3,459 | +€194 | +5.9% |
| Amounts payable | 17/49 | €367,679 | €308,874 | -€58,806 | -16.0% |
| Amounts payable after more than one year | 17 | €43,103 | €31,307 | -€11,795 | -27.4% |
| Financial debts | 170/4 | €43,103 | €31,307 | -€11,795 | -27.4% |
| Amounts payable within one year | 42/48 | €324,577 | €277,567 | -€47,010 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €11,364 | €11,778 | +€414 | +3.6% |
| Trade debts | 44 | €10,065 | €2,290 | -€7,775 | -77.2% |
| Suppliers | 440/4 | €10,065 | €2,290 | -€7,775 | -77.2% |
| Taxes, remuneration and social security | 45 | €34,027 | €23,446 | -€10,581 | -31.1% |
| Taxes | 450/3 | €20,243 | €10,014 | -€10,229 | -50.5% |
| Remuneration and social security | 454/9 | €13,784 | €13,432 | -€351 | -2.5% |
| Other amounts payable | 47/48 | €269,121 | €240,052 | -€29,068 | -10.8% |
| Remuneration, social security and pensions | 62 | €92,524 | €87,945 | -€4,580 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,507 | €53,551 | +€9,044 | +20.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €207 | €0 | -€207 | -100% |
| Other operating charges | 640/8 | €1,201 | €2,131 | +€930 | +77.5% |
| Non-recurring operating charges | 66A | €5 | €0 | -€5 | -100% |
| Gross operating margin | 9900 | €106,746 | €160,986 | +€54,239 | +50.8% |
| Operating profit (loss) | 9901 | -€31,698 | €17,358 | +€49,056 | |
| Financial charges | 65/66B | €1,232 | €1,945 | +€713 | +57.9% |
| Recurring financial charges | 65 | €1,232 | €1,945 | +€713 | +57.9% |
| Profit (loss) for the period before taxes | 9903 | -€32,930 | €15,414 | +€48,343 | |
| Income taxes | 67/77 | €197 | €1,720 | +€1,523 | +771% |
| Profit (loss) for the period | 9904 | -€33,127 | €13,694 | +€46,821 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,127 | €13,694 | +€46,821 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.