FREGEFIN: 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.
FREGEFIN
Largest movements
- Tangible fixed assets +€65,392
up €65,392 (+1033.2%), from €6,329 to €71,721
of which Furniture and vehicles: +€65,592
- Cash -€13,573
down €13,573 (-36.2%), from €37,480 to €23,908
mainly Investment in fixed assets (net) (-€67,451) and Other debts (-€31,403)
- Receivables within one year -€5,673
down €5,673 (-26.9%), from €21,109 to €15,437
of which Trade receivables: -€3,918
- Current investments +€1,642
up €1,642 (+18.9%), from €8,666 to €10,308
- Debts after one year +€40,649
new in 2025: €40,649
- Profit (loss) carried forward +€38,636
up €38,636 (+302.9%), from €12,757 to €51,393
- Other debts -€31,403
down €31,403 (-79.3%), from €39,592 to €8,189
- Current portion of long-term debt +€9,351
new in 2025: €9,351
- Tax, wage and social debts -€8,755
down €8,755 (-77.3%), from €11,327 to €2,573
- Turnover -€146,794
no longer reported in 2025 (was €146,794)
- Purchases and services -€100,728
no longer reported in 2025 (was €100,728)
- Gross operating margin +€9,054
up €9,054 (+19.7%), from €46,066 to €55,120
- Taxes +€1,706
up €1,706 (+18.6%), from €9,160 to €10,866
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 | €73,585 | €122,158 | +€48,573 | +66.0% |
| Fixed assets | 21/28 | €6,329 | €71,721 | +€65,392 | +1033.2% |
| Tangible fixed assets | 22/27 | €6,329 | €71,721 | +€65,392 | +1033.2% |
| Plant, machinery and equipment | 23 | €307 | €107 | -€200 | -65.2% |
| Furniture and vehicles | 24 | €6,022 | €71,614 | +€65,592 | +1089.1% |
| Current assets | 29/58 | €67,256 | €50,437 | -€16,819 | -25.0% |
| Amounts receivable within one year | 40/41 | €21,109 | €15,437 | -€5,673 | -26.9% |
| Trade receivables | 40 | €18,269 | €14,351 | -€3,918 | -21.4% |
| Other amounts receivable | 41 | €2,840 | €1,085 | -€1,755 | -61.8% |
| Current investments | 50/53 | €8,666 | €10,308 | +€1,642 | +18.9% |
| Cash at bank and in hand | 54/58 | €37,480 | €23,908 | -€13,573 | -36.2% |
| Deferred charges and accrued income | 490/1 | - | €784 | +€784 | |
| Total equity and liabilities | 10/49 | €73,585 | €122,158 | +€48,573 | +66.0% |
| Equity | 10/15 | €20,757 | €59,393 | +€38,636 | +186.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Capital | 10 | €8,000 | - | -€8,000 | |
| Issued capital | 100 | €8,000 | - | -€8,000 | |
| Profit (loss) carried forward | 14 | €12,757 | €51,393 | +€38,636 | +302.9% |
| Amounts payable | 17/49 | €52,829 | €62,766 | +€9,937 | +18.8% |
| Amounts payable after more than one year | 17 | - | €40,649 | +€40,649 | |
| Financial debts | 170/4 | - | €40,649 | +€40,649 | |
| Amounts payable within one year | 42/48 | €52,829 | €22,117 | -€30,712 | -58.1% |
| Current portion of amounts payable after more than one year | 42 | - | €9,351 | +€9,351 | |
| Trade debts | 44 | €1,910 | €2,004 | +€94 | +4.9% |
| Suppliers | 440/4 | €1,910 | €2,004 | +€94 | +4.9% |
| Taxes, remuneration and social security | 45 | €11,327 | €2,573 | -€8,755 | -77.3% |
| Taxes | 450/3 | €11,327 | €2,573 | -€8,755 | -77.3% |
| Other amounts payable | 47/48 | €39,592 | €8,189 | -€31,403 | -79.3% |
| Turnover | 70 | €146,794 | - | -€146,794 | |
| Goods, raw materials, services and sundry goods | 60/61 | €100,728 | - | -€100,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,171 | €2,059 | -€112 | -5.2% |
| Other operating charges | 640/8 | €644 | €665 | +€21 | +3.3% |
| Non-recurring operating charges | 66A | - | €1,783 | +€1,783 | |
| Gross operating margin | 9900 | €46,066 | €55,120 | +€9,054 | +19.7% |
| Operating profit (loss) | 9901 | €43,251 | €50,613 | +€7,362 | +17.0% |
| Financial income | 75/76B | €66 | €0 | -€66 | -100.0% |
| Recurring financial income | 75 | €66 | €0 | -€66 | -100.0% |
| Financial charges | 65/66B | €681 | €1,111 | +€430 | +63.1% |
| Recurring financial charges | 65 | €681 | €1,111 | +€430 | +63.1% |
| Profit (loss) for the period before taxes | 9903 | €42,636 | €49,502 | +€6,866 | +16.1% |
| Income taxes | 67/77 | €9,160 | €10,866 | +€1,706 | +18.6% |
| Profit (loss) for the period | 9904 | €33,476 | €38,636 | +€5,160 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,476 | €38,636 | +€5,160 | +15.4% |
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 5 October 2026 via checked.be.