FREGU: 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.
FREGU
Largest movements
- Cash +€130,911
up €130,911 (+337.8%), from €38,758 to €169,669
mainly Net result for the year (+€98,577) and Depreciation (+€74,899)
- Tangible fixed assets -€74,899
down €74,899 (-3.9%), from €1.9m to €1.9m
of which Other tangible fixed assets: -€74,899
- Reserves +€98,577
up €98,577 (+15.5%), from €635,775 to €734,352
- Debts after one year -€44,544
down €44,544 (-9.7%), from €461,211 to €416,667
- Gross operating margin +€49,414
up €49,414 (+20.7%), from €238,643 to €288,058
- Depreciation -€34,296
down €34,296 (-31.4%), from €109,195 to €74,899
- Taxes +€23,830
up €23,830 (+107.5%), from €22,172 to €46,003
- Other operating charges +€6,548
up €6,548 (+33.6%), from €19,463 to €26,011
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 | €1,988,072 | €2,039,166 | +€51,094 | +2.6% |
| Fixed assets | 21/28 | €1,932,800 | €1,857,901 | -€74,899 | -3.9% |
| Tangible fixed assets | 22/27 | €1,932,800 | €1,857,901 | -€74,899 | -3.9% |
| Land and buildings | 22 | €696,533 | €696,533 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,236,267 | €1,161,368 | -€74,899 | -6.1% |
| Current assets | 29/58 | €55,272 | €181,265 | +€125,993 | +228.0% |
| Amounts receivable within one year | 40/41 | €10,248 | €5,216 | -€5,031 | -49.1% |
| Trade receivables | 40 | €2,420 | €5,216 | +€2,796 | +115.5% |
| Other amounts receivable | 41 | €7,828 | - | -€7,828 | |
| Cash at bank and in hand | 54/58 | €38,758 | €169,669 | +€130,911 | +337.8% |
| Deferred charges and accrued income | 490/1 | €6,267 | €6,380 | +€113 | +1.8% |
| Total equity and liabilities | 10/49 | €1,988,072 | €2,039,166 | +€51,094 | +2.6% |
| Equity | 10/15 | €721,017 | €819,594 | +€98,577 | +13.7% |
| Contributions | 10/11 | €85,243 | €85,243 | = | 0.0% |
| Reserves | 13 | €635,775 | €734,352 | +€98,577 | +15.5% |
| Distributable reserves | 133 | €635,775 | €734,352 | +€98,577 | +15.5% |
| Amounts payable | 17/49 | €1,267,055 | €1,219,572 | -€47,483 | -3.7% |
| Amounts payable after more than one year | 17 | €461,211 | €416,667 | -€44,544 | -9.7% |
| Financial debts | 170/4 | €461,211 | €416,667 | -€44,544 | -9.7% |
| Amounts payable within one year | 42/48 | €776,200 | €763,051 | -€13,149 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €56,752 | €44,544 | -€12,208 | -21.5% |
| Trade debts | 44 | €5,896 | €978 | -€4,918 | -83.4% |
| Suppliers | 440/4 | €5,896 | €978 | -€4,918 | -83.4% |
| Taxes, remuneration and social security | 45 | €2,924 | €19,381 | +€16,457 | +562.9% |
| Taxes | 450/3 | €2,924 | €19,381 | +€16,457 | +562.9% |
| Other amounts payable | 47/48 | €710,629 | €698,148 | -€12,480 | -1.8% |
| Accrued charges and deferred income | 492/3 | €29,644 | €39,853 | +€10,210 | +34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,195 | €74,899 | -€34,296 | -31.4% |
| Other operating charges | 640/8 | €19,463 | €26,011 | +€6,548 | +33.6% |
| Gross operating margin | 9900 | €238,643 | €288,058 | +€49,414 | +20.7% |
| Operating profit (loss) | 9901 | €109,985 | €187,147 | +€77,162 | +70.2% |
| Financial charges | 65/66B | €40,300 | €42,568 | +€2,267 | +5.6% |
| Recurring financial charges | 65 | €40,300 | €42,568 | +€2,267 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €69,685 | €144,580 | +€74,895 | +107.5% |
| Income taxes | 67/77 | €22,172 | €46,003 | +€23,830 | +107.5% |
| Profit (loss) for the period | 9904 | €47,512 | €98,577 | +€51,065 | +107.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,512 | €98,577 | +€51,065 | +107.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.