FREHO CONSULTING: 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.
FREHO CONSULTING
Largest movements
- Financial fixed assets -€422,875
down €422,875 (-32.0%), from €1.3m to €897,500
- Receivables within one year +€18,713
up €18,713 (+6.2%), from €303,125 to €321,837
of which Other amounts receivable: +€25,000
- Debts after one year -€337,063
down €337,063 (-73.7%), from €457,063 to €120,000
- Other debts -€39,886
down €39,886 (-39.0%), from €102,284 to €62,397
- Current portion of long-term debt -€22,942
down €22,942 (-100%), from €22,942 to €0
- Profit (loss) carried forward -€17,080
down €17,080 (-2.3%), from €733,153 to €716,073
- Staff costs +€21,015
new in 2026: €21,015
- Gross operating margin -€18,219
down €18,219 (-53.3%), from €34,213 to €15,994
- Financial charges -€6,125
down €6,125 (-41.8%), from €14,655 to €8,530
of which Financial charges: -€6,125
- Other operating charges +€1,440
up €1,440 (+88.3%), from €1,630 to €3,071
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,639,611 | €1,225,736 | -€413,874 | -25.2% |
| Fixed assets | 21/28 | €1,320,795 | €898,818 | -€421,978 | -31.9% |
| Tangible fixed assets | 22/27 | €420 | €1,318 | +€897 | +213% |
| Furniture and vehicles | 24 | €420 | €1,318 | +€897 | +213% |
| Financial fixed assets | 28 | €1,320,375 | €897,500 | -€422,875 | -32.0% |
| Current assets | 29/58 | €318,815 | €326,918 | +€8,103 | +2.5% |
| Amounts receivable within one year | 40/41 | €303,125 | €321,837 | +€18,713 | +6.2% |
| Trade receivables | 40 | €12,337 | €6,050 | -€6,287 | -51.0% |
| Other amounts receivable | 41 | €290,787 | €315,787 | +€25,000 | +8.6% |
| Cash at bank and in hand | 54/58 | €14,907 | €4,432 | -€10,475 | -70.3% |
| Deferred charges and accrued income | 490/1 | €783 | €649 | -€134 | -17.1% |
| Total equity and liabilities | 10/49 | €1,639,611 | €1,225,736 | -€413,874 | -25.2% |
| Equity | 10/15 | €1,045,153 | €1,028,073 | -€17,080 | -1.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €292,000 | €292,000 | = | 0.0% |
| Distributable reserves | 133 | €292,000 | €292,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €733,153 | €716,073 | -€17,080 | -2.3% |
| Amounts payable | 17/49 | €594,457 | €197,663 | -€396,794 | -66.7% |
| Amounts payable after more than one year | 17 | €457,063 | €120,000 | -€337,063 | -73.7% |
| Financial debts | 170/4 | €457,063 | €120,000 | -€337,063 | -73.7% |
| Amounts payable within one year | 42/48 | €137,395 | €77,663 | -€59,732 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | €22,942 | €0 | -€22,942 | -100% |
| Trade debts | 44 | €6,807 | €8,004 | +€1,197 | +17.6% |
| Suppliers | 440/4 | €6,807 | €8,004 | +€1,197 | +17.6% |
| Taxes, remuneration and social security | 45 | €5,362 | €7,262 | +€1,899 | +35.4% |
| Taxes | 450/3 | €5,362 | €4,129 | -€1,233 | -23.0% |
| Remuneration and social security | 454/9 | €0 | €3,133 | +€3,133 | |
| Other amounts payable | 47/48 | €102,284 | €62,397 | -€39,886 | -39.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €21,015 | +€21,015 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €515 | €459 | -€56 | -10.8% |
| Other operating charges | 640/8 | €1,630 | €3,071 | +€1,440 | +88.3% |
| Gross operating margin | 9900 | €34,213 | €15,994 | -€18,219 | -53.3% |
| Operating profit (loss) | 9901 | €32,068 | -€8,550 | -€40,618 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €14,655 | €8,530 | -€6,125 | -41.8% |
| Recurring financial charges | 65 | €14,655 | €8,530 | -€6,125 | -41.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €17,413 | -€17,080 | -€34,493 | |
| Profit (loss) for the period | 9904 | €17,413 | -€17,080 | -€34,493 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,413 | -€17,080 | -€34,493 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.