FREIN: 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.
FREIN
Largest movements
- Cash +€125,024
up €125,024 (+167.1%), from €74,816 to €199,840
mainly Net result for the year (+€100,717) and Depreciation (+€35,017)
- Tangible fixed assets -€8,439
down €8,439 (-1.5%), from €566,039 to €557,600
of which Plant, machinery and equipment: -€6,948
- Reserves +€100,717
up €100,717 (+99.0%), from €101,774 to €202,491
- Debts after one year -€28,270
down €28,270 (-7.0%), from €406,563 to €378,294
- Trade debts +€21,965
up €21,965 (+354.7%), from €6,193 to €28,159
- Gross operating margin +€66,211
up €66,211 (+54.7%), from €121,023 to €187,234
- Taxes +€14,021
up €14,021 (+111.9%), from €12,527 to €26,548
- Depreciation +€3,873
up €3,873 (+12.4%), from €31,144 to €35,017
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 | €675,536 | €783,676 | +€108,140 | +16.0% |
| Fixed assets | 21/28 | €585,471 | €574,532 | -€10,939 | -1.9% |
| Intangible fixed assets | 21 | €19,432 | €16,932 | -€2,500 | -12.9% |
| Tangible fixed assets | 22/27 | €566,039 | €557,600 | -€8,439 | -1.5% |
| Land and buildings | 22 | €452,467 | €451,998 | -€469 | -0.1% |
| Plant, machinery and equipment | 23 | €111,196 | €104,248 | -€6,948 | -6.2% |
| Furniture and vehicles | 24 | €2,377 | €1,355 | -€1,022 | -43.0% |
| Current assets | 29/58 | €90,065 | €209,144 | +€119,079 | +132.2% |
| Stocks and contracts in progress | 3 | €5,302 | €7,120 | +€1,819 | +34.3% |
| Stocks | 30/36 | €5,302 | €7,120 | +€1,819 | +34.3% |
| Amounts receivable within one year | 40/41 | €8,396 | €567 | -€7,828 | -93.2% |
| Trade receivables | 40 | €403 | €0 | -€403 | -100.0% |
| Other amounts receivable | 41 | €7,992 | €567 | -€7,425 | -92.9% |
| Cash at bank and in hand | 54/58 | €74,816 | €199,840 | +€125,024 | +167.1% |
| Deferred charges and accrued income | 490/1 | €1,552 | €1,617 | +€65 | +4.2% |
| Total equity and liabilities | 10/49 | €675,536 | €783,676 | +€108,140 | +16.0% |
| Equity | 10/15 | €176,774 | €277,491 | +€100,717 | +57.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €101,774 | €202,491 | +€100,717 | +99.0% |
| Distributable reserves | 133 | €101,774 | €202,491 | +€100,717 | +99.0% |
| Amounts payable | 17/49 | €498,761 | €506,185 | +€7,424 | +1.5% |
| Amounts payable after more than one year | 17 | €406,563 | €378,294 | -€28,270 | -7.0% |
| Financial debts | 170/4 | €406,563 | €378,294 | -€28,270 | -7.0% |
| Amounts payable within one year | 42/48 | €87,844 | €124,304 | +€36,460 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €27,239 | €28,270 | +€1,031 | +3.8% |
| Trade debts | 44 | €6,193 | €28,159 | +€21,965 | +354.7% |
| Suppliers | 440/4 | €6,193 | €28,159 | +€21,965 | +354.7% |
| Taxes, remuneration and social security | 45 | €5,301 | €12,847 | +€7,546 | +142.3% |
| Taxes | 450/3 | €5,301 | €12,847 | +€7,546 | +142.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €49,111 | €55,029 | +€5,918 | +12.1% |
| Accrued charges and deferred income | 492/3 | €4,354 | €3,587 | -€767 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,144 | €35,017 | +€3,873 | +12.4% |
| Other operating charges | 640/8 | €3,073 | €3,592 | +€519 | +16.9% |
| Gross operating margin | 9900 | €121,023 | €187,234 | +€66,211 | +54.7% |
| Operating profit (loss) | 9901 | €86,805 | €148,624 | +€61,819 | +71.2% |
| Financial income | 75/76B | €0 | €97 | +€97 | |
| Recurring financial income | 75 | €0 | €97 | +€97 | |
| Financial charges | 65/66B | €21,449 | €21,456 | +€8 | 0.0% |
| Recurring financial charges | 65 | €21,449 | €21,456 | +€8 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €65,356 | €127,265 | +€61,909 | +94.7% |
| Income taxes | 67/77 | €12,527 | €26,548 | +€14,021 | +111.9% |
| Profit (loss) for the period | 9904 | €52,829 | €100,717 | +€47,887 | +90.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,829 | €100,717 | +€47,887 | +90.6% |
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 7 October 2026 via checked.be.