Freis: 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.
Freis
Largest movements
- Current investments -€160,000
down €160,000 (-100.0%), from €160,000 to €0
- Tangible fixed assets -€48,894
down €48,894 (-5.8%), from €849,715 to €800,821
of which Land and buildings: -€45,836
- Cash +€43,117
up €43,117 (+11.3%), from €380,475 to €423,592
mainly Current investments (+€160,000) and Depreciation (+€48,894)
- Debts after one year -€160,196
down €160,196 (-24.3%), from €657,890 to €497,694
of which Other amounts payable: -€160,196
- Gross operating margin -€130,343
down €130,343 (-55.3%), from €235,628 to €105,285
- Taxes -€33,902
down €33,902 (-97.5%), from €34,766 to €863
- Depreciation -€19,997
down €19,997 (-29.0%), from €68,891 to €48,894
- Financial charges -€2,835
down €2,835 (-6.4%), from €44,000 to €41,165
- Financial income -€2,787
down €2,787 (-58.6%), from €4,758 to €1,972
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 | €1,398,776 | €1,229,096 | -€169,680 | -12.1% |
| Fixed assets | 21/28 | €849,715 | €800,821 | -€48,894 | -5.8% |
| Tangible fixed assets | 22/27 | €849,715 | €800,821 | -€48,894 | -5.8% |
| Land and buildings | 22 | €792,614 | €746,779 | -€45,836 | -5.8% |
| Plant, machinery and equipment | 23 | €2,036 | €1,727 | -€309 | -15.2% |
| Other tangible fixed assets | 26 | €55,064 | €52,315 | -€2,749 | -5.0% |
| Current assets | 29/58 | €549,062 | €428,275 | -€120,786 | -22.0% |
| Amounts receivable within one year | 40/41 | €4,056 | €2,108 | -€1,948 | -48.0% |
| Trade receivables | 40 | €990 | €880 | -€110 | -11.1% |
| Other amounts receivable | 41 | €3,066 | €1,228 | -€1,838 | -59.9% |
| Current investments | 50/53 | €160,000 | €0 | -€160,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €380,475 | €423,592 | +€43,117 | +11.3% |
| Deferred charges and accrued income | 490/1 | €4,530 | €2,575 | -€1,955 | -43.2% |
| Total equity and liabilities | 10/49 | €1,398,776 | €1,229,096 | -€169,680 | -12.1% |
| Equity | 10/15 | €672,790 | €670,108 | -€2,681 | -0.4% |
| Contributions | 10/11 | €475,000 | €475,000 | = | 0.0% |
| Reserves | 13 | €197,790 | €195,108 | -€2,681 | -1.4% |
| Tax-exempt reserves | 132 | €55,407 | €50,875 | -€4,532 | -8.2% |
| Distributable reserves | 133 | €142,383 | €144,233 | +€1,850 | +1.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €18,469 | €16,958 | -€1,511 | -8.2% |
| Deferred taxes | 168 | €18,469 | €16,958 | -€1,511 | -8.2% |
| Amounts payable | 17/49 | €707,517 | €542,029 | -€165,488 | -23.4% |
| Amounts payable after more than one year | 17 | €657,890 | €497,694 | -€160,196 | -24.3% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €657,890 | €497,694 | -€160,196 | -24.3% |
| Amounts payable within one year | 42/48 | €6,430 | €2,570 | -€3,860 | -60.0% |
| Current portion of amounts payable after more than one year | 42 | €1,771 | €0 | -€1,771 | -100.0% |
| Trade debts | 44 | €1,321 | €2,570 | +€1,249 | +94.5% |
| Suppliers | 440/4 | €1,321 | €2,570 | +€1,249 | +94.5% |
| Taxes, remuneration and social security | 45 | €3,338 | €0 | -€3,338 | -100.0% |
| Taxes | 450/3 | €3,338 | €0 | -€3,338 | -100.0% |
| Accrued charges and deferred income | 492/3 | €43,198 | €41,766 | -€1,432 | -3.3% |
| Non-recurring operating income | 76A | €27 | €0 | -€27 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,891 | €48,894 | -€19,997 | -29.0% |
| Other operating charges | 640/8 | €20,012 | €20,526 | +€515 | +2.6% |
| Gross operating margin | 9900 | €235,628 | €105,285 | -€130,343 | -55.3% |
| Operating profit (loss) | 9901 | €146,725 | €35,864 | -€110,861 | -75.6% |
| Financial income | 75/76B | €4,758 | €1,972 | -€2,787 | -58.6% |
| Recurring financial income | 75 | €4,758 | €1,972 | -€2,787 | -58.6% |
| Financial charges | 65/66B | €44,000 | €41,165 | -€2,835 | -6.4% |
| Recurring financial charges | 65 | €44,000 | €41,165 | -€2,835 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €107,484 | -€3,328 | -€110,812 | |
| Transfer from deferred taxes | 780 | €1,511 | €1,511 | = | 0.0% |
| Income taxes | 67/77 | €34,766 | €863 | -€33,902 | -97.5% |
| Profit (loss) for the period | 9904 | €74,229 | -€2,681 | -€76,910 | |
| Transfer from tax-exempt reserves | 789 | €4,532 | €4,532 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,760 | €1,850 | -€76,910 | -97.7% |
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 9 October 2026 via checked.be.