FREJA CONCEPTS: 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.
FREJA CONCEPTS
Largest movements
- Receivables within one year +€16,743
up €16,743 (+252.6%), from €6,629 to €23,373
of which Trade receivables: +€14,949
- Stocks and contracts +€9,481
up €9,481 (+6.9%), from €137,363 to €146,844
of which Stocks: +€5,995
- Cash -€4,211
down €4,211 (-14.8%), from €28,457 to €24,246
mainly Receivables within one year (-€16,743) and Stocks and contracts (-€9,481)
- Tangible fixed assets -€3,507
down €3,507 (-8.9%), from €39,283 to €35,776
of which Plant, machinery and equipment: -€2,108
- Trade debts +€14,534
up €14,534 (+92.8%), from €15,663 to €30,197
- Other debts +€7,195
up €7,195 (+9.9%), from €72,963 to €80,158
- Tax, wage and social debts -€3,263
down €3,263 (-30.9%), from €10,556 to €7,293
of which Taxes: -€3,086
- Financial income -€1,353
down €1,353 (-95.9%), from €1,411 to €58
- Financial charges -€861
down €861 (-74.6%), from €1,153 to €292
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 | €212,888 | €231,337 | +€18,448 | +8.7% |
| Fixed assets | 21/28 | €39,283 | €35,776 | -€3,507 | -8.9% |
| Tangible fixed assets | 22/27 | €39,283 | €35,776 | -€3,507 | -8.9% |
| Land and buildings | 22 | €29,109 | €28,093 | -€1,016 | -3.5% |
| Plant, machinery and equipment | 23 | €8,433 | €6,325 | -€2,108 | -25.0% |
| Furniture and vehicles | 24 | €1,741 | €1,358 | -€382 | -22.0% |
| Current assets | 29/58 | €173,606 | €195,561 | +€21,955 | +12.6% |
| Stocks and contracts in progress | 3 | €137,363 | €146,844 | +€9,481 | +6.9% |
| Stocks | 30/36 | €128,113 | €134,108 | +€5,995 | +4.7% |
| Contracts in progress | 37 | €9,250 | €12,736 | +€3,486 | +37.7% |
| Amounts receivable within one year | 40/41 | €6,629 | €23,373 | +€16,743 | +252.6% |
| Trade receivables | 40 | €4,148 | €19,097 | +€14,949 | +360.4% |
| Other amounts receivable | 41 | €2,481 | €4,276 | +€1,794 | +72.3% |
| Cash at bank and in hand | 54/58 | €28,457 | €24,246 | -€4,211 | -14.8% |
| Deferred charges and accrued income | 490/1 | €1,157 | €1,099 | -€58 | -5.0% |
| Total equity and liabilities | 10/49 | €212,888 | €231,337 | +€18,448 | +8.7% |
| Equity | 10/15 | €113,707 | €113,689 | -€18 | 0.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €94,638 | €94,638 | = | 0.0% |
| Distributable reserves | 133 | €94,638 | €94,638 | = | 0.0% |
| Profit (loss) carried forward | 14 | €477 | €459 | -€18 | -3.7% |
| Amounts payable | 17/49 | €99,181 | €117,647 | +€18,466 | +18.6% |
| Amounts payable within one year | 42/48 | €99,181 | €117,647 | +€18,466 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €15,663 | €30,197 | +€14,534 | +92.8% |
| Suppliers | 440/4 | €15,663 | €30,197 | +€14,534 | +92.8% |
| Taxes, remuneration and social security | 45 | €10,556 | €7,293 | -€3,263 | -30.9% |
| Taxes | 450/3 | €5,541 | €2,455 | -€3,086 | -55.7% |
| Remuneration and social security | 454/9 | €5,015 | €4,838 | -€177 | -3.5% |
| Other amounts payable | 47/48 | €72,963 | €80,158 | +€7,195 | +9.9% |
| Remuneration, social security and pensions | 62 | €46,516 | €46,709 | +€193 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,767 | €3,507 | -€261 | -6.9% |
| Other operating charges | 640/8 | €7,418 | €7,386 | -€33 | -0.4% |
| Gross operating margin | 9900 | €58,694 | €58,123 | -€571 | -1.0% |
| Operating profit (loss) | 9901 | €992 | €521 | -€471 | -47.5% |
| Financial income | 75/76B | €1,411 | €58 | -€1,353 | -95.9% |
| Recurring financial income | 75 | €1,411 | €58 | -€1,353 | -95.9% |
| Financial charges | 65/66B | €1,153 | €292 | -€861 | -74.6% |
| Recurring financial charges | 65 | €1,153 | €292 | -€861 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | €1,250 | €287 | -€963 | -77.0% |
| Income taxes | 67/77 | €818 | €304 | -€513 | -62.8% |
| Profit (loss) for the period | 9904 | €433 | -€18 | -€450 | |
| Profit (loss) for the period to be appropriated | 9905 | €433 | -€18 | -€450 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.