FREJU: 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.
FREJU
Largest movements
- Cash -€22,247
down €22,247 (-34.0%), from €65,478 to €43,231
mainly Investment in fixed assets (net) (-€55,192) and Debts after one year (-€19,609)
- Tangible fixed assets +€14,858
up €14,858 (+10.0%), from €149,279 to €164,137
of which Other tangible fixed assets: +€34,777
- Receivables within one year +€10,855
up €10,855 (+6.8%), from €159,930 to €170,785
of which Trade receivables: +€30,855
- Tax, wage and social debts +€21,944
up €21,944 (+29.7%), from €73,783 to €95,726
of which Remuneration and social security: +€34,573
- Debts after one year -€19,609
down €19,609 (-6.7%), from €290,850 to €271,241
- Profit (loss) carried forward +€8,349
up €8,349 (+13.1%), from -€63,807 to -€55,459
- Other debts -€7,706
down €7,706 (-2.8%), from €276,338 to €268,632
- Gross operating margin -€47,629
down €47,629 (-42.6%), from €111,835 to €64,206
- Depreciation -€7,095
down €7,095 (-15.0%), from €47,429 to €40,334
- Financial charges -€4,607
down €4,607 (-32.5%), from €14,178 to €9,571
- Taxes +€2,034
up €2,034 (+1190.9%), from €171 to €2,205
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 | €625,156 | €628,621 | +€3,466 | +0.6% |
| Fixed assets | 21/28 | €399,747 | €414,605 | +€14,858 | +3.7% |
| Tangible fixed assets | 22/27 | €149,279 | €164,137 | +€14,858 | +10.0% |
| Plant, machinery and equipment | 23 | €16,714 | €12,386 | -€4,328 | -25.9% |
| Furniture and vehicles | 24 | €96,606 | €81,015 | -€15,591 | -16.1% |
| Other tangible fixed assets | 26 | €35,958 | €70,735 | +€34,777 | +96.7% |
| Financial fixed assets | 28 | €250,469 | €250,469 | = | 0.0% |
| Current assets | 29/58 | €225,408 | €214,016 | -€11,392 | -5.1% |
| Amounts receivable within one year | 40/41 | €159,930 | €170,785 | +€10,855 | +6.8% |
| Trade receivables | 40 | €39,930 | €70,785 | +€30,855 | +77.3% |
| Other amounts receivable | 41 | €120,000 | €100,000 | -€20,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €65,478 | €43,231 | -€22,247 | -34.0% |
| Total equity and liabilities | 10/49 | €625,156 | €628,621 | +€3,466 | +0.6% |
| Equity | 10/15 | -€16,297 | -€7,949 | +€8,349 | +51.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,910 | €28,910 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,050 | €27,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,807 | -€55,459 | +€8,349 | +13.1% |
| Amounts payable | 17/49 | €641,453 | €636,570 | -€4,883 | -0.8% |
| Amounts payable after more than one year | 17 | €290,850 | €271,241 | -€19,609 | -6.7% |
| Financial debts | 170/4 | €290,850 | €271,241 | -€19,609 | -6.7% |
| Amounts payable within one year | 42/48 | €350,603 | €365,329 | +€14,726 | +4.2% |
| Trade debts | 44 | €482 | €971 | +€489 | +101.3% |
| Suppliers | 440/4 | €482 | €971 | +€489 | +101.3% |
| Taxes, remuneration and social security | 45 | €73,783 | €95,726 | +€21,944 | +29.7% |
| Taxes | 450/3 | €15,382 | €2,753 | -€12,630 | -82.1% |
| Remuneration and social security | 454/9 | €58,400 | €92,974 | +€34,573 | +59.2% |
| Other amounts payable | 47/48 | €276,338 | €268,632 | -€7,706 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,429 | €40,334 | -€7,095 | -15.0% |
| Other operating charges | 640/8 | €3,494 | €3,747 | +€253 | +7.2% |
| Gross operating margin | 9900 | €111,835 | €64,206 | -€47,629 | -42.6% |
| Operating profit (loss) | 9901 | €60,912 | €20,125 | -€40,787 | -67.0% |
| Financial charges | 65/66B | €14,178 | €9,571 | -€4,607 | -32.5% |
| Recurring financial charges | 65 | €14,178 | €9,571 | -€4,607 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €46,734 | €10,553 | -€36,180 | -77.4% |
| Income taxes | 67/77 | €171 | €2,205 | +€2,034 | +1190.9% |
| Profit (loss) for the period | 9904 | €46,563 | €8,349 | -€38,214 | -82.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,563 | €8,349 | -€38,214 | -82.1% |
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 4 October 2026 via checked.be.