FREKA: 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.
FREKA
Largest movements
- Tangible fixed assets -€17,102
down €17,102 (-1.4%), from €1.2m to €1.2m
of which Plant, machinery and equipment: -€857,419
- Cash -€16,554
down €16,554 (-48.4%), from €34,208 to €17,654
mainly Other debts (-€22,419) and Net result for the year (-€6,983)
- Other debts -€22,419
down €22,419 (-1.7%), from €1.3m to €1.3m
- Gross operating margin +€18,139
up €18,139 (+190.0%), from €9,547 to €27,686
- Other operating charges -€10,836
down €10,836 (-47.0%), from €23,062 to €12,226
- Depreciation -€8,233
down €8,233 (-27.3%), from €30,210 to €21,976
- Financial charges -€514
down €514 (-52.4%), from €980 to €467
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 | €1,257,683 | €1,224,026 | -€33,657 | -2.7% |
| Fixed assets | 21/28 | €1,223,474 | €1,206,372 | -€17,102 | -1.4% |
| Tangible fixed assets | 22/27 | €1,223,474 | €1,206,372 | -€17,102 | -1.4% |
| Land and buildings | 22 | €351,248 | €1,191,494 | +€840,246 | +239.2% |
| Plant, machinery and equipment | 23 | €857,419 | €0 | -€857,419 | -100.0% |
| Furniture and vehicles | 24 | €14,808 | €14,879 | +€71 | +0.5% |
| Current assets | 29/58 | €34,208 | €17,654 | -€16,554 | -48.4% |
| Cash at bank and in hand | 54/58 | €34,208 | €17,654 | -€16,554 | -48.4% |
| Total equity and liabilities | 10/49 | €1,257,683 | €1,224,026 | -€33,657 | -2.7% |
| Equity | 10/15 | -€40,226 | -€47,210 | -€6,983 | -17.4% |
| Contributions | 10/11 | €155,429 | €155,429 | = | 0.0% |
| Capital | 10 | €155,429 | €155,429 | = | 0.0% |
| Issued capital | 100 | €155,429 | €155,429 | = | 0.0% |
| Reserves | 13 | €521 | €521 | = | 0.0% |
| Non-distributable reserves | 130/1 | €521 | €521 | = | 0.0% |
| Legal reserve | 130 | €521 | €521 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€196,176 | -€203,159 | -€6,983 | -3.6% |
| Amounts payable | 17/49 | €1,297,909 | €1,271,236 | -€26,673 | -2.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,297,909 | €1,271,236 | -€26,673 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €4,254 | €0 | -€4,254 | -100.0% |
| Other amounts payable | 47/48 | €1,293,655 | €1,271,236 | -€22,419 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,210 | €21,976 | -€8,233 | -27.3% |
| Other operating charges | 640/8 | €23,062 | €12,226 | -€10,836 | -47.0% |
| Gross operating margin | 9900 | €9,547 | €27,686 | +€18,139 | +190.0% |
| Operating profit (loss) | 9901 | -€43,724 | -€6,517 | +€37,208 | +85.1% |
| Financial charges | 65/66B | €980 | €467 | -€514 | -52.4% |
| Recurring financial charges | 65 | €980 | €467 | -€514 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | -€44,705 | -€6,983 | +€37,722 | +84.4% |
| Profit (loss) for the period | 9904 | -€44,705 | -€6,983 | +€37,722 | +84.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,705 | -€6,983 | +€37,722 | +84.4% |
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 6 October 2026 via checked.be.