Frela MB: 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.
Frela MB
Largest movements
- Deferred charges and accrued income +€149,430
up €149,430 (+143.5%), from €104,167 to €253,598
- Receivables within one year -€61,879
down €61,879 (-69.9%), from €88,495 to €26,616
of which Trade receivables: -€64,712
- Cash +€43,069
up €43,069 (+12.7%), from €339,456 to €382,525
mainly Net result for the year (+€498,609) and Receivables within one year (+€61,879)
- Reserves +€90,952
up €90,952 (+22.3%), from €407,657 to €498,609
- Tax, wage and social debts +€39,953
up €39,953 (+31.6%), from €126,442 to €166,394
- Gross operating margin +€155,209
up €155,209 (+30.4%), from €509,730 to €664,940
- Taxes +€40,099
up €40,099 (+32.3%), from €124,042 to €164,141
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 | €536,810 | €667,437 | +€130,627 | +24.3% |
| Fixed assets | 21/28 | €4,692 | €4,699 | +€7 | +0.1% |
| Tangible fixed assets | 22/27 | €4,692 | €4,699 | +€7 | +0.1% |
| Plant, machinery and equipment | 23 | €1,380 | €2,129 | +€749 | +54.3% |
| Furniture and vehicles | 24 | €3,312 | €2,570 | -€742 | -22.4% |
| Current assets | 29/58 | €532,118 | €662,738 | +€130,620 | +24.5% |
| Amounts receivable within one year | 40/41 | €88,495 | €26,616 | -€61,879 | -69.9% |
| Trade receivables | 40 | €65,089 | €377 | -€64,712 | -99.4% |
| Other amounts receivable | 41 | €23,406 | €26,238 | +€2,832 | +12.1% |
| Cash at bank and in hand | 54/58 | €339,456 | €382,525 | +€43,069 | +12.7% |
| Deferred charges and accrued income | 490/1 | €104,167 | €253,598 | +€149,430 | +143.5% |
| Total equity and liabilities | 10/49 | €536,810 | €667,437 | +€130,627 | +24.3% |
| Equity | 10/15 | €409,657 | €500,609 | +€90,952 | +22.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €407,657 | €498,609 | +€90,952 | +22.3% |
| Distributable reserves | 133 | €407,657 | €498,609 | +€90,952 | +22.3% |
| Amounts payable | 17/49 | €127,153 | €166,828 | +€39,675 | +31.2% |
| Amounts payable within one year | 42/48 | €127,153 | €166,828 | +€39,675 | +31.2% |
| Trade debts | 44 | €712 | €434 | -€278 | -39.0% |
| Suppliers | 440/4 | €712 | €434 | -€278 | -39.0% |
| Taxes, remuneration and social security | 45 | €126,442 | €166,394 | +€39,953 | +31.6% |
| Taxes | 450/3 | €126,442 | €166,394 | +€39,953 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,398 | €1,782 | +€384 | +27.5% |
| Other operating charges | 640/8 | €194 | €357 | +€164 | +84.5% |
| Gross operating margin | 9900 | €509,730 | €664,940 | +€155,209 | +30.4% |
| Operating profit (loss) | 9901 | €508,139 | €662,801 | +€154,662 | +30.4% |
| Financial charges | 65/66B | €216 | €51 | -€165 | -76.3% |
| Recurring financial charges | 65 | €216 | €51 | -€165 | -76.3% |
| Profit (loss) for the period before taxes | 9903 | €507,923 | €662,749 | +€154,826 | +30.5% |
| Income taxes | 67/77 | €124,042 | €164,141 | +€40,099 | +32.3% |
| Profit (loss) for the period | 9904 | €383,881 | €498,609 | +€114,727 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €383,881 | €498,609 | +€114,727 | +29.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.