FRELAMCO: 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.
FRELAMCO
Largest movements
- Tangible fixed assets +€340,714
up €340,714 (+36.9%), from €923,257 to €1.3m
of which Land and buildings: +€349,913
- Cash -€268,885
down €268,885 (-29.4%), from €913,426 to €644,541
mainly Investment in fixed assets (net) (-€512,736) and Receivables within one year (-€163,894)
- Receivables within one year +€163,894
up €163,894 (+73.5%), from €222,893 to €386,787
of which Other amounts receivable: +€302,594
- Financial fixed assets +€60,000
up €60,000 (+100.0%), from €60,000 to €120,000
- Debts after one year +€145,069
up €145,069 (+47.0%), from €308,621 to €453,690
- Other debts +€110,746
up €110,746 (+171.1%), from €64,718 to €175,463
- Reserves +€55,920
up €55,920 (+3.5%), from €1.6m to €1.7m
of which Distributable reserves: +€55,920
- Tax, wage and social debts -€34,021
down €34,021 (-82.4%), from €41,265 to €7,244
of which Taxes: -€34,021
- Current portion of long-term debt +€27,598
up €27,598 (+38.4%), from €71,865 to €99,463
- Gross operating margin -€199,217
down €199,217 (-33.9%), from €587,762 to €388,546
- Taxes -€76,411
down €76,411 (-49.1%), from €155,560 to €79,149
- Depreciation +€46,686
up €46,686 (+71.5%), from €65,336 to €112,022
- Other operating charges -€11,081
down €11,081 (-51.9%), from €21,364 to €10,283
- Financial charges +€9,450
up €9,450 (+63.6%), from €14,864 to €24,314
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 | €2,134,800 | €2,443,794 | +€308,994 | +14.5% |
| Fixed assets | 21/28 | €983,257 | €1,383,971 | +€400,714 | +40.8% |
| Tangible fixed assets | 22/27 | €923,257 | €1,263,971 | +€340,714 | +36.9% |
| Land and buildings | 22 | €824,621 | €1,174,534 | +€349,913 | +42.4% |
| Plant, machinery and equipment | 23 | €13,134 | €18,899 | +€5,765 | +43.9% |
| Furniture and vehicles | 24 | €85,502 | €70,538 | -€14,963 | -17.5% |
| Financial fixed assets | 28 | €60,000 | €120,000 | +€60,000 | +100.0% |
| Current assets | 29/58 | €1,151,544 | €1,059,823 | -€91,720 | -8.0% |
| Amounts receivable within one year | 40/41 | €222,893 | €386,787 | +€163,894 | +73.5% |
| Trade receivables | 40 | €186,298 | €47,599 | -€138,700 | -74.5% |
| Other amounts receivable | 41 | €36,595 | €339,189 | +€302,594 | +826.9% |
| Current investments | 50/53 | €9,000 | €21,000 | +€12,000 | +133.3% |
| Cash at bank and in hand | 54/58 | €913,426 | €644,541 | -€268,885 | -29.4% |
| Deferred charges and accrued income | 490/1 | €6,224 | €7,495 | +€1,271 | +20.4% |
| Total equity and liabilities | 10/49 | €2,134,800 | €2,443,794 | +€308,994 | +14.5% |
| Equity | 10/15 | €1,629,617 | €1,685,537 | +€55,920 | +3.4% |
| Contributions | 10/11 | €17,925 | €17,925 | = | 0.0% |
| Reserves | 13 | €1,611,692 | €1,667,612 | +€55,920 | +3.5% |
| Tax-exempt reserves | 132 | €21,007 | €21,007 | = | 0.0% |
| Distributable reserves | 133 | €1,590,685 | €1,646,605 | +€55,920 | +3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €12,376 | €12,376 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €12,376 | €12,376 | = | 0.0% |
| Pensions and similar obligations | 160 | €12,376 | €12,376 | = | 0.0% |
| Amounts payable | 17/49 | €492,807 | €745,882 | +€253,074 | +51.4% |
| Amounts payable after more than one year | 17 | €308,621 | €453,690 | +€145,069 | +47.0% |
| Financial debts | 170/4 | €308,621 | €453,690 | +€145,069 | +47.0% |
| Amounts payable within one year | 42/48 | €184,186 | €292,191 | +€108,005 | +58.6% |
| Current portion of amounts payable after more than one year | 42 | €71,865 | €99,463 | +€27,598 | +38.4% |
| Trade debts | 44 | €2,632 | €6,316 | +€3,683 | +139.9% |
| Suppliers | 440/4 | €2,632 | €6,316 | +€3,683 | +139.9% |
| Advances received on contracts in progress | 46 | €3,706 | €3,706 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €41,265 | €7,244 | -€34,021 | -82.4% |
| Taxes | 450/3 | €41,265 | €7,244 | -€34,021 | -82.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €64,718 | €175,463 | +€110,746 | +171.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,336 | €112,022 | +€46,686 | +71.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€1,300 | -€1,300 | |
| Other operating charges | 640/8 | €21,364 | €10,283 | -€11,081 | -51.9% |
| Gross operating margin | 9900 | €587,762 | €388,546 | -€199,217 | -33.9% |
| Operating profit (loss) | 9901 | €501,062 | €267,541 | -€233,521 | -46.6% |
| Financial income | 75/76B | €11,059 | €13,790 | +€2,731 | +24.7% |
| Recurring financial income | 75 | €11,059 | €13,790 | +€2,731 | +24.7% |
| Financial charges | 65/66B | €14,864 | €24,314 | +€9,450 | +63.6% |
| Recurring financial charges | 65 | €14,864 | €24,314 | +€9,450 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €497,257 | €257,017 | -€240,240 | -48.3% |
| Income taxes | 67/77 | €155,560 | €79,149 | -€76,411 | -49.1% |
| Profit (loss) for the period | 9904 | €341,697 | €177,868 | -€163,828 | -47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €341,697 | €177,868 | -€163,828 | -47.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.