FRÉLICE: 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.
FRÉLICE
Largest movements
- Cash +€127,884
up €127,884 (+21.8%), from €586,398 to €714,282
mainly Net result for the year (+€191,945) and Tax, wage and social debts (+€40,871)
- Receivables within one year +€117,154
up €117,154 (+65.9%), from €177,657 to €294,811
of which Trade receivables: +€178,923
- Reserves +€191,945
up €191,945 (+23.9%), from €801,962 to €993,907
- Tax, wage and social debts +€40,871
new in 2025: €40,871
- Gross operating margin +€172,785
up €172,785 (+180%), from €96,182 to €268,967
- Taxes +€42,249
up €42,249 (+171%), from €24,703 to €66,953
- Financial income -€6,900
down €6,900 (-65.7%), from €10,505 to €3,605
- Depreciation +€5,653
up €5,653 (+73.0%), from €7,747 to €13,400
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.
Derived cash bridge
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 | €823,381 | €1,059,663 | +€236,282 | +28.7% |
| Fixed assets | 21/28 | €58,657 | €50,570 | -€8,086 | -13.8% |
| Tangible fixed assets | 22/27 | €58,657 | €50,570 | -€8,086 | -13.8% |
| Furniture and vehicles | 24 | €58,657 | €50,570 | -€8,086 | -13.8% |
| Current assets | 29/58 | €764,724 | €1,009,093 | +€244,369 | +32.0% |
| Amounts receivable within one year | 40/41 | €177,657 | €294,811 | +€117,154 | +65.9% |
| Trade receivables | 40 | €100,170 | €279,093 | +€178,923 | +179% |
| Other amounts receivable | 41 | €77,487 | €15,718 | -€61,769 | -79.7% |
| Cash at bank and in hand | 54/58 | €586,398 | €714,282 | +€127,884 | +21.8% |
| Deferred charges and accrued income | 490/1 | €669 | - | -€669 | |
| Total equity and liabilities | 10/49 | €823,381 | €1,059,663 | +€236,282 | +28.7% |
| Equity | 10/15 | €820,512 | €1,012,457 | +€191,945 | +23.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €801,962 | €993,907 | +€191,945 | +23.9% |
| Distributable reserves | 133 | €801,962 | €993,907 | +€191,945 | +23.9% |
| Amounts payable | 17/49 | €2,869 | €47,206 | +€44,338 | +1,545% |
| Amounts payable within one year | 42/48 | €2,869 | €47,206 | +€44,338 | +1,545% |
| Trade debts | 44 | €141 | €2,407 | +€2,266 | +1,613% |
| Suppliers | 440/4 | €141 | €2,407 | +€2,266 | +1,613% |
| Taxes, remuneration and social security | 45 | - | €40,871 | +€40,871 | |
| Taxes | 450/3 | - | €40,871 | +€40,871 | |
| Other amounts payable | 47/48 | €2,728 | €3,928 | +€1,200 | +44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,747 | €13,400 | +€5,653 | +73.0% |
| Other operating charges | 640/8 | €302 | €217 | -€85 | -28.1% |
| Gross operating margin | 9900 | €96,182 | €268,967 | +€172,785 | +180% |
| Operating profit (loss) | 9901 | €88,133 | €255,350 | +€167,217 | +190% |
| Financial income | 75/76B | €10,505 | €3,605 | -€6,900 | -65.7% |
| Recurring financial income | 75 | €10,505 | €3,605 | -€6,900 | -65.7% |
| Financial charges | 65/66B | €44 | €58 | +€14 | +33.1% |
| Recurring financial charges | 65 | €44 | €58 | +€14 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €98,595 | €258,898 | +€160,303 | +163% |
| Income taxes | 67/77 | €24,703 | €66,953 | +€42,249 | +171% |
| Profit (loss) for the period | 9904 | €73,891 | €191,945 | +€118,054 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €73,891 | €191,945 | +€118,054 | +160% |
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 26 October 2026 via checked.be.