FRELIJA: 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.
FRELIJA
Largest movements
- Cash -€84,439
down €84,439 (-34.2%), from €247,194 to €162,755
mainly Contributions, distributions and other (-€130,000) and Current portion of long-term debt (-€48,289)
- Stocks and contracts -€31,737
down €31,737 (-15.6%), from €203,318 to €171,581
- Receivables within one year +€28,469
up €28,469 (+73.6%), from €38,683 to €67,152
of which Other amounts receivable: +€29,738
- Tangible fixed assets -€13,798
down €13,798 (-14.6%), from €94,232 to €80,434
of which Plant, machinery and equipment: -€15,279
- Current portion of long-term debt -€48,289
down €48,289 (-94.2%), from €51,289 to €3,000
- Profit (loss) carried forward -€29,616
down €29,616 (-22.1%), from €134,114 to €104,498
- Other debts -€25,366
down €25,366 (-14.3%), from €177,109 to €151,743
- Tax, wage and social debts -€9,236
down €9,236 (-13.6%), from €67,808 to €58,572
of which Taxes: -€13,111
- Short-term financial debts +€6,741
new in 2025: €6,741
- Gross operating margin -€110,042
down €110,042 (-19.0%), from €577,675 to €467,633
- Taxes -€30,318
down €30,318 (-48.3%), from €62,707 to €32,388
- Staff costs +€23,606
up €23,606 (+8.7%), from €272,443 to €296,049
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 | €589,535 | €484,855 | -€104,680 | -17.8% |
| Fixed assets | 21/28 | €94,232 | €80,434 | -€13,798 | -14.6% |
| Tangible fixed assets | 22/27 | €94,232 | €80,434 | -€13,798 | -14.6% |
| Land and buildings | 22 | €48,494 | €45,904 | -€2,590 | -5.3% |
| Plant, machinery and equipment | 23 | €27,115 | €11,835 | -€15,279 | -56.4% |
| Furniture and vehicles | 24 | - | €1,884 | +€1,884 | |
| Other tangible fixed assets | 26 | €18,623 | €20,811 | +€2,188 | +11.7% |
| Current assets | 29/58 | €495,303 | €404,421 | -€90,882 | -18.3% |
| Stocks and contracts in progress | 3 | €203,318 | €171,581 | -€31,737 | -15.6% |
| Stocks | 30/36 | €203,318 | €171,581 | -€31,737 | -15.6% |
| Amounts receivable within one year | 40/41 | €38,683 | €67,152 | +€28,469 | +73.6% |
| Trade receivables | 40 | €26,174 | €24,905 | -€1,269 | -4.8% |
| Other amounts receivable | 41 | €12,509 | €42,247 | +€29,738 | +237.7% |
| Cash at bank and in hand | 54/58 | €247,194 | €162,755 | -€84,439 | -34.2% |
| Deferred charges and accrued income | 490/1 | €6,107 | €2,932 | -€3,175 | -52.0% |
| Total equity and liabilities | 10/49 | €589,535 | €484,855 | -€104,680 | -17.8% |
| Equity | 10/15 | €164,114 | €134,498 | -€29,616 | -18.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,114 | €104,498 | -€29,616 | -22.1% |
| Amounts payable | 17/49 | €425,421 | €350,357 | -€75,064 | -17.6% |
| Amounts payable after more than one year | 17 | €15,000 | €12,000 | -€3,000 | -20.0% |
| Financial debts | 170/4 | €15,000 | €12,000 | -€3,000 | -20.0% |
| Amounts payable within one year | 42/48 | €410,421 | €338,357 | -€72,064 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €51,289 | €3,000 | -€48,289 | -94.2% |
| Financial debts | 43 | - | €6,741 | +€6,741 | |
| Credit institutions | 430/8 | - | €6,741 | +€6,741 | |
| Trade debts | 44 | €114,216 | €118,302 | +€4,086 | +3.6% |
| Suppliers | 440/4 | €114,216 | €118,302 | +€4,086 | +3.6% |
| Taxes, remuneration and social security | 45 | €67,808 | €58,572 | -€9,236 | -13.6% |
| Taxes | 450/3 | €19,444 | €6,333 | -€13,111 | -67.4% |
| Remuneration and social security | 454/9 | €48,364 | €52,239 | +€3,875 | +8.0% |
| Other amounts payable | 47/48 | €177,109 | €151,743 | -€25,366 | -14.3% |
| Non-recurring operating income | 76A | €3,000 | €6,046 | +€3,046 | +101.5% |
| Remuneration, social security and pensions | 62 | €272,443 | €296,049 | +€23,606 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,303 | €30,788 | -€4,515 | -12.8% |
| Other operating charges | 640/8 | €2,985 | €3,450 | +€465 | +15.6% |
| Gross operating margin | 9900 | €577,675 | €467,633 | -€110,042 | -19.0% |
| Operating profit (loss) | 9901 | €266,945 | €137,346 | -€129,599 | -48.5% |
| Financial income | 75/76B | €118 | €426 | +€308 | +260.9% |
| Recurring financial income | 75 | €118 | €426 | +€308 | +260.9% |
| Financial charges | 65/66B | €5,791 | €5,000 | -€791 | -13.7% |
| Recurring financial charges | 65 | €5,791 | €5,000 | -€791 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €261,272 | €132,772 | -€128,500 | -49.2% |
| Income taxes | 67/77 | €62,707 | €32,388 | -€30,318 | -48.3% |
| Profit (loss) for the period | 9904 | €198,565 | €100,384 | -€98,182 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €198,565 | €100,384 | -€98,182 | -49.4% |
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 11 October 2026 via checked.be.