FRELINE: 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.
FRELINE
Largest movements
- Tangible fixed assets -€53,828
down €53,828 (-8.8%), from €612,563 to €558,736
of which Land and buildings: -€32,926
- Cash -€8,215
down €8,215 (-18.0%), from €45,618 to €37,403
mainly Debts after one year (-€52,082) and Contributions, distributions and other (-€37,002)
- Deferred charges and accrued income -€7,721
down €7,721 (-60.2%), from €12,817 to €5,097
- Debts after one year -€52,082
down €52,082 (-11.5%), from €452,983 to €400,901
- Reserves -€37,002
down €37,002 (-31.8%), from €116,178 to €79,176
- Other debts +€29,780
up €29,780 (+182%), from €16,402 to €46,182
- Trade debts -€11,540
down €11,540 (-28.9%), from €39,894 to €28,354
- Profit (loss) carried forward -€11,034
down €11,034, from €0 to -€11,034
- Gross operating margin -€28,637
down €28,637 (-9.4%), from €305,449 to €276,812
- Staff costs +€8,887
up €8,887 (+4.5%), from €197,958 to €206,845
- Taxes -€6,351
down €6,351 (-82.7%), from €7,683 to €1,332
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 | €705,858 | €635,603 | -€70,255 | -10.0% |
| Formation expenses | 20 | €404 | €0 | -€404 | -100% |
| Fixed assets | 21/28 | €613,077 | €558,736 | -€54,342 | -8.9% |
| Intangible fixed assets | 21 | €514 | €0 | -€514 | -100% |
| Tangible fixed assets | 22/27 | €612,563 | €558,736 | -€53,828 | -8.8% |
| Land and buildings | 22 | €543,146 | €510,220 | -€32,926 | -6.1% |
| Plant, machinery and equipment | 23 | €54,813 | €40,984 | -€13,829 | -25.2% |
| Furniture and vehicles | 24 | €6,523 | €3,276 | -€3,247 | -49.8% |
| Leasing and similar rights | 25 | €8,083 | €4,256 | -€3,826 | -47.3% |
| Current assets | 29/58 | €92,377 | €76,868 | -€15,509 | -16.8% |
| Stocks and contracts in progress | 3 | €31,213 | €25,062 | -€6,151 | -19.7% |
| Stocks | 30/36 | €31,213 | €25,062 | -€6,151 | -19.7% |
| Amounts receivable within one year | 40/41 | €2,729 | €9,306 | +€6,577 | +241% |
| Trade receivables | 40 | €0 | €2,427 | +€2,427 | |
| Other amounts receivable | 41 | €2,729 | €6,878 | +€4,150 | +152% |
| Cash at bank and in hand | 54/58 | €45,618 | €37,403 | -€8,215 | -18.0% |
| Deferred charges and accrued income | 490/1 | €12,817 | €5,097 | -€7,721 | -60.2% |
| Total equity and liabilities | 10/49 | €705,858 | €635,603 | -€70,255 | -10.0% |
| Equity | 10/15 | €123,678 | €75,642 | -€48,036 | -38.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €116,178 | €79,176 | -€37,002 | -31.8% |
| Distributable reserves | 133 | €116,178 | €79,176 | -€37,002 | -31.8% |
| Profit (loss) carried forward | 14 | €0 | -€11,034 | -€11,034 | |
| Amounts payable | 17/49 | €582,180 | €559,961 | -€22,219 | -3.8% |
| Amounts payable after more than one year | 17 | €452,983 | €400,901 | -€52,082 | -11.5% |
| Financial debts | 170/4 | €452,983 | €400,901 | -€52,082 | -11.5% |
| Amounts payable within one year | 42/48 | €129,197 | €158,272 | +€29,075 | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €51,140 | €54,932 | +€3,792 | +7.4% |
| Trade debts | 44 | €39,894 | €28,354 | -€11,540 | -28.9% |
| Suppliers | 440/4 | €39,894 | €28,354 | -€11,540 | -28.9% |
| Taxes, remuneration and social security | 45 | €21,761 | €28,804 | +€7,043 | +32.4% |
| Taxes | 450/3 | €3,122 | €3,873 | +€751 | +24.1% |
| Remuneration and social security | 454/9 | €18,639 | €24,931 | +€6,292 | +33.8% |
| Other amounts payable | 47/48 | €16,402 | €46,182 | +€29,780 | +182% |
| Accrued charges and deferred income | 492/3 | - | €788 | +€788 | |
| Remuneration, social security and pensions | 62 | €197,958 | €206,845 | +€8,887 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,643 | €59,599 | -€1,045 | -1.7% |
| Other operating charges | 640/8 | €2,385 | €3,712 | +€1,327 | +55.7% |
| Gross operating margin | 9900 | €305,449 | €276,812 | -€28,637 | -9.4% |
| Operating profit (loss) | 9901 | €44,463 | €6,656 | -€37,807 | -85.0% |
| Financial income | 75/76B | €321 | €123 | -€198 | -61.8% |
| Recurring financial income | 75 | €321 | €123 | -€198 | -61.8% |
| Financial charges | 65/66B | €15,492 | €16,481 | +€988 | +6.4% |
| Recurring financial charges | 65 | €15,492 | €16,481 | +€988 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €29,292 | -€9,702 | -€38,994 | |
| Income taxes | 67/77 | €7,683 | €1,332 | -€6,351 | -82.7% |
| Profit (loss) for the period | 9904 | €21,609 | -€11,034 | -€32,643 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,609 | -€11,034 | -€32,643 |
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 25 October 2026 via checked.be.