FRELLUSE: 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.
FRELLUSE
Largest movements
- Tangible fixed assets -€6,761
down €6,761 (-3.7%), from €184,552 to €177,790
- Cash -€4,740
down €4,740 (-41.2%), from €11,502 to €6,763
mainly Debts after one year (-€12,026) and Receivables within one year (-€3,015)
- Receivables within one year +€3,015
up €3,015 (+60.2%), from €5,012 to €8,028
of which Trade receivables: +€3,000
- Deferred charges and accrued income -€2,983
down €2,983 (-90.6%), from €3,292 to €309
- Debts after one year -€12,026
down €12,026 (-8.7%), from €138,781 to €126,756
of which Financial debts: -€11,776
- Other operating charges +€2,964
up €2,964 (+211.2%), from €1,404 to €4,368
- Gross operating margin -€1,070
down €1,070 (-7.4%), from €14,482 to €13,412
- Taxes -€822
no longer reported in 2024 (was €822)
- Financial charges -€262
down €262 (-9.2%), from €2,857 to €2,594
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €205,051 | €193,145 | -€11,905 | -5.8% |
| Formation expenses | 20 | €693 | €256 | -€437 | -63.1% |
| Fixed assets | 21/28 | €184,552 | €177,790 | -€6,761 | -3.7% |
| Tangible fixed assets | 22/27 | €184,552 | €177,790 | -€6,761 | -3.7% |
| Land and buildings | 22 | €184,552 | €177,790 | -€6,761 | -3.7% |
| Current assets | 29/58 | €19,806 | €15,099 | -€4,707 | -23.8% |
| Amounts receivable within one year | 40/41 | €5,012 | €8,028 | +€3,015 | +60.2% |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 41 | €5,012 | €5,028 | +€15 | +0.3% |
| Cash at bank and in hand | 54/58 | €11,502 | €6,763 | -€4,740 | -41.2% |
| Deferred charges and accrued income | 490/1 | €3,292 | €309 | -€2,983 | -90.6% |
| Total equity and liabilities | 10/49 | €205,051 | €193,145 | -€11,905 | -5.8% |
| Equity | 10/15 | €54,065 | €53,354 | -€710 | -1.3% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €8,500 | €8,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €565 | -€146 | -€710 | |
| Amounts payable | 17/49 | €150,986 | €139,791 | -€11,195 | -7.4% |
| Amounts payable after more than one year | 17 | €138,781 | €126,756 | -€12,026 | -8.7% |
| Financial debts | 170/4 | €137,581 | €125,806 | -€11,776 | -8.6% |
| Other amounts payable | 178/9 | €1,200 | €950 | -€250 | -20.8% |
| Amounts payable within one year | 42/48 | €11,784 | €13,035 | +€1,251 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €11,572 | €11,776 | +€203 | +1.8% |
| Trade debts | 44 | €212 | €1,260 | +€1,048 | +495.0% |
| Suppliers | 440/4 | €212 | €1,260 | +€1,048 | +495.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €421 | €0 | -€421 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,198 | €7,198 | = | 0.0% |
| Other operating charges | 640/8 | €1,404 | €4,368 | +€2,964 | +211.2% |
| Gross operating margin | 9900 | €14,482 | €13,412 | -€1,070 | -7.4% |
| Operating profit (loss) | 9901 | €5,880 | €1,846 | -€4,034 | -68.6% |
| Financial income | 75/76B | €17 | €38 | +€21 | +121.1% |
| Recurring financial income | 75 | €17 | €38 | +€21 | +121.1% |
| Financial charges | 65/66B | €2,857 | €2,594 | -€262 | -9.2% |
| Recurring financial charges | 65 | €2,857 | €2,594 | -€262 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €3,041 | -€710 | -€3,751 | |
| Income taxes | 67/77 | €822 | - | -€822 | |
| Profit (loss) for the period | 9904 | €2,219 | -€710 | -€2,929 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,219 | -€710 | -€2,929 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.