FreLu: 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.
FreLu
Largest movements
- Cash +€57,242
up €57,242 (+157.3%), from €36,399 to €93,641
mainly Net result for the year (+€76,877) and Other debts (+€50,808)
- Receivables within one year -€5,817
down €5,817 (-52.5%), from €11,091 to €5,274
of which Trade receivables: -€3,511
- Tangible fixed assets +€1,597
up €1,597 (+123.7%), from €1,291 to €2,888
of which Furniture and vehicles: +€2,038
- Other debts +€50,808
up €50,808 (+247.4%), from €20,541 to €71,349
- Trade debts -€9,751
down €9,751 (-54.7%), from €17,818 to €8,067
- Reserves +€6,877
up €6,877 (+137.3%), from €5,008 to €11,885
- Tax, wage and social debts +€5,528
up €5,528 (+161.9%), from €3,415 to €8,943
- Gross operating margin +€52,834
up €52,834 (+183.5%), from €28,789 to €81,623
- Taxes +€1,062
up €1,062 (+42.5%), from €2,500 to €3,562
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 | €48,781 | €102,244 | +€53,463 | +109.6% |
| Fixed assets | 21/28 | €1,291 | €2,888 | +€1,597 | +123.7% |
| Tangible fixed assets | 22/27 | €1,291 | €2,888 | +€1,597 | +123.7% |
| Plant, machinery and equipment | 23 | €1,291 | €850 | -€440 | -34.1% |
| Furniture and vehicles | 24 | - | €2,038 | +€2,038 | |
| Current assets | 29/58 | €47,490 | €99,356 | +€51,866 | +109.2% |
| Amounts receivable within one year | 40/41 | €11,091 | €5,274 | -€5,817 | -52.5% |
| Trade receivables | 40 | €8,785 | €5,274 | -€3,511 | -40.0% |
| Other amounts receivable | 41 | €2,307 | - | -€2,307 | |
| Cash at bank and in hand | 54/58 | €36,399 | €93,641 | +€57,242 | +157.3% |
| Deferred charges and accrued income | 490/1 | - | €441 | +€441 | |
| Total equity and liabilities | 10/49 | €48,781 | €102,244 | +€53,463 | +109.6% |
| Equity | 10/15 | €7,008 | €13,885 | +€6,877 | +98.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €5,008 | €11,885 | +€6,877 | +137.3% |
| Distributable reserves | 133 | €5,008 | €11,885 | +€6,877 | +137.3% |
| Amounts payable | 17/49 | €41,773 | €88,359 | +€46,586 | +111.5% |
| Amounts payable within one year | 42/48 | €41,773 | €88,359 | +€46,586 | +111.5% |
| Trade debts | 44 | €17,818 | €8,067 | -€9,751 | -54.7% |
| Suppliers | 440/4 | €17,818 | €8,067 | -€9,751 | -54.7% |
| Taxes, remuneration and social security | 45 | €3,415 | €8,943 | +€5,528 | +161.9% |
| Taxes | 450/3 | €3,415 | €8,943 | +€5,528 | +161.9% |
| Other amounts payable | 47/48 | €20,541 | €71,349 | +€50,808 | +247.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,199 | €1,052 | -€147 | -12.2% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €28,789 | €81,623 | +€52,834 | +183.5% |
| Operating profit (loss) | 9901 | €27,590 | €80,451 | +€52,860 | +191.6% |
| Financial income | 75/76B | €9 | €61 | +€51 | +541.1% |
| Recurring financial income | 75 | €9 | €61 | +€51 | +541.1% |
| Financial charges | 65/66B | €92 | €72 | -€20 | -21.5% |
| Recurring financial charges | 65 | €92 | €72 | -€20 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €27,508 | €80,439 | +€52,931 | +192.4% |
| Income taxes | 67/77 | €2,500 | €3,562 | +€1,062 | +42.5% |
| Profit (loss) for the period | 9904 | €25,008 | €76,877 | +€51,869 | +207.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,008 | €76,877 | +€51,869 | +207.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.