FRELUC: 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.
FRELUC
Largest movements
- Cash -€20,757
down €20,757 (-60.7%), from €34,180 to €13,423
mainly Net result for the year (-€16,218) and Deferred charges and accrued income (-€4,009)
- Deferred charges and accrued income +€4,009
up €4,009 (+573.9%), from €698 to €4,707
- Tangible fixed assets +€667
up €667 (+7.9%), from €8,405 to €9,072
of which Plant, machinery and equipment: +€1,912
- Profit (loss) carried forward -€12,781
new in 2025: -€12,781
- Reserves -€3,437
down €3,437 (-53.4%), from €6,437 to €3,000
- Gross operating margin -€15,851
down €15,851, from €4,459 to -€11,393
- Other operating charges -€1,078
down €1,078 (-45.3%), from €2,383 to €1,305
- Depreciation +€573
up €573 (+28.9%), from €1,985 to €2,558
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 | €44,386 | €28,488 | -€15,898 | -35.8% |
| Fixed assets | 21/28 | €8,530 | €9,197 | +€667 | +7.8% |
| Tangible fixed assets | 22/27 | €8,405 | €9,072 | +€667 | +7.9% |
| Plant, machinery and equipment | 23 | €3,298 | €5,209 | +€1,912 | +58.0% |
| Other tangible fixed assets | 26 | €5,107 | €3,863 | -€1,244 | -24.4% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €35,856 | €19,291 | -€16,565 | -46.2% |
| Amounts receivable within one year | 40/41 | €978 | €1,161 | +€183 | +18.7% |
| Trade receivables | 40 | €854 | €1,016 | +€162 | +19.0% |
| Other amounts receivable | 41 | €124 | €145 | +€21 | +16.8% |
| Cash at bank and in hand | 54/58 | €34,180 | €13,423 | -€20,757 | -60.7% |
| Deferred charges and accrued income | 490/1 | €698 | €4,707 | +€4,009 | +573.9% |
| Total equity and liabilities | 10/49 | €44,386 | €28,488 | -€15,898 | -35.8% |
| Equity | 10/15 | €36,437 | €20,219 | -€16,218 | -44.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €6,437 | €3,000 | -€3,437 | -53.4% |
| Distributable reserves | 133 | €6,437 | €3,000 | -€3,437 | -53.4% |
| Profit (loss) carried forward | 14 | - | -€12,781 | -€12,781 | |
| Amounts payable | 17/49 | €7,949 | €8,269 | +€320 | +4.0% |
| Amounts payable within one year | 42/48 | €3,275 | €3,269 | -€6 | -0.2% |
| Trade debts | 44 | €921 | €777 | -€144 | -15.7% |
| Suppliers | 440/4 | €921 | €777 | -€144 | -15.7% |
| Other amounts payable | 47/48 | €2,354 | €2,493 | +€138 | +5.9% |
| Accrued charges and deferred income | 492/3 | €4,674 | €5,000 | +€326 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,985 | €2,558 | +€573 | +28.9% |
| Other operating charges | 640/8 | €2,383 | €1,305 | -€1,078 | -45.3% |
| Gross operating margin | 9900 | €4,459 | -€11,393 | -€15,851 | |
| Operating profit (loss) | 9901 | €90 | -€15,256 | -€15,346 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €922 | €962 | +€40 | +4.4% |
| Recurring financial charges | 65 | €922 | €962 | +€40 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€826 | -€16,218 | -€15,392 | -1862.5% |
| Profit (loss) for the period | 9904 | -€826 | -€16,218 | -€15,392 | -1862.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€826 | -€16,218 | -€15,392 | -1862.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.