FREMA: 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.
FREMA
Largest movements
- Cash +€24,632
up €24,632 (+18.4%), from €134,018 to €158,651
mainly Other debts (+€28,532) and Depreciation (+€12,661)
- Tangible fixed assets -€11,588
down €11,588 (-28.8%), from €40,279 to €28,691
of which Furniture and vehicles: -€11,428
- Other debts +€28,532
up €28,532 (+800.0%), from €3,567 to €32,099
- Reserves -€21,100
down €21,100 (-24.6%), from €85,659 to €64,559
- Trade debts +€7,640
up €7,640 (+2084.6%), from €366 to €8,006
- Tax, wage and social debts -€4,168
down €4,168 (-27.3%), from €15,265 to €11,097
of which Taxes: -€2,600
- Gross operating margin +€3,977
up €3,977 (+3.2%), from €124,440 to €128,417
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 | €199,010 | €210,124 | +€11,114 | +5.6% |
| Fixed assets | 21/28 | €40,279 | €28,691 | -€11,588 | -28.8% |
| Tangible fixed assets | 22/27 | €40,279 | €28,691 | -€11,588 | -28.8% |
| Plant, machinery and equipment | 23 | €252 | €92 | -€160 | -63.4% |
| Furniture and vehicles | 24 | €40,027 | €28,599 | -€11,428 | -28.6% |
| Current assets | 29/58 | €158,732 | €181,433 | +€22,701 | +14.3% |
| Amounts receivable within one year | 40/41 | €23,110 | €21,108 | -€2,002 | -8.7% |
| Trade receivables | 40 | €16,714 | €18,081 | +€1,367 | +8.2% |
| Other amounts receivable | 41 | €6,396 | €3,027 | -€3,369 | -52.7% |
| Cash at bank and in hand | 54/58 | €134,018 | €158,651 | +€24,632 | +18.4% |
| Deferred charges and accrued income | 490/1 | €1,603 | €1,674 | +€71 | +4.4% |
| Total equity and liabilities | 10/49 | €199,010 | €210,124 | +€11,114 | +5.6% |
| Equity | 10/15 | €179,474 | €158,483 | -€20,991 | -11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,659 | €64,559 | -€21,100 | -24.6% |
| Distributable reserves | 133 | €85,659 | €64,559 | -€21,100 | -24.6% |
| Profit (loss) carried forward | 14 | €75,215 | €75,324 | +€109 | +0.1% |
| Amounts payable | 17/49 | €19,537 | €51,641 | +€32,104 | +164.3% |
| Amounts payable within one year | 42/48 | €19,537 | €51,546 | +€32,009 | +163.8% |
| Current portion of amounts payable after more than one year | 42 | €338 | €344 | +€6 | +1.7% |
| Trade debts | 44 | €366 | €8,006 | +€7,640 | +2084.6% |
| Suppliers | 440/4 | €366 | €8,006 | +€7,640 | +2084.6% |
| Taxes, remuneration and social security | 45 | €15,265 | €11,097 | -€4,168 | -27.3% |
| Taxes | 450/3 | €3,899 | €1,299 | -€2,600 | -66.7% |
| Remuneration and social security | 454/9 | €11,366 | €9,798 | -€1,568 | -13.8% |
| Other amounts payable | 47/48 | €3,567 | €32,099 | +€28,532 | +800.0% |
| Accrued charges and deferred income | 492/3 | - | €95 | +€95 | |
| Remuneration, social security and pensions | 62 | €104,318 | €105,145 | +€827 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,204 | €12,661 | -€543 | -4.1% |
| Other operating charges | 640/8 | €892 | €904 | +€12 | +1.3% |
| Gross operating margin | 9900 | €124,440 | €128,417 | +€3,977 | +3.2% |
| Operating profit (loss) | 9901 | €6,026 | €9,708 | +€3,682 | +61.1% |
| Financial income | 75/76B | €326 | €836 | +€510 | +156.2% |
| Recurring financial income | 75 | €326 | €836 | +€510 | +156.2% |
| Financial charges | 65/66B | €190 | €282 | +€91 | +48.1% |
| Recurring financial charges | 65 | €190 | €282 | +€91 | +48.1% |
| Profit (loss) for the period before taxes | 9903 | €6,162 | €10,262 | +€4,100 | +66.5% |
| Income taxes | 67/77 | €2,229 | €3,253 | +€1,024 | +45.9% |
| Profit (loss) for the period | 9904 | €3,933 | €7,009 | +€3,076 | +78.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €3,933 | €7,009 | +€3,076 | +78.2% |
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 30 September 2026 via checked.be.