FREMAN: 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.
FREMAN
Largest movements
- Cash +€102,036
up €102,036 (+393.8%), from €25,910 to €127,946
mainly Stocks and contracts (+€81,528) and Investment in fixed assets (net) (+€12,002)
- Stocks and contracts -€81,528
no longer reported in 2025 (was €81,528)
- Tangible fixed assets -€12,002
no longer reported in 2025 (was €12,002)
- Reserves +€6,229
up €6,229 (+6.7%), from €93,559 to €99,787
- Other debts +€1,616
up €1,616 (+49.3%), from €3,278 to €4,895
- Gross operating margin -€4,011
down €4,011 (-27.7%), from €14,491 to €10,481
- Depreciation -€3,397
no longer reported in 2025 (was €3,397)
- Financial charges -€2,279
down €2,279 (-70.2%), from €3,247 to €969
- Financial income -€1,070
down €1,070 (-80.5%), from €1,330 to €260
- Taxes +€1,059
new in 2025: €1,059
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 | €119,620 | €127,946 | +€8,327 | +7.0% |
| Fixed assets | 21/28 | €12,002 | - | -€12,002 | |
| Tangible fixed assets | 22/27 | €12,002 | - | -€12,002 | |
| Furniture and vehicles | 24 | €12,002 | - | -€12,002 | |
| Current assets | 29/58 | €107,618 | €127,946 | +€20,328 | +18.9% |
| Stocks and contracts in progress | 3 | €81,528 | - | -€81,528 | |
| Stocks | 30/36 | €81,528 | - | -€81,528 | |
| Amounts receivable within one year | 40/41 | €180 | - | -€180 | |
| Other amounts receivable | 41 | €180 | - | -€180 | |
| Cash at bank and in hand | 54/58 | €25,910 | €127,946 | +€102,036 | +393.8% |
| Total equity and liabilities | 10/49 | €119,620 | €127,946 | +€8,327 | +7.0% |
| Equity | 10/15 | €113,559 | €119,787 | +€6,229 | +5.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €93,559 | €99,787 | +€6,229 | +6.7% |
| Distributable reserves | 133 | €93,559 | €99,787 | +€6,229 | +6.7% |
| Amounts payable | 17/49 | €6,061 | €8,159 | +€2,098 | +34.6% |
| Amounts payable within one year | 42/48 | €4,778 | €6,876 | +€2,098 | +43.9% |
| Trade debts | 44 | €1,500 | €1,000 | -€500 | -33.3% |
| Suppliers | 440/4 | €1,500 | €1,000 | -€500 | -33.3% |
| Taxes, remuneration and social security | 45 | - | €981 | +€981 | |
| Taxes | 450/3 | - | €981 | +€981 | |
| Other amounts payable | 47/48 | €3,278 | €4,895 | +€1,616 | +49.3% |
| Accrued charges and deferred income | 492/3 | €1,283 | €1,283 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,397 | - | -€3,397 | |
| Other operating charges | 640/8 | €2,774 | €2,484 | -€290 | -10.5% |
| Gross operating margin | 9900 | €14,491 | €10,481 | -€4,011 | -27.7% |
| Operating profit (loss) | 9901 | €8,320 | €7,997 | -€323 | -3.9% |
| Financial income | 75/76B | €1,330 | €260 | -€1,070 | -80.5% |
| Recurring financial income | 75 | €1,330 | €260 | -€1,070 | -80.5% |
| Financial charges | 65/66B | €3,247 | €969 | -€2,279 | -70.2% |
| Recurring financial charges | 65 | €3,247 | €969 | -€2,279 | -70.2% |
| Profit (loss) for the period before taxes | 9903 | €6,402 | €7,288 | +€886 | +13.8% |
| Income taxes | 67/77 | - | €1,059 | +€1,059 | |
| Profit (loss) for the period | 9904 | €6,402 | €6,229 | -€173 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,402 | €6,229 | -€173 | -2.7% |
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 12 October 2026 via checked.be.