FREMAPUNT: 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.
FREMAPUNT
Largest movements
- Tangible fixed assets +€758,622
up €758,622 (+397%), from €191,217 to €949,839
of which Assets under construction and advance payments: +€467,841
- Cash +€36,536
up €36,536 (+3,105%), from €1,177 to €37,713
mainly Debts after one year (+€633,182) and Other debts (+€145,400)
- Debts after one year +€633,182
up €633,182 (+919%), from €68,913 to €702,095
- Other debts +€145,400
up €145,400 (+238%), from €61,061 to €206,461
- Current portion of long-term debt +€38,500
new in 2025: €38,500
- Trade debts -€18,411
down €18,411 (-53.3%), from €34,573 to €16,162
- Gross operating margin +€20,431
up €20,431, from -€11,574 to €8,857
- Other operating charges -€8,309
down €8,309 (-70.5%), from €11,786 to €3,477
- Depreciation +€6,225
new in 2025: €6,225
- Financial charges +€2,746
up €2,746 (+238%), from €1,154 to €3,901
- Financial income -€640
down €640 (-90.1%), from €711 to €70
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.
Derived cash bridge
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 | €209,912 | €1,003,065 | +€793,152 | +378% |
| Fixed assets | 21/28 | €191,217 | €949,839 | +€758,622 | +397% |
| Tangible fixed assets | 22/27 | €191,217 | €949,839 | +€758,622 | +397% |
| Land and buildings | 22 | €51,499 | €342,280 | +€290,781 | +565% |
| Assets under construction and advance payments | 27 | €139,718 | €607,559 | +€467,841 | +335% |
| Current assets | 29/58 | €18,695 | €53,225 | +€34,530 | +185% |
| Amounts receivable within one year | 40/41 | €16,567 | €15,259 | -€1,308 | -7.9% |
| Trade receivables | 40 | €0 | €299 | +€299 | |
| Other amounts receivable | 41 | €16,567 | €14,960 | -€1,607 | -9.7% |
| Cash at bank and in hand | 54/58 | €1,177 | €37,713 | +€36,536 | +3,105% |
| Deferred charges and accrued income | 490/1 | €952 | €254 | -€699 | -73.4% |
| Total equity and liabilities | 10/49 | €209,912 | €1,003,065 | +€793,152 | +378% |
| Equity | 10/15 | €40,028 | €35,353 | -€4,675 | -11.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,172 | -€32,847 | -€4,675 | -16.6% |
| Amounts payable | 17/49 | €169,884 | €967,711 | +€797,827 | +470% |
| Amounts payable after more than one year | 17 | €68,913 | €702,095 | +€633,182 | +919% |
| Financial debts | 170/4 | €68,913 | €702,095 | +€633,182 | +919% |
| Amounts payable within one year | 42/48 | €95,634 | €261,621 | +€165,987 | +174% |
| Current portion of amounts payable after more than one year | 42 | - | €38,500 | +€38,500 | |
| Trade debts | 44 | €34,573 | €16,162 | -€18,411 | -53.3% |
| Suppliers | 440/4 | €34,573 | €16,162 | -€18,411 | -53.3% |
| Taxes, remuneration and social security | 45 | - | €498 | +€498 | |
| Taxes | 450/3 | - | €498 | +€498 | |
| Other amounts payable | 47/48 | €61,061 | €206,461 | +€145,400 | +238% |
| Accrued charges and deferred income | 492/3 | €5,338 | €3,996 | -€1,342 | -25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,225 | +€6,225 | |
| Other operating charges | 640/8 | €11,786 | €3,477 | -€8,309 | -70.5% |
| Gross operating margin | 9900 | -€11,574 | €8,857 | +€20,431 | |
| Operating profit (loss) | 9901 | -€23,360 | -€845 | +€22,515 | +96.4% |
| Financial income | 75/76B | €711 | €70 | -€640 | -90.1% |
| Recurring financial income | 75 | €711 | €70 | -€640 | -90.1% |
| Financial charges | 65/66B | €1,154 | €3,901 | +€2,746 | +238% |
| Recurring financial charges | 65 | €1,154 | €3,901 | +€2,746 | +238% |
| Profit (loss) for the period before taxes | 9903 | -€23,803 | -€4,675 | +€19,129 | +80.4% |
| Profit (loss) for the period | 9904 | -€23,803 | -€4,675 | +€19,129 | +80.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,803 | -€4,675 | +€19,129 | +80.4% |
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 15 October 2026 via checked.be.