FREMAT: 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.
FREMAT
Largest movements
- Cash +€65,626
up €65,626 (+114.3%), from €57,402 to €123,028
mainly Net result for the year (+€42,477) and Depreciation (+€38,576)
- Tangible fixed assets -€38,576
down €38,576 (-18.5%), from €207,989 to €169,413
of which Plant, machinery and equipment: -€29,171
- Receivables after one year +€9,640
up €9,640 (+5.6%), from €173,065 to €182,705
- Profit (loss) carried forward +€42,477
up €42,477 (+24.0%), from -€176,624 to -€134,147
- Gross operating margin +€19,143
up €19,143 (+28.8%), from €66,568 to €85,711
- Depreciation -€8,200
down €8,200 (-17.5%), from €46,776 to €38,576
- Financial charges +€1,169
up €1,169 (+148.1%), from €790 to €1,959
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 | €448,737 | €481,729 | +€32,992 | +7.4% |
| Fixed assets | 21/28 | €207,989 | €169,413 | -€38,576 | -18.5% |
| Tangible fixed assets | 22/27 | €207,989 | €169,413 | -€38,576 | -18.5% |
| Land and buildings | 22 | €77,856 | €75,674 | -€2,182 | -2.8% |
| Plant, machinery and equipment | 23 | €116,377 | €87,205 | -€29,171 | -25.1% |
| Furniture and vehicles | 24 | €1,784 | €1,278 | -€506 | -28.3% |
| Leasing and similar rights | 25 | €11,972 | €5,255 | -€6,717 | -56.1% |
| Current assets | 29/58 | €240,748 | €312,316 | +€71,569 | +29.7% |
| Amounts receivable after more than one year | 29 | €173,065 | €182,705 | +€9,640 | +5.6% |
| Other amounts receivable | 291 | €173,065 | €182,705 | +€9,640 | +5.6% |
| Amounts receivable within one year | 40/41 | €10,280 | €6,584 | -€3,697 | -36.0% |
| Trade receivables | 40 | €10,280 | €6,584 | -€3,697 | -36.0% |
| Cash at bank and in hand | 54/58 | €57,402 | €123,028 | +€65,626 | +114.3% |
| Total equity and liabilities | 10/49 | €448,737 | €481,729 | +€32,992 | +7.4% |
| Equity | 10/15 | €426,431 | €468,908 | +€42,477 | +10.0% |
| Contributions | 10/11 | €580,071 | €580,071 | = | 0.0% |
| Capital | 10 | €580,071 | €580,071 | = | 0.0% |
| Issued capital | 100 | €580,071 | €580,071 | = | 0.0% |
| Reserves | 13 | €22,984 | €22,984 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,984 | €22,984 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,984 | €22,984 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€176,624 | -€134,147 | +€42,477 | +24.0% |
| Amounts payable | 17/49 | €22,306 | €12,821 | -€9,485 | -42.5% |
| Amounts payable after more than one year | 17 | €3,835 | - | -€3,835 | |
| Financial debts | 170/4 | €3,835 | - | -€3,835 | |
| Amounts payable within one year | 42/48 | €18,172 | €12,821 | -€5,351 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €7,095 | €3,835 | -€3,260 | -45.9% |
| Trade debts | 44 | €2,091 | - | -€2,091 | |
| Suppliers | 440/4 | €2,091 | - | -€2,091 | |
| Advances received on contracts in progress | 46 | €8,986 | €8,986 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €299 | - | -€299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,776 | €38,576 | -€8,200 | -17.5% |
| Other operating charges | 640/8 | €2,877 | €2,698 | -€179 | -6.2% |
| Gross operating margin | 9900 | €66,568 | €85,711 | +€19,143 | +28.8% |
| Operating profit (loss) | 9901 | €16,915 | €44,436 | +€27,521 | +162.7% |
| Financial charges | 65/66B | €790 | €1,959 | +€1,169 | +148.1% |
| Recurring financial charges | 65 | €790 | €1,959 | +€1,169 | +148.1% |
| Profit (loss) for the period before taxes | 9903 | €16,126 | €42,477 | +€26,352 | +163.4% |
| Profit (loss) for the period | 9904 | €16,126 | €42,477 | +€26,352 | +163.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,126 | €42,477 | +€26,352 | +163.4% |
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 29 September 2026 via checked.be.