FREMAVAL: 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.
FREMAVAL
Largest movements
- Tangible fixed assets +€4,978
up €4,978 (+2.3%), from €213,726 to €218,704
of which Furniture and vehicles: +€12,345
- Debts after one year -€6,745
down €6,745 (-22.6%), from €29,856 to €23,111
- Reserves +€6,412
up €6,412 (+28.6%), from €22,428 to €28,840
- Other debts +€3,748
up €3,748 (+2.7%), from €138,465 to €142,213
- Gross operating margin -€3,077
down €3,077 (-10.1%), from €30,368 to €27,291
- Depreciation -€2,595
down €2,595 (-18.5%), from €14,035 to €11,440
- Taxes -€1,261
down €1,261 (-21.3%), from €5,916 to €4,656
- Other operating charges +€806
up €806 (+28.4%), from €2,839 to €3,646
- Financial charges +€407
up €407 (+55.7%), from €731 to €1,138
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 | €222,592 | €226,406 | +€3,814 | +1.7% |
| Fixed assets | 21/28 | €213,726 | €218,704 | +€4,978 | +2.3% |
| Tangible fixed assets | 22/27 | €213,726 | €218,704 | +€4,978 | +2.3% |
| Land and buildings | 22 | €203,086 | €195,819 | -€7,268 | -3.6% |
| Plant, machinery and equipment | 23 | €317 | €218 | -€99 | -31.3% |
| Furniture and vehicles | 24 | €10,323 | €22,668 | +€12,345 | +120% |
| Current assets | 29/58 | €8,866 | €7,702 | -€1,165 | -13.1% |
| Amounts receivable within one year | 40/41 | €8,725 | €7,702 | -€1,024 | -11.7% |
| Trade receivables | 40 | €5,523 | €3,796 | -€1,727 | -31.3% |
| Other amounts receivable | 41 | €3,202 | €3,905 | +€703 | +22.0% |
| Cash at bank and in hand | 54/58 | €141 | €0 | -€141 | -100% |
| Total equity and liabilities | 10/49 | €222,592 | €226,406 | +€3,814 | +1.7% |
| Equity | 10/15 | €29,139 | €35,551 | +€6,412 | +22.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,428 | €28,840 | +€6,412 | +28.6% |
| Distributable reserves | 133 | €22,428 | €28,840 | +€6,412 | +28.6% |
| Profit (loss) carried forward | 14 | €511 | €511 | = | 0.0% |
| Amounts payable | 17/49 | €193,453 | €190,855 | -€2,598 | -1.3% |
| Amounts payable after more than one year | 17 | €29,856 | €23,111 | -€6,745 | -22.6% |
| Financial debts | 170/4 | €29,856 | €23,111 | -€6,745 | -22.6% |
| Amounts payable within one year | 42/48 | €161,747 | €165,894 | +€4,147 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €16,437 | €18,598 | +€2,161 | +13.1% |
| Financial debts | 43 | - | €427 | +€427 | |
| Credit institutions | 430/8 | - | €427 | +€427 | |
| Taxes, remuneration and social security | 45 | €6,846 | €4,656 | -€2,190 | -32.0% |
| Taxes | 450/3 | €6,846 | €4,656 | -€2,190 | -32.0% |
| Other amounts payable | 47/48 | €138,465 | €142,213 | +€3,748 | +2.7% |
| Accrued charges and deferred income | 492/3 | €1,850 | €1,850 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,035 | €11,440 | -€2,595 | -18.5% |
| Other operating charges | 640/8 | €2,839 | €3,646 | +€806 | +28.4% |
| Gross operating margin | 9900 | €30,368 | €27,291 | -€3,077 | -10.1% |
| Operating profit (loss) | 9901 | €13,494 | €12,205 | -€1,288 | -9.5% |
| Financial income | 75/76B | €1 | €1 | -€0 | -29.6% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -29.6% |
| Financial charges | 65/66B | €731 | €1,138 | +€407 | +55.7% |
| Recurring financial charges | 65 | €731 | €1,138 | +€407 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €12,764 | €11,068 | -€1,696 | -13.3% |
| Income taxes | 67/77 | €5,916 | €4,656 | -€1,261 | -21.3% |
| Profit (loss) for the period | 9904 | €6,847 | €6,412 | -€435 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,847 | €6,412 | -€435 | -6.4% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.