FREMEN: 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.
FREMEN
Largest movements
- Cash -€57,664
down €57,664 (-62.9%), from €91,736 to €34,072
mainly Other debts (-€84,480) and Receivables within one year (-€26,619)
- Receivables within one year +€26,619
up €26,619 (+48.2%), from €55,277 to €81,897
of which Trade receivables: +€25,570
- Tangible fixed assets -€3,425
down €3,425 (-21.6%), from €15,861 to €12,436
of which Furniture and vehicles: -€1,940
- Deferred charges and accrued income -€2,438
down €2,438 (-76.0%), from €3,206 to €768
- Other debts -€84,480
down €84,480 (-69.9%), from €120,881 to €36,400
- Trade debts +€42,369
up €42,369 (+299.2%), from €14,158 to €56,527
- Profit (loss) carried forward +€5,475
new in 2025: €5,475
- Staff costs +€18,741
up €18,741 (+87.6%), from €21,392 to €40,133
- Gross operating margin +€14,679
up €14,679 (+20.6%), from €71,344 to €86,023
- Depreciation +€1,190
up €1,190 (+53.2%), from €2,236 to €3,425
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 | €166,435 | €129,527 | -€36,908 | -22.2% |
| Fixed assets | 21/28 | €16,216 | €12,791 | -€3,425 | -21.1% |
| Tangible fixed assets | 22/27 | €15,861 | €12,436 | -€3,425 | -21.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €4,001 | €2,061 | -€1,940 | -48.5% |
| Other tangible fixed assets | 26 | €11,861 | €10,375 | -€1,486 | -12.5% |
| Financial fixed assets | 28 | €355 | €355 | = | 0.0% |
| Current assets | 29/58 | €150,219 | €116,736 | -€33,483 | -22.3% |
| Amounts receivable within one year | 40/41 | €55,277 | €81,897 | +€26,619 | +48.2% |
| Trade receivables | 40 | €54,036 | €79,605 | +€25,570 | +47.3% |
| Other amounts receivable | 41 | €1,242 | €2,291 | +€1,050 | +84.5% |
| Cash at bank and in hand | 54/58 | €91,736 | €34,072 | -€57,664 | -62.9% |
| Deferred charges and accrued income | 490/1 | €3,206 | €768 | -€2,438 | -76.0% |
| Total equity and liabilities | 10/49 | €166,435 | €129,527 | -€36,908 | -22.2% |
| Equity | 10/15 | €14,476 | €19,951 | +€5,475 | +37.8% |
| Contributions | 10/11 | €14,476 | €14,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €5,475 | +€5,475 | |
| Amounts payable | 17/49 | €151,959 | €109,576 | -€42,383 | -27.9% |
| Amounts payable within one year | 42/48 | €151,959 | €109,498 | -€42,461 | -27.9% |
| Trade debts | 44 | €14,158 | €56,527 | +€42,369 | +299.2% |
| Suppliers | 440/4 | €14,158 | €56,527 | +€42,369 | +299.2% |
| Taxes, remuneration and social security | 45 | €16,920 | €16,571 | -€349 | -2.1% |
| Taxes | 450/3 | €7,618 | €14,718 | +€7,099 | +93.2% |
| Remuneration and social security | 454/9 | €9,302 | €1,853 | -€7,448 | -80.1% |
| Other amounts payable | 47/48 | €120,881 | €36,400 | -€84,480 | -69.9% |
| Accrued charges and deferred income | 492/3 | - | €78 | +€78 | |
| Remuneration, social security and pensions | 62 | €21,392 | €40,133 | +€18,741 | +87.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,236 | €3,425 | +€1,190 | +53.2% |
| Other operating charges | 640/8 | €1,533 | €750 | -€783 | -51.1% |
| Gross operating margin | 9900 | €71,344 | €86,023 | +€14,679 | +20.6% |
| Operating profit (loss) | 9901 | €46,184 | €41,715 | -€4,468 | -9.7% |
| Financial income | 75/76B | €715 | €1,177 | +€462 | +64.6% |
| Recurring financial income | 75 | €715 | €1,177 | +€462 | +64.6% |
| Financial charges | 65/66B | €131 | €220 | +€89 | +67.9% |
| Recurring financial charges | 65 | €131 | €220 | +€89 | +67.9% |
| Profit (loss) for the period before taxes | 9903 | €46,768 | €42,672 | -€4,095 | -8.8% |
| Income taxes | 67/77 | €12,489 | €12,198 | -€291 | -2.3% |
| Profit (loss) for the period | 9904 | €34,279 | €30,475 | -€3,805 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,279 | €30,475 | -€3,805 | -11.1% |
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 7 October 2026 via checked.be.