Fremmax: 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.
Fremmax
Largest movements
- Receivables within one year +€292,267
up €292,267 (+80.6%), from €362,434 to €654,700
of which Other amounts receivable: +€264,438
- Tangible fixed assets -€126,983
down €126,983 (-4.5%), from €2.8m to €2.7m
of which Land and buildings: -€201,294
- Cash -€104,665
down €104,665 (-21.7%), from €482,292 to €377,627
mainly Receivables within one year (-€292,267) and Debts after one year (-€199,565)
- Debts after one year -€199,565
down €199,565 (-20.4%), from €979,801 to €780,236
- Other debts +€138,500
up €138,500 (+14.7%), from €945,004 to €1.1m
- Reserves +€106,893
up €106,893 (+9.3%), from €1.1m to €1.3m
of which Distributable reserves: +€106,893
- Financial income -€236,603
down €236,603 (-91.6%), from €258,307 to €21,704
of which Non-recurring financial income: -€246,197
- Financial charges +€84,542
up €84,542 (+146%), from €57,817 to €142,359
of which Non-recurring financial charges: +€82,021
- Taxes -€64,432
down €64,432 (-61.1%), from €105,501 to €41,069
- Other operating charges +€26,685
up €26,685 (+674%), from €3,958 to €30,642
- Gross operating margin +€6,375
up €6,375 (+1.5%), from €435,437 to €441,812
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 | €6,138,705 | €6,203,264 | +€64,559 | +1.1% |
| Fixed assets | 21/28 | €5,029,492 | €4,900,508 | -€128,983 | -2.6% |
| Tangible fixed assets | 22/27 | €2,848,422 | €2,721,438 | -€126,983 | -4.5% |
| Land and buildings | 22 | €2,752,811 | €2,551,517 | -€201,294 | -7.3% |
| Plant, machinery and equipment | 23 | €78,639 | €67,556 | -€11,082 | -14.1% |
| Furniture and vehicles | 24 | €16,972 | €102,365 | +€85,393 | +503% |
| Financial fixed assets | 28 | €2,181,070 | €2,179,070 | -€2,000 | -0.1% |
| Current assets | 29/58 | €1,109,213 | €1,302,756 | +€193,543 | +17.4% |
| Amounts receivable within one year | 40/41 | €362,434 | €654,700 | +€292,267 | +80.6% |
| Trade receivables | 40 | €70,718 | €98,547 | +€27,829 | +39.4% |
| Other amounts receivable | 41 | €291,715 | €556,153 | +€264,438 | +90.6% |
| Current investments | 50/53 | €250,591 | €253,751 | +€3,160 | +1.3% |
| Cash at bank and in hand | 54/58 | €482,292 | €377,627 | -€104,665 | -21.7% |
| Deferred charges and accrued income | 490/1 | €13,897 | €16,677 | +€2,781 | +20.0% |
| Total equity and liabilities | 10/49 | €6,138,705 | €6,203,264 | +€64,559 | +1.1% |
| Equity | 10/15 | €3,966,771 | €4,073,664 | +€106,893 | +2.7% |
| Contributions | 10/11 | €2,822,803 | €2,822,803 | = | 0.0% |
| Reserves | 13 | €1,143,968 | €1,250,861 | +€106,893 | +9.3% |
| Tax-exempt reserves | 132 | €30,691 | €30,691 | = | 0.0% |
| Distributable reserves | 133 | €1,113,277 | €1,220,170 | +€106,893 | +9.6% |
| Amounts payable | 17/49 | €2,171,934 | €2,129,600 | -€42,334 | -1.9% |
| Amounts payable after more than one year | 17 | €979,801 | €780,236 | -€199,565 | -20.4% |
| Financial debts | 170/4 | €979,801 | €780,236 | -€199,565 | -20.4% |
| Amounts payable within one year | 42/48 | €1,172,608 | €1,318,145 | +€145,538 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €195,263 | €199,565 | +€4,303 | +2.2% |
| Financial debts | 43 | €10,833 | €10,833 | = | 0.0% |
| Credit institutions | 430/8 | €10,833 | €10,833 | = | 0.0% |
| Trade debts | 44 | €19,524 | €24,243 | +€4,719 | +24.2% |
| Suppliers | 440/4 | €19,524 | €24,243 | +€4,719 | +24.2% |
| Taxes, remuneration and social security | 45 | €1,984 | €0 | -€1,984 | -100% |
| Taxes | 450/3 | €1,984 | €0 | -€1,984 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €945,004 | €1,083,504 | +€138,500 | +14.7% |
| Accrued charges and deferred income | 492/3 | €19,525 | €31,219 | +€11,694 | +59.9% |
| Non-recurring operating income | 76A | €500 | €26,340 | +€25,840 | +5,168% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,893 | €142,553 | -€6,340 | -4.3% |
| Other operating charges | 640/8 | €3,958 | €30,642 | +€26,685 | +674% |
| Gross operating margin | 9900 | €435,437 | €441,812 | +€6,375 | +1.5% |
| Operating profit (loss) | 9901 | €282,587 | €268,617 | -€13,969 | -4.9% |
| Financial income | 75/76B | €258,307 | €21,704 | -€236,603 | -91.6% |
| Recurring financial income | 75 | €12,110 | €21,704 | +€9,594 | +79.2% |
| Non-recurring financial income | 76B | €246,197 | €0 | -€246,197 | -100% |
| Financial charges | 65/66B | €57,817 | €142,359 | +€84,542 | +146% |
| Recurring financial charges | 65 | €57,817 | €60,338 | +€2,521 | +4.4% |
| Non-recurring financial charges | 66B | - | €82,021 | +€82,021 | |
| Profit (loss) for the period before taxes | 9903 | €483,076 | €147,962 | -€335,114 | -69.4% |
| Income taxes | 67/77 | €105,501 | €41,069 | -€64,432 | -61.1% |
| Profit (loss) for the period | 9904 | €377,575 | €106,893 | -€270,682 | -71.7% |
| Profit (loss) for the period to be appropriated | 9905 | €377,575 | €106,893 | -€270,682 | -71.7% |
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 24 October 2026 via checked.be.