FREP IMMO: 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.
FREP IMMO
Largest movements
- Receivables within one year -€161,854
down €161,854 (-62.2%), from €260,319 to €98,464
of which Trade receivables: -€147,426
- Stocks and contracts +€29,000
new in 2025: €29,000
- Tangible fixed assets +€15,611
up €15,611 (+63.1%), from €24,722 to €40,332
of which Furniture and vehicles: +€8,465
- Deferred charges and accrued income -€5,136
no longer reported in 2025 (was €5,136)
- Other debts -€194,391
down €194,391 (-95.5%), from €203,565 to €9,173
- Trade debts +€70,936
up €70,936 (+94.0%), from €75,466 to €146,403
- Tax, wage and social debts +€14,183
up €14,183 (+144.6%), from €9,807 to €23,991
of which Remuneration and social security: +€14,000
- Revaluation surpluses -€6,977
no longer reported in 2025 (was €6,977)
- Profit (loss) carried forward -€6,029
down €6,029 (-9.8%), from -€61,662 to -€67,691
- Staff costs +€55,657
up €55,657 (+32.2%), from €172,589 to €228,245
- Gross operating margin +€52,127
up €52,127 (+30.4%), from €171,595 to €223,722
- Financial income +€5,944
up €5,944 (+2377700.0%), from €0 to €5,945
of which Non-recurring financial income: +€5,944
- Financial charges -€2,505
down €2,505 (-61.4%), from €4,083 to €1,577
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 | €295,715 | €173,438 | -€122,278 | -41.3% |
| Fixed assets | 21/28 | €24,927 | €40,537 | +€15,611 | +62.6% |
| Tangible fixed assets | 22/27 | €24,722 | €40,332 | +€15,611 | +63.1% |
| Land and buildings | 22 | €9,198 | €12,289 | +€3,091 | +33.6% |
| Plant, machinery and equipment | 23 | €13,451 | €17,505 | +€4,055 | +30.1% |
| Furniture and vehicles | 24 | €2,073 | €10,538 | +€8,465 | +408.3% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €270,789 | €132,900 | -€137,888 | -50.9% |
| Stocks and contracts in progress | 3 | - | €29,000 | +€29,000 | |
| Stocks | 30/36 | - | €29,000 | +€29,000 | |
| Amounts receivable within one year | 40/41 | €260,319 | €98,464 | -€161,854 | -62.2% |
| Trade receivables | 40 | €239,797 | €92,371 | -€147,426 | -61.5% |
| Other amounts receivable | 41 | €20,522 | €6,093 | -€14,429 | -70.3% |
| Cash at bank and in hand | 54/58 | €5,334 | €5,436 | +€102 | +1.9% |
| Deferred charges and accrued income | 490/1 | €5,136 | - | -€5,136 | |
| Total equity and liabilities | 10/49 | €295,715 | €173,438 | -€122,278 | -41.3% |
| Equity | 10/15 | €6,877 | -€6,129 | -€13,006 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €6,977 | - | -€6,977 | |
| Reserves | 13 | €62 | €62 | = | 0.0% |
| Non-distributable reserves | 130/1 | €62 | €62 | = | 0.0% |
| Legal reserve | 130 | €62 | €62 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,662 | -€67,691 | -€6,029 | -9.8% |
| Amounts payable | 17/49 | €288,838 | €179,567 | -€109,272 | -37.8% |
| Amounts payable within one year | 42/48 | €288,838 | €179,567 | -€109,272 | -37.8% |
| Trade debts | 44 | €75,466 | €146,403 | +€70,936 | +94.0% |
| Suppliers | 440/4 | €75,466 | €146,403 | +€70,936 | +94.0% |
| Taxes, remuneration and social security | 45 | €9,807 | €23,991 | +€14,183 | +144.6% |
| Taxes | 450/3 | €70 | €253 | +€183 | +263.3% |
| Remuneration and social security | 454/9 | €9,738 | €23,738 | +€14,000 | +143.8% |
| Other amounts payable | 47/48 | €203,565 | €9,173 | -€194,391 | -95.5% |
| Remuneration, social security and pensions | 62 | €172,589 | €228,245 | +€55,657 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,423 | €4,422 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,307 | €1,451 | -€856 | -37.1% |
| Gross operating margin | 9900 | €171,595 | €223,722 | +€52,127 | +30.4% |
| Operating profit (loss) | 9901 | -€7,723 | -€10,397 | -€2,674 | -34.6% |
| Financial income | 75/76B | €0 | €5,945 | +€5,944 | +2377700.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -88.0% |
| Non-recurring financial income | 76B | - | €5,944 | +€5,944 | |
| Financial charges | 65/66B | €4,083 | €1,577 | -€2,505 | -61.4% |
| Recurring financial charges | 65 | €4,083 | €1,577 | -€2,505 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,805 | -€6,029 | +€5,776 | +48.9% |
| Profit (loss) for the period | 9904 | -€11,805 | -€6,029 | +€5,776 | +48.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,805 | -€6,029 | +€5,776 | +48.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.