FREPAR: 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.
FREPAR
Largest movements
- Cash +€7.1m
up €7.1m (+4,848%), from €145,521 to €7.2m
mainly Investment in fixed assets (net) (+€6.2m) and Net result for the year (+€626,631)
- Financial fixed assets -€6.2m
no longer reported in 2025 (was €6.2m)
- Current investments -€347,161
down €347,161 (-4.1%), from €8.5m to €8.2m
- Profit (loss) carried forward +€626,631
up €626,631 (+5.0%), from €12.4m to €13.1m
- Financial income +€825,740
up €825,740 (+127%), from €652,171 to €1.5m
- Financial charges -€124,661
down €124,661, from €87,334 to -€37,328
- Gross operating margin -€64,718
down €64,718 (-560%), from -€11,562 to -€76,280
- Other operating charges -€6,409
down €6,409 (-0.8%), from €818,736 to €812,327
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 | €14,984,921 | €15,613,869 | +€628,948 | +4.2% |
| Fixed assets | 21/28 | €6,174,669 | - | -€6.2m | |
| Financial fixed assets | 28 | €6,174,669 | - | -€6.2m | |
| Current assets | 29/58 | €8,810,251 | €15,613,869 | +€6.8m | +77.2% |
| Amounts receivable within one year | 40/41 | €141,480 | €237,092 | +€95,612 | +67.6% |
| Trade receivables | 40 | - | €237,092 | +€237,092 | |
| Other amounts receivable | 41 | €141,480 | - | -€141,480 | |
| Current investments | 50/53 | €8,523,251 | €8,176,090 | -€347,161 | -4.1% |
| Cash at bank and in hand | 54/58 | €145,521 | €7,200,687 | +€7.1m | +4,848% |
| Total equity and liabilities | 10/49 | €14,984,921 | €15,613,869 | +€628,948 | +4.2% |
| Equity | 10/15 | €14,983,221 | €15,609,851 | +€626,631 | +4.2% |
| Contributions | 10/11 | €2,325,000 | €2,325,000 | = | 0.0% |
| Capital | 10 | €2,325,000 | €2,325,000 | = | 0.0% |
| Issued capital | 100 | €2,325,000 | €2,325,000 | = | 0.0% |
| Reserves | 13 | €232,500 | €232,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €232,500 | €232,500 | = | 0.0% |
| Legal reserve | 130 | €232,500 | €232,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,425,721 | €13,052,351 | +€626,631 | +5.0% |
| Amounts payable | 17/49 | €1,700 | €4,017 | +€2,318 | +136% |
| Amounts payable within one year | 42/48 | €1,700 | €4,017 | +€2,318 | +136% |
| Trade debts | 44 | €1,700 | €4,017 | +€2,318 | +136% |
| Suppliers | 440/4 | €1,700 | €4,017 | +€2,318 | +136% |
| Other operating charges | 640/8 | €818,736 | €812,327 | -€6,409 | -0.8% |
| Gross operating margin | 9900 | -€11,562 | -€76,280 | -€64,718 | -560% |
| Operating profit (loss) | 9901 | -€830,298 | -€888,607 | -€58,310 | -7.0% |
| Financial income | 75/76B | €652,171 | €1,477,910 | +€825,740 | +127% |
| Recurring financial income | 75 | €652,171 | €1,477,910 | +€825,740 | +127% |
| Financial charges | 65/66B | €87,334 | -€37,328 | -€124,661 | |
| Recurring financial charges | 65 | €87,334 | -€37,328 | -€124,661 | |
| Profit (loss) for the period before taxes | 9903 | -€265,461 | €626,631 | +€892,091 | |
| Profit (loss) for the period | 9904 | -€265,461 | €626,631 | +€892,091 | |
| Profit (loss) for the period to be appropriated | 9905 | -€265,461 | €626,631 | +€892,091 |
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 19 October 2026 via checked.be.