Frepe Invest: 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.
Frepe Invest
Largest movements
- Tangible fixed assets -€22,451
down €22,451 (-4.2%), from €538,659 to €516,207
of which Land and buildings: -€25,105
- Receivables within one year -€16,739
down €16,739 (-84.0%), from €19,924 to €3,185
of which Trade receivables: -€17,106
- Cash +€12,215
up €12,215 (+586%), from €2,083 to €14,298
mainly Depreciation (+€27,502) and Receivables within one year (+€16,739)
- Debts after one year -€15,966
down €15,966 (-3.7%), from €432,411 to €416,445
- Current portion of long-term debt +€13,377
up €13,377 (+517%), from €2,589 to €15,966
- Trade debts -€12,365
down €12,365 (-66.2%), from €18,685 to €6,320
- Profit (loss) carried forward -€8,670
down €8,670 (-3,258%), from -€266 to -€8,936
- Gross operating margin +€36,626
up €36,626 (+160%), from €22,903 to €59,529
- Depreciation +€21,318
up €21,318 (+345%), from €6,184 to €27,502
- Staff costs +€17,412
up €17,412 (+643%), from €2,708 to €20,120
- Financial income -€4,459
down €4,459 (-99.0%), from €4,506 to €47
- Other operating charges +€2,372
up €2,372 (+303%), from €783 to €3,155
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 | €565,551 | €538,090 | -€27,461 | -4.9% |
| Formation expenses | 20 | €2,885 | €2,092 | -€793 | -27.5% |
| Fixed assets | 21/28 | €538,659 | €517,385 | -€21,274 | -3.9% |
| Intangible fixed assets | 21 | - | €1,177 | +€1,177 | |
| Tangible fixed assets | 22/27 | €538,659 | €516,207 | -€22,451 | -4.2% |
| Land and buildings | 22 | €538,659 | €513,554 | -€25,105 | -4.7% |
| Plant, machinery and equipment | 23 | - | €2,654 | +€2,654 | |
| Current assets | 29/58 | €24,007 | €18,613 | -€5,394 | -22.5% |
| Stocks and contracts in progress | 3 | - | €1,052 | +€1,052 | |
| Stocks | 30/36 | - | €1,052 | +€1,052 | |
| Amounts receivable within one year | 40/41 | €19,924 | €3,185 | -€16,739 | -84.0% |
| Trade receivables | 40 | €19,920 | €2,814 | -€17,106 | -85.9% |
| Other amounts receivable | 41 | €4 | €372 | +€367 | +8,249% |
| Cash at bank and in hand | 54/58 | €2,083 | €14,298 | +€12,215 | +586% |
| Deferred charges and accrued income | 490/1 | €2,000 | €78 | -€1,922 | -96.1% |
| Total equity and liabilities | 10/49 | €565,551 | €538,090 | -€27,461 | -4.9% |
| Equity | 10/15 | €99,734 | €91,064 | -€8,670 | -8.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€266 | -€8,936 | -€8,670 | -3,258% |
| Amounts payable | 17/49 | €465,817 | €447,026 | -€18,791 | -4.0% |
| Amounts payable after more than one year | 17 | €432,411 | €416,445 | -€15,966 | -3.7% |
| Financial debts | 170/4 | €432,411 | €416,445 | -€15,966 | -3.7% |
| Amounts payable within one year | 42/48 | €30,504 | €29,294 | -€1,210 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €2,589 | €15,966 | +€13,377 | +517% |
| Trade debts | 44 | €18,685 | €6,320 | -€12,365 | -66.2% |
| Suppliers | 440/4 | €18,685 | €6,320 | -€12,365 | -66.2% |
| Advances received on contracts in progress | 46 | - | €717 | +€717 | |
| Taxes, remuneration and social security | 45 | €5,257 | €1,879 | -€3,378 | -64.3% |
| Taxes | 450/3 | €3,627 | €329 | -€3,298 | -90.9% |
| Remuneration and social security | 454/9 | €1,630 | €1,550 | -€80 | -4.9% |
| Other amounts payable | 47/48 | €3,973 | €4,412 | +€439 | +11.1% |
| Accrued charges and deferred income | 492/3 | €2,902 | €1,286 | -€1,615 | -55.7% |
| Remuneration, social security and pensions | 62 | €2,708 | €20,120 | +€17,412 | +643% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,184 | €27,502 | +€21,318 | +345% |
| Other operating charges | 640/8 | €783 | €3,155 | +€2,372 | +303% |
| Gross operating margin | 9900 | €22,903 | €59,529 | +€36,626 | +160% |
| Operating profit (loss) | 9901 | €13,229 | €8,752 | -€4,477 | -33.8% |
| Financial income | 75/76B | €4,506 | €47 | -€4,459 | -99.0% |
| Recurring financial income | 75 | €4,506 | €47 | -€4,459 | -99.0% |
| Financial charges | 65/66B | €18,001 | €17,468 | -€533 | -3.0% |
| Recurring financial charges | 65 | €18,001 | €17,468 | -€533 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | -€266 | -€8,670 | -€8,404 | -3,158% |
| Profit (loss) for the period | 9904 | -€266 | -€8,670 | -€8,404 | -3,158% |
| Profit (loss) for the period to be appropriated | 9905 | -€266 | -€8,670 | -€8,404 | -3,158% |
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 28 October 2026 via checked.be.