FREPHILL: 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.
FREPHILL
Largest movements
- Receivables within one year -€22,208
down €22,208 (-14.6%), from €152,251 to €130,044
- Cash +€16,046
up €16,046 (+108.7%), from €14,763 to €30,809
mainly Receivables within one year (+€22,208) and Other debts (+€1,235)
- Reserves -€7,308
down €7,308 (-6.8%), from €108,102 to €100,795
- Gross operating margin -€24,639
down €24,639, from €21,621 to -€3,018
- Taxes -€2,792
no longer reported in 2025 (was €2,792)
- Depreciation -€303
down €303 (-78.7%), from €384 to €82
- Other operating charges -€274
down €274 (-9.9%), from €2,780 to €2,505
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 | €193,873 | €187,635 | -€6,239 | -3.2% |
| Fixed assets | 21/28 | €26,686 | €26,604 | -€82 | -0.3% |
| Tangible fixed assets | 22/27 | €26,686 | €26,604 | -€82 | -0.3% |
| Land and buildings | 22 | €26,686 | €26,604 | -€82 | -0.3% |
| Current assets | 29/58 | €167,188 | €161,031 | -€6,157 | -3.7% |
| Amounts receivable within one year | 40/41 | €152,251 | €130,044 | -€22,208 | -14.6% |
| Other amounts receivable | 41 | €152,251 | €130,044 | -€22,208 | -14.6% |
| Cash at bank and in hand | 54/58 | €14,763 | €30,809 | +€16,046 | +108.7% |
| Deferred charges and accrued income | 490/1 | €174 | €178 | +€5 | +2.9% |
| Total equity and liabilities | 10/49 | €193,873 | €187,635 | -€6,239 | -3.2% |
| Equity | 10/15 | €170,102 | €162,795 | -€7,308 | -4.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €108,102 | €100,795 | -€7,308 | -6.8% |
| Distributable reserves | 133 | €108,102 | €100,795 | -€7,308 | -6.8% |
| Amounts payable | 17/49 | €23,771 | €24,840 | +€1,069 | +4.5% |
| Amounts payable within one year | 42/48 | €22,536 | €23,721 | +€1,185 | +5.3% |
| Taxes, remuneration and social security | 45 | €529 | €479 | -€50 | -9.4% |
| Taxes | 450/3 | €529 | €479 | -€50 | -9.4% |
| Other amounts payable | 47/48 | €22,006 | €23,242 | +€1,235 | +5.6% |
| Accrued charges and deferred income | 492/3 | €1,235 | €1,119 | -€117 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €384 | €82 | -€303 | -78.7% |
| Other operating charges | 640/8 | €2,780 | €2,505 | -€274 | -9.9% |
| Gross operating margin | 9900 | €21,621 | -€3,018 | -€24,639 | |
| Operating profit (loss) | 9901 | €18,457 | -€5,605 | -€24,063 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,867 | €1,703 | -€165 | -8.8% |
| Recurring financial charges | 65 | €1,867 | €1,703 | -€165 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €16,590 | -€7,308 | -€23,898 | |
| Income taxes | 67/77 | €2,792 | - | -€2,792 | |
| Profit (loss) for the period | 9904 | €13,798 | -€7,308 | -€21,106 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,798 | -€7,308 | -€21,106 |
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 2 October 2026 via checked.be.