FREPI: 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.
FREPI
Largest movements
- Tangible fixed assets -€33,517
down €33,517 (-9.3%), from €362,092 to €328,575
of which Land and buildings: -€32,863
- Receivables within one year +€5,620
up €5,620 (+8.4%), from €66,569 to €72,189
of which Other amounts receivable: +€5,620
- Cash -€4,863
down €4,863 (-16.8%), from €29,000 to €24,137
mainly Trade debts (-€18,833) and Debts after one year (-€16,995)
- Profit (loss) carried forward +€20,314
up €20,314, from -€792 to €19,522
- Trade debts -€18,833
down €18,833 (-80.1%), from €23,524 to €4,691
- Debts after one year -€16,995
down €16,995 (-7.5%), from €228,041 to €211,046
- Current portion of long-term debt -€7,537
down €7,537 (-29.1%), from €25,893 to €18,356
- Reserves -€6,181
down €6,181 (-6.0%), from €103,266 to €97,086
- Gross operating margin +€15,212
up €15,212 (+41.8%), from €36,380 to €51,592
- Taxes +€5,165
up €5,165 (+17217.0%), from €30 to €5,195
- Financial charges -€2,822
down €2,822, from €2,703 to -€120
- Depreciation -€1,942
down €1,942 (-5.5%), from €35,459 to €33,517
- Other operating charges -€766
down €766 (-11.3%), from €6,762 to €5,996
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €465,915 | €435,481 | -€30,434 | -6.5% |
| Fixed assets | 21/28 | €362,092 | €329,375 | -€32,717 | -9.0% |
| Tangible fixed assets | 22/27 | €362,092 | €328,575 | -€33,517 | -9.3% |
| Land and buildings | 22 | €360,152 | €327,288 | -€32,863 | -9.1% |
| Plant, machinery and equipment | 23 | €1,460 | €1,148 | -€311 | -21.3% |
| Furniture and vehicles | 24 | €480 | €138 | -€343 | -71.3% |
| Financial fixed assets | 28 | - | €800 | +€800 | |
| Current assets | 29/58 | €103,823 | €106,107 | +€2,284 | +2.2% |
| Amounts receivable within one year | 40/41 | €66,569 | €72,189 | +€5,620 | +8.4% |
| Trade receivables | 40 | €4,406 | €4,406 | = | 0.0% |
| Other amounts receivable | 41 | €62,163 | €67,783 | +€5,620 | +9.0% |
| Current investments | 50/53 | €7,890 | €9,380 | +€1,490 | +18.9% |
| Cash at bank and in hand | 54/58 | €29,000 | €24,137 | -€4,863 | -16.8% |
| Deferred charges and accrued income | 490/1 | €364 | €400 | +€37 | +10.1% |
| Total equity and liabilities | 10/49 | €465,915 | €435,481 | -€30,434 | -6.5% |
| Equity | 10/15 | €108,674 | €122,808 | +€14,134 | +13.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €103,266 | €97,086 | -€6,181 | -6.0% |
| Tax-exempt reserves | 132 | €103,266 | €97,086 | -€6,181 | -6.0% |
| Profit (loss) carried forward | 14 | -€792 | €19,522 | +€20,314 | |
| Provisions and deferred taxes | 16 | €53,174 | €49,992 | -€3,183 | -6.0% |
| Deferred taxes | 168 | €53,174 | €49,992 | -€3,183 | -6.0% |
| Amounts payable | 17/49 | €304,066 | €262,682 | -€41,384 | -13.6% |
| Amounts payable after more than one year | 17 | €228,041 | €211,046 | -€16,995 | -7.5% |
| Financial debts | 170/4 | €228,041 | €211,046 | -€16,995 | -7.5% |
| Amounts payable within one year | 42/48 | €69,659 | €49,659 | -€20,000 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €25,893 | €18,356 | -€7,537 | -29.1% |
| Trade debts | 44 | €23,524 | €4,691 | -€18,833 | -80.1% |
| Suppliers | 440/4 | €23,524 | €4,691 | -€18,833 | -80.1% |
| Taxes, remuneration and social security | 45 | - | €5,000 | +€5,000 | |
| Taxes | 450/3 | - | €5,000 | +€5,000 | |
| Other amounts payable | 47/48 | €20,243 | €21,613 | +€1,370 | +6.8% |
| Accrued charges and deferred income | 492/3 | €6,366 | €1,977 | -€4,389 | -68.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,459 | €33,517 | -€1,942 | -5.5% |
| Other operating charges | 640/8 | €6,762 | €5,996 | -€766 | -11.3% |
| Non-recurring operating charges | 66A | €1,180 | - | -€1,180 | |
| Gross operating margin | 9900 | €36,380 | €51,592 | +€15,212 | +41.8% |
| Operating profit (loss) | 9901 | -€7,021 | €12,079 | +€19,100 | |
| Financial income | 75/76B | €3,587 | €3,948 | +€361 | +10.1% |
| Recurring financial income | 75 | €3,587 | €3,948 | +€361 | +10.1% |
| Financial charges | 65/66B | €2,703 | -€120 | -€2,822 | |
| Recurring financial charges | 65 | €2,703 | -€120 | -€2,822 | |
| Profit (loss) for the period before taxes | 9903 | -€6,137 | €16,146 | +€22,283 | |
| Transfer from deferred taxes | 780 | €3,183 | €3,183 | = | 0.0% |
| Income taxes | 67/77 | €30 | €5,195 | +€5,165 | +17217.0% |
| Profit (loss) for the period | 9904 | -€2,984 | €14,134 | +€17,118 | |
| Transfer from tax-exempt reserves | 789 | €6,181 | €6,181 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,196 | €20,314 | +€17,118 | +535.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.