FREQUENCE M.: 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.
What changed
FREQUENCE M.
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€76,330
2024 · -€29,823+€106,152
Equity
€90,793
2024 · €14,464+€76,330
Cash
€7,381
2024 · €15,771-€8,390
Balance sheet total
€1.9m
2024 · €2.1m-€116,275
Largest movements
Assets
- Tangible fixed assets -€149,070
down €149,070 (-10.4%), from €1.4m to €1.3m
of which Land and buildings: -€126,918
- Receivables within one year +€40,842
up €40,842 (+6.9%), from €588,261 to €629,103
of which Other amounts receivable: +€43,626
Equity and liabilities
- Debts after one year -€143,980
down €143,980 (-14.5%), from €993,962 to €849,982
- Profit (loss) carried forward +€76,330
up €76,330 (+38.5%), from -€198,057 to -€121,727
- Short-term financial debts -€55,000
down €55,000 (-57.9%), from €95,000 to €40,000
Income statement
- Gross operating margin +€35,607
up €35,607 (+15.2%), from €234,633 to €270,240
- Write-downs -€24,039
down €24,039, from €14,954 to -€9,085
- Staff costs -€18,990
down €18,990 (-25.5%), from €74,517 to €55,527
- Financial income +€14,959
up €14,959 (+88.8%), from €16,847 to €31,805
- Depreciation -€11,422
down €11,422 (-12.1%), from €94,049 to €82,626
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.
Result 2024
-€29,823
Gross operating margin
+€35,607
Staff costs
+€18,990
Depreciation
+€11,422
Write-downs
+€24,039
Other operating charges
-€4,974
Financial income
+€14,959
Financial charges
+€6,365
Taxes
-€256
Result 2025
€76,330
raises the resultlowers the result
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.
From operations
+€121,776
Investment
+€66,444
Financing
-€196,610
Cash 2024
€15,771
From operations (derived)
+€121,776
Net result for the year
+€76,330
Depreciation
+€82,626
Receivables within one year
-€40,842
Deferred charges and accrued income
-€343
Trade debts
-€2,425
Tax, wage and social debts
-€1,675
Other debts
+€9,469
Accrued charges and deferred income
-€1,363
Investment (derived)
+€66,444
Investment in fixed assets (net)
+€66,444
Financing
-€196,610
Debts after one year
-€143,980
Current portion of long-term debt
+€2,370
Short-term financial debts
-€55,000
Cash 2025
€7,381
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,064,385 | €1,948,110 | -€116,275 | -5.6% |
| Fixed assets | 21/28 | €1,434,375 | €1,285,305 | -€149,070 | -10.4% |
| Tangible fixed assets | 22/27 | €1,433,775 | €1,284,705 | -€149,070 | -10.4% |
| Land and buildings | 22 | €1,404,876 | €1,277,958 | -€126,918 | -9.0% |
| Furniture and vehicles | 24 | €20,853 | €4,327 | -€16,526 | -79.3% |
| Assets under construction and advance payments | 27 | €8,046 | €2,420 | -€5,626 | -69.9% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €630,010 | €662,806 | +€32,795 | +5.2% |
| Amounts receivable within one year | 40/41 | €588,261 | €629,103 | +€40,842 | +6.9% |
| Trade receivables | 40 | €50,433 | €47,649 | -€2,784 | -5.5% |
| Other amounts receivable | 41 | €537,828 | €581,454 | +€43,626 | +8.1% |
| Cash at bank and in hand | 54/58 | €15,771 | €7,381 | -€8,390 | -53.2% |
| Deferred charges and accrued income | 490/1 | €25,978 | €26,321 | +€343 | +1.3% |
| Total equity and liabilities | 10/49 | €2,064,385 | €1,948,110 | -€116,275 | -5.6% |
| Equity | 10/15 | €14,464 | €90,793 | +€76,330 | +528% |
| Contributions | 10/11 | €148,875 | €148,875 | = | 0.0% |
| Capital | 10 | €148,875 | €148,875 | = | 0.0% |
| Issued capital | 100 | €148,875 | €148,875 | = | 0.0% |
| Reserves | 13 | €63,645 | €63,645 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,888 | €14,888 | = | 0.0% |
| Legal reserve | 130 | €14,888 | €14,888 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,302 | €10,302 | = | 0.0% |
| Distributable reserves | 133 | €38,456 | €38,456 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,057 | -€121,727 | +€76,330 | +38.5% |
| Amounts payable | 17/49 | €2,049,921 | €1,857,317 | -€192,604 | -9.4% |
| Amounts payable after more than one year | 17 | €993,962 | €849,982 | -€143,980 | -14.5% |
| Financial debts | 170/4 | €993,962 | €849,982 | -€143,980 | -14.5% |
| Amounts payable within one year | 42/48 | €1,054,221 | €1,006,960 | -€47,261 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €116,610 | €118,980 | +€2,370 | +2.0% |
| Financial debts | 43 | €95,000 | €40,000 | -€55,000 | -57.9% |
| Credit institutions | 430/8 | €95,000 | €40,000 | -€55,000 | -57.9% |
| Trade debts | 44 | €9,836 | €7,411 | -€2,425 | -24.7% |
| Suppliers | 440/4 | €9,836 | €7,411 | -€2,425 | -24.7% |
| Taxes, remuneration and social security | 45 | €11,841 | €10,166 | -€1,675 | -14.1% |
| Taxes | 450/3 | €2,465 | €1,587 | -€878 | -35.6% |
| Remuneration and social security | 454/9 | €9,376 | €8,579 | -€797 | -8.5% |
| Other amounts payable | 47/48 | €820,934 | €830,403 | +€9,469 | +1.2% |
| Accrued charges and deferred income | 492/3 | €1,738 | €375 | -€1,363 | -78.4% |
| Non-recurring operating income | 76A | €15,331 | €86,776 | +€71,446 | +466% |
| Remuneration, social security and pensions | 62 | €74,517 | €55,527 | -€18,990 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,049 | €82,626 | -€11,422 | -12.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,954 | -€9,085 | -€24,039 | |
| Other operating charges | 640/8 | €30,854 | €35,829 | +€4,974 | +16.1% |
| Gross operating margin | 9900 | €234,633 | €270,240 | +€35,607 | +15.2% |
| Operating profit (loss) | 9901 | €20,259 | €105,343 | +€85,084 | +420% |
| Financial income | 75/76B | €16,847 | €31,805 | +€14,959 | +88.8% |
| Recurring financial income | 75 | €16,847 | €31,805 | +€14,959 | +88.8% |
| Financial charges | 65/66B | €66,382 | €60,017 | -€6,365 | -9.6% |
| Recurring financial charges | 65 | €66,382 | €60,017 | -€6,365 | -9.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€29,276 | €77,132 | +€106,408 | |
| Income taxes | 67/77 | €546 | €802 | +€256 | +46.9% |
| Profit (loss) for the period | 9904 | -€29,823 | €76,330 | +€106,152 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,823 | €76,330 | +€106,152 |
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 14 October 2026 via checked.be.