FRERO 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.
FRERO INVEST
Largest movements
- Tangible fixed assets +€4,629
up €4,629 (+6.6%), from €70,432 to €75,061
of which Plant, machinery and equipment: +€6,462
- Cash -€4,493
down €4,493 (-10.9%), from €41,129 to €36,636
mainly Investment in fixed assets (net) (-€6,757)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€1,587
down €1,587 (-21.7%), from €7,314 to €5,727
- Depreciation +€296
up €296 (+16.1%), from €1,832 to €2,128
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 | €111,661 | €111,797 | +€136 | +0.1% |
| Fixed assets | 21/28 | €70,432 | €75,061 | +€4,629 | +6.6% |
| Tangible fixed assets | 22/27 | €70,432 | €75,061 | +€4,629 | +6.6% |
| Land and buildings | 22 | €70,432 | €68,600 | -€1,832 | -2.6% |
| Plant, machinery and equipment | 23 | - | €6,462 | +€6,462 | |
| Current assets | 29/58 | €41,229 | €36,736 | -€4,493 | -10.9% |
| Cash at bank and in hand | 54/58 | €41,129 | €36,636 | -€4,493 | -10.9% |
| Deferred charges and accrued income | 490/1 | €100 | €100 | = | 0.0% |
| Total equity and liabilities | 10/49 | €111,661 | €111,797 | +€136 | +0.1% |
| Equity | 10/15 | €110,511 | €110,647 | +€136 | +0.1% |
| Contributions | 10/11 | €228,000 | €228,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,489 | -€117,353 | +€136 | +0.1% |
| Amounts payable | 17/49 | €1,150 | €1,150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,150 | €1,150 | = | 0.0% |
| Other amounts payable | 47/48 | €1,150 | €1,150 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,832 | €2,128 | +€296 | +16.1% |
| Other operating charges | 640/8 | €3,465 | €3,408 | -€57 | -1.7% |
| Gross operating margin | 9900 | €7,314 | €5,727 | -€1,587 | -21.7% |
| Operating profit (loss) | 9901 | €2,017 | €191 | -€1,825 | -90.5% |
| Financial charges | 65/66B | €52 | €55 | +€3 | +6.7% |
| Recurring financial charges | 65 | €52 | €55 | +€3 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €1,965 | €136 | -€1,829 | -93.1% |
| Profit (loss) for the period | 9904 | €1,965 | €136 | -€1,829 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,965 | €136 | -€1,829 | -93.1% |
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 31 October 2026 via checked.be.