FRESHO: 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.
FRESHO
Largest movements
- Receivables within one year +€678,157
up €678,157 (+411%), from €165,111 to €843,268
of which Trade receivables: +€708,931
- Cash -€28,718
down €28,718 (-3.9%), from €741,618 to €712,900
mainly Receivables within one year (-€678,157) and Contributions, distributions and other (-€586,111)
- Other debts +€436,895
up €436,895 (+1,560%), from €28,010 to €464,905
- Current portion of long-term debt +€201,358
up €201,358 (+69.3%), from €290,679 to €492,037
- Tax, wage and social debts +€134,024
up €134,024 (+215%), from €62,429 to €196,453
of which Taxes: +€152,930
- Debts after one year -€100,323
down €100,323 (-51.5%), from €194,614 to €94,291
- Reserves -€45,580
down €45,580 (-6.6%), from €693,881 to €648,300
of which Distributable reserves: -€43,725
- Gross operating margin +€75,218
up €75,218 (+6.4%), from €1.2m to €1.2m
- Staff costs +€48,861
up €48,861 (+14.4%), from €340,135 to €388,996
- Depreciation +€37,411
up €37,411 (+48.9%), from €76,530 to €113,940
- Taxes +€17,827
up €17,827 (+11.6%), from €154,149 to €171,976
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 | €1,341,087 | €1,978,482 | +€637,395 | +47.5% |
| Fixed assets | 21/28 | €431,308 | €416,738 | -€14,570 | -3.4% |
| Intangible fixed assets | 21 | €41,677 | €25,909 | -€15,768 | -37.8% |
| Tangible fixed assets | 22/27 | €389,131 | €390,330 | +€1,199 | +0.3% |
| Land and buildings | 22 | €93,006 | €84,470 | -€8,537 | -9.2% |
| Plant, machinery and equipment | 23 | €76,389 | €91,702 | +€15,313 | +20.0% |
| Furniture and vehicles | 24 | €219,735 | €214,158 | -€5,577 | -2.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €909,779 | €1,561,744 | +€651,965 | +71.7% |
| Amounts receivable within one year | 40/41 | €165,111 | €843,268 | +€678,157 | +411% |
| Trade receivables | 40 | €103,621 | €812,552 | +€708,931 | +684% |
| Other amounts receivable | 41 | €61,490 | €30,716 | -€30,774 | -50.0% |
| Cash at bank and in hand | 54/58 | €741,618 | €712,900 | -€28,718 | -3.9% |
| Deferred charges and accrued income | 490/1 | €3,051 | €5,576 | +€2,525 | +82.8% |
| Total equity and liabilities | 10/49 | €1,341,087 | €1,978,482 | +€637,395 | +47.5% |
| Equity | 10/15 | €732,050 | €685,059 | -€46,991 | -6.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €693,881 | €648,300 | -€45,580 | -6.6% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Tax-exempt reserves | 132 | €36,410 | €36,410 | = | 0.0% |
| Distributable reserves | 133 | €655,615 | €611,890 | -€43,725 | -6.7% |
| Investment grants | 15 | €19,620 | €18,209 | -€1,411 | -7.2% |
| Amounts payable | 17/49 | €609,037 | €1,293,423 | +€684,386 | +112% |
| Amounts payable after more than one year | 17 | €194,614 | €94,291 | -€100,323 | -51.5% |
| Financial debts | 170/4 | €194,614 | €94,291 | -€100,323 | -51.5% |
| Amounts payable within one year | 42/48 | €413,482 | €1,198,191 | +€784,709 | +190% |
| Current portion of amounts payable after more than one year | 42 | €290,679 | €492,037 | +€201,358 | +69.3% |
| Trade debts | 44 | €32,365 | €44,796 | +€12,432 | +38.4% |
| Suppliers | 440/4 | €32,365 | €44,796 | +€12,432 | +38.4% |
| Taxes, remuneration and social security | 45 | €62,429 | €196,453 | +€134,024 | +215% |
| Taxes | 450/3 | €1,345 | €154,274 | +€152,930 | +11,373% |
| Remuneration and social security | 454/9 | €61,084 | €42,179 | -€18,905 | -30.9% |
| Other amounts payable | 47/48 | €28,010 | €464,905 | +€436,895 | +1,560% |
| Accrued charges and deferred income | 492/3 | €941 | €941 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €340,135 | €388,996 | +€48,861 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,530 | €113,940 | +€37,411 | +48.9% |
| Other operating charges | 640/8 | €2,127 | €2,136 | +€9 | +0.4% |
| Gross operating margin | 9900 | €1,172,222 | €1,247,441 | +€75,218 | +6.4% |
| Operating profit (loss) | 9901 | €753,431 | €742,368 | -€11,063 | -1.5% |
| Financial income | 75/76B | €2,511 | €2,577 | +€66 | +2.6% |
| Recurring financial income | 75 | €2,511 | €2,177 | -€334 | -13.3% |
| Non-recurring financial income | 76B | - | €400 | +€400 | |
| Financial charges | 65/66B | €25,119 | €33,850 | +€8,732 | +34.8% |
| Recurring financial charges | 65 | €25,119 | €28,833 | +€3,715 | +14.8% |
| Non-recurring financial charges | 66B | - | €5,017 | +€5,017 | |
| Profit (loss) for the period before taxes | 9903 | €730,824 | €711,095 | -€19,728 | -2.7% |
| Income taxes | 67/77 | €154,149 | €171,976 | +€17,827 | +11.6% |
| Profit (loss) for the period | 9904 | €576,675 | €539,120 | -€37,555 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €576,675 | €539,120 | -€37,555 | -6.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.