FRESTAM: 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.
FRESTAM
Largest movements
- Tangible fixed assets +€2.2m
up €2.2m (+96.2%), from €2.3m to €4.6m
of which Land and buildings: +€2.2m
- Cash -€1.2m
down €1.2m (-84.1%), from €1.4m to €226,573
mainly Investment in fixed assets (net) (-€2.7m) and Net result for the year (-€181,430)
- Receivables within one year -€180,000
down €180,000 (-50.1%), from €359,147 to €179,147
of which Other amounts receivable: -€180,000
- Debts after one year +€875,128
up €875,128 (+187.7%), from €466,333 to €1.3m
- Profit (loss) carried forward -€181,430
down €181,430 (-15.9%), from -€1.1m to -€1.3m
- Current portion of long-term debt +€116,653
new in 2023: €116,653
- Short-term financial debts +€69,445
up €69,445 (+176.7%), from €39,295 to €108,740
of which Credit institutions: +€66,333
- Depreciation +€160,696
up €160,696 (+60.3%), from €266,559 to €427,256
- Gross operating margin +€59,192
up €59,192 (+15.2%), from €390,012 to €449,204
- Other operating charges -€48,033
down €48,033 (-25.4%), from €188,786 to €140,753
- Financial charges +€22,929
up €22,929 (+291.1%), from €7,877 to €30,805
- Taxes +€8,600
no longer reported in 2023 (was -€8,600)
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,437,422 | €5,294,479 | +€857,057 | +19.3% |
| Fixed assets | 21/28 | €2,325,056 | €4,562,201 | +€2.2m | +96.2% |
| Tangible fixed assets | 22/27 | €2,325,056 | €4,562,201 | +€2.2m | +96.2% |
| Land and buildings | 22 | €2,292,997 | €4,540,829 | +€2.2m | +98.0% |
| Furniture and vehicles | 24 | €32,059 | €21,372 | -€10,687 | -33.3% |
| Current assets | 29/58 | €2,112,366 | €732,279 | -€1.4m | -65.3% |
| Amounts receivable within one year | 40/41 | €359,147 | €179,147 | -€180,000 | -50.1% |
| Trade receivables | 40 | €129,129 | €129,129 | = | 0.0% |
| Other amounts receivable | 41 | €230,018 | €50,018 | -€180,000 | -78.3% |
| Current investments | 50/53 | €326,559 | €326,559 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,426,660 | €226,573 | -€1.2m | -84.1% |
| Total equity and liabilities | 10/49 | €4,437,422 | €5,294,479 | +€857,057 | +19.3% |
| Equity | 10/15 | €3,894,766 | €3,713,336 | -€181,430 | -4.7% |
| Contributions | 10/11 | €5,037,000 | €5,037,000 | = | 0.0% |
| Capital | 10 | €5,037,000 | €5,037,000 | = | 0.0% |
| Issued capital | 100 | €5,037,000 | €5,037,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,142,234 | -€1,323,664 | -€181,430 | -15.9% |
| Amounts payable | 17/49 | €542,656 | €1,581,143 | +€1.0m | +191.4% |
| Amounts payable after more than one year | 17 | €466,333 | €1,341,461 | +€875,128 | +187.7% |
| Financial debts | 170/4 | €466,333 | €1,341,461 | +€875,128 | +187.7% |
| Amounts payable within one year | 42/48 | €76,323 | €239,682 | +€163,359 | +214.0% |
| Current portion of amounts payable after more than one year | 42 | - | €116,653 | +€116,653 | |
| Financial debts | 43 | €39,295 | €108,740 | +€69,445 | +176.7% |
| Credit institutions | 430/8 | €33,667 | €100,000 | +€66,333 | +197.0% |
| Other loans | 439 | €5,627 | €8,740 | +€3,113 | +55.3% |
| Trade debts | 44 | €29,645 | €5,237 | -€24,408 | -82.3% |
| Suppliers | 440/4 | €29,645 | €5,237 | -€24,408 | -82.3% |
| Taxes, remuneration and social security | 45 | - | €1,669 | +€1,669 | |
| Taxes | 450/3 | - | €1,669 | +€1,669 | |
| Other amounts payable | 47/48 | €7,383 | €7,383 | = | 0.0% |
| Non-recurring operating income | 76A | - | €13,822 | +€13,822 | |
| Remuneration, social security and pensions | 62 | €34,106 | €35,430 | +€1,325 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266,559 | €427,256 | +€160,696 | +60.3% |
| Other operating charges | 640/8 | €188,786 | €140,753 | -€48,033 | -25.4% |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Gross operating margin | 9900 | €390,012 | €449,204 | +€59,192 | +15.2% |
| Operating profit (loss) | 9901 | -€99,439 | -€154,235 | -€54,796 | -55.1% |
| Financial income | 75/76B | €483 | €3,611 | +€3,128 | +647.5% |
| Recurring financial income | 75 | €483 | €3,611 | +€3,128 | +647.5% |
| Financial charges | 65/66B | €7,877 | €30,805 | +€22,929 | +291.1% |
| Recurring financial charges | 65 | €7,877 | €30,805 | +€22,929 | +291.1% |
| Profit (loss) for the period before taxes | 9903 | -€106,833 | -€181,430 | -€74,597 | -69.8% |
| Income taxes | 67/77 | -€8,600 | - | +€8,600 | |
| Profit (loss) for the period | 9904 | -€98,233 | -€181,430 | -€83,197 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€98,233 | -€181,430 | -€83,197 | -84.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2022 and 31 March 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.