Fretalop: 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.
Fretalop
Largest movements
- Intangible fixed assets -€21,800
down €21,800 (-11.4%), from €191,467 to €169,667
- Tangible fixed assets +€6,733
up €6,733 (+21.0%), from €32,112 to €38,845
of which Leasing and similar rights: +€9,628
- Cash -€3,523
down €3,523 (-23.2%), from €15,176 to €11,653
mainly Net result for the year (-€41,921) and Debts after one year (-€23,125)
- Profit (loss) carried forward -€41,921
down €41,921, from €2,058 to -€39,862
- Debts after one year -€23,125
down €23,125 (-12.2%), from €189,230 to €166,104
of which Financial debts: -€77,134
- Tax, wage and social debts +€22,929
up €22,929 (+116%), from €19,852 to €42,781
of which Taxes: +€13,785
- Trade debts +€15,470
up €15,470 (+26.8%), from €57,786 to €73,256
- Current portion of long-term debt +€4,873
new in 2025: €4,873
- Staff costs +€54,306
up €54,306 (+54.3%), from €100,084 to €154,390
- Gross operating margin +€10,638
up €10,638 (+7.7%), from €137,624 to €148,261
- Financial charges +€2,924
up €2,924 (+98.1%), from €2,979 to €5,904
- Depreciation -€1,904
down €1,904 (-6.3%), from €30,216 to €28,312
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 | €271,926 | €250,151 | -€21,774 | -8.0% |
| Fixed assets | 21/28 | €226,171 | €211,104 | -€15,067 | -6.7% |
| Intangible fixed assets | 21 | €191,467 | €169,667 | -€21,800 | -11.4% |
| Tangible fixed assets | 22/27 | €32,112 | €38,845 | +€6,733 | +21.0% |
| Plant, machinery and equipment | 23 | €31,500 | €28,764 | -€2,736 | -8.7% |
| Furniture and vehicles | 24 | €612 | €454 | -€159 | -25.9% |
| Leasing and similar rights | 25 | - | €9,628 | +€9,628 | |
| Financial fixed assets | 28 | €2,592 | €2,592 | = | 0.0% |
| Current assets | 29/58 | €45,755 | €39,047 | -€6,708 | -14.7% |
| Stocks and contracts in progress | 3 | €9,365 | €7,723 | -€1,642 | -17.5% |
| Stocks | 30/36 | €9,365 | €7,723 | -€1,642 | -17.5% |
| Amounts receivable within one year | 40/41 | €18,378 | €16,194 | -€2,184 | -11.9% |
| Trade receivables | 40 | €16,202 | €9,188 | -€7,014 | -43.3% |
| Other amounts receivable | 41 | €2,176 | €7,006 | +€4,830 | +222% |
| Current investments | 50/53 | - | €12 | +€12 | |
| Cash at bank and in hand | 54/58 | €15,176 | €11,653 | -€3,523 | -23.2% |
| Deferred charges and accrued income | 490/1 | €2,836 | €3,465 | +€629 | +22.2% |
| Total equity and liabilities | 10/49 | €271,926 | €250,151 | -€21,774 | -8.0% |
| Equity | 10/15 | €5,058 | -€36,862 | -€41,921 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,058 | -€39,862 | -€41,921 | |
| Amounts payable | 17/49 | €266,867 | €287,013 | +€20,146 | +7.5% |
| Amounts payable after more than one year | 17 | €189,230 | €166,104 | -€23,125 | -12.2% |
| Financial debts | 170/4 | €84,803 | €7,668 | -€77,134 | -91.0% |
| Trade debts | 175 | €104,427 | €71,397 | -€33,030 | -31.6% |
| Other amounts payable | 178/9 | - | €87,039 | +€87,039 | |
| Amounts payable within one year | 42/48 | €77,637 | €120,909 | +€43,272 | +55.7% |
| Current portion of amounts payable after more than one year | 42 | - | €4,873 | +€4,873 | |
| Trade debts | 44 | €57,786 | €73,256 | +€15,470 | +26.8% |
| Suppliers | 440/4 | €57,786 | €73,256 | +€15,470 | +26.8% |
| Taxes, remuneration and social security | 45 | €19,852 | €42,781 | +€22,929 | +116% |
| Taxes | 450/3 | €6,638 | €20,423 | +€13,785 | +208% |
| Remuneration and social security | 454/9 | €13,213 | €22,358 | +€9,144 | +69.2% |
| Non-recurring operating income | 76A | €3,000 | €0 | -€3,000 | -100% |
| Remuneration, social security and pensions | 62 | €100,084 | €154,390 | +€54,306 | +54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,216 | €28,312 | -€1,904 | -6.3% |
| Other operating charges | 640/8 | €1,322 | €1,380 | +€58 | +4.4% |
| Non-recurring operating charges | 66A | - | €109 | +€109 | |
| Gross operating margin | 9900 | €137,624 | €148,261 | +€10,638 | +7.7% |
| Operating profit (loss) | 9901 | €6,002 | -€35,930 | -€41,932 | |
| Financial income | 75/76B | €67 | €46 | -€21 | -31.2% |
| Recurring financial income | 75 | €67 | €46 | -€21 | -31.2% |
| Financial charges | 65/66B | €2,979 | €5,904 | +€2,924 | +98.1% |
| Recurring financial charges | 65 | €2,979 | €5,904 | +€2,924 | +98.1% |
| Profit (loss) for the period before taxes | 9903 | €3,090 | -€41,787 | -€44,877 | |
| Income taxes | 67/77 | €1,032 | €134 | -€898 | -87.0% |
| Profit (loss) for the period | 9904 | €2,058 | -€41,921 | -€43,979 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,058 | -€41,921 | -€43,979 |
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 25 October 2026 via checked.be.