FREVADO: 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.
FREVADO
Largest movements
- Receivables within one year +€55,008
up €55,008 (+149.9%), from €36,697 to €91,704
of which Trade receivables: +€57,768
- Intangible fixed assets -€12,000
down €12,000 (-33.2%), from €36,099 to €24,099
- Tangible fixed assets -€10,842
down €10,842 (-10.3%), from €105,733 to €94,891
of which Plant, machinery and equipment: -€24,589
- Stocks and contracts -€4,042
down €4,042 (-7.4%), from €54,723 to €50,681
- Profit (loss) carried forward +€46,242
up €46,242 (+46.8%), from -€98,738 to -€52,496
- Other debts -€19,475
down €19,475 (-7.5%), from €260,084 to €240,609
- Trade debts +€7,495
up €7,495 (+68.2%), from €10,998 to €18,493
- Tax, wage and social debts -€4,795
down €4,795 (-61.3%), from €7,823 to €3,028
of which Remuneration and social security: -€7,217
- Short-term financial debts -€3,404
down €3,404 (-79.8%), from €4,266 to €862
- Gross operating margin +€100,240
up €100,240 (+86.3%), from €116,120 to €216,360
- Staff costs -€10,370
down €10,370 (-7.9%), from €132,072 to €121,702
- Other operating charges -€7,510
down €7,510 (-66.1%), from €11,357 to €3,847
- Depreciation +€3,325
up €3,325 (+7.1%), from €46,892 to €50,217
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.
Cash bridge derived
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 | €254,731 | €280,884 | +€26,153 | +10.3% |
| Fixed assets | 21/28 | €151,904 | €129,143 | -€22,761 | -15.0% |
| Intangible fixed assets | 21 | €36,099 | €24,099 | -€12,000 | -33.2% |
| Tangible fixed assets | 22/27 | €105,733 | €94,891 | -€10,842 | -10.3% |
| Plant, machinery and equipment | 23 | €97,642 | €73,053 | -€24,589 | -25.2% |
| Furniture and vehicles | 24 | €8,091 | €21,838 | +€13,747 | +169.9% |
| Financial fixed assets | 28 | €10,073 | €10,153 | +€80 | +0.8% |
| Current assets | 29/58 | €102,827 | €151,741 | +€48,914 | +47.6% |
| Stocks and contracts in progress | 3 | €54,723 | €50,681 | -€4,042 | -7.4% |
| Stocks | 30/36 | €54,723 | €50,681 | -€4,042 | -7.4% |
| Amounts receivable within one year | 40/41 | €36,697 | €91,704 | +€55,008 | +149.9% |
| Trade receivables | 40 | €21,922 | €79,690 | +€57,768 | +263.5% |
| Other amounts receivable | 41 | €14,775 | €12,014 | -€2,761 | -18.7% |
| Cash at bank and in hand | 54/58 | €3,757 | €994 | -€2,764 | -73.6% |
| Deferred charges and accrued income | 490/1 | €7,650 | €8,362 | +€712 | +9.3% |
| Total equity and liabilities | 10/49 | €254,731 | €280,884 | +€26,153 | +10.3% |
| Equity | 10/15 | -€30,626 | €15,616 | +€46,242 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,512 | €49,512 | = | 0.0% |
| Distributable reserves | 133 | €49,512 | €49,512 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,738 | -€52,496 | +€46,242 | +46.8% |
| Amounts payable | 17/49 | €285,357 | €265,267 | -€20,090 | -7.0% |
| Amounts payable within one year | 42/48 | €283,172 | €262,992 | -€20,180 | -7.1% |
| Financial debts | 43 | €4,266 | €862 | -€3,404 | -79.8% |
| Credit institutions | 430/8 | €4,266 | €862 | -€3,404 | -79.8% |
| Trade debts | 44 | €10,998 | €18,493 | +€7,495 | +68.2% |
| Suppliers | 440/4 | €10,998 | €18,493 | +€7,495 | +68.2% |
| Taxes, remuneration and social security | 45 | €7,823 | €3,028 | -€4,795 | -61.3% |
| Taxes | 450/3 | €534 | €2,956 | +€2,422 | +453.2% |
| Remuneration and social security | 454/9 | €7,289 | €72 | -€7,217 | -99.0% |
| Other amounts payable | 47/48 | €260,084 | €240,609 | -€19,475 | -7.5% |
| Accrued charges and deferred income | 492/3 | €2,185 | €2,275 | +€90 | +4.1% |
| Remuneration, social security and pensions | 62 | €132,072 | €121,702 | -€10,370 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,892 | €50,217 | +€3,325 | +7.1% |
| Other operating charges | 640/8 | €11,357 | €3,847 | -€7,510 | -66.1% |
| Gross operating margin | 9900 | €116,120 | €216,360 | +€100,240 | +86.3% |
| Operating profit (loss) | 9901 | -€74,201 | €40,594 | +€114,795 | |
| Financial income | 75/76B | €4,605 | €6,188 | +€1,583 | +34.4% |
| Recurring financial income | 75 | €4,605 | €6,188 | +€1,583 | +34.4% |
| Financial charges | 65/66B | €701 | €539 | -€162 | -23.0% |
| Recurring financial charges | 65 | €701 | €539 | -€162 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | -€70,296 | €46,242 | +€116,539 | |
| Profit (loss) for the period | 9904 | -€70,296 | €46,242 | +€116,539 | |
| Profit (loss) for the period to be appropriated | 9905 | -€70,296 | €46,242 | +€116,539 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.