FREVALO: 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.
FREVALO
Largest movements
- Receivables within one year +€72,721
up €72,721 (+616%), from €11,797 to €84,518
of which Other amounts receivable: +€72,500
- Current investments +€59,565
up €59,565 (+131%), from €45,379 to €104,944
- Cash -€49,064
no longer reported in 2025 (was €49,064)
mainly Contributions, distributions and other (-€97,222) and Receivables within one year (-€72,721)
- Tangible fixed assets +€3,545
up €3,545 (+51.6%), from €6,874 to €10,419
- Other debts +€83,710
new in 2025: €83,710
- Tax, wage and social debts +€45,574
up €45,574 (+422%), from €10,796 to €56,370
of which Taxes: +€45,574
- Reserves -€42,472
down €42,472 (-43.7%), from €97,222 to €54,750
- Gross operating margin +€20,980
up €20,980 (+35.4%), from €59,246 to €80,226
- Taxes +€3,848
up €3,848 (+31.5%), from €12,216 to €16,064
- Write-downs +€1,716
new in 2025: €1,716
- Depreciation +€1,094
up €1,094 (+42.4%), from €2,580 to €3,674
- Other operating charges +€889
up €889 (+138%), from €645 to €1,534
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 | €113,114 | €199,881 | +€86,767 | +76.7% |
| Fixed assets | 21/28 | €6,874 | €10,419 | +€3,545 | +51.6% |
| Tangible fixed assets | 22/27 | €6,874 | €10,419 | +€3,545 | +51.6% |
| Furniture and vehicles | 24 | €6,874 | €10,419 | +€3,545 | +51.6% |
| Current assets | 29/58 | €106,240 | €189,462 | +€83,222 | +78.3% |
| Amounts receivable within one year | 40/41 | €11,797 | €84,518 | +€72,721 | +616% |
| Trade receivables | 40 | €11,797 | €12,018 | +€221 | +1.9% |
| Other amounts receivable | 41 | - | €72,500 | +€72,500 | |
| Current investments | 50/53 | €45,379 | €104,944 | +€59,565 | +131% |
| Cash at bank and in hand | 54/58 | €49,064 | - | -€49,064 | |
| Total equity and liabilities | 10/49 | €113,114 | €199,881 | +€86,767 | +76.7% |
| Equity | 10/15 | €102,318 | €59,750 | -€42,568 | -41.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €97,222 | €54,750 | -€42,472 | -43.7% |
| Distributable reserves | 133 | €97,222 | €54,750 | -€42,472 | -43.7% |
| Profit (loss) carried forward | 14 | €96 | - | -€96 | |
| Amounts payable | 17/49 | €10,796 | €140,131 | +€129,335 | +1,198% |
| Amounts payable within one year | 42/48 | €10,796 | €140,131 | +€129,335 | +1,198% |
| Trade debts | 44 | - | €51 | +€51 | |
| Suppliers | 440/4 | - | €51 | +€51 | |
| Taxes, remuneration and social security | 45 | €10,796 | €56,370 | +€45,574 | +422% |
| Taxes | 450/3 | €8,246 | €53,820 | +€45,574 | +553% |
| Remuneration and social security | 454/9 | €2,550 | €2,550 | = | 0.0% |
| Other amounts payable | 47/48 | - | €83,710 | +€83,710 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,580 | €3,674 | +€1,094 | +42.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,716 | +€1,716 | |
| Other operating charges | 640/8 | €645 | €1,534 | +€889 | +138% |
| Gross operating margin | 9900 | €59,246 | €80,226 | +€20,980 | +35.4% |
| Operating profit (loss) | 9901 | €56,021 | €73,302 | +€17,281 | +30.8% |
| Financial income | 75/76B | €347 | €404 | +€57 | +16.4% |
| Recurring financial income | 75 | €347 | €404 | +€57 | +16.4% |
| Financial charges | 65/66B | €3,199 | €2,988 | -€211 | -6.6% |
| Recurring financial charges | 65 | €3,199 | €2,988 | -€211 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €53,169 | €70,718 | +€17,549 | +33.0% |
| Income taxes | 67/77 | €12,216 | €16,064 | +€3,848 | +31.5% |
| Profit (loss) for the period | 9904 | €40,953 | €54,654 | +€13,701 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,953 | €54,654 | +€13,701 | +33.5% |
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 15 October 2026 via checked.be.