FREVINI: 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.
FREVINI
Largest movements
- Tangible fixed assets -€45,258
down €45,258 (-19.4%), from €233,024 to €187,766
of which Other tangible fixed assets: -€32,227
- Cash -€30,045
down €30,045 (-57.4%), from €52,359 to €22,314
mainly Debts after one year (-€40,771) and Receivables within one year (-€19,449)
- Receivables within one year +€19,449
up €19,449 (+56.3%), from €34,518 to €53,967
of which Other amounts receivable: +€11,017
- Stocks and contracts -€15,202
down €15,202 (-29.8%), from €51,077 to €35,876
- Deferred charges and accrued income +€4,520
up €4,520 (+44.5%), from €10,165 to €14,685
- Debts after one year -€40,771
down €40,771 (-29.2%), from €139,818 to €99,047
- Profit (loss) carried forward -€18,550
down €18,550 (-35.9%), from -€51,639 to -€70,189
- Current portion of long-term debt -€15,770
down €15,770 (-27.1%), from €58,152 to €42,383
- Trade debts +€10,016
up €10,016 (+8.0%), from €125,782 to €135,798
- Staff costs +€45,999
up €45,999 (+10.6%), from €433,858 to €479,857
- Gross operating margin +€29,724
up €29,724 (+5.7%), from €518,123 to €547,847
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 | €381,644 | €315,109 | -€66,535 | -17.4% |
| Fixed assets | 21/28 | €233,524 | €188,266 | -€45,258 | -19.4% |
| Tangible fixed assets | 22/27 | €233,024 | €187,766 | -€45,258 | -19.4% |
| Plant, machinery and equipment | 23 | €55,900 | €47,175 | -€8,726 | -15.6% |
| Furniture and vehicles | 24 | €15,057 | €10,751 | -€4,306 | -28.6% |
| Other tangible fixed assets | 26 | €162,067 | €129,840 | -€32,227 | -19.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €148,120 | €126,843 | -€21,277 | -14.4% |
| Stocks and contracts in progress | 3 | €51,077 | €35,876 | -€15,202 | -29.8% |
| Stocks | 30/36 | €51,077 | €35,876 | -€15,202 | -29.8% |
| Amounts receivable within one year | 40/41 | €34,518 | €53,967 | +€19,449 | +56.3% |
| Trade receivables | 40 | €11,761 | €20,194 | +€8,433 | +71.7% |
| Other amounts receivable | 41 | €22,756 | €33,773 | +€11,017 | +48.4% |
| Cash at bank and in hand | 54/58 | €52,359 | €22,314 | -€30,045 | -57.4% |
| Deferred charges and accrued income | 490/1 | €10,165 | €14,685 | +€4,520 | +44.5% |
| Total equity and liabilities | 10/49 | €381,644 | €315,109 | -€66,535 | -17.4% |
| Equity | 10/15 | -€33,039 | -€51,589 | -€18,550 | -56.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,639 | -€70,189 | -€18,550 | -35.9% |
| Amounts payable | 17/49 | €414,683 | €366,698 | -€47,985 | -11.6% |
| Amounts payable after more than one year | 17 | €139,818 | €99,047 | -€40,771 | -29.2% |
| Financial debts | 170/4 | €139,818 | €99,047 | -€40,771 | -29.2% |
| Amounts payable within one year | 42/48 | €274,866 | €267,324 | -€7,541 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €58,152 | €42,383 | -€15,770 | -27.1% |
| Financial debts | 43 | €11,105 | €11,584 | +€479 | +4.3% |
| Credit institutions | 430/8 | €11,105 | €11,584 | +€479 | +4.3% |
| Trade debts | 44 | €125,782 | €135,798 | +€10,016 | +8.0% |
| Suppliers | 440/4 | €125,782 | €135,798 | +€10,016 | +8.0% |
| Taxes, remuneration and social security | 45 | €79,826 | €77,560 | -€2,266 | -2.8% |
| Taxes | 450/3 | €34,757 | €35,265 | +€507 | +1.5% |
| Remuneration and social security | 454/9 | €45,069 | €42,296 | -€2,773 | -6.2% |
| Accrued charges and deferred income | 492/3 | - | €327 | +€327 | |
| Remuneration, social security and pensions | 62 | €433,858 | €479,857 | +€45,999 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,115 | €58,565 | +€450 | +0.8% |
| Other operating charges | 640/8 | €556 | €410 | -€146 | -26.2% |
| Gross operating margin | 9900 | €518,123 | €547,847 | +€29,724 | +5.7% |
| Operating profit (loss) | 9901 | €25,594 | €9,014 | -€16,580 | -64.8% |
| Financial income | 75/76B | €874 | €1,422 | +€548 | +62.8% |
| Recurring financial income | 75 | €874 | €1,422 | +€548 | +62.8% |
| Financial charges | 65/66B | €26,855 | €28,431 | +€1,576 | +5.9% |
| Recurring financial charges | 65 | €26,855 | €28,431 | +€1,576 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | -€387 | -€17,995 | -€17,607 | -4,545% |
| Income taxes | 67/77 | €4,485 | €555 | -€3,930 | -87.6% |
| Profit (loss) for the period | 9904 | -€4,873 | -€18,550 | -€13,677 | -281% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,873 | -€18,550 | -€13,677 | -281% |
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 16 October 2026 via checked.be.