FREZH: 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.
FREZH
Largest movements
- Cash +€2,287
up €2,287 (+613.2%), from €373 to €2,660
mainly Other debts (+€2,823) and Trade debts (+€327)
- Formation expenses -€249
down €249 (-50.0%), from €499 to €249
- Other debts +€2,823
up €2,823 (+0.9%), from €306,668 to €309,491
- Profit (loss) carried forward -€1,096
down €1,096 (-0.3%), from -€323,020 to -€324,116
- Trade debts +€327
new in 2025: €327
- Gross operating margin +€40,586
up €40,586 (+98.3%), from -€41,282 to -€696
- Other operating charges -€2,884
no longer reported in 2025 (was €2,884)
- Purchases and services +€696
new in 2025: €696
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 | €2,248 | €4,302 | +€2,054 | +91.4% |
| Formation expenses | 20 | €499 | €249 | -€249 | -50.0% |
| Current assets | 29/58 | €1,749 | €4,053 | +€2,303 | +131.7% |
| Amounts receivable within one year | 40/41 | €1,376 | €1,393 | +€16 | +1.2% |
| Other amounts receivable | 41 | €1,376 | €1,393 | +€16 | +1.2% |
| Cash at bank and in hand | 54/58 | €373 | €2,660 | +€2,287 | +613.2% |
| Total equity and liabilities | 10/49 | €2,248 | €4,302 | +€2,054 | +91.4% |
| Equity | 10/15 | -€304,420 | -€305,516 | -€1,096 | -0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€323,020 | -€324,116 | -€1,096 | -0.3% |
| Amounts payable | 17/49 | €306,668 | €309,818 | +€3,150 | +1.0% |
| Amounts payable within one year | 42/48 | €306,668 | €309,818 | +€3,150 | +1.0% |
| Trade debts | 44 | - | €327 | +€327 | |
| Suppliers | 440/4 | - | €327 | +€327 | |
| Other amounts payable | 47/48 | €306,668 | €309,491 | +€2,823 | +0.9% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €696 | +€696 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €249 | €249 | = | 0.0% |
| Other operating charges | 640/8 | €2,884 | - | -€2,884 | |
| Non-recurring operating charges | 66A | €180,797 | - | -€180,797 | |
| Gross operating margin | 9900 | -€41,282 | -€696 | +€40,586 | +98.3% |
| Operating profit (loss) | 9901 | -€225,212 | -€946 | +€224,267 | +99.6% |
| Financial charges | 65/66B | €120 | €150 | +€30 | +25.0% |
| Recurring financial charges | 65 | €120 | €150 | +€30 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | -€225,332 | -€1,096 | +€224,237 | +99.5% |
| Profit (loss) for the period | 9904 | -€225,332 | -€1,096 | +€224,237 | +99.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€225,332 | -€1,096 | +€224,237 | +99.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.