L-FRESH: 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.
L-FRESH
Largest movements
- Receivables within one year +€99,676
up €99,676 (+16.2%), from €615,799 to €715,475
of which Other amounts receivable: +€99,882
- Cash -€69,440
down €69,440 (-96.1%), from €72,294 to €2,855
mainly Receivables within one year (-€99,676) and Stocks and contracts (-€8,164)
- Stocks and contracts +€8,164
up €8,164 (+46.7%), from €17,466 to €25,630
- Reserves +€38,446
up €38,446 (+8.1%), from €476,403 to €514,849
- Gross operating margin -€33,503
down €33,503 (-10.3%), from €324,980 to €291,477
- Staff costs +€17,504
up €17,504 (+8.2%), from €213,670 to €231,174
- Taxes -€14,003
down €14,003 (-45.1%), from €31,082 to €17,079
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 | €715,556 | €750,585 | +€35,029 | +4.9% |
| Fixed assets | 21/28 | €8,239 | €4,839 | -€3,400 | -41.3% |
| Intangible fixed assets | 21 | €5,605 | €4,105 | -€1,500 | -26.8% |
| Tangible fixed assets | 22/27 | €2,634 | €734 | -€1,900 | -72.1% |
| Plant, machinery and equipment | 23 | €2,634 | €734 | -€1,900 | -72.1% |
| Current assets | 29/58 | €707,317 | €745,746 | +€38,429 | +5.4% |
| Stocks and contracts in progress | 3 | €17,466 | €25,630 | +€8,164 | +46.7% |
| Stocks | 30/36 | €17,466 | €25,630 | +€8,164 | +46.7% |
| Amounts receivable within one year | 40/41 | €615,799 | €715,475 | +€99,676 | +16.2% |
| Trade receivables | 40 | €4,544 | €4,338 | -€206 | -4.5% |
| Other amounts receivable | 41 | €611,255 | €711,137 | +€99,882 | +16.3% |
| Cash at bank and in hand | 54/58 | €72,294 | €2,855 | -€69,440 | -96.1% |
| Deferred charges and accrued income | 490/1 | €1,758 | €1,786 | +€28 | +1.6% |
| Total equity and liabilities | 10/49 | €715,556 | €750,585 | +€35,029 | +4.9% |
| Equity | 10/15 | €496,403 | €534,849 | +€38,446 | +7.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €476,403 | €514,849 | +€38,446 | +8.1% |
| Distributable reserves | 133 | €476,403 | €514,849 | +€38,446 | +8.1% |
| Amounts payable | 17/49 | €219,153 | €215,736 | -€3,417 | -1.6% |
| Amounts payable within one year | 42/48 | €219,153 | €215,736 | -€3,417 | -1.6% |
| Trade debts | 44 | €143,528 | €144,243 | +€715 | +0.5% |
| Suppliers | 440/4 | €143,528 | €144,243 | +€715 | +0.5% |
| Taxes, remuneration and social security | 45 | €75,625 | €71,493 | -€4,132 | -5.5% |
| Taxes | 450/3 | €31,077 | €17,033 | -€14,044 | -45.2% |
| Remuneration and social security | 454/9 | €44,548 | €54,460 | +€9,912 | +22.3% |
| Remuneration, social security and pensions | 62 | €213,670 | €231,174 | +€17,504 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,400 | €3,400 | = | 0.0% |
| Other operating charges | 640/8 | €1,083 | €1,223 | +€140 | +12.9% |
| Gross operating margin | 9900 | €324,980 | €291,477 | -€33,503 | -10.3% |
| Operating profit (loss) | 9901 | €106,827 | €55,680 | -€51,147 | -47.9% |
| Financial income | 75/76B | €19 | €152 | +€133 | +706% |
| Recurring financial income | 75 | €19 | €152 | +€133 | +706% |
| Financial charges | 65/66B | €270 | €307 | +€38 | +14.0% |
| Recurring financial charges | 65 | €270 | €307 | +€38 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €106,577 | €55,525 | -€51,052 | -47.9% |
| Income taxes | 67/77 | €31,082 | €17,079 | -€14,003 | -45.1% |
| Profit (loss) for the period | 9904 | €75,495 | €38,446 | -€37,049 | -49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,495 | €38,446 | -€37,049 | -49.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.