FREEE: 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.
FREEE
Largest movements
- Cash -€136,589
down €136,589 (-87.5%), from €156,119 to €19,530
mainly Net result for the year (-€149,571) and Investment in fixed assets (net) (-€47,122)
- Tangible fixed assets -€19,532
down €19,532 (-1.2%), from €1.7m to €1.7m
of which Land and buildings: -€30,677
- Profit (loss) carried forward -€149,571
down €149,571 (-68.3%), from €219,137 to €69,566
- Gross operating margin -€287,984
down €287,984 (-84.0%), from €342,670 to €54,686
- Staff costs +€38,448
up €38,448 (+137%), from €28,053 to €66,501
- Taxes -€36,264
no longer reported in 2025 (was €36,264)
- Financial charges +€11,739
up €11,739 (+21.8%), from €53,828 to €65,567
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 | €1,858,818 | €1,711,709 | -€147,110 | -7.9% |
| Fixed assets | 21/28 | €1,676,479 | €1,656,947 | -€19,532 | -1.2% |
| Tangible fixed assets | 22/27 | €1,676,479 | €1,656,947 | -€19,532 | -1.2% |
| Land and buildings | 22 | €1,644,882 | €1,614,205 | -€30,677 | -1.9% |
| Plant, machinery and equipment | 23 | - | €5,569 | +€5,569 | |
| Furniture and vehicles | 24 | €31,596 | €37,172 | +€5,575 | +17.6% |
| Current assets | 29/58 | €182,339 | €54,762 | -€127,578 | -70.0% |
| Amounts receivable within one year | 40/41 | €26,003 | €35,232 | +€9,229 | +35.5% |
| Trade receivables | 40 | €26,003 | €35,232 | +€9,229 | +35.5% |
| Cash at bank and in hand | 54/58 | €156,119 | €19,530 | -€136,589 | -87.5% |
| Deferred charges and accrued income | 490/1 | €218 | - | -€218 | |
| Total equity and liabilities | 10/49 | €1,858,818 | €1,711,709 | -€147,110 | -7.9% |
| Equity | 10/15 | €224,137 | €74,566 | -€149,571 | -66.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €219,137 | €69,566 | -€149,571 | -68.3% |
| Amounts payable | 17/49 | €1,634,681 | €1,637,143 | +€2,461 | +0.2% |
| Amounts payable after more than one year | 17 | €1,384,605 | €1,373,991 | -€10,615 | -0.8% |
| Financial debts | 170/4 | €1,384,605 | €1,373,991 | -€10,615 | -0.8% |
| Amounts payable within one year | 42/48 | €250,076 | €263,152 | +€13,076 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €70,387 | €74,318 | +€3,931 | +5.6% |
| Trade debts | 44 | €33,842 | €36,115 | +€2,273 | +6.7% |
| Suppliers | 440/4 | €33,842 | €36,115 | +€2,273 | +6.7% |
| Taxes, remuneration and social security | 45 | €43,254 | €59,391 | +€16,137 | +37.3% |
| Taxes | 450/3 | €39,007 | €42,709 | +€3,702 | +9.5% |
| Remuneration and social security | 454/9 | €4,246 | €16,682 | +€12,436 | +293% |
| Other amounts payable | 47/48 | €102,592 | €93,327 | -€9,266 | -9.0% |
| Remuneration, social security and pensions | 62 | €28,053 | €66,501 | +€38,448 | +137% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,458 | €66,654 | -€804 | -1.2% |
| Other operating charges | 640/8 | €6,451 | €5,539 | -€912 | -14.1% |
| Gross operating margin | 9900 | €342,670 | €54,686 | -€287,984 | -84.0% |
| Operating profit (loss) | 9901 | €240,709 | -€84,008 | -€324,717 | |
| Financial income | 75/76B | €0 | €4 | +€4 | +39,900% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +39,900% |
| Financial charges | 65/66B | €53,828 | €65,567 | +€11,739 | +21.8% |
| Recurring financial charges | 65 | €53,828 | €65,567 | +€11,739 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €186,880 | -€149,571 | -€336,452 | |
| Income taxes | 67/77 | €36,264 | - | -€36,264 | |
| Profit (loss) for the period | 9904 | €150,616 | -€149,571 | -€300,188 | |
| Profit (loss) for the period to be appropriated | 9905 | €150,616 | -€149,571 | -€300,188 |
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 20 October 2026 via checked.be.