FREYOL: 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.
FREYOL
Largest movements
- Financial fixed assets +€471,652
up €471,652 (+303%), from €155,497 to €627,150
- Cash -€347,307
down €347,307 (-71.1%), from €488,550 to €141,243
mainly Investment in fixed assets (net) (-€514,032) and Current investments (-€244,866)
- Current investments +€244,866
up €244,866 (+3,789%), from €6,462 to €251,327
- Receivables within one year +€225,722
up €225,722 (+665%), from €33,941 to €259,663
of which Trade receivables: +€223,334
- Tangible fixed assets +€36,899
new in 2025: €36,899
of which Furniture and vehicles: +€31,355
- Reserves +€526,874
up €526,874 (+90.3%), from €583,660 to €1.1m
- Tax, wage and social debts +€84,905
up €84,905 (+97.6%), from €86,949 to €171,854
- Trade debts +€23,028
up €23,028 (+2,296%), from €1,003 to €24,031
- Gross operating margin -€31,504
down €31,504 (-3.9%), from €800,257 to €768,753
- Financial income -€29,164
down €29,164 (-75.1%), from €38,834 to €9,670
- Taxes -€9,543
down €9,543 (-3.7%), from €255,044 to €245,501
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 | €684,450 | €1,316,519 | +€632,070 | +92.3% |
| Fixed assets | 21/28 | €155,497 | €664,049 | +€508,552 | +327% |
| Tangible fixed assets | 22/27 | - | €36,899 | +€36,899 | |
| Plant, machinery and equipment | 23 | - | €5,544 | +€5,544 | |
| Furniture and vehicles | 24 | - | €31,355 | +€31,355 | |
| Financial fixed assets | 28 | €155,497 | €627,150 | +€471,652 | +303% |
| Current assets | 29/58 | €528,952 | €652,470 | +€123,518 | +23.4% |
| Amounts receivable within one year | 40/41 | €33,941 | €259,663 | +€225,722 | +665% |
| Trade receivables | 40 | €32,025 | €255,358 | +€223,334 | +697% |
| Other amounts receivable | 41 | €1,916 | €4,304 | +€2,388 | +125% |
| Current investments | 50/53 | €6,462 | €251,327 | +€244,866 | +3,789% |
| Cash at bank and in hand | 54/58 | €488,550 | €141,243 | -€347,307 | -71.1% |
| Deferred charges and accrued income | 490/1 | - | €238 | +€238 | |
| Total equity and liabilities | 10/49 | €684,450 | €1,316,519 | +€632,070 | +92.3% |
| Equity | 10/15 | €593,760 | €1,120,634 | +€526,874 | +88.7% |
| Contributions | 10/11 | €10,100 | €10,100 | = | 0.0% |
| Reserves | 13 | €583,660 | €1,110,534 | +€526,874 | +90.3% |
| Distributable reserves | 133 | €583,660 | €1,110,534 | +€526,874 | +90.3% |
| Amounts payable | 17/49 | €90,689 | €195,885 | +€105,196 | +116% |
| Amounts payable within one year | 42/48 | €90,689 | €195,885 | +€105,196 | +116% |
| Financial debts | 43 | €2,737 | €0 | -€2,737 | -100% |
| Credit institutions | 430/8 | €2,737 | €0 | -€2,737 | -100% |
| Trade debts | 44 | €1,003 | €24,031 | +€23,028 | +2,296% |
| Suppliers | 440/4 | €1,003 | €24,031 | +€23,028 | +2,296% |
| Taxes, remuneration and social security | 45 | €86,949 | €171,854 | +€84,905 | +97.6% |
| Taxes | 450/3 | €86,949 | €171,854 | +€84,905 | +97.6% |
| Non-recurring operating income | 76A | - | €15,511 | +€15,511 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,480 | +€5,480 | |
| Other operating charges | 640/8 | €387 | €520 | +€132 | +34.2% |
| Gross operating margin | 9900 | €800,257 | €768,753 | -€31,504 | -3.9% |
| Operating profit (loss) | 9901 | €799,869 | €762,753 | -€37,117 | -4.6% |
| Financial income | 75/76B | €38,834 | €9,670 | -€29,164 | -75.1% |
| Recurring financial income | 75 | €38,834 | €9,670 | -€29,164 | -75.1% |
| Financial charges | 65/66B | - | €49 | +€49 | |
| Recurring financial charges | 65 | - | €49 | +€49 | |
| Profit (loss) for the period before taxes | 9903 | €838,704 | €772,374 | -€66,329 | -7.9% |
| Income taxes | 67/77 | €255,044 | €245,501 | -€9,543 | -3.7% |
| Profit (loss) for the period | 9904 | €583,660 | €526,874 | -€56,786 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €583,660 | €526,874 | -€56,786 | -9.7% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.