FRIEDMANN
Annual accounts 2025
abbreviated format, filed on 21-08-2026, 21 days lateTurnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €270,000. Estimated: probably between €220,000 and €350,000.
Balance sheet
balance sheet total €18.7m on 31-12-2025in €m
in euro
Position in the sector
34.0%
Higher than 34% of 10,857 companies in 2025.
21.94
Higher than 95% of 10,479 companies in 2025.
11.1%
Higher than 67% of 10,726 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
18.7m | 16.9m | 14.1m | 14.6m | |
21/28 |
13.6m | 13.6m | 13.6m | 13.6m | |
28 |
13.6m | 13.6m | 13.6m | 13.6m | |
29/58 |
5.1m | 3.3m | 511,591 | 982,358 | |
40/41 |
4.9m | 2.9m | 50,490 | 36,845 | |
40 |
36,300 | 36,300 | 50,490 | 36,845 | |
41 |
4.9m | 2.9m | - | - | |
54/58 |
248,528 | 433,094 | 461,101 | 945,513 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
18.7m | 16.9m | 14.1m | 14.6m | |
10/15 |
6.4m | 4.3m | 450,219 | 97,550 | |
10/11 |
30,000 | 30,000 | 30,000 | 30,000 | |
14 |
6.3m | 4.3m | 420,219 | 67,550 | |
17/49 |
12.4m | 12.7m | 13.7m | 14.5m | |
17 |
12.1m | 12.4m | 13.3m | 14.2m | |
170/4 |
12.1m | 12.4m | 13.3m | 14.2m | |
42/48 |
234,470 | 222,772 | 324,741 | 250,377 | |
42 |
195,419 | 191,572 | 187,800 | 184,103 | |
44 |
130 | 1,133 | 80,237 | 450 | |
440/4 |
130 | 1,133 | 80,237 | 450 | |
45 |
17,464 | 26,944 | 24,126 | 36,187 | |
450/3 |
17,464 | 26,944 | 24,126 | 36,187 | |
47/48 |
21,457 | 3,124 | 32,577 | 29,637 | |
| Income statement | |||||
9900 |
169,482 | 176,991 | 176,728 | 110,893 | |
640/8 |
1,094 | 1,014 | 384 | 348 | |
66A |
- | 1,035 | - | - | |
9901 |
168,388 | 174,943 | 176,344 | 110,545 | |
75/76B |
2.0m | 3.7m | 250,000 | 55 | |
75 |
2.0m | 3.7m | 250,000 | 55 | |
65/66B |
29,893 | 33,785 | 37,397 | 18,460 | |
65 |
29,893 | 33,785 | 37,397 | 18,460 | |
9903 |
2.1m | 3.9m | 388,946 | 92,139 | |
67/77 |
34,624 | 35,299 | 36,276 | 24,590 | |
9904 |
2.1m | 3.8m | 352,670 | 67,550 | |
9905 |
2.1m | 3.8m | 352,670 | 67,550 | |
| Appropriation of the result | |||||
9906 |
6.3m | 4.3m | 420,219 | 67,550 | |
14P |
4.3m | 420,219 | 67,550 | - | |
| Document | |||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 21-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 21 days after the deadline. Filed on 21 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00412785.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| - | - | - | 13.6m | ||
| -184,565 | -28,007 | -484,412 | - | ||
| 4.9m | 3.1m | 186,850 | 731,981 | ||
| 34.0% | 25.3% | 3.2% | 0.7% | ||
| 21.94 | 15.04 | 1.58 | 3.92 | ||
| 1.95 | 2.95 | 30.34 | - | ||
| 32.7% | 89.5% | 78.3% | 69.2% | ||
| 11.1% | 22.6% | 2.5% | 0.5% |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Financial fixed assets | - | - | - | €13.6m |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on FRIEDMANN
The operating result for 2025 is 4% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 74.7% to 66.0%. Equity is higher and debt is lower.