Alexandre Frisée: 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.
Alexandre Frisée
Largest movements
- Tangible fixed assets +€15,895
up €15,895 (+60.1%), from €26,460 to €42,355
of which Furniture and vehicles: +€14,542
- Cash +€15,565
up €15,565 (+20.3%), from €76,689 to €92,254
mainly Net result for the year (+€28,746) and Depreciation (+€13,905)
- Receivables within one year -€5,510
down €5,510 (-10.8%), from €51,049 to €45,539
of which Trade receivables: -€23,270
- Stocks and contracts -€4,231
down €4,231 (-100%), from €4,231 to €0
- Trade debts +€12,560
up €12,560 (+49.7%), from €25,279 to €37,839
- Current portion of long-term debt +€7,131
up €7,131 (+127%), from €5,603 to €12,735
- Debts after one year +€3,784
up €3,784 (+29.4%), from €12,885 to €16,669
- Profit (loss) carried forward -€3,421
down €3,421 (-100%), from €3,421 to €0
- Other debts +€1,826
up €1,826 (+2.0%), from €90,560 to €92,386
- Gross operating margin -€19,680
down €19,680 (-27.3%), from €72,073 to €52,393
- Taxes -€8,106
down €8,106 (-52.9%), from €15,322 to €7,216
- Depreciation +€7,412
up €7,412 (+114%), from €6,492 to €13,905
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 | €159,947 | €180,329 | +€20,382 | +12.7% |
| Fixed assets | 21/28 | €26,640 | €42,535 | +€15,895 | +59.7% |
| Tangible fixed assets | 22/27 | €26,460 | €42,355 | +€15,895 | +60.1% |
| Plant, machinery and equipment | 23 | €2,696 | €4,049 | +€1,353 | +50.2% |
| Furniture and vehicles | 24 | €23,764 | €38,306 | +€14,542 | +61.2% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €133,307 | €137,794 | +€4,486 | +3.4% |
| Stocks and contracts in progress | 3 | €4,231 | €0 | -€4,231 | -100% |
| Stocks | 30/36 | €4,231 | €0 | -€4,231 | -100% |
| Amounts receivable within one year | 40/41 | €51,049 | €45,539 | -€5,510 | -10.8% |
| Trade receivables | 40 | €40,042 | €16,772 | -€23,270 | -58.1% |
| Other amounts receivable | 41 | €11,007 | €28,767 | +€17,761 | +161% |
| Cash at bank and in hand | 54/58 | €76,689 | €92,254 | +€15,565 | +20.3% |
| Deferred charges and accrued income | 490/1 | €1,338 | €0 | -€1,338 | -100% |
| Total equity and liabilities | 10/49 | €159,947 | €180,329 | +€20,382 | +12.7% |
| Equity | 10/15 | €22,021 | €18,600 | -€3,421 | -15.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,421 | €0 | -€3,421 | -100% |
| Amounts payable | 17/49 | €137,927 | €161,729 | +€23,802 | +17.3% |
| Amounts payable after more than one year | 17 | €12,885 | €16,669 | +€3,784 | +29.4% |
| Financial debts | 170/4 | €12,885 | €16,669 | +€3,784 | +29.4% |
| Amounts payable within one year | 42/48 | €125,042 | €145,060 | +€20,018 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €5,603 | €12,735 | +€7,131 | +127% |
| Trade debts | 44 | €25,279 | €37,839 | +€12,560 | +49.7% |
| Suppliers | 440/4 | €25,279 | €37,839 | +€12,560 | +49.7% |
| Taxes, remuneration and social security | 45 | €3,600 | €2,100 | -€1,500 | -41.7% |
| Taxes | 450/3 | €2,100 | €2,100 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100% |
| Other amounts payable | 47/48 | €90,560 | €92,386 | +€1,826 | +2.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,492 | €13,905 | +€7,412 | +114% |
| Other operating charges | 640/8 | €799 | €976 | +€178 | +22.3% |
| Gross operating margin | 9900 | €72,073 | €52,393 | -€19,680 | -27.3% |
| Operating profit (loss) | 9901 | €64,782 | €37,512 | -€27,270 | -42.1% |
| Financial charges | 65/66B | €1,155 | €1,550 | +€395 | +34.2% |
| Recurring financial charges | 65 | €1,155 | €1,550 | +€395 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | €63,628 | €35,962 | -€27,665 | -43.5% |
| Income taxes | 67/77 | €15,322 | €7,216 | -€8,106 | -52.9% |
| Profit (loss) for the period | 9904 | €48,305 | €28,746 | -€19,559 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,305 | €28,746 | -€19,559 | -40.5% |
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 25 October 2026 via checked.be.