DAD FRERES: 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.
DAD FRERES
Largest movements
- Cash -€995,792
down €995,792 (-56.7%), from €1.8m to €760,003
mainly Other debts (-€706,078) and Tax, wage and social debts (-€270,930)
- Tangible fixed assets -€197,952
down €197,952 (-18.3%), from €1.1m to €885,030
- Stocks and contracts +€57,045
up €57,045 (+9.7%), from €588,159 to €645,205
- Other debts -€706,078
down €706,078 (-89.9%), from €785,339 to €79,261
- Tax, wage and social debts -€270,930
down €270,930 (-53.0%), from €510,865 to €239,936
of which Taxes: -€244,265
- Debts after one year -€200,942
down €200,942 (-42.4%), from €473,908 to €272,966
- Reserves +€152,000
up €152,000 (+62.5%), from €243,390 to €395,390
of which Distributable reserves: +€189,890
- Short-term financial debts -€70,000
down €70,000 (-100.0%), from €70,000 to €0
- Gross operating margin -€141,172
down €141,172 (-8.4%), from €1.7m to €1.5m
- Other operating charges -€92,645
down €92,645 (-75.1%), from €123,416 to €30,770
- Staff costs -€24,725
down €24,725 (-2.7%), from €911,187 to €886,462
- Depreciation -€18,188
down €18,188 (-7.2%), from €251,464 to €233,276
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.
Cash bridge derived
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 | €3,674,070 | €2,521,802 | -€1.2m | -31.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,082,982 | €885,030 | -€197,952 | -18.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,082,982 | €885,030 | -€197,952 | -18.3% |
| Land and buildings | 22 | €697,275 | €602,679 | -€94,596 | -13.6% |
| Plant, machinery and equipment | 23 | €213,438 | €156,400 | -€57,038 | -26.7% |
| Furniture and vehicles | 24 | €172,268 | €125,951 | -€46,317 | -26.9% |
| Current assets | 29/58 | €2,591,088 | €1,636,772 | -€954,316 | -36.8% |
| Stocks and contracts in progress | 3 | €588,159 | €645,205 | +€57,045 | +9.7% |
| Stocks | 30/36 | €588,159 | €645,205 | +€57,045 | +9.7% |
| Amounts receivable within one year | 40/41 | €231,892 | €218,968 | -€12,924 | -5.6% |
| Trade receivables | 40 | €207,482 | €193,586 | -€13,896 | -6.7% |
| Other amounts receivable | 41 | €24,409 | €25,382 | +€973 | +4.0% |
| Cash at bank and in hand | 54/58 | €1,755,795 | €760,003 | -€995,792 | -56.7% |
| Deferred charges and accrued income | 490/1 | €15,242 | €12,596 | -€2,646 | -17.4% |
| Total equity and liabilities | 10/49 | €3,674,070 | €2,521,802 | -€1.2m | -31.4% |
| Equity | 10/15 | €443,743 | €596,905 | +€153,162 | +34.5% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €243,390 | €395,390 | +€152,000 | +62.5% |
| Non-distributable reserves | 130/1 | €38,000 | €38,000 | = | 0.0% |
| Legal reserve | 130 | €38,000 | €38,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,890 | - | -€37,890 | |
| Distributable reserves | 133 | €167,500 | €357,390 | +€189,890 | +113.4% |
| Profit (loss) carried forward | 14 | €353 | €1,515 | +€1,162 | +328.9% |
| Amounts payable | 17/49 | €3,230,327 | €1,924,897 | -€1.3m | -40.4% |
| Amounts payable after more than one year | 17 | €473,908 | €272,966 | -€200,942 | -42.4% |
| Financial debts | 170/4 | €473,908 | €272,966 | -€200,942 | -42.4% |
| Amounts payable within one year | 42/48 | €2,756,419 | €1,651,931 | -€1.1m | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €238,800 | €201,281 | -€37,520 | -15.7% |
| Financial debts | 43 | €70,000 | €0 | -€70,000 | -100.0% |
| Credit institutions | 430/8 | €70,000 | €0 | -€70,000 | -100.0% |
| Trade debts | 44 | €1,151,414 | €1,131,454 | -€19,960 | -1.7% |
| Suppliers | 440/4 | €1,151,414 | €1,131,454 | -€19,960 | -1.7% |
| Taxes, remuneration and social security | 45 | €510,865 | €239,936 | -€270,930 | -53.0% |
| Taxes | 450/3 | €333,156 | €88,891 | -€244,265 | -73.3% |
| Remuneration and social security | 454/9 | €177,709 | €151,045 | -€26,665 | -15.0% |
| Other amounts payable | 47/48 | €785,339 | €79,261 | -€706,078 | -89.9% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €911,187 | €886,462 | -€24,725 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €251,464 | €233,276 | -€18,188 | -7.2% |
| Other operating charges | 640/8 | €123,416 | €30,770 | -€92,645 | -75.1% |
| Gross operating margin | 9900 | €1,673,166 | €1,531,994 | -€141,172 | -8.4% |
| Operating profit (loss) | 9901 | €387,099 | €381,485 | -€5,613 | -1.5% |
| Financial income | 75/76B | €9,478 | €581 | -€8,897 | -93.9% |
| Recurring financial income | 75 | €9,478 | €581 | -€8,897 | -93.9% |
| Financial charges | 65/66B | €17,017 | €17,499 | +€482 | +2.8% |
| Recurring financial charges | 65 | €17,017 | €17,499 | +€482 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €379,560 | €364,568 | -€14,993 | -3.9% |
| Income taxes | 67/77 | €111,940 | €111,406 | -€534 | -0.5% |
| Profit (loss) for the period | 9904 | €267,620 | €253,162 | -€14,458 | -5.4% |
| Transfer from tax-exempt reserves | 789 | - | €37,890 | +€37,890 | |
| Profit (loss) for the period to be appropriated | 9905 | €267,620 | €291,052 | +€23,432 | +8.8% |
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 11 October 2026 via checked.be.