EURO FRERE: 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.
EURO FRERE
Largest movements
- Stocks and contracts +€29,232
up €29,232 (+50.5%), from €57,927 to €87,159
- Cash -€6,842
down €6,842 (-84.1%), from €8,140 to €1,298
mainly Stocks and contracts (-€29,232) and Trade debts (-€7,088)
- Other debts +€27,128
up €27,128 (+772.2%), from €3,513 to €30,641
- Trade debts -€7,088
down €7,088 (-17.6%), from €40,314 to €33,226
- Short-term financial debts -€4,039
no longer reported in 2025 (was €4,039)
- Profit (loss) carried forward +€3,278
up €3,278 (+34.7%), from €9,456 to €12,734
- Tax, wage and social debts +€2,870
up €2,870 (+27.3%), from €10,499 to €13,369
of which Taxes: +€4,173
- Turnover -€68,125
down €68,125 (-19.6%), from €347,458 to €279,333
- Purchases and services -€46,416
down €46,416 (-15.4%), from €301,901 to €255,485
- Staff costs -€23,649
down €23,649 (-56.8%), from €41,634 to €17,985
- Gross operating margin -€21,709
down €21,709 (-47.7%), from €45,557 to €23,848
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 | €69,821 | €91,970 | +€22,149 | +31.7% |
| Fixed assets | 21/28 | €1,754 | €1,354 | -€400 | -22.8% |
| Tangible fixed assets | 22/27 | €1,754 | €1,354 | -€400 | -22.8% |
| Furniture and vehicles | 24 | €1,754 | €1,354 | -€400 | -22.8% |
| Current assets | 29/58 | €68,067 | €90,616 | +€22,549 | +33.1% |
| Stocks and contracts in progress | 3 | €57,927 | €87,159 | +€29,232 | +50.5% |
| Stocks | 30/36 | €57,927 | €87,159 | +€29,232 | +50.5% |
| Amounts receivable within one year | 40/41 | €2,000 | €2,159 | +€159 | +8.0% |
| Other amounts receivable | 41 | €2,000 | €2,159 | +€159 | +8.0% |
| Cash at bank and in hand | 54/58 | €8,140 | €1,298 | -€6,842 | -84.1% |
| Total equity and liabilities | 10/49 | €69,821 | €91,970 | +€22,149 | +31.7% |
| Equity | 10/15 | €11,456 | €14,734 | +€3,278 | +28.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,456 | €12,734 | +€3,278 | +34.7% |
| Amounts payable | 17/49 | €58,365 | €77,236 | +€18,871 | +32.3% |
| Amounts payable within one year | 42/48 | €58,365 | €77,236 | +€18,871 | +32.3% |
| Financial debts | 43 | €4,039 | - | -€4,039 | |
| Credit institutions | 430/8 | €4,039 | - | -€4,039 | |
| Trade debts | 44 | €40,314 | €33,226 | -€7,088 | -17.6% |
| Suppliers | 440/4 | €40,314 | €33,226 | -€7,088 | -17.6% |
| Taxes, remuneration and social security | 45 | €10,499 | €13,369 | +€2,870 | +27.3% |
| Taxes | 450/3 | €3,796 | €7,969 | +€4,173 | +109.9% |
| Remuneration and social security | 454/9 | €6,703 | €5,400 | -€1,303 | -19.4% |
| Other amounts payable | 47/48 | €3,513 | €30,641 | +€27,128 | +772.2% |
| Turnover | 70 | €347,458 | €279,333 | -€68,125 | -19.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €301,901 | €255,485 | -€46,416 | -15.4% |
| Remuneration, social security and pensions | 62 | €41,634 | €17,985 | -€23,649 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €246 | €400 | +€154 | +62.6% |
| Other operating charges | 640/8 | €609 | €1,168 | +€559 | +91.8% |
| Gross operating margin | 9900 | €45,557 | €23,848 | -€21,709 | -47.7% |
| Operating profit (loss) | 9901 | €3,068 | €4,295 | +€1,227 | +40.0% |
| Financial charges | 65/66B | €184 | €197 | +€13 | +7.1% |
| Recurring financial charges | 65 | €184 | €197 | +€13 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €2,884 | €4,098 | +€1,214 | +42.1% |
| Income taxes | 67/77 | - | €820 | +€820 | |
| Profit (loss) for the period | 9904 | €2,884 | €3,278 | +€394 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,884 | €3,278 | +€394 | +13.7% |
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 9 October 2026 via checked.be.