FRED & BREW: 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.
FRED & BREW
Largest movements
- Receivables within one year +€74,555
up €74,555 (+31.5%), from €236,789 to €311,344
of which Other amounts receivable: +€88,225
- Tangible fixed assets -€5,344
down €5,344 (-41.7%), from €12,819 to €7,475
- Cash +€4,567
up €4,567 (+23.1%), from €19,743 to €24,309
mainly Other debts (+€63,080) and Trade debts (+€13,447)
- Other debts +€63,080
up €63,080 (+18.2%), from €345,950 to €409,030
- Trade debts +€13,447
up €13,447 (+51.2%), from €26,255 to €39,702
of which Bills of exchange payable: +€10,000
- Tax, wage and social debts -€5,065
down €5,065 (-86.0%), from €5,888 to €823
- Gross operating margin +€22,612
up €22,612, from -€14,664 to €7,948
- Financial income +€5,944
up €5,944, from €0 to €5,944
- Depreciation +€1,792
up €1,792 (+25.3%), from €7,088 to €8,880
- Taxes +€1,234
up €1,234 (+518.5%), from €238 to €1,472
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 | €357,977 | €431,802 | +€73,825 | +20.6% |
| Fixed assets | 21/28 | €100,735 | €95,392 | -€5,344 | -5.3% |
| Tangible fixed assets | 22/27 | €12,819 | €7,475 | -€5,344 | -41.7% |
| Furniture and vehicles | 24 | €12,819 | €7,475 | -€5,344 | -41.7% |
| Financial fixed assets | 28 | €87,917 | €87,917 | = | 0.0% |
| Current assets | 29/58 | €257,242 | €336,411 | +€79,169 | +30.8% |
| Amounts receivable within one year | 40/41 | €236,789 | €311,344 | +€74,555 | +31.5% |
| Trade receivables | 40 | €25,000 | €11,330 | -€13,670 | -54.7% |
| Other amounts receivable | 41 | €211,789 | €300,014 | +€88,225 | +41.7% |
| Cash at bank and in hand | 54/58 | €19,743 | €24,309 | +€4,567 | +23.1% |
| Deferred charges and accrued income | 490/1 | €711 | €757 | +€47 | +6.5% |
| Total equity and liabilities | 10/49 | €357,977 | €431,802 | +€73,825 | +20.6% |
| Equity | 10/15 | -€20,116 | -€17,754 | +€2,363 | +11.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,116 | -€20,754 | +€2,363 | +10.2% |
| Amounts payable | 17/49 | €378,094 | €449,556 | +€71,462 | +18.9% |
| Amounts payable within one year | 42/48 | €378,094 | €449,556 | +€71,462 | +18.9% |
| Trade debts | 44 | €26,255 | €39,702 | +€13,447 | +51.2% |
| Suppliers | 440/4 | €1,255 | €4,702 | +€3,447 | +274.7% |
| Bills of exchange payable | 441 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Taxes, remuneration and social security | 45 | €5,888 | €823 | -€5,065 | -86.0% |
| Taxes | 450/3 | €5,888 | €823 | -€5,065 | -86.0% |
| Other amounts payable | 47/48 | €345,950 | €409,030 | +€63,080 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,088 | €8,880 | +€1,792 | +25.3% |
| Other operating charges | 640/8 | €984 | €1,016 | +€32 | +3.3% |
| Gross operating margin | 9900 | -€14,664 | €7,948 | +€22,612 | |
| Operating profit (loss) | 9901 | -€22,736 | -€1,948 | +€20,788 | +91.4% |
| Financial income | 75/76B | €0 | €5,944 | +€5,944 | |
| Recurring financial income | 75 | €0 | €5,944 | +€5,944 | |
| Financial charges | 65/66B | €142 | €161 | +€19 | +13.5% |
| Recurring financial charges | 65 | €142 | €161 | +€19 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | -€22,878 | €3,835 | +€26,713 | |
| Income taxes | 67/77 | €238 | €1,472 | +€1,234 | +518.5% |
| Profit (loss) for the period | 9904 | -€23,116 | €2,363 | +€25,479 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,116 | €2,363 | +€25,479 |
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 10 October 2026 via checked.be.