FRED&FERRY: what changed
Two fiscal 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&FERRY
Largest movements
- Cash -€3,632
down €3,632 (-17.8%), from €20,407 to €16,775
mainly Net result for the year (-€59,717) and Tax, wage and social debts (-€2,220)
- Receivables within one year +€798
up €798 (+15.6%), from €5,122 to €5,920
of which Other amounts receivable: +€3,294
- Tangible fixed assets -€554
down €554 (-40.8%), from €1,359 to €805
- Debts after one year +€60,039
up €60,039 (+19.4%), from €310,050 to €370,088
- Profit (loss) carried forward -€59,717
down €59,717 (-17.9%), from -€333,922 to -€393,639
- Tax, wage and social debts -€2,220
no longer reported in 2025 (was €2,220)
- Trade debts -€1,531
down €1,531 (-38.9%), from €3,939 to €2,408
- Gross operating margin +€43,810
up €43,810 (+43.2%), from -€101,508 to -€57,698
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 | €32,286 | €28,857 | -€3,429 | -10.6% |
| Fixed assets | 21/28 | €1,359 | €805 | -€554 | -40.8% |
| Tangible fixed assets | 22/27 | €1,359 | €805 | -€554 | -40.8% |
| Plant, machinery and equipment | 23 | €1,359 | €805 | -€554 | -40.8% |
| Current assets | 29/58 | €30,927 | €28,052 | -€2,875 | -9.3% |
| Amounts receivable within one year | 40/41 | €5,122 | €5,920 | +€798 | +15.6% |
| Trade receivables | 40 | €5,122 | €2,626 | -€2,496 | -48.7% |
| Other amounts receivable | 41 | - | €3,294 | +€3,294 | |
| Cash at bank and in hand | 54/58 | €20,407 | €16,775 | -€3,632 | -17.8% |
| Deferred charges and accrued income | 490/1 | €5,398 | €5,357 | -€41 | -0.8% |
| Total equity and liabilities | 10/49 | €32,286 | €28,857 | -€3,429 | -10.6% |
| Equity | 10/15 | -€283,922 | -€343,639 | -€59,717 | -21.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€333,922 | -€393,639 | -€59,717 | -17.9% |
| Amounts payable | 17/49 | €316,209 | €372,496 | +€56,287 | +17.8% |
| Amounts payable after more than one year | 17 | €310,050 | €370,088 | +€60,039 | +19.4% |
| Other amounts payable | 178/9 | €310,050 | €370,088 | +€60,039 | +19.4% |
| Amounts payable within one year | 42/48 | €6,159 | €2,408 | -€3,751 | -60.9% |
| Trade debts | 44 | €3,939 | €2,408 | -€1,531 | -38.9% |
| Suppliers | 440/4 | €3,939 | €2,408 | -€1,531 | -38.9% |
| Taxes, remuneration and social security | 45 | €2,220 | - | -€2,220 | |
| Taxes | 450/3 | €2,220 | - | -€2,220 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €554 | €554 | = | 0.0% |
| Other operating charges | 640/8 | €1,539 | €1,586 | +€47 | +3.1% |
| Gross operating margin | 9900 | -€101,508 | -€57,698 | +€43,810 | +43.2% |
| Operating profit (loss) | 9901 | -€103,601 | -€59,838 | +€43,763 | +42.2% |
| Financial income | 75/76B | €70 | €344 | +€274 | +393.7% |
| Recurring financial income | 75 | €70 | €344 | +€274 | +393.7% |
| Financial charges | 65/66B | €564 | €223 | -€341 | -60.5% |
| Recurring financial charges | 65 | €564 | €223 | -€341 | -60.5% |
| Profit (loss) for the period before taxes | 9903 | -€104,095 | -€59,717 | +€44,378 | +42.6% |
| Profit (loss) for the period | 9904 | -€104,095 | -€59,717 | +€44,378 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€104,095 | -€59,717 | +€44,378 | +42.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.