Fred & Louis: what changed
Fred & Louis
Largest movements
- Stocks and contracts -€5,425
down €5,425 (-16.7%), from €32,523 to €27,098
- Receivables within one year -€4,974
down €4,974 (-49.8%), from €9,981 to €5,007
of which Trade receivables: -€3,123
- Intangible fixed assets -€4,671
down €4,671 (-100%), from €4,671 to €0
- Tangible fixed assets -€3,575
down €3,575 (-36.3%), from €9,841 to €6,266
of which Plant, machinery and equipment: -€3,222
- Cash +€1,434
up €1,434 (+31.0%), from €4,623 to €6,057
mainly Depreciation (+€8,246) and Net result for the year (+€8,094)
- Other debts -€15,000
down €15,000 (-99.8%), from €15,034 to €34
- Debts after one year -€10,606
down €10,606 (-21.5%), from €49,310 to €38,704
- Profit (loss) carried forward +€8,094
up €8,094 (+33.2%), from -€24,395 to -€16,301
- Trade debts -€817
down €817 (-53.7%), from €1,521 to €704
- Gross operating margin +€9,305
up €9,305 (+64.5%), from €14,419 to €23,724
- Other operating charges +€3,288
up €3,288 (+133%), from €2,463 to €5,751
- Depreciation -€2,096
down €2,096 (-20.3%), from €10,342 to €8,246
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,251 | €44,429 | -€17,822 | -28.6% |
| Fixed assets | 21/28 | €14,512 | €6,266 | -€8,246 | -56.8% |
| Intangible fixed assets | 21 | €4,671 | €0 | -€4,671 | -100% |
| Tangible fixed assets | 22/27 | €9,841 | €6,266 | -€3,575 | -36.3% |
| Plant, machinery and equipment | 23 | €8,588 | €5,367 | -€3,222 | -37.5% |
| Furniture and vehicles | 24 | €1,253 | €900 | -€353 | -28.2% |
| Current assets | 29/58 | €47,739 | €38,162 | -€9,576 | -20.1% |
| Stocks and contracts in progress | 3 | €32,523 | €27,098 | -€5,425 | -16.7% |
| Stocks | 30/36 | €32,523 | €27,098 | -€5,425 | -16.7% |
| Amounts receivable within one year | 40/41 | €9,981 | €5,007 | -€4,974 | -49.8% |
| Trade receivables | 40 | €8,115 | €4,992 | -€3,123 | -38.5% |
| Other amounts receivable | 41 | €1,866 | €15 | -€1,851 | -99.2% |
| Cash at bank and in hand | 54/58 | €4,623 | €6,057 | +€1,434 | +31.0% |
| Deferred charges and accrued income | 490/1 | €612 | €0 | -€612 | -100% |
| Total equity and liabilities | 10/49 | €62,251 | €44,429 | -€17,822 | -28.6% |
| Equity | 10/15 | -€15,395 | -€7,301 | +€8,094 | +52.6% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,395 | -€16,301 | +€8,094 | +33.2% |
| Amounts payable | 17/49 | €77,647 | €51,730 | -€25,916 | -33.4% |
| Amounts payable after more than one year | 17 | €49,310 | €38,704 | -€10,606 | -21.5% |
| Financial debts | 170/4 | €49,310 | €38,704 | -€10,606 | -21.5% |
| Amounts payable within one year | 42/48 | €28,337 | €13,026 | -€15,311 | -54.0% |
| Current portion of amounts payable after more than one year | 42 | €10,415 | €10,606 | +€191 | +1.8% |
| Trade debts | 44 | €1,521 | €704 | -€817 | -53.7% |
| Suppliers | 440/4 | €1,521 | €704 | -€817 | -53.7% |
| Taxes, remuneration and social security | 45 | €1,367 | €1,682 | +€315 | +23.1% |
| Taxes | 450/3 | €1,367 | €1,682 | +€315 | +23.1% |
| Other amounts payable | 47/48 | €15,034 | €34 | -€15,000 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,342 | €8,246 | -€2,096 | -20.3% |
| Other operating charges | 640/8 | €2,463 | €5,751 | +€3,288 | +133% |
| Gross operating margin | 9900 | €14,419 | €23,724 | +€9,305 | +64.5% |
| Operating profit (loss) | 9901 | €1,614 | €9,727 | +€8,113 | +503% |
| Financial charges | 65/66B | €1,541 | €1,632 | +€92 | +5.9% |
| Recurring financial charges | 65 | €1,541 | €1,632 | +€92 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €73 | €8,094 | +€8,021 | +10,964% |
| Profit (loss) for the period | 9904 | €73 | €8,094 | +€8,021 | +10,964% |
| Profit (loss) for the period to be appropriated | 9905 | €73 | €8,094 | +€8,021 | +10,964% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.