Frère Vastgoed: 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.
Frère Vastgoed
Largest movements
- Tangible fixed assets +€302,970
up €302,970 (+2,159%), from €14,033 to €317,003
of which Land and buildings: +€306,462
- Cash +€129,481
up €129,481 (+57.4%), from €225,552 to €355,033
mainly Debts after one year (+€256,677) and Net result for the year (+€188,140)
- Receivables within one year +€19,282
up €19,282 (+97.3%), from €19,818 to €39,100
of which Trade receivables: +€17,097
- Debts after one year +€256,677
new in 2025: €256,677
- Reserves +€188,140
up €188,140 (+80.1%), from €234,933 to €423,073
- Trade debts +€10,485
up €10,485 (+310%), from €3,379 to €13,863
- Gross operating margin +€117,273
up €117,273 (+63.0%), from €186,203 to €303,476
- Taxes +€31,452
up €31,452 (+60.1%), from €52,357 to €83,808
- Depreciation +€17,105
up €17,105 (+313%), from €5,464 to €22,570
- Financial charges +€4,569
up €4,569 (+153%), from €2,984 to €7,553
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.
Derived cash bridge
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 | €259,403 | €711,325 | +€451,923 | +174% |
| Fixed assets | 21/28 | €14,033 | €317,003 | +€302,970 | +2,159% |
| Tangible fixed assets | 22/27 | €14,033 | €317,003 | +€302,970 | +2,159% |
| Land and buildings | 22 | - | €306,462 | +€306,462 | |
| Plant, machinery and equipment | 23 | €6,972 | €4,826 | -€2,146 | -30.8% |
| Furniture and vehicles | 24 | €3,819 | €4,134 | +€315 | +8.2% |
| Other tangible fixed assets | 26 | €3,241 | €1,581 | -€1,661 | -51.2% |
| Current assets | 29/58 | €245,370 | €394,323 | +€148,953 | +60.7% |
| Amounts receivable within one year | 40/41 | €19,818 | €39,100 | +€19,282 | +97.3% |
| Trade receivables | 40 | €18,796 | €35,893 | +€17,097 | +91.0% |
| Other amounts receivable | 41 | €1,022 | €3,207 | +€2,185 | +214% |
| Cash at bank and in hand | 54/58 | €225,552 | €355,033 | +€129,481 | +57.4% |
| Deferred charges and accrued income | 490/1 | €0 | €190 | +€190 | |
| Total equity and liabilities | 10/49 | €259,403 | €711,325 | +€451,923 | +174% |
| Equity | 10/15 | €239,933 | €428,073 | +€188,140 | +78.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €234,933 | €423,073 | +€188,140 | +80.1% |
| Distributable reserves | 133 | €234,933 | €423,073 | +€188,140 | +80.1% |
| Amounts payable | 17/49 | €19,470 | €283,252 | +€263,783 | +1,355% |
| Amounts payable after more than one year | 17 | - | €256,677 | +€256,677 | |
| Financial debts | 170/4 | - | €256,677 | +€256,677 | |
| Amounts payable within one year | 42/48 | €19,470 | €26,575 | +€7,106 | +36.5% |
| Trade debts | 44 | €3,379 | €13,863 | +€10,485 | +310% |
| Suppliers | 440/4 | €3,379 | €13,863 | +€10,485 | +310% |
| Taxes, remuneration and social security | 45 | €15,294 | €12,712 | -€2,582 | -16.9% |
| Taxes | 450/3 | €15,294 | €12,712 | -€2,582 | -16.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €797 | €0 | -€797 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,464 | €22,570 | +€17,105 | +313% |
| Other operating charges | 640/8 | €1,359 | €1,405 | +€46 | +3.4% |
| Gross operating margin | 9900 | €186,203 | €303,476 | +€117,273 | +63.0% |
| Operating profit (loss) | 9901 | €179,380 | €279,501 | +€100,121 | +55.8% |
| Financial income | 75/76B | €33 | €0 | -€33 | -99.8% |
| Recurring financial income | 75 | €33 | €0 | -€33 | -99.8% |
| Financial charges | 65/66B | €2,984 | €7,553 | +€4,569 | +153% |
| Recurring financial charges | 65 | €2,984 | €7,553 | +€4,569 | +153% |
| Profit (loss) for the period before taxes | 9903 | €176,429 | €271,948 | +€95,519 | +54.1% |
| Income taxes | 67/77 | €52,357 | €83,808 | +€31,452 | +60.1% |
| Profit (loss) for the period | 9904 | €124,072 | €188,140 | +€64,068 | +51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €124,072 | €188,140 | +€64,068 | +51.6% |
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 19 October 2026 via checked.be.