FRESH: 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.
What changed
FRESH
NACE 46.160, Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€67,231
2024 · €49,047+€18,185
Equity
€881,680
2024 · €814,448+€67,231
Cash
€414,490
2024 · €412,636+€1,855
Balance sheet total
€1.2m
2024 · €1.2m+€7,722
Largest movements
Assets
- Receivables within one year +€90,978
up €90,978 (+41.9%), from €217,114 to €308,092
of which Other amounts receivable: +€105,662
- Tangible fixed assets -€85,525
down €85,525 (-15.0%), from €569,187 to €483,661
of which Land and buildings: -€69,228
Equity and liabilities
- Profit (loss) carried forward +€67,231
up €67,231 (+9.5%), from €705,301 to €772,532
- Debts after one year -€38,870
down €38,870 (-21.5%), from €180,641 to €141,771
Income statement
- Taxes +€30,813
up €30,813 (+106.6%), from €28,907 to €59,720
- Gross operating margin +€20,974
up €20,974 (+6.6%), from €319,847 to €340,821
- Depreciation -€17,555
down €17,555 (-19.9%), from €88,228 to €70,673
- Financial income +€7,279
up €7,279 (+116.3%), from €6,257 to €13,536
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.
Result 2024
€49,047
Gross operating margin
+€20,974
Staff costs
+€2,867
Depreciation
+€17,555
Other operating charges
-€2,047
Financial income
+€7,279
Financial charges
+€2,370
Taxes
-€30,813
Result 2025
€67,231
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.
From operations
+€32,525
Investment
+€14,852
Financing
-€45,522
Cash 2024
€412,636
From operations (derived)
+€32,525
Net result for the year
+€67,231
Depreciation
+€70,673
Stocks and contracts
-€750
Receivables within one year
-€90,978
Deferred charges and accrued income
+€335
Trade debts
-€11,206
Tax, wage and social debts
+€2,240
Accrued charges and deferred income
-€5,022
Investment (derived)
+€14,852
Investment in fixed assets (net)
+€14,852
Financing
-€45,522
Debts after one year
-€38,870
Current portion of long-term debt
+€4,513
Short-term financial debts
-€11,166
Cash 2025
€414,490
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,203,787 | €1,211,509 | +€7,722 | +0.6% |
| Fixed assets | 21/28 | €569,187 | €483,661 | -€85,525 | -15.0% |
| Tangible fixed assets | 22/27 | €569,187 | €483,661 | -€85,525 | -15.0% |
| Land and buildings | 22 | €552,889 | €483,661 | -€69,228 | -12.5% |
| Plant, machinery and equipment | 23 | €293 | - | -€293 | |
| Furniture and vehicles | 24 | €16,004 | - | -€16,004 | |
| Current assets | 29/58 | €634,600 | €727,847 | +€93,247 | +14.7% |
| Stocks and contracts in progress | 3 | €2,808 | €3,558 | +€750 | +26.7% |
| Stocks | 30/36 | €2,808 | €3,558 | +€750 | +26.7% |
| Amounts receivable within one year | 40/41 | €217,114 | €308,092 | +€90,978 | +41.9% |
| Trade receivables | 40 | €77,760 | €63,076 | -€14,684 | -18.9% |
| Other amounts receivable | 41 | €139,353 | €245,016 | +€105,662 | +75.8% |
| Cash at bank and in hand | 54/58 | €412,636 | €414,490 | +€1,855 | +0.4% |
| Deferred charges and accrued income | 490/1 | €2,042 | €1,707 | -€335 | -16.4% |
| Total equity and liabilities | 10/49 | €1,203,787 | €1,211,509 | +€7,722 | +0.6% |
| Equity | 10/15 | €814,448 | €881,680 | +€67,231 | +8.3% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €40,547 | €40,547 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,860 | €6,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,860 | €6,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,750 | €12,750 | = | 0.0% |
| Distributable reserves | 133 | €20,937 | €20,937 | = | 0.0% |
| Profit (loss) carried forward | 14 | €705,301 | €772,532 | +€67,231 | +9.5% |
| Amounts payable | 17/49 | €389,338 | €329,829 | -€59,509 | -15.3% |
| Amounts payable after more than one year | 17 | €180,641 | €141,771 | -€38,870 | -21.5% |
| Financial debts | 170/4 | €180,641 | €141,771 | -€38,870 | -21.5% |
| Amounts payable within one year | 42/48 | €203,676 | €188,057 | -€15,618 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €35,915 | €40,428 | +€4,513 | +12.6% |
| Financial debts | 43 | €11,166 | - | -€11,166 | |
| Credit institutions | 430/8 | €11,166 | - | -€11,166 | |
| Trade debts | 44 | €120,438 | €109,233 | -€11,206 | -9.3% |
| Suppliers | 440/4 | €120,438 | €109,233 | -€11,206 | -9.3% |
| Taxes, remuneration and social security | 45 | €36,156 | €38,397 | +€2,240 | +6.2% |
| Taxes | 450/3 | €16,958 | €26,848 | +€9,890 | +58.3% |
| Remuneration and social security | 454/9 | €19,199 | €11,549 | -€7,650 | -39.8% |
| Accrued charges and deferred income | 492/3 | €5,022 | - | -€5,022 | |
| Remuneration, social security and pensions | 62 | €125,324 | €122,457 | -€2,867 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,228 | €70,673 | -€17,555 | -19.9% |
| Other operating charges | 640/8 | €3,304 | €5,352 | +€2,047 | +62.0% |
| Gross operating margin | 9900 | €319,847 | €340,821 | +€20,974 | +6.6% |
| Operating profit (loss) | 9901 | €102,990 | €142,339 | +€39,348 | +38.2% |
| Financial income | 75/76B | €6,257 | €13,536 | +€7,279 | +116.3% |
| Recurring financial income | 75 | €6,257 | €13,536 | +€7,279 | +116.3% |
| Financial charges | 65/66B | €31,293 | €28,923 | -€2,370 | -7.6% |
| Recurring financial charges | 65 | €31,293 | €28,923 | -€2,370 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €77,954 | €126,952 | +€48,998 | +62.9% |
| Income taxes | 67/77 | €28,907 | €59,720 | +€30,813 | +106.6% |
| Profit (loss) for the period | 9904 | €49,047 | €67,231 | +€18,185 | +37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,047 | €67,231 | +€18,185 | +37.1% |
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 7 October 2026 via checked.be.