FRIEND HOUSE: 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.
FRIEND HOUSE
Largest movements
- Receivables within one year +€223,140
up €223,140 (+276%), from €80,960 to €304,100
- Stocks and contracts +€89,108
up €89,108 (+1.4%), from €6.2m to €6.3m
- Formation expenses +€69,568
new in 2025: €69,568
- Short-term financial debts +€634,256
up €634,256 (+12.9%), from €4.9m to €5.5m
- Trade debts -€429,039
down €429,039 (-95.1%), from €451,134 to €22,096
- Other debts +€415,735
up €415,735, from €0 to €415,735
- Profit (loss) carried forward -€224,531
down €224,531 (-96.8%), from -€232,014 to -€456,545
- Debts after one year -€103,332
down €103,332 (-17.8%), from €579,179 to €475,847
- Financial charges -€40,795
down €40,795 (-13.2%), from €309,546 to €268,751
- Gross operating margin -€25,966
down €25,966 (-27.6%), from €94,152 to €68,186
- Depreciation +€14,848
new in 2025: €14,848
- Other operating charges -€4,307
down €4,307 (-26.7%), from €16,144 to €11,836
- Financial income +€1,186
up €1,186 (+77.4%), from €1,532 to €2,718
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 | €6,326,051 | €6,707,137 | +€381,086 | +6.0% |
| Formation expenses | 20 | - | €69,568 | +€69,568 | |
| Fixed assets | 21/28 | €1 | €1 | = | 0.0% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €6,326,050 | €6,637,568 | +€311,518 | +4.9% |
| Stocks and contracts in progress | 3 | €6,242,323 | €6,331,430 | +€89,108 | +1.4% |
| Stocks | 30/36 | €6,242,323 | €6,331,430 | +€89,108 | +1.4% |
| Amounts receivable within one year | 40/41 | €80,960 | €304,100 | +€223,140 | +276% |
| Other amounts receivable | 41 | €80,960 | €304,100 | +€223,140 | +276% |
| Cash at bank and in hand | 54/58 | €1,183 | €253 | -€930 | -78.6% |
| Deferred charges and accrued income | 490/1 | €1,583 | €1,785 | +€201 | +12.7% |
| Total equity and liabilities | 10/49 | €6,326,051 | €6,707,137 | +€381,086 | +6.0% |
| Equity | 10/15 | €275,126 | €50,595 | -€224,531 | -81.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €7,140 | €7,140 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,140 | €7,140 | = | 0.0% |
| Legal reserve | 130 | €7,140 | €7,140 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€232,014 | -€456,545 | -€224,531 | -96.8% |
| Amounts payable | 17/49 | €6,050,925 | €6,656,542 | +€605,617 | +10.0% |
| Amounts payable after more than one year | 17 | €579,179 | €475,847 | -€103,332 | -17.8% |
| Financial debts | 170/4 | €579,179 | €475,847 | -€103,332 | -17.8% |
| Amounts payable within one year | 42/48 | €5,470,957 | €6,180,695 | +€709,738 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €103,332 | €192,880 | +€89,548 | +86.7% |
| Financial debts | 43 | €4,911,718 | €5,545,974 | +€634,256 | +12.9% |
| Credit institutions | 430/8 | €4,911,718 | €5,545,974 | +€634,256 | +12.9% |
| Trade debts | 44 | €451,134 | €22,096 | -€429,039 | -95.1% |
| Suppliers | 440/4 | €451,134 | €22,096 | -€429,039 | -95.1% |
| Taxes, remuneration and social security | 45 | €4,773 | €4,010 | -€763 | -16.0% |
| Taxes | 450/3 | €4,773 | €4,010 | -€763 | -16.0% |
| Other amounts payable | 47/48 | €0 | €415,735 | +€415,735 | |
| Accrued charges and deferred income | 492/3 | €789 | €0 | -€789 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €14,848 | +€14,848 | |
| Other operating charges | 640/8 | €16,144 | €11,836 | -€4,307 | -26.7% |
| Gross operating margin | 9900 | €94,152 | €68,186 | -€25,966 | -27.6% |
| Operating profit (loss) | 9901 | €78,008 | €41,502 | -€36,506 | -46.8% |
| Financial income | 75/76B | €1,532 | €2,718 | +€1,186 | +77.4% |
| Recurring financial income | 75 | €1,532 | €2,718 | +€1,186 | +77.4% |
| Financial charges | 65/66B | €309,546 | €268,751 | -€40,795 | -13.2% |
| Recurring financial charges | 65 | €309,546 | €268,751 | -€40,795 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | -€230,005 | -€224,531 | +€5,475 | +2.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€230,005 | -€224,531 | +€5,475 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€230,005 | -€224,531 | +€5,475 | +2.4% |
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 18 October 2026 via checked.be.