FRIENDS: 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.
FRIENDS
Largest movements
- Cash -€29,671
down €29,671 (-36.1%), from €82,177 to €52,506
mainly Investment in fixed assets (net) (-€22,891) and Receivables within one year (-€18,652)
- Tangible fixed assets +€20,897
up €20,897 (+588.5%), from €3,551 to €24,448
of which Plant, machinery and equipment: +€18,187
- Receivables within one year +€18,652
up €18,652 (+225.8%), from €8,260 to €26,912
of which Trade receivables: +€18,458
- Stocks and contracts -€5,137
down €5,137 (-8.6%), from €59,762 to €54,625
- Trade debts +€24,238
up €24,238 (+234.2%), from €10,350 to €34,588
- Tax, wage and social debts -€8,892
down €8,892 (-54.9%), from €16,187 to €7,295
- Profit (loss) carried forward -€6,279
down €6,279 (-10.2%), from €61,581 to €55,302
- Current portion of long-term debt -€3,137
no longer reported in 2025 (was €3,137)
- Gross operating margin -€18,057
down €18,057 (-87.7%), from €20,583 to €2,526
- Taxes -€5,070
down €5,070 (-83.5%), from €6,072 to €1,002
- Other operating charges +€2,399
up €2,399 (+89.9%), from €2,669 to €5,068
- Depreciation +€1,382
up €1,382 (+225.8%), from €612 to €1,994
- Financial charges -€697
down €697 (-48.1%), from €1,450 to €753
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 | €154,147 | €160,082 | +€5,935 | +3.9% |
| Fixed assets | 21/28 | €3,551 | €24,448 | +€20,897 | +588.5% |
| Tangible fixed assets | 22/27 | €3,551 | €24,448 | +€20,897 | +588.5% |
| Plant, machinery and equipment | 23 | €3,551 | €21,738 | +€18,187 | +512.2% |
| Furniture and vehicles | 24 | - | €2,710 | +€2,710 | |
| Current assets | 29/58 | €150,596 | €135,634 | -€14,962 | -9.9% |
| Stocks and contracts in progress | 3 | €59,762 | €54,625 | -€5,137 | -8.6% |
| Stocks | 30/36 | €59,762 | €54,625 | -€5,137 | -8.6% |
| Amounts receivable within one year | 40/41 | €8,260 | €26,912 | +€18,652 | +225.8% |
| Trade receivables | 40 | €3,576 | €22,034 | +€18,458 | +516.2% |
| Other amounts receivable | 41 | €4,684 | €4,878 | +€194 | +4.1% |
| Cash at bank and in hand | 54/58 | €82,177 | €52,506 | -€29,671 | -36.1% |
| Deferred charges and accrued income | 490/1 | €397 | €1,591 | +€1,194 | +300.8% |
| Total equity and liabilities | 10/49 | €154,147 | €160,082 | +€5,935 | +3.9% |
| Equity | 10/15 | €112,528 | €106,249 | -€6,279 | -5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,347 | €32,347 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,328 | - | -€1,328 | |
| Reserves not available under the articles | 1311 | €1,328 | - | -€1,328 | |
| Distributable reserves | 133 | €31,019 | €32,347 | +€1,328 | +4.3% |
| Profit (loss) carried forward | 14 | €61,581 | €55,302 | -€6,279 | -10.2% |
| Amounts payable | 17/49 | €41,619 | €53,833 | +€12,214 | +29.3% |
| Amounts payable within one year | 42/48 | €41,619 | €53,833 | +€12,214 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €3,137 | - | -€3,137 | |
| Trade debts | 44 | €10,350 | €34,588 | +€24,238 | +234.2% |
| Suppliers | 440/4 | €10,350 | €34,588 | +€24,238 | +234.2% |
| Taxes, remuneration and social security | 45 | €16,187 | €7,295 | -€8,892 | -54.9% |
| Taxes | 450/3 | €16,187 | €7,295 | -€8,892 | -54.9% |
| Other amounts payable | 47/48 | €11,945 | €11,950 | +€5 | 0.0% |
| Remuneration, social security and pensions | 62 | -€77 | - | +€77 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €612 | €1,994 | +€1,382 | +225.8% |
| Other operating charges | 640/8 | €2,669 | €5,068 | +€2,399 | +89.9% |
| Gross operating margin | 9900 | €20,583 | €2,526 | -€18,057 | -87.7% |
| Operating profit (loss) | 9901 | €17,379 | -€4,536 | -€21,915 | |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €1,450 | €753 | -€697 | -48.1% |
| Recurring financial charges | 65 | €1,450 | €753 | -€697 | -48.1% |
| Profit (loss) for the period before taxes | 9903 | €15,929 | -€5,277 | -€21,206 | |
| Income taxes | 67/77 | €6,072 | €1,002 | -€5,070 | -83.5% |
| Profit (loss) for the period | 9904 | €9,857 | -€6,279 | -€16,136 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,857 | -€6,279 | -€16,136 |
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 12 October 2026 via checked.be.