JD CONSTRUCT & FRERE: 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.
JD CONSTRUCT & FRERE
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+244.8%), from €727,863 to €2.5m
of which Land and buildings: +€1.7m
- Cash -€133,581
down €133,581 (-92.6%), from €144,327 to €10,746
mainly Investment in fixed assets (net) (-€1.9m) and Advances received (-€143,836)
- Receivables within one year -€87,640
down €87,640 (-38.9%), from €225,301 to €137,660
of which Trade receivables: -€104,265
- Stocks and contracts +€75,549
up €75,549 (+62.3%), from €121,174 to €196,723
of which Contracts in progress: +€71,879
- Debts after one year +€1.3m
up €1.3m (+285.2%), from €448,652 to €1.7m
- Short-term financial debts +€436,401
up €436,401 (+436.4%), from €100,000 to €536,401
- Advances received -€143,836
down €143,836 (-64.4%), from €223,384 to €79,548
- Trade debts +€76,559
up €76,559 (+92.6%), from €82,708 to €159,267
- Current portion of long-term debt +€59,489
up €59,489 (+54.7%), from €108,769 to €168,258
- Staff costs +€160,614
up €160,614 (+22.2%), from €724,435 to €885,049
- Gross operating margin +€44,170
up €44,170 (+4.5%), from €974,779 to €1.0m
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 | €1,254,422 | €2,894,252 | +€1.6m | +130.7% |
| Fixed assets | 21/28 | €731,448 | €2,513,294 | +€1.8m | +243.6% |
| Tangible fixed assets | 22/27 | €727,863 | €2,509,709 | +€1.8m | +244.8% |
| Land and buildings | 22 | €444,812 | €2,145,348 | +€1.7m | +382.3% |
| Plant, machinery and equipment | 23 | €49,130 | €89,552 | +€40,421 | +82.3% |
| Furniture and vehicles | 24 | €34,479 | €60,866 | +€26,386 | +76.5% |
| Leasing and similar rights | 25 | €199,151 | €213,944 | +€14,793 | +7.4% |
| Other tangible fixed assets | 26 | €291 | €0 | -€291 | -100.0% |
| Financial fixed assets | 28 | €3,585 | €3,585 | = | 0.0% |
| Current assets | 29/58 | €522,974 | €380,958 | -€142,016 | -27.2% |
| Stocks and contracts in progress | 3 | €121,174 | €196,723 | +€75,549 | +62.3% |
| Stocks | 30/36 | €120,161 | €123,831 | +€3,671 | +3.1% |
| Contracts in progress | 37 | €1,013 | €72,892 | +€71,879 | +7095.6% |
| Amounts receivable within one year | 40/41 | €225,301 | €137,660 | -€87,640 | -38.9% |
| Trade receivables | 40 | €218,403 | €114,138 | -€104,265 | -47.7% |
| Other amounts receivable | 41 | €6,897 | €23,522 | +€16,625 | +241.0% |
| Cash at bank and in hand | 54/58 | €144,327 | €10,746 | -€133,581 | -92.6% |
| Deferred charges and accrued income | 490/1 | €32,173 | €35,830 | +€3,656 | +11.4% |
| Total equity and liabilities | 10/49 | €1,254,422 | €2,894,252 | +€1.6m | +130.7% |
| Equity | 10/15 | €248,807 | €205,362 | -€43,445 | -17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,411 | €5,411 | = | 0.0% |
| Distributable reserves | 133 | €5,411 | €5,411 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,569 | €152,695 | -€58,875 | -27.8% |
| Investment grants | 15 | €13,227 | €28,657 | +€15,430 | +116.7% |
| Amounts payable | 17/49 | €1,005,615 | €2,688,889 | +€1.7m | +167.4% |
| Amounts payable after more than one year | 17 | €448,652 | €1,728,272 | +€1.3m | +285.2% |
| Financial debts | 170/4 | €448,652 | €1,728,272 | +€1.3m | +285.2% |
| Amounts payable within one year | 42/48 | €556,963 | €960,589 | +€403,626 | +72.5% |
| Current portion of amounts payable after more than one year | 42 | €108,769 | €168,258 | +€59,489 | +54.7% |
| Financial debts | 43 | €100,000 | €536,401 | +€436,401 | +436.4% |
| Credit institutions | 430/8 | €100,000 | €536,401 | +€436,401 | +436.4% |
| Trade debts | 44 | €82,708 | €159,267 | +€76,559 | +92.6% |
| Suppliers | 440/4 | €82,708 | €159,267 | +€76,559 | +92.6% |
| Advances received on contracts in progress | 46 | €223,384 | €79,548 | -€143,836 | -64.4% |
| Taxes, remuneration and social security | 45 | €34,354 | €16,865 | -€17,488 | -50.9% |
| Taxes | 450/3 | €18,141 | €638 | -€17,503 | -96.5% |
| Remuneration and social security | 454/9 | €16,212 | €16,227 | +€15 | +0.1% |
| Other amounts payable | 47/48 | €7,749 | €250 | -€7,498 | -96.8% |
| Accrued charges and deferred income | 492/3 | €0 | €28 | +€28 | |
| Remuneration, social security and pensions | 62 | €724,435 | €885,049 | +€160,614 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,964 | €156,279 | -€7,685 | -4.7% |
| Other operating charges | 640/8 | €11,422 | €15,102 | +€3,680 | +32.2% |
| Non-recurring operating charges | 66A | €5,630 | €0 | -€5,630 | -100.0% |
| Gross operating margin | 9900 | €974,779 | €1,018,949 | +€44,170 | +4.5% |
| Operating profit (loss) | 9901 | €69,328 | -€37,481 | -€106,809 | |
| Financial income | 75/76B | €1,930 | €9,050 | +€7,119 | +368.8% |
| Recurring financial income | 75 | €1,930 | €9,050 | +€7,119 | +368.8% |
| Financial charges | 65/66B | €23,732 | €29,923 | +€6,191 | +26.1% |
| Recurring financial charges | 65 | €23,732 | €29,923 | +€6,191 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | €47,526 | -€58,355 | -€105,881 | |
| Income taxes | 67/77 | €5,603 | €520 | -€5,082 | -90.7% |
| Profit (loss) for the period | 9904 | €41,923 | -€58,875 | -€100,798 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,923 | -€58,875 | -€100,798 |
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 5 October 2026 via checked.be.