LA MAISON FRERES: 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.
What changed
LA MAISON FRERES
NACE 47.770, Retail sale of watches and jewellery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€111,778
2024 · €70,998+€40,780
Equity
€679,099
2024 · €567,321+€111,778
Cash
€92,890
2024 · €101,295-€8,405
Balance sheet total
€2.4m
2024 · €2.4m+€9,396
Largest movements
Assets
- Stocks and contracts +€68,503
up €68,503 (+6.1%), from €1.1m to €1.2m
- Tangible fixed assets -€68,204
down €68,204 (-6.1%), from €1.1m to €1.0m
of which Land and buildings: -€56,530
Equity and liabilities
- Debts after one year -€123,965
down €123,965 (-11.3%), from €1.1m to €977,377
- Reserves +€80,000
up €80,000 (+65.6%), from €121,860 to €201,860
- Tax, wage and social debts +€42,786
up €42,786 (+40.8%), from €104,775 to €147,561
of which Taxes: +€35,831
- Profit (loss) carried forward +€31,778
up €31,778 (+10.9%), from €291,189 to €322,966
- Trade debts -€28,418
down €28,418 (-10.5%), from €270,864 to €242,445
Income statement
- Gross operating margin +€46,397
up €46,397 (+8.2%), from €569,044 to €615,442
- Depreciation -€29,423
down €29,423 (-26.2%), from €112,467 to €83,044
- Taxes +€27,216
up €27,216 (+151%), from €17,976 to €45,192
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
€70,998
Gross operating margin
+€46,397
Staff costs
-€1,978
Depreciation
+€29,423
Other operating charges
-€2,632
Financial income
+€854
Financial charges
-€4,069
Taxes
-€27,216
Result 2025
€111,778
raises the resultlowers the result
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.
From operations
+€118,020
Investment
-€14,638
Financing
-€111,786
Cash 2024
€101,295
From operations (derived)
+€118,020
Net result for the year
+€111,778
Depreciation
+€83,044
Stocks and contracts
-€68,503
Receivables within one year
-€21,897
Deferred charges and accrued income
+€4,194
Trade debts
-€28,418
Tax, wage and social debts
+€42,786
Other debts
-€4,127
Accrued charges and deferred income
-€836
Investment (derived)
-€14,638
Investment in fixed assets (net)
-€14,638
Financing
-€111,786
Debts after one year
-€123,965
Current portion of long-term debt
+€27,179
Short-term financial debts
-€15,000
Cash 2025
€92,890
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,383,738 | €2,393,135 | +€9,396 | +0.4% |
| Fixed assets | 21/28 | €1,116,782 | €1,048,377 | -€68,406 | -6.1% |
| Intangible fixed assets | 21 | €81 | €0 | -€81 | -100% |
| Tangible fixed assets | 22/27 | €1,116,581 | €1,048,377 | -€68,204 | -6.1% |
| Land and buildings | 22 | €1,042,528 | €985,999 | -€56,530 | -5.4% |
| Plant, machinery and equipment | 23 | €49,821 | €38,985 | -€10,836 | -21.7% |
| Furniture and vehicles | 24 | €24,231 | €23,393 | -€839 | -3.5% |
| Financial fixed assets | 28 | €120 | €0 | -€120 | -100% |
| Current assets | 29/58 | €1,266,956 | €1,344,758 | +€77,802 | +6.1% |
| Stocks and contracts in progress | 3 | €1,127,502 | €1,196,005 | +€68,503 | +6.1% |
| Stocks | 30/36 | €1,127,502 | €1,196,005 | +€68,503 | +6.1% |
| Amounts receivable within one year | 40/41 | €30,368 | €52,265 | +€21,897 | +72.1% |
| Trade receivables | 40 | €28,862 | €52,083 | +€23,221 | +80.5% |
| Other amounts receivable | 41 | €1,506 | €182 | -€1,324 | -87.9% |
| Cash at bank and in hand | 54/58 | €101,295 | €92,890 | -€8,405 | -8.3% |
| Deferred charges and accrued income | 490/1 | €7,791 | €3,597 | -€4,194 | -53.8% |
| Total equity and liabilities | 10/49 | €2,383,738 | €2,393,135 | +€9,396 | +0.4% |
| Equity | 10/15 | €567,321 | €679,099 | +€111,778 | +19.7% |
| Contributions | 10/11 | €154,272 | €154,272 | = | 0.0% |
| Reserves | 13 | €121,860 | €201,860 | +€80,000 | +65.6% |
| Distributable reserves | 133 | €121,860 | €201,860 | +€80,000 | +65.6% |
| Profit (loss) carried forward | 14 | €291,189 | €322,966 | +€31,778 | +10.9% |
| Amounts payable | 17/49 | €1,816,418 | €1,714,036 | -€102,381 | -5.6% |
| Amounts payable after more than one year | 17 | €1,101,342 | €977,377 | -€123,965 | -11.3% |
| Financial debts | 170/4 | €1,101,342 | €977,377 | -€123,965 | -11.3% |
| Amounts payable within one year | 42/48 | €712,334 | €734,753 | +€22,419 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €68,903 | €96,081 | +€27,179 | +39.4% |
| Financial debts | 43 | €157,440 | €142,440 | -€15,000 | -9.5% |
| Credit institutions | 430/8 | €157,440 | €142,440 | -€15,000 | -9.5% |
| Trade debts | 44 | €270,864 | €242,445 | -€28,418 | -10.5% |
| Suppliers | 440/4 | €270,864 | €242,445 | -€28,418 | -10.5% |
| Taxes, remuneration and social security | 45 | €104,775 | €147,561 | +€42,786 | +40.8% |
| Taxes | 450/3 | €68,574 | €104,405 | +€35,831 | +52.3% |
| Remuneration and social security | 454/9 | €36,201 | €43,156 | +€6,955 | +19.2% |
| Other amounts payable | 47/48 | €110,352 | €106,226 | -€4,127 | -3.7% |
| Accrued charges and deferred income | 492/3 | €2,742 | €1,906 | -€836 | -30.5% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €324,178 | €326,156 | +€1,978 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,467 | €83,044 | -€29,423 | -26.2% |
| Other operating charges | 640/8 | €7,053 | €9,685 | +€2,632 | +37.3% |
| Gross operating margin | 9900 | €569,044 | €615,442 | +€46,397 | +8.2% |
| Operating profit (loss) | 9901 | €125,347 | €196,558 | +€71,210 | +56.8% |
| Financial income | 75/76B | €430 | €1,284 | +€854 | +199% |
| Recurring financial income | 75 | €430 | €1,284 | +€854 | +199% |
| Financial charges | 65/66B | €36,802 | €40,871 | +€4,069 | +11.1% |
| Recurring financial charges | 65 | €36,802 | €40,871 | +€4,069 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €88,975 | €156,970 | +€67,995 | +76.4% |
| Income taxes | 67/77 | €17,976 | €45,192 | +€27,216 | +151% |
| Profit (loss) for the period | 9904 | €70,998 | €111,778 | +€40,780 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,998 | €111,778 | +€40,780 | +57.4% |
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 31 October 2026 via checked.be.