LE FRERE: 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.
LE FRERE
Largest movements
- Receivables within one year +€17,892
up €17,892 (+47.7%), from €37,507 to €55,399
of which Other amounts receivable: +€30,490
- Cash -€6,853
down €6,853 (-71.5%), from €9,585 to €2,732
mainly Receivables within one year (-€17,892) and Trade debts (-€10,779)
- Stocks and contracts +€2,881
up €2,881 (+168%), from €1,717 to €4,599
- Tangible fixed assets -€2,813
down €2,813 (-42.3%), from €6,652 to €3,839
of which Furniture and vehicles: -€2,755
- Profit (loss) carried forward +€18,240
up €18,240 (+56.6%), from €32,209 to €50,449
- Trade debts -€10,779
down €10,779 (-88.8%), from €12,135 to €1,355
- Tax, wage and social debts +€4,017
up €4,017 (+126%), from €3,196 to €7,213
of which Taxes: +€7,017
- Gross operating margin +€31,158
up €31,158 (+13,552%), from €230 to €31,388
- Taxes +€5,904
new in 2025: €5,904
- Other operating charges +€3,563
up €3,563 (+542%), from €657 to €4,221
- Depreciation +€1,084
up €1,084 (+62.7%), from €1,729 to €2,813
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 | €55,600 | €67,077 | +€11,477 | +20.6% |
| Fixed assets | 21/28 | €6,652 | €3,839 | -€2,813 | -42.3% |
| Tangible fixed assets | 22/27 | €6,652 | €3,839 | -€2,813 | -42.3% |
| Plant, machinery and equipment | 23 | €59 | - | -€59 | |
| Furniture and vehicles | 24 | €6,594 | €3,839 | -€2,755 | -41.8% |
| Current assets | 29/58 | €48,947 | €63,238 | +€14,291 | +29.2% |
| Stocks and contracts in progress | 3 | €1,717 | €4,599 | +€2,881 | +168% |
| Stocks | 30/36 | €1,717 | €4,599 | +€2,881 | +168% |
| Amounts receivable within one year | 40/41 | €37,507 | €55,399 | +€17,892 | +47.7% |
| Trade receivables | 40 | €12,598 | - | -€12,598 | |
| Other amounts receivable | 41 | €24,909 | €55,399 | +€30,490 | +122% |
| Cash at bank and in hand | 54/58 | €9,585 | €2,732 | -€6,853 | -71.5% |
| Deferred charges and accrued income | 490/1 | €138 | €508 | +€370 | +268% |
| Total equity and liabilities | 10/49 | €55,600 | €67,077 | +€11,477 | +20.6% |
| Equity | 10/15 | €40,269 | €58,509 | +€18,240 | +45.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,209 | €50,449 | +€18,240 | +56.6% |
| Amounts payable | 17/49 | €15,331 | €8,568 | -€6,763 | -44.1% |
| Amounts payable within one year | 42/48 | €15,331 | €8,568 | -€6,763 | -44.1% |
| Trade debts | 44 | €12,135 | €1,355 | -€10,779 | -88.8% |
| Suppliers | 440/4 | €12,135 | €1,355 | -€10,779 | -88.8% |
| Taxes, remuneration and social security | 45 | €3,196 | €7,213 | +€4,017 | +126% |
| Taxes | 450/3 | €196 | €7,213 | +€7,017 | +3,574% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,729 | €2,813 | +€1,084 | +62.7% |
| Other operating charges | 640/8 | €657 | €4,221 | +€3,563 | +542% |
| Gross operating margin | 9900 | €230 | €31,388 | +€31,158 | +13,552% |
| Operating profit (loss) | 9901 | -€2,157 | €24,355 | +€26,511 | |
| Financial charges | 65/66B | €142 | €211 | +€69 | +48.9% |
| Recurring financial charges | 65 | €142 | €211 | +€69 | +48.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,298 | €24,144 | +€26,442 | |
| Income taxes | 67/77 | - | €5,904 | +€5,904 | |
| Profit (loss) for the period | 9904 | -€2,298 | €18,240 | +€20,538 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,298 | €18,240 | +€20,538 |
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 25 October 2026 via checked.be.