LES FRERES CONSTRUCT: 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.
LES FRERES CONSTRUCT
Largest movements
- Tangible fixed assets -€58,919
down €58,919 (-69.5%), from €84,734 to €25,814
of which Furniture and vehicles: -€45,689
- Receivables within one year -€29,465
down €29,465 (-16.8%), from €175,018 to €145,554
of which Other amounts receivable: -€34,611
- Cash +€5,719
up €5,719 (+107%), from €5,357 to €11,075
- Reserves -€33,000
down €33,000 (-76.1%), from €43,363 to €10,363
of which Distributable reserves: -€33,000
- Tax, wage and social debts -€22,891
down €22,891 (-65.5%), from €34,966 to €12,075
of which Taxes: -€27,836
- Debts after one year -€16,364
no longer reported in 2025 (was €16,364)
- Current portion of long-term debt -€5,844
down €5,844 (-51.3%), from €11,400 to €5,556
- Trade debts -€4,996
down €4,996 (-95.0%), from €5,260 to €264
- Gross operating margin -€35,328
down €35,328 (-26.7%), from €132,174 to €96,846
- Taxes -€15,766
down €15,766 (-73.9%), from €21,337 to €5,571
- Depreciation +€11,655
up €11,655 (+24.0%), from €48,650 to €60,304
- Other operating charges +€5,682
up €5,682 (+29.4%), from €19,341 to €25,024
- Financial charges -€2,543
down €2,543 (-37.4%), from €6,794 to €4,251
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €268,178 | €182,644 | -€85,535 | -31.9% |
| Fixed assets | 21/28 | €86,234 | €26,014 | -€60,219 | -69.8% |
| Tangible fixed assets | 22/27 | €84,734 | €25,814 | -€58,919 | -69.5% |
| Plant, machinery and equipment | 23 | €14,800 | €1,570 | -€13,230 | -89.4% |
| Furniture and vehicles | 24 | €69,934 | €24,245 | -€45,689 | -65.3% |
| Financial fixed assets | 28 | €1,500 | €200 | -€1,300 | -86.7% |
| Current assets | 29/58 | €181,945 | €156,629 | -€25,316 | -13.9% |
| Amounts receivable within one year | 40/41 | €175,018 | €145,554 | -€29,465 | -16.8% |
| Trade receivables | 40 | €72,650 | €77,796 | +€5,146 | +7.1% |
| Other amounts receivable | 41 | €102,368 | €67,757 | -€34,611 | -33.8% |
| Cash at bank and in hand | 54/58 | €5,357 | €11,075 | +€5,719 | +107% |
| Deferred charges and accrued income | 490/1 | €1,570 | - | -€1,570 | |
| Total equity and liabilities | 10/49 | €268,178 | €182,644 | -€85,535 | -31.9% |
| Equity | 10/15 | €192,238 | €160,938 | -€31,300 | -16.3% |
| Contributions | 10/11 | €18,700 | €18,700 | = | 0.0% |
| Reserves | 13 | €43,363 | €10,363 | -€33,000 | -76.1% |
| Non-distributable reserves | 130/1 | €6,963 | €6,963 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,963 | €6,963 | = | 0.0% |
| Distributable reserves | 133 | €36,400 | €3,400 | -€33,000 | -90.7% |
| Profit (loss) carried forward | 14 | €130,176 | €131,875 | +€1,700 | +1.3% |
| Provisions and deferred taxes | 16 | €3,810 | €3,810 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,810 | €3,810 | = | 0.0% |
| Major repairs and maintenance | 162 | €3,810 | €3,810 | = | 0.0% |
| Amounts payable | 17/49 | €72,130 | €17,896 | -€54,235 | -75.2% |
| Amounts payable after more than one year | 17 | €16,364 | - | -€16,364 | |
| Financial debts | 170/4 | €16,364 | - | -€16,364 | |
| Amounts payable within one year | 42/48 | €55,767 | €17,896 | -€37,871 | -67.9% |
| Current portion of amounts payable after more than one year | 42 | €11,400 | €5,556 | -€5,844 | -51.3% |
| Financial debts | 43 | €4,140 | - | -€4,140 | |
| Credit institutions | 430/8 | €4,140 | - | -€4,140 | |
| Trade debts | 44 | €5,260 | €264 | -€4,996 | -95.0% |
| Suppliers | 440/4 | €5,260 | €264 | -€4,996 | -95.0% |
| Taxes, remuneration and social security | 45 | €34,966 | €12,075 | -€22,891 | -65.5% |
| Taxes | 450/3 | €34,966 | €7,130 | -€27,836 | -79.6% |
| Remuneration and social security | 454/9 | - | €4,945 | +€4,945 | |
| Non-recurring operating income | 76A | €132,174 | - | -€132,174 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,650 | €60,304 | +€11,655 | +24.0% |
| Other operating charges | 640/8 | €19,341 | €25,024 | +€5,682 | +29.4% |
| Gross operating margin | 9900 | €132,174 | €96,846 | -€35,328 | -26.7% |
| Operating profit (loss) | 9901 | €64,183 | €11,518 | -€52,665 | -82.1% |
| Financial income | 75/76B | €4 | €4 | +€0 | +3.2% |
| Recurring financial income | 75 | €4 | €4 | +€0 | +3.2% |
| Financial charges | 65/66B | €6,794 | €4,251 | -€2,543 | -37.4% |
| Recurring financial charges | 65 | €6,794 | €4,251 | -€2,543 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €57,393 | €7,271 | -€50,122 | -87.3% |
| Income taxes | 67/77 | €21,337 | €5,571 | -€15,766 | -73.9% |
| Profit (loss) for the period | 9904 | €36,056 | €1,700 | -€34,356 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,056 | €1,700 | -€34,356 | -95.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.