PIERRE 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.
PIERRE FRERES
Largest movements
- Tangible fixed assets +€245,552
up €245,552 (+51.2%), from €479,914 to €725,466
of which Furniture and vehicles: +€254,439
- Cash -€178,461
down €178,461 (-27.9%), from €639,438 to €460,977
mainly Investment in fixed assets (net) (-€454,982) and Contributions, distributions and other (-€74,704)
- Receivables within one year +€69,315
up €69,315 (+285%), from €24,334 to €93,649
of which Trade receivables: +€91,432
- Reserves +€59,221
up €59,221 (+8.2%), from €720,674 to €779,895
of which Distributable reserves: +€59,221
- Other debts +€54,232
up €54,232 (+86.1%), from €63,000 to €117,232
- Trade debts +€12,925
up €12,925 (+1,102%), from €1,173 to €14,097
- Depreciation +€65,250
up €65,250 (+45.3%), from €144,180 to €209,430
- Gross operating margin -€56,621
down €56,621 (-11.3%), from €500,982 to €444,360
- Turnover -€36,310
down €36,310 (-3.6%), from €1.0m to €975,694
- Taxes -€36,137
down €36,137 (-43.4%), from €83,261 to €47,124
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,145,555 | €1,281,866 | +€136,310 | +11.9% |
| Fixed assets | 21/28 | €480,070 | €725,622 | +€245,552 | +51.1% |
| Tangible fixed assets | 22/27 | €479,914 | €725,466 | +€245,552 | +51.2% |
| Land and buildings | 22 | €17,387 | €11,161 | -€6,226 | -35.8% |
| Plant, machinery and equipment | 23 | €67,248 | €64,587 | -€2,661 | -4.0% |
| Furniture and vehicles | 24 | €395,280 | €649,718 | +€254,439 | +64.4% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €665,485 | €556,244 | -€109,242 | -16.4% |
| Amounts receivable within one year | 40/41 | €24,334 | €93,649 | +€69,315 | +285% |
| Trade receivables | 40 | €835 | €92,267 | +€91,432 | +10,953% |
| Other amounts receivable | 41 | €23,499 | €1,382 | -€22,117 | -94.1% |
| Cash at bank and in hand | 54/58 | €639,438 | €460,977 | -€178,461 | -27.9% |
| Deferred charges and accrued income | 490/1 | €1,713 | €1,617 | -€96 | -5.6% |
| Total equity and liabilities | 10/49 | €1,145,555 | €1,281,866 | +€136,310 | +11.9% |
| Equity | 10/15 | €1,031,921 | €1,091,143 | +€59,221 | +5.7% |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Capital | 10 | €8,676 | €8,676 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €9,916 | €9,916 | = | 0.0% |
| Reserves | 13 | €720,674 | €779,895 | +€59,221 | +8.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €718,815 | €778,036 | +€59,221 | +8.2% |
| Profit (loss) carried forward | 14 | €302,571 | €302,571 | = | 0.0% |
| Amounts payable | 17/49 | €113,634 | €190,723 | +€77,089 | +67.8% |
| Amounts payable within one year | 42/48 | €113,634 | €190,723 | +€77,089 | +67.8% |
| Trade debts | 44 | €1,173 | €14,097 | +€12,925 | +1,102% |
| Suppliers | 440/4 | €1,173 | €14,097 | +€12,925 | +1,102% |
| Taxes, remuneration and social security | 45 | €49,461 | €59,394 | +€9,933 | +20.1% |
| Taxes | 450/3 | €49,461 | €59,394 | +€9,933 | +20.1% |
| Other amounts payable | 47/48 | €63,000 | €117,232 | +€54,232 | +86.1% |
| Turnover | 70 | €1,012,004 | €975,694 | -€36,310 | -3.6% |
| Non-recurring operating income | 76A | €16,000 | - | -€16,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €527,022 | €531,334 | +€4,311 | +0.8% |
| Remuneration, social security and pensions | 62 | €50,627 | €50,550 | -€77 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,180 | €209,430 | +€65,250 | +45.3% |
| Other operating charges | 640/8 | €2,302 | €2,801 | +€500 | +21.7% |
| Gross operating margin | 9900 | €500,982 | €444,360 | -€56,621 | -11.3% |
| Operating profit (loss) | 9901 | €303,873 | €181,578 | -€122,295 | -40.2% |
| Financial income | 75/76B | €12 | €8 | -€5 | -38.3% |
| Recurring financial income | 75 | €12 | €8 | -€5 | -38.3% |
| Financial charges | 65/66B | €531 | €537 | +€6 | +1.1% |
| Recurring financial charges | 65 | €531 | €537 | +€6 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €303,354 | €181,049 | -€122,305 | -40.3% |
| Income taxes | 67/77 | €83,261 | €47,124 | -€36,137 | -43.4% |
| Profit (loss) for the period | 9904 | €220,093 | €133,925 | -€86,168 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €220,093 | €133,925 | -€86,168 | -39.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.