ROBERT FRERES: 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.
ROBERT FRERES
Largest movements
- Tangible fixed assets +€11,614
up €11,614 (+201.9%), from €5,752 to €17,366
of which Furniture and vehicles: +€9,514
- Stocks and contracts -€3,755
down €3,755 (-12.9%), from €29,157 to €25,402
- Receivables within one year +€2,897
up €2,897 (+22.0%), from €13,187 to €16,084
of which Trade receivables: +€2,175
- Deferred charges and accrued income +€1,353
up €1,353 (+164.1%), from €825 to €2,178
- Cash -€904
down €904 (-32.6%), from €2,772 to €1,868
mainly Investment in fixed assets (net) (-€18,332) and Net result for the year (-€14,510)
- Debts after one year +€24,573
up €24,573 (+18.9%), from €129,990 to €154,563
- Profit (loss) carried forward -€14,510
down €14,510 (-14.8%), from -€98,188 to -€112,698
- Trade debts +€1,146
up €1,146 (+120.8%), from €949 to €2,095
- Gross operating margin -€16,469
down €16,469, from €9,952 to -€6,517
- Depreciation -€1,003
down €1,003 (-13.0%), from €7,722 to €6,718
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 | €51,693 | €62,897 | +€11,205 | +21.7% |
| Fixed assets | 21/28 | €5,752 | €17,366 | +€11,614 | +201.9% |
| Tangible fixed assets | 22/27 | €5,752 | €17,366 | +€11,614 | +201.9% |
| Plant, machinery and equipment | 23 | €2,441 | €4,541 | +€2,100 | +86.1% |
| Furniture and vehicles | 24 | €3,311 | €12,825 | +€9,514 | +287.3% |
| Current assets | 29/58 | €45,941 | €45,531 | -€409 | -0.9% |
| Stocks and contracts in progress | 3 | €29,157 | €25,402 | -€3,755 | -12.9% |
| Stocks | 30/36 | €29,157 | €25,402 | -€3,755 | -12.9% |
| Amounts receivable within one year | 40/41 | €13,187 | €16,084 | +€2,897 | +22.0% |
| Trade receivables | 40 | €12,179 | €14,354 | +€2,175 | +17.9% |
| Other amounts receivable | 41 | €1,007 | €1,730 | +€722 | +71.7% |
| Cash at bank and in hand | 54/58 | €2,772 | €1,868 | -€904 | -32.6% |
| Deferred charges and accrued income | 490/1 | €825 | €2,178 | +€1,353 | +164.1% |
| Total equity and liabilities | 10/49 | €51,693 | €62,897 | +€11,205 | +21.7% |
| Equity | 10/15 | -€79,253 | -€93,763 | -€14,510 | -18.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €335 | €335 | = | 0.0% |
| Distributable reserves | 133 | €335 | €335 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,188 | -€112,698 | -€14,510 | -14.8% |
| Amounts payable | 17/49 | €130,946 | €156,661 | +€25,715 | +19.6% |
| Amounts payable after more than one year | 17 | €129,990 | €154,563 | +€24,573 | +18.9% |
| Other amounts payable | 178/9 | €129,990 | €154,563 | +€24,573 | +18.9% |
| Amounts payable within one year | 42/48 | €956 | €2,098 | +€1,142 | +119.4% |
| Trade debts | 44 | €949 | €2,095 | +€1,146 | +120.8% |
| Suppliers | 440/4 | €949 | €2,095 | +€1,146 | +120.8% |
| Taxes, remuneration and social security | 45 | €7 | €3 | -€5 | -64.3% |
| Taxes | 450/3 | €7 | €3 | -€5 | -64.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,722 | €6,718 | -€1,003 | -13.0% |
| Other operating charges | 640/8 | €945 | €1,042 | +€97 | +10.3% |
| Gross operating margin | 9900 | €9,952 | -€6,517 | -€16,469 | |
| Operating profit (loss) | 9901 | €1,285 | -€14,278 | -€15,563 | |
| Financial charges | 65/66B | €55 | €70 | +€15 | +27.3% |
| Recurring financial charges | 65 | €55 | €70 | +€15 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | €1,230 | -€14,348 | -€15,578 | |
| Income taxes | 67/77 | €157 | €163 | +€6 | +3.5% |
| Profit (loss) for the period | 9904 | €1,073 | -€14,510 | -€15,583 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,073 | -€14,510 | -€15,583 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.