RUSSO 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.
RUSSO FRERES
Largest movements
- Receivables within one year -€21,066
down €21,066 (-23.1%), from €91,190 to €70,123
of which Other amounts receivable: -€13,076
- Cash -€6,422
down €6,422 (-13.3%), from €48,469 to €42,047
mainly Trade debts (-€34,702) and Tax, wage and social debts (-€817)
- Tangible fixed assets -€3,999
down €3,999 (-43.8%), from €9,136 to €5,136
of which Furniture and vehicles: -€2,399
- Deferred charges and accrued income -€3,113
down €3,113 (-45.3%), from €6,877 to €3,764
- Trade debts -€34,702
down €34,702 (-49.0%), from €70,876 to €36,174
- Turnover -€255,753
down €255,753 (-17.2%), from €1.5m to €1.2m
- Purchases and services -€237,470
down €237,470 (-16.3%), from €1.5m to €1.2m
- Gross operating margin -€18,283
down €18,283 (-58.4%), from €31,295 to €13,012
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 | €162,519 | €127,258 | -€35,261 | -21.7% |
| Fixed assets | 21/28 | €15,984 | €11,324 | -€4,659 | -29.1% |
| Tangible fixed assets | 22/27 | €9,136 | €5,136 | -€3,999 | -43.8% |
| Furniture and vehicles | 24 | €4,336 | €1,936 | -€2,399 | -55.3% |
| Other tangible fixed assets | 26 | €4,800 | €3,200 | -€1,600 | -33.3% |
| Financial fixed assets | 28 | €6,848 | €6,188 | -€660 | -9.6% |
| Current assets | 29/58 | €146,536 | €115,934 | -€30,602 | -20.9% |
| Amounts receivable within one year | 40/41 | €91,190 | €70,123 | -€21,066 | -23.1% |
| Trade receivables | 40 | €54,870 | €46,879 | -€7,990 | -14.6% |
| Other amounts receivable | 41 | €36,320 | €23,244 | -€13,076 | -36.0% |
| Cash at bank and in hand | 54/58 | €48,469 | €42,047 | -€6,422 | -13.3% |
| Deferred charges and accrued income | 490/1 | €6,877 | €3,764 | -€3,113 | -45.3% |
| Total equity and liabilities | 10/49 | €162,519 | €127,258 | -€35,261 | -21.7% |
| Equity | 10/15 | €83,615 | €83,874 | +€259 | +0.3% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,755 | €82,014 | +€259 | +0.3% |
| Amounts payable | 17/49 | €78,904 | €43,384 | -€35,520 | -45.0% |
| Amounts payable within one year | 42/48 | €78,904 | €43,384 | -€35,520 | -45.0% |
| Trade debts | 44 | €70,876 | €36,174 | -€34,702 | -49.0% |
| Suppliers | 440/4 | €70,876 | €36,174 | -€34,702 | -49.0% |
| Taxes, remuneration and social security | 45 | €8,028 | €7,210 | -€817 | -10.2% |
| Taxes | 450/3 | €8,028 | €5,756 | -€2,271 | -28.3% |
| Remuneration and social security | 454/9 | - | €1,454 | +€1,454 | |
| Turnover | 70 | €1,489,225 | €1,233,472 | -€255,753 | -17.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,457,931 | €1,220,460 | -€237,470 | -16.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,800 | €3,999 | -€801 | -16.7% |
| Other operating charges | 640/8 | €6,043 | €8,751 | +€2,708 | +44.8% |
| Non-recurring operating charges | 66A | €1,024 | - | -€1,024 | |
| Gross operating margin | 9900 | €31,295 | €13,012 | -€18,283 | -58.4% |
| Operating profit (loss) | 9901 | €19,428 | €261 | -€19,167 | -98.7% |
| Financial income | 75/76B | €871 | €65 | -€806 | -92.5% |
| Recurring financial income | 75 | €871 | €65 | -€806 | -92.5% |
| Financial charges | 65/66B | €308 | €68 | -€240 | -78.0% |
| Recurring financial charges | 65 | €308 | €68 | -€240 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | €19,991 | €259 | -€19,732 | -98.7% |
| Income taxes | 67/77 | €7,597 | - | -€7,597 | |
| Profit (loss) for the period | 9904 | €12,394 | €259 | -€12,135 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,394 | €259 | -€12,135 | -97.9% |
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 11 October 2026 via checked.be.