Bernd Braun: 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.
What changed
Bernd Braun
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€103,063
2024 · €102,581+€482
Equity
€393,311
2024 · €320,014+€73,297
Cash
€276,718
2024 · €274,231+€2,487
Balance sheet total
€838,904
2024 · €760,384+€78,519
Largest movements
Assets
- Receivables after one year +€90,000
up €90,000 (+900%), from €10,000 to €100,000
- Tangible fixed assets -€15,442
down €15,442 (-4.4%), from €352,649 to €337,207
of which Land and buildings: -€12,006
Equity and liabilities
- Reserves +€73,297
up €73,297 (+23.8%), from €307,614 to €380,911
of which Distributable reserves: +€73,297
- Debts after one year -€17,259
down €17,259 (-4.8%), from €359,355 to €342,097
- Other debts +€16,999
up €16,999 (+97.6%), from €17,418 to €34,416
Income statement
- Financial income +€3,009
up €3,009 (+184%), from €1,637 to €4,646
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.
Result 2024
€102,581
Gross operating margin
-€1,264
Depreciation
-€612
Other operating charges
-€966
Financial income
+€3,009
Financial charges
+€518
Taxes
-€204
Result 2025
€103,063
raises the resultlowers the result
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.
From operations
+€55,564
Investment
-€6,695
Financing
-€46,383
Cash 2024
€274,231
From operations (derived)
+€55,564
Net result for the year
+€103,063
Depreciation
+€21,150
Receivables after one year
-€90,000
Receivables within one year
-€466
Deferred charges and accrued income
-€22
Trade debts
+€943
Tax, wage and social debts
+€3,898
Other debts
+€16,999
Investment (derived)
-€6,695
Investment in fixed assets (net)
-€5,707
Current investments
-€988
Financing
-€46,383
Debts after one year
-€17,259
Current portion of long-term debt
+€641
Contributions, distributions and other
-€29,765
Cash 2025
€276,718
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €760,384 | €838,904 | +€78,519 | +10.3% |
| Fixed assets | 21/28 | €352,649 | €337,207 | -€15,442 | -4.4% |
| Tangible fixed assets | 22/27 | €352,649 | €337,207 | -€15,442 | -4.4% |
| Land and buildings | 22 | €228,524 | €216,518 | -€12,006 | -5.3% |
| Furniture and vehicles | 24 | €4,059 | €7,642 | +€3,582 | +88.3% |
| Leasing and similar rights | 25 | €120,066 | €113,047 | -€7,019 | -5.8% |
| Current assets | 29/58 | €407,735 | €501,697 | +€93,962 | +23.0% |
| Amounts receivable after more than one year | 29 | €10,000 | €100,000 | +€90,000 | +900% |
| Other amounts receivable | 291 | €10,000 | €100,000 | +€90,000 | +900% |
| Amounts receivable within one year | 40/41 | €22,735 | €23,201 | +€466 | +2.0% |
| Trade receivables | 40 | €22,735 | €23,201 | +€466 | +2.0% |
| Current investments | 50/53 | €100,504 | €101,492 | +€988 | +1.0% |
| Cash at bank and in hand | 54/58 | €274,231 | €276,718 | +€2,487 | +0.9% |
| Deferred charges and accrued income | 490/1 | €265 | €286 | +€22 | +8.2% |
| Total equity and liabilities | 10/49 | €760,384 | €838,904 | +€78,519 | +10.3% |
| Equity | 10/15 | €320,014 | €393,311 | +€73,297 | +22.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €307,614 | €380,911 | +€73,297 | +23.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,372 | €1,372 | = | 0.0% |
| Distributable reserves | 133 | €304,382 | €377,679 | +€73,297 | +24.1% |
| Amounts payable | 17/49 | €440,370 | €445,593 | +€5,222 | +1.2% |
| Amounts payable after more than one year | 17 | €359,355 | €342,097 | -€17,259 | -4.8% |
| Financial debts | 170/4 | €359,355 | €342,097 | -€17,259 | -4.8% |
| Amounts payable within one year | 42/48 | €81,015 | €103,496 | +€22,481 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €16,617 | €17,259 | +€641 | +3.9% |
| Trade debts | 44 | €8,444 | €9,387 | +€943 | +11.2% |
| Suppliers | 440/4 | €8,444 | €9,387 | +€943 | +11.2% |
| Taxes, remuneration and social security | 45 | €38,535 | €42,433 | +€3,898 | +10.1% |
| Taxes | 450/3 | €38,535 | €42,433 | +€3,898 | +10.1% |
| Other amounts payable | 47/48 | €17,418 | €34,416 | +€16,999 | +97.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,538 | €21,150 | +€612 | +3.0% |
| Other operating charges | 640/8 | €3,442 | €4,407 | +€966 | +28.1% |
| Gross operating margin | 9900 | €186,816 | €185,553 | -€1,264 | -0.7% |
| Operating profit (loss) | 9901 | €162,837 | €159,996 | -€2,841 | -1.7% |
| Financial income | 75/76B | €1,637 | €4,646 | +€3,009 | +184% |
| Recurring financial income | 75 | €1,637 | €4,646 | +€3,009 | +184% |
| Financial charges | 65/66B | €20,218 | €19,701 | -€518 | -2.6% |
| Recurring financial charges | 65 | €20,218 | €19,701 | -€518 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €144,255 | €144,941 | +€686 | +0.5% |
| Income taxes | 67/77 | €41,674 | €41,878 | +€204 | +0.5% |
| Profit (loss) for the period | 9904 | €102,581 | €103,063 | +€482 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €102,581 | €103,063 | +€482 | +0.5% |
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 19 October 2026 via checked.be.