br.ed.er.: 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.
br.ed.er.
Largest movements
- Cash +€68,792
up €68,792 (+47.3%), from €145,476 to €214,268
mainly Net result for the year (+€34,746) and Receivables within one year (+€33,460)
- Receivables within one year -€33,460
down €33,460 (-84.1%), from €39,786 to €6,326
of which Trade receivables: -€35,724
- Tangible fixed assets +€3,134
up €3,134 (+424.5%), from €738 to €3,872
of which Furniture and vehicles: +€2,210
- Reserves +€34,746
up €34,746 (+33.1%), from €105,081 to €139,828
- Trade debts +€2,895
up €2,895 (+148.3%), from €1,952 to €4,847
- Gross operating margin -€4,181
down €4,181 (-8.0%), from €51,976 to €47,795
- Taxes +€2,312
up €2,312 (+28.2%), from €8,188 to €10,500
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 | €186,481 | €224,844 | +€38,363 | +20.6% |
| Fixed assets | 21/28 | €738 | €3,872 | +€3,134 | +424.5% |
| Tangible fixed assets | 22/27 | €738 | €3,872 | +€3,134 | +424.5% |
| Plant, machinery and equipment | 23 | - | €924 | +€924 | |
| Furniture and vehicles | 24 | €738 | €2,948 | +€2,210 | +299.3% |
| Current assets | 29/58 | €185,743 | €220,972 | +€35,229 | +19.0% |
| Amounts receivable within one year | 40/41 | €39,786 | €6,326 | -€33,460 | -84.1% |
| Trade receivables | 40 | €35,724 | - | -€35,724 | |
| Other amounts receivable | 41 | €4,062 | €6,326 | +€2,264 | +55.7% |
| Cash at bank and in hand | 54/58 | €145,476 | €214,268 | +€68,792 | +47.3% |
| Deferred charges and accrued income | 490/1 | €480 | €378 | -€103 | -21.4% |
| Total equity and liabilities | 10/49 | €186,481 | €224,844 | +€38,363 | +20.6% |
| Equity | 10/15 | €145,861 | €180,608 | +€34,746 | +23.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €105,081 | €139,828 | +€34,746 | +33.1% |
| Distributable reserves | 133 | €105,081 | €139,828 | +€34,746 | +33.1% |
| Profit (loss) carried forward | 14 | €35,780 | €35,780 | = | 0.0% |
| Amounts payable | 17/49 | €40,619 | €44,236 | +€3,617 | +8.9% |
| Amounts payable within one year | 42/48 | €38,265 | €41,882 | +€3,617 | +9.5% |
| Trade debts | 44 | €1,952 | €4,847 | +€2,895 | +148.3% |
| Suppliers | 440/4 | €1,952 | €4,847 | +€2,895 | +148.3% |
| Taxes, remuneration and social security | 45 | €26,314 | €27,035 | +€722 | +2.7% |
| Taxes | 450/3 | €23,629 | €22,815 | -€815 | -3.4% |
| Remuneration and social security | 454/9 | €2,684 | €4,221 | +€1,536 | +57.2% |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,354 | €2,354 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,147 | €1,074 | -€73 | -6.4% |
| Other operating charges | 640/8 | €592 | €610 | +€18 | +3.0% |
| Gross operating margin | 9900 | €51,976 | €47,795 | -€4,181 | -8.0% |
| Operating profit (loss) | 9901 | €50,238 | €46,112 | -€4,126 | -8.2% |
| Financial income | 75/76B | €296 | €6 | -€290 | -98.0% |
| Recurring financial income | 75 | €296 | €6 | -€290 | -98.0% |
| Financial charges | 65/66B | €1,384 | €872 | -€512 | -37.0% |
| Recurring financial charges | 65 | €1,384 | €872 | -€512 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €49,149 | €45,246 | -€3,903 | -7.9% |
| Income taxes | 67/77 | €8,188 | €10,500 | +€2,312 | +28.2% |
| Profit (loss) for the period | 9904 | €40,961 | €34,746 | -€6,214 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,961 | €34,746 | -€6,214 | -15.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.