BRACBORCH: 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.
BRACBORCH
Largest movements
- Current investments +€150,486
up €150,486 (+18.6%), from €807,316 to €957,802
- Receivables within one year -€45,260
down €45,260 (-56.1%), from €80,712 to €35,453
of which Other amounts receivable: -€41,840
- Cash +€37,594
up €37,594 (+12.0%), from €314,083 to €351,677
mainly Net result for the year (+€126,120) and Receivables within one year (+€45,260)
- Reserves +€126,120
up €126,120 (+17.6%), from €715,005 to €841,124
- Other debts +€19,577
up €19,577 (+4.2%), from €462,537 to €482,114
- Gross operating margin -€76,906
down €76,906 (-30.2%), from €255,036 to €178,130
- Taxes -€19,673
down €19,673 (-29.1%), from €67,511 to €47,838
- Financial income +€18,645
up €18,645 (+91.1%), from €20,459 to €39,104
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,216,274 | €1,354,261 | +€137,987 | +11.3% |
| Fixed assets | 21/28 | €14,162 | €9,328 | -€4,834 | -34.1% |
| Tangible fixed assets | 22/27 | €14,162 | €9,328 | -€4,834 | -34.1% |
| Plant, machinery and equipment | 23 | €2,695 | €2,067 | -€628 | -23.3% |
| Furniture and vehicles | 24 | €10,312 | €6,526 | -€3,786 | -36.7% |
| Other tangible fixed assets | 26 | €1,155 | €735 | -€420 | -36.4% |
| Current assets | 29/58 | €1,202,112 | €1,344,933 | +€142,821 | +11.9% |
| Amounts receivable within one year | 40/41 | €80,712 | €35,453 | -€45,260 | -56.1% |
| Trade receivables | 40 | €27,483 | €24,064 | -€3,420 | -12.4% |
| Other amounts receivable | 41 | €53,229 | €11,389 | -€41,840 | -78.6% |
| Current investments | 50/53 | €807,316 | €957,802 | +€150,486 | +18.6% |
| Cash at bank and in hand | 54/58 | €314,083 | €351,677 | +€37,594 | +12.0% |
| Total equity and liabilities | 10/49 | €1,216,274 | €1,354,261 | +€137,987 | +11.3% |
| Equity | 10/15 | €733,605 | €859,724 | +€126,120 | +17.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €715,005 | €841,124 | +€126,120 | +17.6% |
| Distributable reserves | 133 | €715,005 | €841,124 | +€126,120 | +17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €482,669 | €494,537 | +€11,868 | +2.5% |
| Amounts payable within one year | 42/48 | €482,669 | €494,537 | +€11,868 | +2.5% |
| Trade debts | 44 | €1,535 | €185 | -€1,350 | -87.9% |
| Suppliers | 440/4 | €1,535 | €185 | -€1,350 | -87.9% |
| Taxes, remuneration and social security | 45 | €18,597 | €12,238 | -€6,359 | -34.2% |
| Taxes | 450/3 | €18,597 | €12,238 | -€6,359 | -34.2% |
| Other amounts payable | 47/48 | €462,537 | €482,114 | +€19,577 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,423 | €6,332 | -€1,091 | -14.7% |
| Other operating charges | 640/8 | €3,094 | €2,582 | -€512 | -16.5% |
| Gross operating margin | 9900 | €255,036 | €178,130 | -€76,906 | -30.2% |
| Operating profit (loss) | 9901 | €244,519 | €169,217 | -€75,302 | -30.8% |
| Financial income | 75/76B | €20,459 | €39,104 | +€18,645 | +91.1% |
| Recurring financial income | 75 | €20,459 | €39,104 | +€18,645 | +91.1% |
| Financial charges | 65/66B | €36,719 | €34,364 | -€2,355 | -6.4% |
| Recurring financial charges | 65 | €36,719 | €34,364 | -€2,355 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €228,259 | €173,957 | -€54,302 | -23.8% |
| Income taxes | 67/77 | €67,511 | €47,838 | -€19,673 | -29.1% |
| Profit (loss) for the period | 9904 | €160,749 | €126,120 | -€34,629 | -21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €160,749 | €126,120 | -€34,629 | -21.5% |
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 15 October 2026 via checked.be.