BRACE2U: 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.
BRACE2U
Largest movements
- Receivables within one year -€213,288
down €213,288 (-70.0%), from €304,881 to €91,592
of which Trade receivables: -€207,053
- Cash +€72,137
up €72,137 (+85.6%), from €84,259 to €156,397
mainly Receivables within one year (+€213,288) and Net result for the year (+€119,033)
- Stocks and contracts +€32,864
new in 2025: €32,864
- Trade debts -€228,722
down €228,722 (-80.5%), from €284,073 to €55,351
- Other debts +€68,796
up €68,796 (+632.7%), from €10,873 to €79,669
- Tax, wage and social debts +€29,516
up €29,516 (+477.0%), from €6,188 to €35,704
of which Taxes: +€26,391
- Profit (loss) carried forward +€19,033
up €19,033 (+10.9%), from €175,106 to €194,139
- Gross operating margin +€149,623
up €149,623 (+207.8%), from €71,989 to €221,612
- Taxes +€31,721
up €31,721 (+570.5%), from €5,560 to €37,282
- Staff costs +€14,734
new in 2025: €14,734
- Financial charges -€3,770
down €3,770 (-19.5%), from €19,369 to €15,599
- Other operating charges +€2,382
up €2,382 (+104.2%), from €2,285 to €4,666
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 | €772,851 | €664,471 | -€108,380 | -14.0% |
| Fixed assets | 21/28 | €382,077 | €381,604 | -€474 | -0.1% |
| Tangible fixed assets | 22/27 | €382,077 | €381,604 | -€474 | -0.1% |
| Land and buildings | 22 | €271,579 | €280,022 | +€8,443 | +3.1% |
| Plant, machinery and equipment | 23 | €97,871 | €88,777 | -€9,094 | -9.3% |
| Furniture and vehicles | 24 | €11,057 | €11,235 | +€177 | +1.6% |
| Other tangible fixed assets | 26 | €1,570 | €1,570 | = | 0.0% |
| Current assets | 29/58 | €390,774 | €282,868 | -€107,906 | -27.6% |
| Stocks and contracts in progress | 3 | - | €32,864 | +€32,864 | |
| Stocks | 30/36 | - | €32,864 | +€32,864 | |
| Amounts receivable within one year | 40/41 | €304,881 | €91,592 | -€213,288 | -70.0% |
| Trade receivables | 40 | €296,609 | €89,557 | -€207,053 | -69.8% |
| Other amounts receivable | 41 | €8,271 | €2,036 | -€6,235 | -75.4% |
| Cash at bank and in hand | 54/58 | €84,259 | €156,397 | +€72,137 | +85.6% |
| Deferred charges and accrued income | 490/1 | €1,634 | €2,015 | +€381 | +23.3% |
| Total equity and liabilities | 10/49 | €772,851 | €664,471 | -€108,380 | -14.0% |
| Equity | 10/15 | €187,506 | €206,539 | +€19,033 | +10.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,106 | €194,139 | +€19,033 | +10.9% |
| Amounts payable | 17/49 | €585,345 | €457,932 | -€127,413 | -21.8% |
| Amounts payable after more than one year | 17 | €264,638 | €260,033 | -€4,605 | -1.7% |
| Financial debts | 170/4 | €264,638 | €260,033 | -€4,605 | -1.7% |
| Amounts payable within one year | 42/48 | €320,360 | €195,431 | -€124,929 | -39.0% |
| Current portion of amounts payable after more than one year | 42 | €19,226 | €24,708 | +€5,482 | +28.5% |
| Trade debts | 44 | €284,073 | €55,351 | -€228,722 | -80.5% |
| Suppliers | 440/4 | €284,073 | €55,351 | -€228,722 | -80.5% |
| Taxes, remuneration and social security | 45 | €6,188 | €35,704 | +€29,516 | +477.0% |
| Taxes | 450/3 | €2,968 | €29,359 | +€26,391 | +889.1% |
| Remuneration and social security | 454/9 | €3,220 | €6,345 | +€3,125 | +97.0% |
| Other amounts payable | 47/48 | €10,873 | €79,669 | +€68,796 | +632.7% |
| Accrued charges and deferred income | 492/3 | €347 | €2,468 | +€2,121 | +611.3% |
| Non-recurring operating income | 76A | - | €459 | +€459 | |
| Remuneration, social security and pensions | 62 | - | €14,734 | +€14,734 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,406 | €30,429 | +€1,023 | +3.5% |
| Other operating charges | 640/8 | €2,285 | €4,666 | +€2,382 | +104.2% |
| Non-recurring operating charges | 66A | €242 | €736 | +€494 | +203.8% |
| Gross operating margin | 9900 | €71,989 | €221,612 | +€149,623 | +207.8% |
| Operating profit (loss) | 9901 | €40,057 | €171,047 | +€130,990 | +327.0% |
| Financial income | 75/76B | €201 | €866 | +€665 | +330.8% |
| Recurring financial income | 75 | €201 | €866 | +€665 | +330.8% |
| Financial charges | 65/66B | €19,369 | €15,599 | -€3,770 | -19.5% |
| Recurring financial charges | 65 | €19,369 | €15,599 | -€3,770 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €20,889 | €156,315 | +€135,426 | +648.3% |
| Income taxes | 67/77 | €5,560 | €37,282 | +€31,721 | +570.5% |
| Profit (loss) for the period | 9904 | €15,329 | €119,033 | +€103,704 | +676.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,329 | €119,033 | +€103,704 | +676.5% |
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 3 October 2026 via checked.be.