Bracke - Scheirlinckx: 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.
Bracke - Scheirlinckx
Largest movements
- Stocks and contracts -€95,780
down €95,780 (-40.3%), from €237,411 to €141,630
- Tangible fixed assets -€19,809
down €19,809 (-13.4%), from €147,806 to €127,997
- Receivables within one year -€8,084
down €8,084 (-72.6%), from €11,133 to €3,049
of which Trade receivables: -€8,091
- Cash -€5,310
down €5,310 (-32.9%), from €16,148 to €10,839
mainly Contributions, distributions and other (-€50,000) and Debts after one year (-€22,497)
- Profit (loss) carried forward -€37,678
down €37,678 (-40.1%), from €93,939 to €56,260
- Debts after one year -€22,497
down €22,497 (-22.6%), from €99,501 to €77,003
- Trade debts -€21,772
down €21,772 (-54.5%), from €39,936 to €18,164
- Short-term financial debts -€15,000
down €15,000 (-42.9%), from €35,000 to €20,000
- Current portion of long-term debt -€14,531
down €14,531 (-39.2%), from €37,028 to €22,497
- Financial charges -€4,854
down €4,854 (-34.7%), from €14,007 to €9,153
- Gross operating margin -€4,736
down €4,736 (-9.1%), from €51,968 to €47,232
- Depreciation +€1,424
up €1,424 (+7.7%), from €18,385 to €19,809
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 | €416,219 | €285,384 | -€130,835 | -31.4% |
| Fixed assets | 21/28 | €147,806 | €127,997 | -€19,809 | -13.4% |
| Tangible fixed assets | 22/27 | €147,806 | €127,997 | -€19,809 | -13.4% |
| Land and buildings | 22 | €109,112 | €99,453 | -€9,659 | -8.9% |
| Plant, machinery and equipment | 23 | €32,710 | €28,544 | -€4,166 | -12.7% |
| Other tangible fixed assets | 26 | €5,984 | - | -€5,984 | |
| Current assets | 29/58 | €268,413 | €157,387 | -€111,026 | -41.4% |
| Stocks and contracts in progress | 3 | €237,411 | €141,630 | -€95,780 | -40.3% |
| Stocks | 30/36 | €237,411 | €141,630 | -€95,780 | -40.3% |
| Amounts receivable within one year | 40/41 | €11,133 | €3,049 | -€8,084 | -72.6% |
| Trade receivables | 40 | €8,767 | €676 | -€8,091 | -92.3% |
| Other amounts receivable | 41 | €2,366 | €2,373 | +€7 | +0.3% |
| Cash at bank and in hand | 54/58 | €16,148 | €10,839 | -€5,310 | -32.9% |
| Deferred charges and accrued income | 490/1 | €3,721 | €1,868 | -€1,852 | -49.8% |
| Total equity and liabilities | 10/49 | €416,219 | €285,384 | -€130,835 | -31.4% |
| Equity | 10/15 | €103,939 | €66,260 | -€37,678 | -36.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,939 | €56,260 | -€37,678 | -40.1% |
| Amounts payable | 17/49 | €312,280 | €219,124 | -€93,156 | -29.8% |
| Amounts payable after more than one year | 17 | €99,501 | €77,003 | -€22,497 | -22.6% |
| Financial debts | 170/4 | €99,501 | €77,003 | -€22,497 | -22.6% |
| Amounts payable within one year | 42/48 | €204,885 | €142,121 | -€62,764 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €37,028 | €22,497 | -€14,531 | -39.2% |
| Financial debts | 43 | €35,000 | €20,000 | -€15,000 | -42.9% |
| Credit institutions | 430/8 | €35,000 | €20,000 | -€15,000 | -42.9% |
| Trade debts | 44 | €39,936 | €18,164 | -€21,772 | -54.5% |
| Suppliers | 440/4 | €39,936 | €18,164 | -€21,772 | -54.5% |
| Taxes, remuneration and social security | 45 | €28,264 | €22,861 | -€5,404 | -19.1% |
| Taxes | 450/3 | €28,264 | €22,861 | -€5,404 | -19.1% |
| Other amounts payable | 47/48 | €64,656 | €58,598 | -€6,058 | -9.4% |
| Accrued charges and deferred income | 492/3 | €7,895 | - | -€7,895 | |
| Non-recurring operating income | 76A | €4,174 | - | -€4,174 | |
| Remuneration, social security and pensions | 62 | €36 | - | -€36 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,385 | €19,809 | +€1,424 | +7.7% |
| Other operating charges | 640/8 | €3,138 | €3,236 | +€98 | +3.1% |
| Gross operating margin | 9900 | €51,968 | €47,232 | -€4,736 | -9.1% |
| Operating profit (loss) | 9901 | €30,409 | €24,187 | -€6,222 | -20.5% |
| Financial income | 75/76B | €952 | €919 | -€33 | -3.4% |
| Recurring financial income | 75 | €952 | €919 | -€33 | -3.4% |
| Financial charges | 65/66B | €14,007 | €9,153 | -€4,854 | -34.7% |
| Recurring financial charges | 65 | €14,007 | €9,153 | -€4,854 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €17,353 | €15,953 | -€1,401 | -8.1% |
| Income taxes | 67/77 | €3,638 | €3,631 | -€7 | -0.2% |
| Profit (loss) for the period | 9904 | €13,715 | €12,322 | -€1,393 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,715 | €12,322 | -€1,393 | -10.2% |
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 8 October 2026 via checked.be.