BRACKMAN FRERES: 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.
BRACKMAN FRERES
Largest movements
- Tangible fixed assets +€34,402
up €34,402 (+3.3%), from €1.0m to €1.1m
of which Plant, machinery and equipment: +€17,921
- Cash -€32,220
down €32,220 (-22.9%), from €140,652 to €108,432
mainly Investment in fixed assets (net) (-€72,926) and Debts after one year (-€71,054)
- Receivables within one year -€25,517
down €25,517 (-6.1%), from €415,892 to €390,375
of which Trade receivables: -€39,182
- Debts after one year -€71,054
down €71,054 (-13.2%), from €536,932 to €465,878
- Trade debts +€50,891
up €50,891 (+17.4%), from €291,904 to €342,795
- Staff costs +€146,797
up €146,797 (+18.9%), from €774,769 to €921,566
- Gross operating margin +€110,468
up €110,468 (+11.7%), from €946,497 to €1.1m
- Depreciation -€24,895
down €24,895 (-38.4%), from €64,818 to €39,923
- Financial charges -€14,202
down €14,202 (-19.9%), from €71,279 to €57,077
of which Non-recurring financial charges: -€8,233
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 | €1,952,182 | €1,918,723 | -€33,459 | -1.7% |
| Fixed assets | 21/28 | €1,051,985 | €1,084,988 | +€33,003 | +3.1% |
| Tangible fixed assets | 22/27 | €1,029,342 | €1,063,744 | +€34,402 | +3.3% |
| Land and buildings | 22 | €931,613 | €942,089 | +€10,476 | +1.1% |
| Plant, machinery and equipment | 23 | €49,372 | €67,293 | +€17,921 | +36.3% |
| Furniture and vehicles | 24 | €48,357 | €54,362 | +€6,005 | +12.4% |
| Financial fixed assets | 28 | €22,643 | €21,244 | -€1,399 | -6.2% |
| Current assets | 29/58 | €900,197 | €833,735 | -€66,462 | -7.4% |
| Stocks and contracts in progress | 3 | €335,197 | €324,469 | -€10,728 | -3.2% |
| Stocks | 30/36 | €335,197 | €324,469 | -€10,728 | -3.2% |
| Amounts receivable within one year | 40/41 | €415,892 | €390,375 | -€25,517 | -6.1% |
| Trade receivables | 40 | €293,161 | €253,979 | -€39,182 | -13.4% |
| Other amounts receivable | 41 | €122,731 | €136,396 | +€13,665 | +11.1% |
| Current investments | 50/53 | €18 | €30 | +€12 | +66.7% |
| Cash at bank and in hand | 54/58 | €140,652 | €108,432 | -€32,220 | -22.9% |
| Deferred charges and accrued income | 490/1 | €8,438 | €10,429 | +€1,991 | +23.6% |
| Total equity and liabilities | 10/49 | €1,952,182 | €1,918,723 | -€33,459 | -1.7% |
| Equity | 10/15 | €738,984 | €746,770 | +€7,786 | +1.1% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Revaluation surpluses | 12 | €195,000 | €195,000 | = | 0.0% |
| Reserves | 13 | €393,723 | €401,723 | +€8,000 | +2.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,223 | €3,223 | = | 0.0% |
| Distributable reserves | 133 | €375,500 | €383,500 | +€8,000 | +2.1% |
| Profit (loss) carried forward | 14 | €261 | €47 | -€214 | -82.0% |
| Amounts payable | 17/49 | €1,213,198 | €1,171,953 | -€41,245 | -3.4% |
| Amounts payable after more than one year | 17 | €536,932 | €465,878 | -€71,054 | -13.2% |
| Financial debts | 170/4 | €536,932 | €465,878 | -€71,054 | -13.2% |
| Amounts payable within one year | 42/48 | €664,928 | €706,075 | +€41,147 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €169,418 | €154,947 | -€14,471 | -8.5% |
| Trade debts | 44 | €291,904 | €342,795 | +€50,891 | +17.4% |
| Suppliers | 440/4 | €291,904 | €342,795 | +€50,891 | +17.4% |
| Taxes, remuneration and social security | 45 | €76,764 | €92,767 | +€16,003 | +20.8% |
| Taxes | 450/3 | €15,408 | €15,904 | +€496 | +3.2% |
| Remuneration and social security | 454/9 | €61,356 | €76,863 | +€15,507 | +25.3% |
| Other amounts payable | 47/48 | €126,842 | €115,566 | -€11,276 | -8.9% |
| Accrued charges and deferred income | 492/3 | €11,338 | - | -€11,338 | |
| Non-recurring operating income | 76A | €3,200 | €3,300 | +€100 | +3.1% |
| Remuneration, social security and pensions | 62 | €774,769 | €921,566 | +€146,797 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,818 | €39,923 | -€24,895 | -38.4% |
| Other operating charges | 640/8 | €29,962 | €35,248 | +€5,286 | +17.6% |
| Gross operating margin | 9900 | €946,497 | €1,056,965 | +€110,468 | +11.7% |
| Operating profit (loss) | 9901 | €76,948 | €60,228 | -€16,720 | -21.7% |
| Financial income | 75/76B | €5,035 | €9,351 | +€4,316 | +85.7% |
| Recurring financial income | 75 | €35 | €9,351 | +€9,316 | +26,617% |
| Non-recurring financial income | 76B | €5,000 | - | -€5,000 | |
| Financial charges | 65/66B | €71,279 | €57,077 | -€14,202 | -19.9% |
| Recurring financial charges | 65 | €56,280 | €50,311 | -€5,969 | -10.6% |
| Non-recurring financial charges | 66B | €14,999 | €6,766 | -€8,233 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | €10,704 | €12,502 | +€1,798 | +16.8% |
| Income taxes | 67/77 | €3,821 | €4,716 | +€895 | +23.4% |
| Profit (loss) for the period | 9904 | €6,883 | €7,786 | +€903 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,883 | €7,786 | +€903 | +13.1% |
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 14 October 2026 via checked.be.