Brades: 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.
Brades
Largest movements
- Current investments +€270,000
up €270,000 (+1350.0%), from €20,000 to €290,000
- Receivables within one year -€169,176
down €169,176 (-77.6%), from €218,081 to €48,905
of which Other amounts receivable: -€190,948
- Cash +€61,314
up €61,314 (+572.6%), from €10,707 to €72,021
mainly Receivables within one year (+€169,176) and Net result for the year (+€131,402)
- Tangible fixed assets -€48,466
down €48,466 (-8.2%), from €587,626 to €539,160
- Reserves +€81,402
up €81,402 (+14.2%), from €573,991 to €655,393
of which Distributable reserves: +€81,402
- Other debts +€35,000
new in 2025: €35,000
- Tax, wage and social debts +€26,719
up €26,719 (+322.0%), from €8,299 to €35,017
of which Taxes: +€26,719
- Debts after one year -€25,862
down €25,862 (-13.2%), from €195,861 to €169,999
- Gross operating margin -€38,886
down €38,886 (-12.9%), from €300,839 to €261,953
- Taxes -€14,518
down €14,518 (-21.7%), from €66,987 to €52,469
- Depreciation +€3,774
up €3,774 (+5.7%), from €66,568 to €70,342
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 | €838,462 | €950,887 | +€112,425 | +13.4% |
| Fixed assets | 21/28 | €588,426 | €539,960 | -€48,466 | -8.2% |
| Tangible fixed assets | 22/27 | €587,626 | €539,160 | -€48,466 | -8.2% |
| Land and buildings | 22 | €300,747 | €277,478 | -€23,269 | -7.7% |
| Plant, machinery and equipment | 23 | €259,844 | €247,473 | -€12,371 | -4.8% |
| Furniture and vehicles | 24 | €27,034 | €14,209 | -€12,825 | -47.4% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €250,036 | €410,927 | +€160,891 | +64.3% |
| Amounts receivable within one year | 40/41 | €218,081 | €48,905 | -€169,176 | -77.6% |
| Trade receivables | 40 | €24,616 | €46,388 | +€21,773 | +88.5% |
| Other amounts receivable | 41 | €193,466 | €2,517 | -€190,948 | -98.7% |
| Current investments | 50/53 | €20,000 | €290,000 | +€270,000 | +1350.0% |
| Cash at bank and in hand | 54/58 | €10,707 | €72,021 | +€61,314 | +572.6% |
| Deferred charges and accrued income | 490/1 | €1,247 | - | -€1,247 | |
| Total equity and liabilities | 10/49 | €838,462 | €950,887 | +€112,425 | +13.4% |
| Equity | 10/15 | €592,591 | €673,993 | +€81,402 | +13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €573,991 | €655,393 | +€81,402 | +14.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €572,131 | €653,533 | +€81,402 | +14.2% |
| Amounts payable | 17/49 | €245,871 | €276,894 | +€31,023 | +12.6% |
| Amounts payable after more than one year | 17 | €195,861 | €169,999 | -€25,862 | -13.2% |
| Financial debts | 170/4 | €195,861 | €169,999 | -€25,862 | -13.2% |
| Amounts payable within one year | 42/48 | €50,010 | €106,895 | +€56,885 | +113.7% |
| Current portion of amounts payable after more than one year | 42 | €25,633 | €25,862 | +€229 | +0.9% |
| Financial debts | 43 | €3,410 | €3,402 | -€8 | -0.2% |
| Credit institutions | 430/8 | €3,410 | €3,402 | -€8 | -0.2% |
| Trade debts | 44 | €12,668 | €7,614 | -€5,055 | -39.9% |
| Suppliers | 440/4 | €12,668 | €7,614 | -€5,055 | -39.9% |
| Taxes, remuneration and social security | 45 | €8,299 | €35,017 | +€26,719 | +322.0% |
| Taxes | 450/3 | €6,790 | €33,508 | +€26,719 | +393.5% |
| Remuneration and social security | 454/9 | €1,509 | €1,509 | = | 0.0% |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,568 | €70,342 | +€3,774 | +5.7% |
| Other operating charges | 640/8 | €2,323 | €1,804 | -€519 | -22.3% |
| Gross operating margin | 9900 | €300,839 | €261,953 | -€38,886 | -12.9% |
| Operating profit (loss) | 9901 | €231,948 | €189,807 | -€42,141 | -18.2% |
| Financial income | 75/76B | €658 | €21 | -€637 | -96.8% |
| Recurring financial income | 75 | €658 | €21 | -€637 | -96.8% |
| Financial charges | 65/66B | €7,733 | €5,956 | -€1,777 | -23.0% |
| Recurring financial charges | 65 | €7,733 | €5,956 | -€1,777 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €224,873 | €183,872 | -€41,002 | -18.2% |
| Income taxes | 67/77 | €66,987 | €52,469 | -€14,518 | -21.7% |
| Profit (loss) for the period | 9904 | €157,886 | €131,402 | -€26,484 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €157,886 | €131,402 | -€26,484 | -16.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.