BRAECKE: 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.
BRAECKE
Largest movements
- Receivables within one year +€159,216
up €159,216 (+45.9%), from €347,160 to €506,376
of which Trade receivables: +€130,595
- Deferred charges and accrued income +€87,076
up €87,076 (+128.8%), from €67,621 to €154,697
- Tangible fixed assets +€86,128
up €86,128 (+10.3%), from €839,076 to €925,204
of which Leasing and similar rights: +€182,434
- Cash -€54,071
down €54,071 (-43.5%), from €124,261 to €70,190
mainly Investment in fixed assets (net) (-€298,186) and Contributions, distributions and other (-€202,500)
- Reserves +€289,963
up €289,963 (+30.2%), from €958,874 to €1.2m
of which Distributable reserves: +€289,963
- Debts after one year -€169,224
down €169,224 (-28.4%), from €596,708 to €427,484
- Trade debts +€139,138
up €139,138 (+46.1%), from €301,714 to €440,852
- Other debts +€68,889
up €68,889 (+5.9%), from €1.2m to €1.2m
- Short-term financial debts -€50,000
down €50,000 (-9.1%), from €550,000 to €500,000
- Gross operating margin -€63,952
down €63,952 (-4.8%), from €1.3m to €1.3m
- Depreciation +€17,484
up €17,484 (+8.8%), from €199,730 to €217,214
- Financial charges -€16,999
down €16,999 (-18.2%), from €93,626 to €76,627
- Taxes -€15,965
down €15,965 (-13.9%), from €114,698 to €98,733
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 | €4,096,455 | €4,372,134 | +€275,680 | +6.7% |
| Fixed assets | 21/28 | €2,439,727 | €2,520,699 | +€80,972 | +3.3% |
| Intangible fixed assets | 21 | €13,978 | €8,823 | -€5,155 | -36.9% |
| Tangible fixed assets | 22/27 | €839,076 | €925,204 | +€86,128 | +10.3% |
| Land and buildings | 22 | €407,300 | €466,286 | +€58,986 | +14.5% |
| Plant, machinery and equipment | 23 | €102,363 | €89,072 | -€13,291 | -13.0% |
| Furniture and vehicles | 24 | €329,413 | €187,412 | -€142,002 | -43.1% |
| Leasing and similar rights | 25 | - | €182,434 | +€182,434 | |
| Financial fixed assets | 28 | €1,586,673 | €1,586,673 | = | 0.0% |
| Current assets | 29/58 | €1,656,728 | €1,851,435 | +€194,707 | +11.8% |
| Stocks and contracts in progress | 3 | €1,117,686 | €1,120,172 | +€2,486 | +0.2% |
| Stocks | 30/36 | €1,027,860 | €1,037,912 | +€10,052 | +1.0% |
| Contracts in progress | 37 | €89,826 | €82,260 | -€7,566 | -8.4% |
| Amounts receivable within one year | 40/41 | €347,160 | €506,376 | +€159,216 | +45.9% |
| Trade receivables | 40 | €344,927 | €475,522 | +€130,595 | +37.9% |
| Other amounts receivable | 41 | €2,232 | €30,854 | +€28,621 | +1282.1% |
| Cash at bank and in hand | 54/58 | €124,261 | €70,190 | -€54,071 | -43.5% |
| Deferred charges and accrued income | 490/1 | €67,621 | €154,697 | +€87,076 | +128.8% |
| Total equity and liabilities | 10/49 | €4,096,455 | €4,372,134 | +€275,680 | +6.7% |
| Equity | 10/15 | €977,424 | €1,267,387 | +€289,963 | +29.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €958,874 | €1,248,837 | +€289,963 | +30.2% |
| Tax-exempt reserves | 132 | €76,250 | €76,250 | = | 0.0% |
| Distributable reserves | 133 | €882,624 | €1,172,587 | +€289,963 | +32.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,119,031 | €3,104,747 | -€14,284 | -0.5% |
| Amounts payable after more than one year | 17 | €596,708 | €427,484 | -€169,224 | -28.4% |
| Financial debts | 170/4 | €596,708 | €427,484 | -€169,224 | -28.4% |
| Amounts payable within one year | 42/48 | €2,491,341 | €2,655,066 | +€163,725 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €373,275 | €349,126 | -€24,149 | -6.5% |
| Financial debts | 43 | €550,000 | €500,000 | -€50,000 | -9.1% |
| Credit institutions | 430/8 | €550,000 | €500,000 | -€50,000 | -9.1% |
| Trade debts | 44 | €301,714 | €440,852 | +€139,138 | +46.1% |
| Suppliers | 440/4 | €301,714 | €440,852 | +€139,138 | +46.1% |
| Taxes, remuneration and social security | 45 | €102,408 | €132,256 | +€29,848 | +29.1% |
| Taxes | 450/3 | €63,147 | €95,385 | +€32,239 | +51.1% |
| Remuneration and social security | 454/9 | €39,262 | €36,871 | -€2,391 | -6.1% |
| Other amounts payable | 47/48 | €1,163,944 | €1,232,832 | +€68,889 | +5.9% |
| Accrued charges and deferred income | 492/3 | €30,982 | €22,197 | -€8,785 | -28.4% |
| Non-recurring operating income | 76A | - | €3,150 | +€3,150 | |
| Remuneration, social security and pensions | 62 | €346,513 | €345,131 | -€1,382 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,730 | €217,214 | +€17,484 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,258 | €7,575 | +€3,317 | +77.9% |
| Other operating charges | 640/8 | €31,285 | €32,572 | +€1,287 | +4.1% |
| Gross operating margin | 9900 | €1,326,608 | €1,262,656 | -€63,952 | -4.8% |
| Operating profit (loss) | 9901 | €744,822 | €660,163 | -€84,659 | -11.4% |
| Financial income | 75/76B | €10,644 | €7,660 | -€2,984 | -28.0% |
| Recurring financial income | 75 | €10,644 | €7,660 | -€2,984 | -28.0% |
| Financial charges | 65/66B | €93,626 | €76,627 | -€16,999 | -18.2% |
| Recurring financial charges | 65 | €93,626 | €76,627 | -€16,999 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €661,839 | €591,196 | -€70,643 | -10.7% |
| Income taxes | 67/77 | €114,698 | €98,733 | -€15,965 | -13.9% |
| Profit (loss) for the period | 9904 | €547,142 | €492,463 | -€54,679 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €547,142 | €492,463 | -€54,679 | -10.0% |
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 7 October 2026 via checked.be.