BRAECKMAN: 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.
BRAECKMAN
Largest movements
- Receivables within one year +€83,285
up €83,285 (+142.1%), from €58,612 to €141,897
of which Trade receivables: +€93,910
- Stocks and contracts -€28,410
down €28,410 (-38.3%), from €74,141 to €45,730
- Cash -€19,883
down €19,883 (-62.1%), from €32,042 to €12,158
mainly Receivables within one year (-€83,285) and Debts after one year (-€6,611)
- Profit (loss) carried forward +€28,690
up €28,690 (+39.5%), from €72,550 to €101,240
- Tax, wage and social debts +€12,263
up €12,263 (+93.2%), from €13,157 to €25,421
of which Taxes: +€19,162
- Debts after one year -€6,611
down €6,611 (-52.3%), from €12,629 to €6,018
- Staff costs -€54,659
down €54,659 (-56.0%), from €97,651 to €42,991
- Gross operating margin -€13,833
down €13,833 (-13.6%), from €101,396 to €87,563
- Depreciation -€7,437
down €7,437 (-92.8%), from €8,013 to €576
- Taxes +€7,154
new in 2025: €7,154
- Financial income -€3,819
down €3,819 (-99.9%), from €3,823 to €4
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 | €185,822 | €220,243 | +€34,421 | +18.5% |
| Fixed assets | 21/28 | €20,731 | €20,154 | -€576 | -2.8% |
| Tangible fixed assets | 22/27 | €20,235 | €19,658 | -€576 | -2.8% |
| Land and buildings | 22 | €20,235 | €19,658 | -€576 | -2.8% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €165,091 | €200,089 | +€34,998 | +21.2% |
| Stocks and contracts in progress | 3 | €74,141 | €45,730 | -€28,410 | -38.3% |
| Stocks | 30/36 | €74,141 | €45,730 | -€28,410 | -38.3% |
| Amounts receivable within one year | 40/41 | €58,612 | €141,897 | +€83,285 | +142.1% |
| Trade receivables | 40 | €46,802 | €140,713 | +€93,910 | +200.7% |
| Other amounts receivable | 41 | €11,809 | €1,184 | -€10,625 | -90.0% |
| Cash at bank and in hand | 54/58 | €32,042 | €12,158 | -€19,883 | -62.1% |
| Deferred charges and accrued income | 490/1 | €297 | €303 | +€6 | +2.2% |
| Total equity and liabilities | 10/49 | €185,822 | €220,243 | +€34,421 | +18.5% |
| Equity | 10/15 | €93,001 | €121,692 | +€28,690 | +30.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,550 | €101,240 | +€28,690 | +39.5% |
| Amounts payable | 17/49 | €92,820 | €98,551 | +€5,731 | +6.2% |
| Amounts payable after more than one year | 17 | €12,629 | €6,018 | -€6,611 | -52.3% |
| Financial debts | 170/4 | €12,629 | €6,018 | -€6,611 | -52.3% |
| Amounts payable within one year | 42/48 | €80,192 | €92,534 | +€12,342 | +15.4% |
| Trade debts | 44 | €15,951 | €16,049 | +€98 | +0.6% |
| Suppliers | 440/4 | €15,951 | €16,049 | +€98 | +0.6% |
| Taxes, remuneration and social security | 45 | €13,157 | €25,421 | +€12,263 | +93.2% |
| Taxes | 450/3 | €1,847 | €21,009 | +€19,162 | +1037.2% |
| Remuneration and social security | 454/9 | €11,310 | €4,411 | -€6,898 | -61.0% |
| Other amounts payable | 47/48 | €51,083 | €51,064 | -€20 | 0.0% |
| Remuneration, social security and pensions | 62 | €97,651 | €42,991 | -€54,659 | -56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,013 | €576 | -€7,437 | -92.8% |
| Other operating charges | 640/8 | €7,291 | €5,464 | -€1,827 | -25.1% |
| Non-recurring operating charges | 66A | - | €174 | +€174 | |
| Gross operating margin | 9900 | €101,396 | €87,563 | -€13,833 | -13.6% |
| Operating profit (loss) | 9901 | -€11,558 | €38,358 | +€49,917 | |
| Financial income | 75/76B | €3,823 | €4 | -€3,819 | -99.9% |
| Recurring financial income | 75 | €3,823 | €4 | -€3,819 | -99.9% |
| Financial charges | 65/66B | €3,509 | €2,517 | -€992 | -28.3% |
| Recurring financial charges | 65 | €3,509 | €2,517 | -€992 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | -€11,245 | €35,845 | +€47,089 | |
| Income taxes | 67/77 | - | €7,154 | +€7,154 | |
| Profit (loss) for the period | 9904 | -€11,245 | €28,690 | +€39,935 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,245 | €28,690 | +€39,935 |
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 29 September 2026 via checked.be.