BRAEM: 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.
What changed
BRAEM
NACE 47.812, Retail trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €94,556+€1.4m
Equity
€26.3m
2024 · €25.9m+€379,556
Cash
€1.6m
2024 · €487,666+€1.1m
Balance sheet total
€45.6m
2024 · €46.3m-€612,565
Largest movements
Assets
- Receivables within one year -€1.6m
down €1.6m (-10.7%), from €14.9m to €13.3m
of which Trade receivables: -€1.2m
- Cash +€1.1m
up €1.1m (+218.1%), from €487,666 to €1.6m
mainly Other debts (+€1.7m) and Receivables within one year (+€1.6m)
- Stocks and contracts +€997,435
up €997,435 (+4.0%), from €24.7m to €25.7m
of which Stocks: +€920,645
- Tangible fixed assets -€640,526
down €640,526 (-12.8%), from €5.0m to €4.4m
Equity and liabilities
- Short-term financial debts -€2.8m
down €2.8m (-45.5%), from €6.1m to €3.3m
of which Other loans: -€6.1m
- Other debts +€1.7m
up €1.7m (+54.4%), from €3.1m to €4.8m
- Trade debts +€490,075
up €490,075 (+7.3%), from €6.7m to €7.2m
Income statement
- Turnover +€2.6m
up €2.6m (+3.0%), from €85.8m to €88.4m
- Staff costs +€1.2m
up €1.2m (+6.4%), from €18.0m to €19.2m
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.
Result 2024
€94,556
Turnover
+€2.6m
Other operating income
+€609,807
Goods and materials
-€156,768
Services and other goods
-€780,297
Staff costs
-€1.2m
Depreciation
-€78,603
Write-downs
-€271,518
Other operating charges
-€4,527
Other operating items
+€536,157
Financial income
-€48,640
Financial charges
+€246,173
Taxes
-€90,554
Result 2025
€1.5m
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.
From operations
+€5.5m
Investment
-€456,598
Financing
-€4.0m
Cash 2024
€487,666
From operations (derived)
+€5.5m
Net result for the year
+€1.5m
Depreciation
+€1.1m
Receivables after one year
+€396,874
Stocks and contracts
-€997,435
Receivables within one year
+€1.6m
Deferred charges and accrued income
+€16,755
Trade debts
+€490,075
Tax, wage and social debts
-€355,147
Other debts
+€1.7m
Accrued charges and deferred income
+€1,910
Investment (derived)
-€456,598
Investment in fixed assets (net)
-€456,598
Financing
-€4.0m
Debts after one year
-€43,625
Current portion of long-term debt
-€35,340
Short-term financial debts
-€2.8m
Contributions, distributions and other
-€1.1m
Cash 2025
€1.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €46,255,637 | €45,643,071 | -€612,565 | -1.3% |
| Fixed assets | 21/28 | €5,042,532 | €4,378,150 | -€664,382 | -13.2% |
| Intangible fixed assets | 21 | €22,949 | - | -€22,949 | |
| Tangible fixed assets | 22/27 | €5,006,455 | €4,365,930 | -€640,526 | -12.8% |
| Land and buildings | 22 | €2,700,348 | €2,409,264 | -€291,084 | -10.8% |
| Plant, machinery and equipment | 23 | €737,381 | €559,406 | -€177,974 | -24.1% |
| Furniture and vehicles | 24 | €1,277,805 | €1,238,610 | -€39,195 | -3.1% |
| Other tangible fixed assets | 26 | €290,921 | €158,649 | -€132,272 | -45.5% |
| Financial fixed assets | 28 | €13,128 | €12,220 | -€908 | -6.9% |
| Other financial fixed assets | 284/8 | €13,128 | €12,220 | -€908 | -6.9% |
| Amounts receivable and cash guarantees | 285/8 | €13,128 | €12,220 | -€908 | -6.9% |
| Current assets | 29/58 | €41,213,105 | €41,264,922 | +€51,816 | +0.1% |
| Amounts receivable after more than one year | 29 | €493,049 | €96,174 | -€396,874 | -80.5% |
| Other amounts receivable | 291 | €493,049 | €96,174 | -€396,874 | -80.5% |
| Stocks and contracts in progress | 3 | €24,726,721 | €25,724,156 | +€997,435 | +4.0% |
| Stocks | 30/36 | €23,729,164 | €24,649,809 | +€920,645 | +3.9% |
| Goods purchased for resale | 34 | €23,729,164 | €24,649,809 | +€920,645 | +3.9% |
| Contracts in progress | 37 | €997,557 | €1,074,347 | +€76,790 | +7.7% |
| Amounts receivable within one year | 40/41 | €14,893,439 | €13,297,780 | -€1.6m | -10.7% |
| Trade receivables | 40 | €12,855,768 | €11,626,076 | -€1.2m | -9.6% |
| Other amounts receivable | 41 | €2,037,671 | €1,671,703 | -€365,967 | -18.0% |
| Cash at bank and in hand | 54/58 | €487,666 | €1,551,336 | +€1.1m | +218.1% |
| Deferred charges and accrued income | 490/1 | €612,231 | €595,476 | -€16,755 | -2.7% |
| Total equity and liabilities | 10/49 | €46,255,637 | €45,643,071 | -€612,565 | -1.3% |
| Equity | 10/15 | €25,916,572 | €26,296,128 | +€379,556 | +1.5% |
| Contributions | 10/11 | €1,138,029 | €1,138,029 | = | 0.0% |
| Capital | 10 | €1,138,029 | €1,138,029 | = | 0.0% |
| Issued capital | 100 | €1,138,029 | €1,138,029 | = | 0.0% |
| Reserves | 13 | €24,764,897 | €25,144,453 | +€379,556 | +1.5% |
| Non-distributable reserves | 130/1 | €113,803 | €113,803 | = | 0.0% |
| Legal reserve | 130 | €113,803 | €113,803 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,294,919 | €2,642,369 | -€652,550 | -19.8% |
| Distributable reserves | 133 | €21,356,175 | €22,388,281 | +€1.0m | +4.8% |
| Investment grants | 15 | €13,646 | €13,646 | = | 0.0% |
| Provisions and deferred taxes | 16 | €181,531 | €181,531 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €181,531 | €181,531 | = | 0.0% |
| Environmental obligations | 163 | €181,531 | €181,531 | = | 0.0% |
| Amounts payable | 17/49 | €20,157,534 | €19,165,412 | -€992,122 | -4.9% |
| Amounts payable after more than one year | 17 | €300,000 | €256,375 | -€43,625 | -14.5% |
| Financial debts | 170/4 | €300,000 | €256,375 | -€43,625 | -14.5% |
| Credit institutions | 173 | €300,000 | €256,375 | -€43,625 | -14.5% |
| Amounts payable within one year | 42/48 | €19,754,076 | €18,803,669 | -€950,407 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €366,840 | €331,500 | -€35,340 | -9.6% |
| Financial debts | 43 | €6,060,833 | €3,305,521 | -€2.8m | -45.5% |
| Credit institutions | 430/8 | - | €3,305,521 | +€3.3m | |
| Other loans | 439 | €6,060,833 | - | -€6.1m | |
| Trade debts | 44 | €6,674,722 | €7,164,797 | +€490,075 | +7.3% |
| Suppliers | 440/4 | €6,674,722 | €7,164,797 | +€490,075 | +7.3% |
| Advances received on contracts in progress | 46 | €150 | €150 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,516,011 | €3,160,864 | -€355,147 | -10.1% |
| Taxes | 450/3 | €580,360 | €189,423 | -€390,937 | -67.4% |
| Remuneration and social security | 454/9 | €2,935,651 | €2,971,441 | +€35,790 | +1.2% |
| Other amounts payable | 47/48 | €3,135,521 | €4,840,837 | +€1.7m | +54.4% |
| Accrued charges and deferred income | 492/3 | €103,457 | €105,367 | +€1,910 | +1.8% |
| Operating income | 70/76A | €91,166,556 | €94,907,499 | +€3.7m | +4.1% |
| Turnover | 70 | €85,767,409 | €88,368,145 | +€2.6m | +3.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€492,019 | €76,790 | +€568,809 | |
| Other operating income | 74 | €5,819,746 | €6,429,553 | +€609,807 | +10.5% |
| Non-recurring operating income | 76A | €71,420 | €33,011 | -€38,410 | -53.8% |
| Operating charges | 60/66A | €90,467,846 | €92,907,720 | +€2.4m | +2.7% |
| Goods for resale, raw materials and consumables | 60 | €56,724,997 | €56,881,765 | +€156,768 | +0.3% |
| Purchases | 600/8 | €53,187,244 | €57,802,410 | +€4.6m | +8.7% |
| Change in stocks: decrease (increase) | 609 | €3,537,753 | -€920,645 | -€4.5m | |
| Services and other goods | 61 | €14,605,708 | €15,386,005 | +€780,297 | +5.3% |
| Remuneration, social security and pensions | 62 | €18,011,668 | €19,165,587 | +€1.2m | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,042,377 | €1,120,980 | +€78,603 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€209,425 | €62,093 | +€271,518 | |
| Other operating charges | 640/8 | €281,154 | €285,681 | +€4,527 | +1.6% |
| Non-recurring operating charges | 66A | €11,367 | €5,609 | -€5,758 | -50.7% |
| Operating profit (loss) | 9901 | €698,710 | €1,999,779 | +€1.3m | +186.2% |
| Financial income | 75/76B | €339,486 | €290,846 | -€48,640 | -14.3% |
| Recurring financial income | 75 | €339,486 | €290,846 | -€48,640 | -14.3% |
| Income from current assets | 751 | €154,821 | €93,273 | -€61,548 | -39.8% |
| Other financial income | 752/9 | €184,665 | €197,573 | +€12,908 | +7.0% |
| Financial charges | 65/66B | €685,117 | €438,944 | -€246,173 | -35.9% |
| Recurring financial charges | 65 | €685,117 | €438,944 | -€246,173 | -35.9% |
| Debt charges | 650 | €678,240 | €397,845 | -€280,395 | -41.3% |
| Other financial charges | 652/9 | €6,877 | €41,099 | +€34,223 | +497.7% |
| Profit (loss) for the period before taxes | 9903 | €353,079 | €1,851,681 | +€1.5m | +424.4% |
| Income taxes | 67/77 | €258,523 | €349,077 | +€90,554 | +35.0% |
| Taxes | 670/3 | €368,948 | €357,261 | -€11,687 | -3.2% |
| Tax adjustments and reversals of tax provisions | 77 | €110,425 | €8,185 | -€102,241 | -92.6% |
| Profit (loss) for the period | 9904 | €94,556 | €1,502,604 | +€1.4m | +1489.1% |
| Transfer from tax-exempt reserves | 789 | €842,000 | €652,550 | -€189,450 | -22.5% |
| Transfer to tax-exempt reserves | 689 | €421,000 | - | -€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €515,556 | €2,155,154 | +€1.6m | +318.0% |
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 10 October 2026 via checked.be.