Braem Benedikt: what changed
Braem Benedikt
Largest movements
- Receivables after one year +€130,000
up €130,000 (+130%), from €100,000 to €230,000
- Receivables within one year -€76,842
down €76,842 (-39.8%), from €193,231 to €116,389
of which Trade receivables: -€72,063
- Cash +€75,983
up €75,983 (+57.2%), from €132,854 to €208,837
mainly Other debts (+€148,513) and Net result for the year (+€91,604)
- Tangible fixed assets -€66,230
down €66,230 (-22.1%), from €299,833 to €233,602
- Other debts +€148,513
up €148,513 (+1,551%), from €9,573 to €158,086
- Reserves -€50,798
down €50,798 (-17.0%), from €299,332 to €248,535
of which Distributable reserves: -€71,848
- Debts after one year -€32,553
down €32,553 (-11.0%), from €295,693 to €263,141
of which Financial debts: -€20,013
- Tax, wage and social debts -€12,750
down €12,750 (-55.9%), from €22,818 to €10,068
- Taxes +€5,930
up €5,930 (+16.5%), from €35,970 to €41,900
- Financial income +€5,604
up €5,604 (+558%), from €1,003 to €6,607
- Depreciation -€4,628
down €4,628 (-6.5%), from €70,858 to €66,230
- Financial charges +€2,628
up €2,628 (+16.9%), from €15,594 to €18,222
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €729,491 | €790,449 | +€60,958 | +8.4% |
| Fixed assets | 21/28 | €299,833 | €233,602 | -€66,230 | -22.1% |
| Tangible fixed assets | 22/27 | €299,833 | €233,602 | -€66,230 | -22.1% |
| Land and buildings | 22 | €204,241 | €180,559 | -€23,681 | -11.6% |
| Plant, machinery and equipment | 23 | €37,024 | €23,882 | -€13,142 | -35.5% |
| Furniture and vehicles | 24 | €2,329 | €1,358 | -€972 | -41.7% |
| Leasing and similar rights | 25 | €56,239 | €27,804 | -€28,436 | -50.6% |
| Current assets | 29/58 | €429,658 | €556,846 | +€127,188 | +29.6% |
| Amounts receivable after more than one year | 29 | €100,000 | €230,000 | +€130,000 | +130% |
| Other amounts receivable | 291 | €100,000 | €230,000 | +€130,000 | +130% |
| Amounts receivable within one year | 40/41 | €193,231 | €116,389 | -€76,842 | -39.8% |
| Trade receivables | 40 | €187,317 | €115,254 | -€72,063 | -38.5% |
| Other amounts receivable | 41 | €5,914 | €1,135 | -€4,779 | -80.8% |
| Cash at bank and in hand | 54/58 | €132,854 | €208,837 | +€75,983 | +57.2% |
| Deferred charges and accrued income | 490/1 | €3,573 | €1,621 | -€1,952 | -54.6% |
| Total equity and liabilities | 10/49 | €729,491 | €790,449 | +€60,958 | +8.4% |
| Equity | 10/15 | €377,932 | €327,135 | -€50,798 | -13.4% |
| Contributions | 10/11 | €78,600 | €78,600 | = | 0.0% |
| Reserves | 13 | €299,332 | €248,535 | -€50,798 | -17.0% |
| Tax-exempt reserves | 132 | - | €21,050 | +€21,050 | |
| Distributable reserves | 133 | €299,332 | €227,485 | -€71,848 | -24.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €351,558 | €463,314 | +€111,756 | +31.8% |
| Amounts payable after more than one year | 17 | €295,693 | €263,141 | -€32,553 | -11.0% |
| Financial debts | 170/4 | €138,520 | €118,507 | -€20,013 | -14.4% |
| Other amounts payable | 178/9 | €157,173 | €144,633 | -€12,540 | -8.0% |
| Amounts payable within one year | 42/48 | €55,865 | €200,174 | +€144,308 | +258% |
| Current portion of amounts payable after more than one year | 42 | €19,135 | €20,013 | +€878 | +4.6% |
| Trade debts | 44 | €4,339 | €12,006 | +€7,668 | +177% |
| Suppliers | 440/4 | €4,339 | €12,006 | +€7,668 | +177% |
| Taxes, remuneration and social security | 45 | €22,818 | €10,068 | -€12,750 | -55.9% |
| Taxes | 450/3 | €22,818 | €10,068 | -€12,750 | -55.9% |
| Other amounts payable | 47/48 | €9,573 | €158,086 | +€148,513 | +1,551% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,858 | €66,230 | -€4,628 | -6.5% |
| Other operating charges | 640/8 | €2,662 | €1,903 | -€759 | -28.5% |
| Gross operating margin | 9900 | €213,925 | €213,253 | -€672 | -0.3% |
| Operating profit (loss) | 9901 | €140,405 | €145,119 | +€4,715 | +3.4% |
| Financial income | 75/76B | €1,003 | €6,607 | +€5,604 | +558% |
| Recurring financial income | 75 | €1,003 | €6,607 | +€5,604 | +558% |
| Financial charges | 65/66B | €15,594 | €18,222 | +€2,628 | +16.9% |
| Recurring financial charges | 65 | €15,594 | €18,222 | +€2,628 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €125,814 | €133,504 | +€7,691 | +6.1% |
| Income taxes | 67/77 | €35,970 | €41,900 | +€5,930 | +16.5% |
| Profit (loss) for the period | 9904 | €89,844 | €91,604 | +€1,760 | +2.0% |
| Transfer to tax-exempt reserves | 689 | - | €21,050 | +€21,050 | |
| Profit (loss) for the period to be appropriated | 9905 | €89,844 | €70,554 | -€19,290 | -21.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.