BRAEM RIK: 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.
BRAEM RIK
Largest movements
- Tangible fixed assets +€17,800
up €17,800 (+49.6%), from €35,877 to €53,677
of which Plant, machinery and equipment: +€26,636
- Cash +€8,684
up €8,684 (+30.2%), from €28,722 to €37,407
mainly Debts after one year (+€19,227) and Depreciation (+€13,735)
- Deferred charges and accrued income -€5,556
down €5,556 (-83.3%), from €6,670 to €1,114
- Receivables within one year +€5,107
up €5,107 (+71.1%), from €7,180 to €12,287
of which Trade receivables: +€4,433
- Debts after one year +€19,227
new in 2025: €19,227
- Reserves +€9,141
up €9,141 (+18.4%), from €49,768 to €58,909
- Current portion of long-term debt -€2,627
no longer reported in 2025 (was €2,627)
- Gross operating margin +€5,710
up €5,710 (+21.9%), from €26,039 to €31,748
- Depreciation +€3,030
up €3,030 (+28.3%), from €10,704 to €13,735
- Staff costs -€1,988
down €1,988 (-43.9%), from €4,524 to €2,536
- Taxes +€951
up €951 (+35.9%), from €2,651 to €3,601
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.
Derived cash bridge
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 | €86,639 | €112,334 | +€25,696 | +29.7% |
| Fixed assets | 21/28 | €35,877 | €53,677 | +€17,800 | +49.6% |
| Tangible fixed assets | 22/27 | €35,877 | €53,677 | +€17,800 | +49.6% |
| Plant, machinery and equipment | 23 | €5,331 | €31,967 | +€26,636 | +500% |
| Furniture and vehicles | 24 | €30,546 | €21,710 | -€8,835 | -28.9% |
| Current assets | 29/58 | €50,762 | €58,657 | +€7,895 | +15.6% |
| Stocks and contracts in progress | 3 | €8,190 | €7,850 | -€340 | -4.2% |
| Stocks | 30/36 | €8,190 | €7,850 | -€340 | -4.2% |
| Amounts receivable within one year | 40/41 | €7,180 | €12,287 | +€5,107 | +71.1% |
| Trade receivables | 40 | €4,417 | €8,850 | +€4,433 | +100% |
| Other amounts receivable | 41 | €2,763 | €3,437 | +€674 | +24.4% |
| Cash at bank and in hand | 54/58 | €28,722 | €37,407 | +€8,684 | +30.2% |
| Deferred charges and accrued income | 490/1 | €6,670 | €1,114 | -€5,556 | -83.3% |
| Total equity and liabilities | 10/49 | €86,639 | €112,334 | +€25,696 | +29.7% |
| Equity | 10/15 | €55,968 | €65,109 | +€9,141 | +16.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €49,768 | €58,909 | +€9,141 | +18.4% |
| Distributable reserves | 133 | €49,768 | €58,909 | +€9,141 | +18.4% |
| Amounts payable | 17/49 | €30,671 | €47,226 | +€16,555 | +54.0% |
| Amounts payable after more than one year | 17 | - | €19,227 | +€19,227 | |
| Financial debts | 170/4 | - | €19,227 | +€19,227 | |
| Amounts payable within one year | 42/48 | €30,671 | €27,999 | -€2,672 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €2,627 | - | -€2,627 | |
| Trade debts | 44 | €2,362 | €1,453 | -€909 | -38.5% |
| Suppliers | 440/4 | €2,362 | €1,453 | -€909 | -38.5% |
| Taxes, remuneration and social security | 45 | - | €69 | +€69 | |
| Remuneration and social security | 454/9 | - | €69 | +€69 | |
| Other amounts payable | 47/48 | €25,681 | €26,477 | +€796 | +3.1% |
| Remuneration, social security and pensions | 62 | €4,524 | €2,536 | -€1,988 | -43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,704 | €13,735 | +€3,030 | +28.3% |
| Other operating charges | 640/8 | €2,088 | €2,103 | +€15 | +0.7% |
| Gross operating margin | 9900 | €26,039 | €31,748 | +€5,710 | +21.9% |
| Operating profit (loss) | 9901 | €8,723 | €13,375 | +€4,652 | +53.3% |
| Financial income | 75/76B | €44 | €4 | -€40 | -90.8% |
| Recurring financial income | 75 | €44 | €4 | -€40 | -90.8% |
| Financial charges | 65/66B | €556 | €637 | +€81 | +14.5% |
| Recurring financial charges | 65 | €556 | €637 | +€81 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €8,211 | €12,742 | +€4,531 | +55.2% |
| Income taxes | 67/77 | €2,651 | €3,601 | +€951 | +35.9% |
| Profit (loss) for the period | 9904 | €5,560 | €9,141 | +€3,581 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,560 | €9,141 | +€3,581 | +64.4% |
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 24 October 2026 via checked.be.