BRAEMS: 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.
BRAEMS
Largest movements
- Receivables within one year -€6,772
down €6,772 (-9.1%), from €74,049 to €67,277
- Cash -€3,050
down €3,050 (-35.3%), from €8,650 to €5,600
mainly Net result for the year (-€11,150)
- Profit (loss) carried forward -€11,150
down €11,150 (-6.0%), from €184,319 to €173,170
- Taxes +€10,736
up €10,736 (+514.0%), from €2,089 to €12,825
- Financial charges +€2,449
up €2,449 (+1406.5%), from €174 to €2,623
- Gross operating margin -€1,458
down €1,458 (-21.0%), from €6,934 to €5,476
- Other operating charges -€187
down €187 (-20.2%), from €925 to €737
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 | €230,586 | €220,323 | -€10,262 | -4.5% |
| Fixed assets | 21/28 | €1,028 | €587 | -€440 | -42.9% |
| Tangible fixed assets | 22/27 | €1,028 | €587 | -€440 | -42.9% |
| Land and buildings | 22 | €1,028 | €587 | -€440 | -42.9% |
| Current assets | 29/58 | €229,558 | €219,736 | -€9,822 | -4.3% |
| Amounts receivable within one year | 40/41 | €74,049 | €67,277 | -€6,772 | -9.1% |
| Other amounts receivable | 41 | €74,049 | €67,277 | -€6,772 | -9.1% |
| Current investments | 50/53 | €146,542 | €146,542 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,650 | €5,600 | -€3,050 | -35.3% |
| Deferred charges and accrued income | 490/1 | €317 | €317 | = | 0.0% |
| Total equity and liabilities | 10/49 | €230,586 | €220,323 | -€10,262 | -4.5% |
| Equity | 10/15 | €228,110 | €216,960 | -€11,150 | -4.9% |
| Contributions | 10/11 | €42,142 | €42,142 | = | 0.0% |
| Capital | 10 | €42,142 | €42,142 | = | 0.0% |
| Issued capital | 100 | €42,142 | €42,142 | = | 0.0% |
| Reserves | 13 | €1,649 | €1,649 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,649 | €1,649 | = | 0.0% |
| Legal reserve | 130 | €1,649 | €1,649 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,319 | €173,170 | -€11,150 | -6.0% |
| Amounts payable | 17/49 | €2,475 | €3,363 | +€888 | +35.9% |
| Amounts payable within one year | 42/48 | €2,475 | €3,363 | +€888 | +35.9% |
| Trade debts | 44 | - | €363 | +€363 | |
| Suppliers | 440/4 | - | €363 | +€363 | |
| Taxes, remuneration and social security | 45 | €2,475 | €3,000 | +€525 | +21.2% |
| Taxes | 450/3 | €2,475 | €3,000 | +€525 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €440 | €440 | = | 0.0% |
| Other operating charges | 640/8 | €925 | €737 | -€187 | -20.2% |
| Gross operating margin | 9900 | €6,934 | €5,476 | -€1,458 | -21.0% |
| Operating profit (loss) | 9901 | €5,569 | €4,298 | -€1,271 | -22.8% |
| Financial charges | 65/66B | €174 | €2,623 | +€2,449 | +1406.5% |
| Recurring financial charges | 65 | €174 | €2,623 | +€2,449 | +1406.5% |
| Profit (loss) for the period before taxes | 9903 | €5,395 | €1,675 | -€3,720 | -69.0% |
| Income taxes | 67/77 | €2,089 | €12,825 | +€10,736 | +514.0% |
| Profit (loss) for the period | 9904 | €3,307 | -€11,150 | -€14,457 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,307 | -€11,150 | -€14,457 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.