BRAET & CO: 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.
BRAET & CO
Largest movements
- Intangible fixed assets -€116,889
down €116,889 (-9.7%), from €1.2m to €1.1m
- Receivables within one year +€62,364
up €62,364 (+181%), from €34,411 to €96,775
- Cash -€39,935
down €39,935 (-92.8%), from €43,012 to €3,077
mainly Debts after one year (-€187,319) and Current portion of long-term debt (-€80,636)
- Deferred charges and accrued income -€37,971
down €37,971 (-85.7%), from €44,305 to €6,334
- Debts after one year -€187,319
down €187,319 (-26.0%), from €720,449 to €533,130
- Reserves +€83,294
up €83,294 (+15.5%), from €538,750 to €622,044
of which Distributable reserves: +€92,859
- Current portion of long-term debt -€80,636
down €80,636 (-34.4%), from €234,137 to €153,501
- Other debts +€60,846
up €60,846 (+35.4%), from €171,676 to €232,523
- Tax, wage and social debts -€19,421
down €19,421 (-28.7%), from €67,713 to €48,292
of which Remuneration and social security: -€15,723
- Gross operating margin +€70,526
up €70,526 (+18.2%), from €388,101 to €458,627
- Staff costs +€27,446
up €27,446 (+24.9%), from €110,147 to €137,592
- Taxes +€10,895
up €10,895 (+26.6%), from €40,967 to €51,862
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 | €1,904,651 | €1,754,110 | -€150,541 | -7.9% |
| Fixed assets | 21/28 | €1,782,923 | €1,647,925 | -€134,998 | -7.6% |
| Intangible fixed assets | 21 | €1,210,017 | €1,093,129 | -€116,889 | -9.7% |
| Tangible fixed assets | 22/27 | €572,724 | €554,614 | -€18,110 | -3.2% |
| Land and buildings | 22 | €521,541 | €496,130 | -€25,411 | -4.9% |
| Furniture and vehicles | 24 | €43,903 | €45,565 | +€1,661 | +3.8% |
| Other tangible fixed assets | 26 | €7,279 | €12,918 | +€5,639 | +77.5% |
| Financial fixed assets | 28 | €182 | €182 | = | 0.0% |
| Current assets | 29/58 | €121,728 | €106,185 | -€15,543 | -12.8% |
| Amounts receivable within one year | 40/41 | €34,411 | €96,775 | +€62,364 | +181% |
| Trade receivables | 40 | €34,411 | €96,775 | +€62,364 | +181% |
| Cash at bank and in hand | 54/58 | €43,012 | €3,077 | -€39,935 | -92.8% |
| Deferred charges and accrued income | 490/1 | €44,305 | €6,334 | -€37,971 | -85.7% |
| Total equity and liabilities | 10/49 | €1,904,651 | €1,754,110 | -€150,541 | -7.9% |
| Equity | 10/15 | €663,750 | €747,044 | +€83,294 | +12.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €538,750 | €622,044 | +€83,294 | +15.5% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €123,566 | €114,002 | -€9,564 | -7.7% |
| Distributable reserves | 133 | €402,684 | €495,542 | +€92,859 | +23.1% |
| Provisions and deferred taxes | 16 | €37,263 | €32,338 | -€4,925 | -13.2% |
| Deferred taxes | 168 | €37,263 | €32,338 | -€4,925 | -13.2% |
| Amounts payable | 17/49 | €1,203,638 | €974,727 | -€228,911 | -19.0% |
| Amounts payable after more than one year | 17 | €720,449 | €533,130 | -€187,319 | -26.0% |
| Financial debts | 170/4 | €720,449 | €533,130 | -€187,319 | -26.0% |
| Amounts payable within one year | 42/48 | €482,171 | €441,117 | -€41,054 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €234,137 | €153,501 | -€80,636 | -34.4% |
| Trade debts | 44 | €8,645 | €6,802 | -€1,843 | -21.3% |
| Suppliers | 440/4 | €8,645 | €6,802 | -€1,843 | -21.3% |
| Taxes, remuneration and social security | 45 | €67,713 | €48,292 | -€19,421 | -28.7% |
| Taxes | 450/3 | €34,870 | €31,173 | -€3,697 | -10.6% |
| Remuneration and social security | 454/9 | €32,843 | €17,119 | -€15,723 | -47.9% |
| Other amounts payable | 47/48 | €171,676 | €232,523 | +€60,846 | +35.4% |
| Accrued charges and deferred income | 492/3 | €1,018 | €480 | -€538 | -52.8% |
| Non-recurring operating income | 76A | - | €518 | +€518 | |
| Remuneration, social security and pensions | 62 | €110,147 | €137,592 | +€27,446 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,490 | €159,604 | -€887 | -0.6% |
| Other operating charges | 640/8 | €9,367 | €7,096 | -€2,272 | -24.3% |
| Non-recurring operating charges | 66A | - | €5,932 | +€5,932 | |
| Gross operating margin | 9900 | €388,101 | €458,627 | +€70,526 | +18.2% |
| Operating profit (loss) | 9901 | €108,097 | €148,404 | +€40,307 | +37.3% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €16,946 | €18,173 | +€1,227 | +7.2% |
| Recurring financial charges | 65 | €16,946 | €18,173 | +€1,227 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €91,153 | €130,231 | +€39,078 | +42.9% |
| Transfer from deferred taxes | 780 | €4,925 | €4,925 | = | 0.0% |
| Income taxes | 67/77 | €40,967 | €51,862 | +€10,895 | +26.6% |
| Profit (loss) for the period | 9904 | €55,111 | €83,294 | +€28,183 | +51.1% |
| Transfer from tax-exempt reserves | 789 | €9,564 | €9,564 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,676 | €92,859 | +€28,183 | +43.6% |
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 14 October 2026 via checked.be.