BRAIN E-LOG: 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.
BRAIN E-LOG
Largest movements
- Receivables within one year +€513,439
up €513,439 (+35.5%), from €1.4m to €2.0m
of which Trade receivables: +€313,721
- Cash -€139,300
down €139,300 (-27.1%), from €514,452 to €375,152
mainly Receivables within one year (-€513,439) and Contributions, distributions and other (-€258,812)
- Tangible fixed assets -€139,050
down €139,050 (-22.2%), from €627,319 to €488,269
of which Plant, machinery and equipment: -€101,186
- Deferred charges and accrued income +€46,979
up €46,979 (+397.0%), from €11,835 to €58,814
- Other debts +€300,000
new in 2025: €300,000
- Trade debts +€75,067
up €75,067 (+8.6%), from €869,498 to €944,565
- Tax, wage and social debts -€52,855
down €52,855 (-15.7%), from €335,745 to €282,891
of which Taxes: -€46,400
- Debts after one year -€50,570
down €50,570 (-25.3%), from €199,728 to €149,158
- Investment grants +€41,188
new in 2025: €41,188
- Gross operating margin +€308,211
up €308,211 (+17.0%), from €1.8m to €2.1m
- Staff costs +€95,343
up €95,343 (+6.9%), from €1.4m to €1.5m
- Taxes +€52,200
up €52,200 (+112.6%), from €46,352 to €98,553
- Financial income +€29,357
up €29,357 (+1886.7%), from €1,556 to €30,913
- Depreciation +€27,779
up €27,779 (+16.3%), from €170,559 to €198,338
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 | €2,686,975 | €2,992,583 | +€305,607 | +11.4% |
| Fixed assets | 21/28 | €635,105 | €490,506 | -€144,599 | -22.8% |
| Intangible fixed assets | 21 | €7,691 | €2,142 | -€5,549 | -72.1% |
| Tangible fixed assets | 22/27 | €627,319 | €488,269 | -€139,050 | -22.2% |
| Plant, machinery and equipment | 23 | €495,387 | €394,201 | -€101,186 | -20.4% |
| Furniture and vehicles | 24 | €108,875 | €77,290 | -€31,585 | -29.0% |
| Other tangible fixed assets | 26 | €23,057 | €16,778 | -€6,279 | -27.2% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €2,051,870 | €2,502,076 | +€450,207 | +21.9% |
| Stocks and contracts in progress | 3 | €79,803 | €108,892 | +€29,089 | +36.5% |
| Stocks | 30/36 | €79,803 | €108,892 | +€29,089 | +36.5% |
| Amounts receivable within one year | 40/41 | €1,445,779 | €1,959,219 | +€513,439 | +35.5% |
| Trade receivables | 40 | €1,418,268 | €1,731,989 | +€313,721 | +22.1% |
| Other amounts receivable | 41 | €27,511 | €227,230 | +€199,719 | +726.0% |
| Cash at bank and in hand | 54/58 | €514,452 | €375,152 | -€139,300 | -27.1% |
| Deferred charges and accrued income | 490/1 | €11,835 | €58,814 | +€46,979 | +397.0% |
| Total equity and liabilities | 10/49 | €2,686,975 | €2,992,583 | +€305,607 | +11.4% |
| Equity | 10/15 | €1,191,229 | €1,243,777 | +€52,548 | +4.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €43,960 | €43,960 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,100 | €42,100 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,141,069 | €1,152,429 | +€11,360 | +1.0% |
| Investment grants | 15 | - | €41,188 | +€41,188 | |
| Amounts payable | 17/49 | €1,495,746 | €1,748,805 | +€253,059 | +16.9% |
| Amounts payable after more than one year | 17 | €199,728 | €149,158 | -€50,570 | -25.3% |
| Financial debts | 170/4 | €199,728 | €149,158 | -€50,570 | -25.3% |
| Amounts payable within one year | 42/48 | €1,296,018 | €1,599,647 | +€303,630 | +23.4% |
| Current portion of amounts payable after more than one year | 42 | €90,774 | €72,191 | -€18,583 | -20.5% |
| Trade debts | 44 | €869,498 | €944,565 | +€75,067 | +8.6% |
| Suppliers | 440/4 | €869,498 | €944,565 | +€75,067 | +8.6% |
| Taxes, remuneration and social security | 45 | €335,745 | €282,891 | -€52,855 | -15.7% |
| Taxes | 450/3 | €142,991 | €96,591 | -€46,400 | -32.4% |
| Remuneration and social security | 454/9 | €192,754 | €186,300 | -€6,455 | -3.3% |
| Other amounts payable | 47/48 | - | €300,000 | +€300,000 | |
| Remuneration, social security and pensions | 62 | €1,386,215 | €1,481,557 | +€95,343 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,559 | €198,338 | +€27,779 | +16.3% |
| Other operating charges | 640/8 | €59,956 | €43,017 | -€16,939 | -28.3% |
| Non-recurring operating charges | 66A | €2,556 | - | -€2,556 | |
| Gross operating margin | 9900 | €1,817,395 | €2,125,606 | +€308,211 | +17.0% |
| Operating profit (loss) | 9901 | €198,110 | €402,693 | +€204,583 | +103.3% |
| Financial income | 75/76B | €1,556 | €30,913 | +€29,357 | +1886.7% |
| Recurring financial income | 75 | €1,556 | €30,913 | +€29,357 | +1886.7% |
| Financial charges | 65/66B | €29,550 | €23,693 | -€5,857 | -19.8% |
| Recurring financial charges | 65 | €29,550 | €23,693 | -€5,857 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €170,116 | €409,913 | +€239,797 | +141.0% |
| Income taxes | 67/77 | €46,352 | €98,553 | +€52,200 | +112.6% |
| Profit (loss) for the period | 9904 | €123,763 | €311,360 | +€187,597 | +151.6% |
| Transfer to tax-exempt reserves | 689 | €42,100 | - | -€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €81,663 | €311,360 | +€229,697 | +281.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.