BRAIN STAR: 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.
BRAIN STAR
Largest movements
- Receivables within one year +€61,158
up €61,158 (+472%), from €12,948 to €74,106
of which Other amounts receivable: +€51,839
- Cash -€44,492
down €44,492 (-38.2%), from €116,519 to €72,027
mainly Receivables within one year (-€61,158) and Debts after one year (-€24,330)
- Tangible fixed assets -€32,451
down €32,451 (-25.3%), from €128,313 to €95,862
of which Land and buildings: -€24,347
- Current investments +€6,000
up €6,000 (+59.4%), from €10,100 to €16,100
- Debts after one year -€24,330
down €24,330 (-15.9%), from €153,257 to €128,927
- Other debts -€12,527
down €12,527 (-93.0%), from €13,474 to €947
- Current portion of long-term debt +€12,316
new in 2025: €12,316
- Reserves +€9,493
up €9,493 (+19.4%), from €49,023 to €58,516
of which Distributable reserves: +€9,493
- Trade debts +€6,756
up €6,756 (+1,330%), from €508 to €7,264
- Depreciation -€4,587
down €4,587 (-23.4%), from €19,622 to €15,035
- Gross operating margin +€3,861
up €3,861 (+10.1%), from €38,296 to €42,157
- Taxes +€3,497
up €3,497 (+61.5%), from €5,690 to €9,187
- Other operating charges -€731
down €731 (-18.5%), from €3,954 to €3,223
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 | €267,880 | €258,095 | -€9,785 | -3.7% |
| Fixed assets | 21/28 | €128,313 | €95,862 | -€32,451 | -25.3% |
| Tangible fixed assets | 22/27 | €128,313 | €95,862 | -€32,451 | -25.3% |
| Land and buildings | 22 | €104,020 | €79,673 | -€24,347 | -23.4% |
| Plant, machinery and equipment | 23 | €3,395 | €2,129 | -€1,266 | -37.3% |
| Leasing and similar rights | 25 | €15,804 | €10,536 | -€5,268 | -33.3% |
| Other tangible fixed assets | 26 | €5,094 | €3,524 | -€1,570 | -30.8% |
| Current assets | 29/58 | €139,567 | €162,233 | +€22,666 | +16.2% |
| Amounts receivable within one year | 40/41 | €12,948 | €74,106 | +€61,158 | +472% |
| Trade receivables | 40 | €11,448 | €20,767 | +€9,319 | +81.4% |
| Other amounts receivable | 41 | €1,500 | €53,339 | +€51,839 | +3,456% |
| Current investments | 50/53 | €10,100 | €16,100 | +€6,000 | +59.4% |
| Cash at bank and in hand | 54/58 | €116,519 | €72,027 | -€44,492 | -38.2% |
| Total equity and liabilities | 10/49 | €267,880 | €258,095 | -€9,785 | -3.7% |
| Equity | 10/15 | €94,447 | €103,940 | +€9,493 | +10.1% |
| Contributions | 10/11 | €10,288 | €10,288 | = | 0.0% |
| Reserves | 13 | €49,023 | €58,516 | +€9,493 | +19.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,693 | €26,693 | = | 0.0% |
| Distributable reserves | 133 | €20,471 | €29,964 | +€9,493 | +46.4% |
| Profit (loss) carried forward | 14 | €35,136 | €35,136 | = | 0.0% |
| Amounts payable | 17/49 | €173,433 | €154,155 | -€19,278 | -11.1% |
| Amounts payable after more than one year | 17 | €153,257 | €128,927 | -€24,330 | -15.9% |
| Financial debts | 170/4 | €153,257 | €128,927 | -€24,330 | -15.9% |
| Amounts payable within one year | 42/48 | €20,176 | €25,228 | +€5,052 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | - | €12,316 | +€12,316 | |
| Trade debts | 44 | €508 | €7,264 | +€6,756 | +1,330% |
| Suppliers | 440/4 | €508 | €7,264 | +€6,756 | +1,330% |
| Taxes, remuneration and social security | 45 | €6,194 | €4,701 | -€1,493 | -24.1% |
| Taxes | 450/3 | €6,194 | €4,701 | -€1,493 | -24.1% |
| Other amounts payable | 47/48 | €13,474 | €947 | -€12,527 | -93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,622 | €15,035 | -€4,587 | -23.4% |
| Other operating charges | 640/8 | €3,954 | €3,223 | -€731 | -18.5% |
| Gross operating margin | 9900 | €38,296 | €42,157 | +€3,861 | +10.1% |
| Operating profit (loss) | 9901 | €14,720 | €23,899 | +€9,179 | +62.4% |
| Financial income | 75/76B | €191 | €67 | -€124 | -64.9% |
| Recurring financial income | 75 | €191 | €67 | -€124 | -64.9% |
| Financial charges | 65/66B | €5,151 | €5,286 | +€135 | +2.6% |
| Recurring financial charges | 65 | €5,151 | €5,286 | +€135 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €9,760 | €18,680 | +€8,920 | +91.4% |
| Income taxes | 67/77 | €5,690 | €9,187 | +€3,497 | +61.5% |
| Profit (loss) for the period | 9904 | €4,070 | €9,493 | +€5,423 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €4,070 | €9,493 | +€5,423 | +133% |
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 13 October 2026 via checked.be.