Braindeer: 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.
Braindeer
Largest movements
- Tangible fixed assets +€49,895
up €49,895 (+94.7%), from €52,674 to €102,568
of which Furniture and vehicles: +€54,273
- Cash -€49,258
down €49,258 (-43.5%), from €113,314 to €64,056
mainly Contributions, distributions and other (-€170,000) and Investment in fixed assets (net) (-€73,619)
- Reserves -€125,725
down €125,725 (-96.0%), from €130,934 to €5,209
- Other debts +€63,406
up €63,406 (+2571.9%), from €2,465 to €65,871
- Debts after one year +€55,795
new in 2025: €55,795
- Current portion of long-term debt +€3,877
up €3,877 (+37.9%), from €10,229 to €14,106
- Tax, wage and social debts +€2,150
up €2,150 (+11.3%), from €19,018 to €21,168
of which Remuneration and social security: +€2,000
- Gross operating margin +€14,348
up €14,348 (+20.7%), from €69,456 to €83,804
- Depreciation +€7,131
up €7,131 (+43.0%), from €16,593 to €23,724
- Financial charges +€922
up €922 (+217.8%), from €423 to €1,345
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 | €184,469 | €184,525 | +€56 | 0.0% |
| Fixed assets | 21/28 | €52,674 | €102,568 | +€49,895 | +94.7% |
| Tangible fixed assets | 22/27 | €52,674 | €102,568 | +€49,895 | +94.7% |
| Furniture and vehicles | 24 | €14,762 | €69,034 | +€54,273 | +367.7% |
| Other tangible fixed assets | 26 | €37,912 | €33,534 | -€4,378 | -11.5% |
| Current assets | 29/58 | €131,795 | €81,957 | -€49,839 | -37.8% |
| Amounts receivable within one year | 40/41 | €16,316 | €15,976 | -€341 | -2.1% |
| Trade receivables | 40 | €12,763 | €11,923 | -€840 | -6.6% |
| Other amounts receivable | 41 | €3,553 | €4,052 | +€499 | +14.0% |
| Cash at bank and in hand | 54/58 | €113,314 | €64,056 | -€49,258 | -43.5% |
| Deferred charges and accrued income | 490/1 | €2,165 | €1,925 | -€240 | -11.1% |
| Total equity and liabilities | 10/49 | €184,469 | €184,525 | +€56 | 0.0% |
| Equity | 10/15 | €149,534 | €23,809 | -€125,725 | -84.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €130,934 | €5,209 | -€125,725 | -96.0% |
| Distributable reserves | 133 | €130,934 | €5,209 | -€125,725 | -96.0% |
| Amounts payable | 17/49 | €34,935 | €160,716 | +€125,781 | +360.0% |
| Amounts payable after more than one year | 17 | - | €55,795 | +€55,795 | |
| Financial debts | 170/4 | - | €55,795 | +€55,795 | |
| Amounts payable within one year | 42/48 | €34,935 | €104,320 | +€69,386 | +198.6% |
| Current portion of amounts payable after more than one year | 42 | €10,229 | €14,106 | +€3,877 | +37.9% |
| Trade debts | 44 | €3,223 | €3,175 | -€48 | -1.5% |
| Suppliers | 440/4 | €3,223 | €3,175 | -€48 | -1.5% |
| Taxes, remuneration and social security | 45 | €19,018 | €21,168 | +€2,150 | +11.3% |
| Taxes | 450/3 | €15,018 | €15,168 | +€150 | +1.0% |
| Remuneration and social security | 454/9 | €4,000 | €6,000 | +€2,000 | +50.0% |
| Other amounts payable | 47/48 | €2,465 | €65,871 | +€63,406 | +2571.9% |
| Accrued charges and deferred income | 492/3 | - | €600 | +€600 | |
| Non-recurring operating income | 76A | - | €5,115 | +€5,115 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,593 | €23,724 | +€7,131 | +43.0% |
| Other operating charges | 640/8 | €1,516 | €959 | -€557 | -36.7% |
| Gross operating margin | 9900 | €69,456 | €83,804 | +€14,348 | +20.7% |
| Operating profit (loss) | 9901 | €51,347 | €59,121 | +€7,774 | +15.1% |
| Financial charges | 65/66B | €423 | €1,345 | +€922 | +217.8% |
| Recurring financial charges | 65 | €423 | €1,345 | +€922 | +217.8% |
| Profit (loss) for the period before taxes | 9903 | €50,923 | €57,776 | +€6,853 | +13.5% |
| Income taxes | 67/77 | €12,769 | €13,501 | +€732 | +5.7% |
| Profit (loss) for the period | 9904 | €38,155 | €44,275 | +€6,120 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,155 | €44,275 | +€6,120 | +16.0% |
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 11 October 2026 via checked.be.