BRAINWORKS: 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.
BRAINWORKS
Largest movements
- Tangible fixed assets +€174,318
up €174,318 (+45.7%), from €381,122 to €555,439
of which Land and buildings: +€158,376
- Cash -€78,189
down €78,189 (-33.9%), from €230,438 to €152,249
mainly Investment in fixed assets (net) (-€205,291) and Receivables within one year (-€34,580)
- Receivables within one year +€34,580
up €34,580 (+94.4%), from €36,632 to €71,211
of which Trade receivables: +€25,827
- Other debts +€94,995
up €94,995 (+28694.2%), from €331 to €95,326
- Trade debts +€66,389
up €66,389 (+393.9%), from €16,852 to €83,241
- Tax, wage and social debts -€28,086
down €28,086 (-75.8%), from €37,034 to €8,947
- Debts after one year +€13,797
up €13,797 (+5.5%), from €250,505 to €264,303
- Accrued charges and deferred income -€13,797
down €13,797 (-100.0%), from €13,797 to €0
- Gross operating margin -€84,061
down €84,061 (-70.3%), from €119,593 to €35,532
- Financial charges -€19,321
down €19,321 (-97.4%), from €19,835 to €514
- Taxes -€18,994
down €18,994 (-100.0%), from €18,994 to €0
- Financial income -€6,738
down €6,738 (-99.7%), from €6,762 to €24
- Depreciation +€1,243
up €1,243 (+4.2%), from €29,731 to €30,974
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 | €1,190,923 | €1,321,857 | +€130,934 | +11.0% |
| Fixed assets | 21/28 | €381,122 | €555,439 | +€174,318 | +45.7% |
| Tangible fixed assets | 22/27 | €381,122 | €555,439 | +€174,318 | +45.7% |
| Land and buildings | 22 | €354,803 | €513,179 | +€158,376 | +44.6% |
| Plant, machinery and equipment | 23 | €5,557 | €8,995 | +€3,438 | +61.9% |
| Furniture and vehicles | 24 | €20,762 | €17,025 | -€3,736 | -18.0% |
| Assets under construction and advance payments | 27 | - | €16,241 | +€16,241 | |
| Current assets | 29/58 | €809,802 | €766,418 | -€43,384 | -5.4% |
| Amounts receivable within one year | 40/41 | €36,632 | €71,211 | +€34,580 | +94.4% |
| Trade receivables | 40 | €35,209 | €61,036 | +€25,827 | +73.4% |
| Other amounts receivable | 41 | €1,423 | €10,175 | +€8,752 | +615.2% |
| Current investments | 50/53 | €540,000 | €540,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €230,438 | €152,249 | -€78,189 | -33.9% |
| Deferred charges and accrued income | 490/1 | €2,732 | €2,958 | +€226 | +8.3% |
| Total equity and liabilities | 10/49 | €1,190,923 | €1,321,857 | +€130,934 | +11.0% |
| Equity | 10/15 | €872,404 | €870,040 | -€2,363 | -0.3% |
| Contributions | 10/11 | €474,132 | €474,132 | = | 0.0% |
| Contributions outside capital | 11 | €474,132 | - | -€474,132 | |
| Other | 1109/19 | €474,132 | - | -€474,132 | |
| Reserves | 13 | €398,272 | €398,272 | = | 0.0% |
| Distributable reserves | 133 | €398,272 | €398,272 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,363 | -€2,363 | |
| Amounts payable | 17/49 | €318,520 | €451,817 | +€133,297 | +41.8% |
| Amounts payable after more than one year | 17 | €250,505 | €264,303 | +€13,797 | +5.5% |
| Financial debts | 170/4 | €250,505 | €264,303 | +€13,797 | +5.5% |
| Amounts payable within one year | 42/48 | €54,217 | €187,514 | +€133,297 | +245.9% |
| Trade debts | 44 | €16,852 | €83,241 | +€66,389 | +393.9% |
| Suppliers | 440/4 | €16,852 | €83,241 | +€66,389 | +393.9% |
| Taxes, remuneration and social security | 45 | €37,034 | €8,947 | -€28,086 | -75.8% |
| Taxes | 450/3 | €37,034 | €8,947 | -€28,086 | -75.8% |
| Other amounts payable | 47/48 | €331 | €95,326 | +€94,995 | +28694.2% |
| Accrued charges and deferred income | 492/3 | €13,797 | €0 | -€13,797 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,731 | €30,974 | +€1,243 | +4.2% |
| Other operating charges | 640/8 | €6,428 | €6,432 | +€4 | +0.1% |
| Gross operating margin | 9900 | €119,593 | €35,532 | -€84,061 | -70.3% |
| Operating profit (loss) | 9901 | €83,435 | -€1,873 | -€85,308 | |
| Financial income | 75/76B | €6,762 | €24 | -€6,738 | -99.7% |
| Recurring financial income | 75 | €6,762 | €24 | -€6,738 | -99.7% |
| Financial charges | 65/66B | €19,835 | €514 | -€19,321 | -97.4% |
| Recurring financial charges | 65 | €19,835 | €514 | -€19,321 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | €70,361 | -€2,363 | -€72,725 | |
| Income taxes | 67/77 | €18,994 | €0 | -€18,994 | -100.0% |
| Profit (loss) for the period | 9904 | €51,368 | -€2,363 | -€53,731 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,368 | -€2,363 | -€53,731 |
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 9 October 2026 via checked.be.