BRAKO: 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.
What changed
BRAKO
NACE 46.841, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€168,826
2024 · €266,216-€97,390
Equity
€4.2m
2024 · €4.0m+€168,826
Cash
€160,961
2024 · €143,771+€17,191
Balance sheet total
€5.1m
2024 · €4.6m+€487,557
Largest movements
Assets
- Financial fixed assets +€581,615
up €581,615 (+129.2%), from €450,000 to €1.0m
- Receivables within one year -€107,692
down €107,692 (-5.3%), from €2.0m to €1.9m
of which Trade receivables: -€164,090
Equity and liabilities
- Debts after one year +€276,129
up €276,129 (+110.8%), from €249,222 to €525,351
of which Financial debts: +€276,129
- Current portion of long-term debt +€169,449
up €169,449 (+1670.4%), from €10,145 to €179,593
- Profit (loss) carried forward +€168,826
up €168,826 (+54.5%), from €309,884 to €478,710
- Trade debts -€113,346
down €113,346 (-55.9%), from €202,669 to €89,323
Income statement
- Gross operating margin -€179,085
down €179,085 (-15.6%), from €1.2m to €971,844
- Staff costs -€37,267
down €37,267 (-5.3%), from €699,325 to €662,059
- Taxes -€34,487
down €34,487 (-37.3%), from €92,480 to €57,993
- Financial charges +€16,385
up €16,385 (+182.0%), from €9,004 to €25,389
- Depreciation -€16,314
down €16,314 (-15.2%), from €107,432 to €91,118
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.
Result 2024
€266,216
Gross operating margin
-€179,085
Staff costs
+€37,267
Depreciation
+€16,314
Other operating charges
+€456
Financial income
+€9,556
Financial charges
-€16,385
Taxes
+€34,487
Result 2025
€168,826
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.
From operations
+€237,761
Investment
-€666,149
Financing
+€445,578
Cash 2024
€143,771
From operations (derived)
+€237,761
Net result for the year
+€168,826
Depreciation
+€91,118
Stocks and contracts
-€5,469
Receivables within one year
+€107,692
Deferred charges and accrued income
+€2,441
Trade debts
-€113,346
Tax, wage and social debts
-€13,501
Investment (derived)
-€666,149
Investment in fixed assets (net)
-€666,149
Financing
+€445,578
Debts after one year
+€276,129
Current portion of long-term debt
+€169,449
Cash 2025
€160,961
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,578,577 | €5,066,134 | +€487,557 | +10.6% |
| Fixed assets | 21/28 | €1,040,699 | €1,615,729 | +€575,030 | +55.3% |
| Intangible fixed assets | 21 | €23,764 | €23,563 | -€202 | -0.8% |
| Tangible fixed assets | 22/27 | €566,935 | €560,552 | -€6,383 | -1.1% |
| Land and buildings | 22 | €264,675 | €247,615 | -€17,061 | -6.4% |
| Plant, machinery and equipment | 23 | €92,465 | €151,886 | +€59,421 | +64.3% |
| Furniture and vehicles | 24 | €186,240 | €146,129 | -€40,112 | -21.5% |
| Other tangible fixed assets | 26 | €10,204 | €14,923 | +€4,719 | +46.2% |
| Assets under construction and advance payments | 27 | €13,350 | - | -€13,350 | |
| Financial fixed assets | 28 | €450,000 | €1,031,615 | +€581,615 | +129.2% |
| Current assets | 29/58 | €3,537,878 | €3,450,405 | -€87,473 | -2.5% |
| Stocks and contracts in progress | 3 | €1,330,316 | €1,335,785 | +€5,469 | +0.4% |
| Stocks | 30/36 | €1,330,316 | €1,335,785 | +€5,469 | +0.4% |
| Amounts receivable within one year | 40/41 | €2,030,427 | €1,922,736 | -€107,692 | -5.3% |
| Trade receivables | 40 | €830,662 | €666,572 | -€164,090 | -19.8% |
| Other amounts receivable | 41 | €1,199,766 | €1,256,164 | +€56,398 | +4.7% |
| Cash at bank and in hand | 54/58 | €143,771 | €160,961 | +€17,191 | +12.0% |
| Deferred charges and accrued income | 490/1 | €33,364 | €30,923 | -€2,441 | -7.3% |
| Total equity and liabilities | 10/49 | €4,578,577 | €5,066,134 | +€487,557 | +10.6% |
| Equity | 10/15 | €4,008,298 | €4,177,124 | +€168,826 | +4.2% |
| Contributions | 10/11 | €903,606 | €903,606 | = | 0.0% |
| Capital | 10 | €903,455 | €903,455 | = | 0.0% |
| Issued capital | 100 | €903,455 | €903,455 | = | 0.0% |
| Outside capital | 11 | €151 | €151 | = | 0.0% |
| Share premium | 1100/10 | €151 | €151 | = | 0.0% |
| Revaluation surpluses | 12 | €175,200 | €175,200 | = | 0.0% |
| Reserves | 13 | €2,619,608 | €2,619,608 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €86,566 | €86,566 | = | 0.0% |
| Distributable reserves | 133 | €2,433,043 | €2,433,043 | = | 0.0% |
| Profit (loss) carried forward | 14 | €309,884 | €478,710 | +€168,826 | +54.5% |
| Amounts payable | 17/49 | €570,279 | €889,010 | +€318,731 | +55.9% |
| Amounts payable after more than one year | 17 | €249,222 | €525,351 | +€276,129 | +110.8% |
| Financial debts | 170/4 | €210,155 | €486,285 | +€276,129 | +131.4% |
| Other amounts payable | 178/9 | €39,067 | €39,067 | = | 0.0% |
| Amounts payable within one year | 42/48 | €321,057 | €363,659 | +€42,601 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €10,145 | €179,593 | +€169,449 | +1670.4% |
| Trade debts | 44 | €202,669 | €89,323 | -€113,346 | -55.9% |
| Suppliers | 440/4 | €202,669 | €89,323 | -€113,346 | -55.9% |
| Taxes, remuneration and social security | 45 | €108,243 | €94,742 | -€13,501 | -12.5% |
| Taxes | 450/3 | €26,946 | €27,968 | +€1,022 | +3.8% |
| Remuneration and social security | 454/9 | €81,298 | €66,774 | -€14,523 | -17.9% |
| Remuneration, social security and pensions | 62 | €699,325 | €662,059 | -€37,267 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,432 | €91,118 | -€16,314 | -15.2% |
| Other operating charges | 640/8 | €7,476 | €7,020 | -€456 | -6.1% |
| Gross operating margin | 9900 | €1,150,929 | €971,844 | -€179,085 | -15.6% |
| Operating profit (loss) | 9901 | €336,695 | €211,646 | -€125,048 | -37.1% |
| Financial income | 75/76B | €31,006 | €40,562 | +€9,556 | +30.8% |
| Recurring financial income | 75 | €31,006 | €40,562 | +€9,556 | +30.8% |
| Financial charges | 65/66B | €9,004 | €25,389 | +€16,385 | +182.0% |
| Recurring financial charges | 65 | €9,004 | €25,389 | +€16,385 | +182.0% |
| Profit (loss) for the period before taxes | 9903 | €358,697 | €226,820 | -€131,877 | -36.8% |
| Income taxes | 67/77 | €92,480 | €57,993 | -€34,487 | -37.3% |
| Profit (loss) for the period | 9904 | €266,216 | €168,826 | -€97,390 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €266,216 | €168,826 | -€97,390 | -36.6% |
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 4 October 2026 via checked.be.