BRAM ADAMS: 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.
BRAM ADAMS
Largest movements
- Cash +€63,302
up €63,302 (+17.7%), from €357,500 to €420,802
mainly Net result for the year (+€75,499) and Depreciation (+€66,104)
- Receivables within one year +€48,824
up €48,824 (+70.1%), from €69,662 to €118,486
of which Trade receivables: +€32,323
- Profit (loss) carried forward +€75,499
new in 2025: €75,499
- Accrued charges and deferred income -€47,127
no longer reported in 2025 (was €47,127)
- Trade debts +€44,413
up €44,413 (+32.3%), from €137,651 to €182,065
- Tax, wage and social debts +€34,073
up €34,073 (+39.7%), from €85,791 to €119,863
of which Taxes: +€35,339
- Gross operating margin -€58,861
down €58,861 (-17.4%), from €338,579 to €279,718
- Taxes -€35,012
down €35,012 (-62.7%), from €55,816 to €20,804
- Staff costs +€21,256
up €21,256 (+27.5%), from €77,430 to €98,686
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 | €1,239,414 | €1,351,486 | +€112,072 | +9.0% |
| Fixed assets | 21/28 | €795,627 | €790,947 | -€4,679 | -0.6% |
| Tangible fixed assets | 22/27 | €793,854 | €790,947 | -€2,906 | -0.4% |
| Land and buildings | 22 | €716,017 | €726,809 | +€10,792 | +1.5% |
| Plant, machinery and equipment | 23 | €39,134 | €34,964 | -€4,170 | -10.7% |
| Furniture and vehicles | 24 | €38,703 | €29,175 | -€9,528 | -24.6% |
| Financial fixed assets | 28 | €1,773 | - | -€1,773 | |
| Current assets | 29/58 | €443,787 | €560,539 | +€116,752 | +26.3% |
| Stocks and contracts in progress | 3 | €16,625 | €16,625 | = | 0.0% |
| Stocks | 30/36 | €16,625 | €16,625 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €69,662 | €118,486 | +€48,824 | +70.1% |
| Trade receivables | 40 | €24,777 | €57,100 | +€32,323 | +130% |
| Other amounts receivable | 41 | €44,885 | €61,386 | +€16,501 | +36.8% |
| Cash at bank and in hand | 54/58 | €357,500 | €420,802 | +€63,302 | +17.7% |
| Deferred charges and accrued income | 490/1 | - | €4,626 | +€4,626 | |
| Total equity and liabilities | 10/49 | €1,239,414 | €1,351,486 | +€112,072 | +9.0% |
| Equity | 10/15 | €476,830 | €552,329 | +€75,499 | +15.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €464,430 | €464,430 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €462,570 | €462,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €75,499 | +€75,499 | |
| Amounts payable | 17/49 | €762,583 | €799,157 | +€36,574 | +4.8% |
| Amounts payable after more than one year | 17 | €428,771 | €426,650 | -€2,122 | -0.5% |
| Financial debts | 170/4 | €428,771 | €426,650 | -€2,122 | -0.5% |
| Amounts payable within one year | 42/48 | €286,685 | €372,507 | +€85,822 | +29.9% |
| Current portion of amounts payable after more than one year | 42 | €40,671 | €47,108 | +€6,436 | +15.8% |
| Trade debts | 44 | €137,651 | €182,065 | +€44,413 | +32.3% |
| Suppliers | 440/4 | €137,651 | €182,065 | +€44,413 | +32.3% |
| Advances received on contracts in progress | 46 | €22,572 | €23,472 | +€900 | +4.0% |
| Taxes, remuneration and social security | 45 | €85,791 | €119,863 | +€34,073 | +39.7% |
| Taxes | 450/3 | €81,636 | €116,975 | +€35,339 | +43.3% |
| Remuneration and social security | 454/9 | €4,155 | €2,888 | -€1,267 | -30.5% |
| Accrued charges and deferred income | 492/3 | €47,127 | - | -€47,127 | |
| Non-recurring operating income | 76A | €18,000 | - | -€18,000 | |
| Remuneration, social security and pensions | 62 | €77,430 | €98,686 | +€21,256 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,962 | €66,104 | +€3,142 | +5.0% |
| Other operating charges | 640/8 | €7,295 | €9,817 | +€2,522 | +34.6% |
| Gross operating margin | 9900 | €338,579 | €279,718 | -€58,861 | -17.4% |
| Operating profit (loss) | 9901 | €190,893 | €105,111 | -€85,782 | -44.9% |
| Financial income | 75/76B | €4 | €51 | +€47 | +1,192% |
| Recurring financial income | 75 | €4 | €51 | +€47 | +1,192% |
| Financial charges | 65/66B | €9,480 | €8,860 | -€620 | -6.5% |
| Recurring financial charges | 65 | €9,480 | €8,860 | -€620 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €181,416 | €96,303 | -€85,114 | -46.9% |
| Income taxes | 67/77 | €55,816 | €20,804 | -€35,012 | -62.7% |
| Profit (loss) for the period | 9904 | €125,600 | €75,499 | -€50,102 | -39.9% |
| Profit (loss) for the period to be appropriated | 9905 | €125,600 | €75,499 | -€50,102 | -39.9% |
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 24 October 2026 via checked.be.