BRAM BAERT: 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 BAERT
Largest movements
- Current investments +€118,928
up €118,928 (+81.2%), from €146,430 to €265,358
- Cash -€74,400
down €74,400 (-81.6%), from €91,203 to €16,803
mainly Contributions, distributions and other (-€203,830) and Current investments (-€118,928)
- Receivables within one year +€55,262
up €55,262 (+34.1%), from €161,846 to €217,108
- Tangible fixed assets -€12,840
down €12,840 (-31.6%), from €40,685 to €27,845
of which Furniture and vehicles: -€10,578
- Other debts +€160,208
up €160,208 (+146%), from €109,676 to €269,884
- Reserves -€61,430
down €61,430 (-14.4%), from €426,600 to €365,170
- Tax, wage and social debts -€9,973
down €9,973 (-14.3%), from €69,520 to €59,547
- Gross operating margin +€40,715
up €40,715 (+22.1%), from €184,065 to €224,781
- Taxes +€12,392
up €12,392 (+24.7%), from €50,264 to €62,656
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 | €626,079 | €713,025 | +€86,946 | +13.9% |
| Fixed assets | 21/28 | €40,685 | €27,845 | -€12,840 | -31.6% |
| Tangible fixed assets | 22/27 | €40,685 | €27,845 | -€12,840 | -31.6% |
| Plant, machinery and equipment | 23 | €17,120 | €14,858 | -€2,262 | -13.2% |
| Furniture and vehicles | 24 | €23,564 | €12,987 | -€10,578 | -44.9% |
| Current assets | 29/58 | €585,394 | €685,180 | +€99,786 | +17.0% |
| Amounts receivable after more than one year | 29 | €180,000 | €180,000 | = | 0.0% |
| Other amounts receivable | 291 | €180,000 | €180,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €161,846 | €217,108 | +€55,262 | +34.1% |
| Trade receivables | 40 | €161,846 | €217,108 | +€55,262 | +34.1% |
| Current investments | 50/53 | €146,430 | €265,358 | +€118,928 | +81.2% |
| Cash at bank and in hand | 54/58 | €91,203 | €16,803 | -€74,400 | -81.6% |
| Deferred charges and accrued income | 490/1 | €5,915 | €5,911 | -€4 | -0.1% |
| Total equity and liabilities | 10/49 | €626,079 | €713,025 | +€86,946 | +13.9% |
| Equity | 10/15 | €439,122 | €377,800 | -€61,322 | -14.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €426,600 | €365,170 | -€61,430 | -14.4% |
| Distributable reserves | 133 | €426,600 | €365,170 | -€61,430 | -14.4% |
| Profit (loss) carried forward | 14 | €122 | €230 | +€108 | +88.4% |
| Amounts payable | 17/49 | €186,957 | €335,226 | +€148,269 | +79.3% |
| Amounts payable within one year | 42/48 | €183,269 | €330,323 | +€147,054 | +80.2% |
| Trade debts | 44 | €4,073 | €892 | -€3,182 | -78.1% |
| Suppliers | 440/4 | €4,073 | €892 | -€3,182 | -78.1% |
| Taxes, remuneration and social security | 45 | €69,520 | €59,547 | -€9,973 | -14.3% |
| Taxes | 450/3 | €69,520 | €59,547 | -€9,973 | -14.3% |
| Other amounts payable | 47/48 | €109,676 | €269,884 | +€160,208 | +146% |
| Accrued charges and deferred income | 492/3 | €3,688 | €4,902 | +€1,214 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,387 | €18,661 | +€273 | +1.5% |
| Other operating charges | 640/8 | €1,123 | €1,148 | +€24 | +2.2% |
| Gross operating margin | 9900 | €184,065 | €224,781 | +€40,715 | +22.1% |
| Operating profit (loss) | 9901 | €164,555 | €204,972 | +€40,418 | +24.6% |
| Financial income | 75/76B | €4,806 | €5,009 | +€202 | +4.2% |
| Recurring financial income | 75 | €4,806 | €5,009 | +€202 | +4.2% |
| Financial charges | 65/66B | €3,808 | €4,817 | +€1,009 | +26.5% |
| Recurring financial charges | 65 | €3,808 | €4,817 | +€1,009 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €165,553 | €205,164 | +€39,610 | +23.9% |
| Income taxes | 67/77 | €50,264 | €62,656 | +€12,392 | +24.7% |
| Profit (loss) for the period | 9904 | €115,289 | €142,508 | +€27,219 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €115,289 | €142,508 | +€27,219 | +23.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.