BRAM CORNELIS: 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 CORNELIS
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+171%), from €615,445 to €1.7m
of which Land and buildings: +€1.1m
- Receivables within one year -€78,445
down €78,445 (-36.6%), from €214,145 to €135,700
of which Trade receivables: -€94,247
- Debts after one year +€820,329
up €820,329 (+210%), from €391,385 to €1.2m
- Other debts +€119,571
up €119,571, from €0 to €119,571
- Current portion of long-term debt +€53,698
up €53,698 (+117%), from €46,037 to €99,735
- Reserves -€37,450
down €37,450 (-9.4%), from €396,672 to €359,222
- Gross operating margin -€63,216
down €63,216 (-29.1%), from €217,368 to €154,151
- Taxes -€20,033
down €20,033 (-36.9%), from €54,226 to €34,194
- Financial charges +€7,355
up €7,355 (+51.9%), from €14,165 to €21,521
- Depreciation +€3,445
up €3,445 (+13.3%), from €25,949 to €29,395
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 | €876,222 | €1,837,108 | +€960,886 | +110% |
| Fixed assets | 21/28 | €615,445 | €1,669,819 | +€1.1m | +171% |
| Tangible fixed assets | 22/27 | €615,445 | €1,669,819 | +€1.1m | +171% |
| Land and buildings | 22 | €581,698 | €1,635,270 | +€1.1m | +181% |
| Plant, machinery and equipment | 23 | - | €1,768 | +€1,768 | |
| Furniture and vehicles | 24 | €11,825 | €8,550 | -€3,275 | -27.7% |
| Other tangible fixed assets | 26 | €21,922 | €24,230 | +€2,308 | +10.5% |
| Current assets | 29/58 | €260,777 | €167,289 | -€93,487 | -35.8% |
| Amounts receivable after more than one year | 29 | €9,500 | €9,500 | = | 0.0% |
| Other amounts receivable | 291 | €9,500 | €9,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €214,145 | €135,700 | -€78,445 | -36.6% |
| Trade receivables | 40 | €211,477 | €117,230 | -€94,247 | -44.6% |
| Other amounts receivable | 41 | €2,668 | €18,470 | +€15,801 | +592% |
| Cash at bank and in hand | 54/58 | €33,693 | €19,957 | -€13,736 | -40.8% |
| Deferred charges and accrued income | 490/1 | €3,439 | €2,133 | -€1,306 | -38.0% |
| Total equity and liabilities | 10/49 | €876,222 | €1,837,108 | +€960,886 | +110% |
| Equity | 10/15 | €396,756 | €359,329 | -€37,427 | -9.4% |
| Reserves | 13 | €396,672 | €359,222 | -€37,450 | -9.4% |
| Distributable reserves | 133 | €396,672 | €359,222 | -€37,450 | -9.4% |
| Profit (loss) carried forward | 14 | €84 | €107 | +€23 | +27.6% |
| Amounts payable | 17/49 | €479,466 | €1,477,779 | +€998,313 | +208% |
| Amounts payable after more than one year | 17 | €391,385 | €1,211,713 | +€820,329 | +210% |
| Financial debts | 170/4 | €391,385 | €1,211,713 | +€820,329 | +210% |
| Amounts payable within one year | 42/48 | €88,081 | €266,066 | +€177,985 | +202% |
| Current portion of amounts payable after more than one year | 42 | €46,037 | €99,735 | +€53,698 | +117% |
| Financial debts | 43 | €20,729 | €21,266 | +€537 | +2.6% |
| Credit institutions | 430/8 | €20,729 | €21,266 | +€537 | +2.6% |
| Trade debts | 44 | €9,164 | €22,830 | +€13,666 | +149% |
| Suppliers | 440/4 | €9,164 | €22,830 | +€13,666 | +149% |
| Taxes, remuneration and social security | 45 | €12,152 | €2,664 | -€9,488 | -78.1% |
| Taxes | 450/3 | €12,152 | €2,664 | -€9,488 | -78.1% |
| Other amounts payable | 47/48 | €0 | €119,571 | +€119,571 | |
| Non-recurring operating income | 76A | - | €15,962 | +€15,962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,949 | €29,395 | +€3,445 | +13.3% |
| Other operating charges | 640/8 | €721 | €1,583 | +€862 | +120% |
| Gross operating margin | 9900 | €217,368 | €154,151 | -€63,216 | -29.1% |
| Operating profit (loss) | 9901 | €190,697 | €123,173 | -€67,524 | -35.4% |
| Financial income | 75/76B | €0 | €64 | +€64 | +63,910% |
| Recurring financial income | 75 | €0 | €64 | +€64 | +63,910% |
| Financial charges | 65/66B | €14,165 | €21,521 | +€7,355 | +51.9% |
| Recurring financial charges | 65 | €14,165 | €21,521 | +€7,355 | +51.9% |
| Profit (loss) for the period before taxes | 9903 | €176,532 | €101,717 | -€74,815 | -42.4% |
| Income taxes | 67/77 | €54,226 | €34,194 | -€20,033 | -36.9% |
| Profit (loss) for the period | 9904 | €122,306 | €67,523 | -€54,783 | -44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €122,306 | €67,523 | -€54,783 | -44.8% |
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 28 October 2026 via checked.be.