Brancusi: 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.
Brancusi
Largest movements
- Cash +€59,543
up €59,543 (+34.6%), from €172,089 to €231,632
mainly Net result for the year (+€90,874) and Other debts (+€40,097)
- Tangible fixed assets -€10,546
down €10,546 (-12.8%), from €82,130 to €71,583
of which Furniture and vehicles: -€10,211
- Current investments -€10,324
down €10,324 (-6.7%), from €155,074 to €144,750
- Deferred charges and accrued income -€10,213
down €10,213 (-87.3%), from €11,697 to €1,484
- Receivables within one year +€8,180
up €8,180 (+31.9%), from €25,604 to €33,784
of which Trade receivables: +€15,180
- Other debts +€40,097
up €40,097 (+356.0%), from €11,265 to €51,362
- Reserves -€7,272
down €7,272 (-1.7%), from €416,587 to €409,316
- Trade debts +€6,880
up €6,880 (+576.6%), from €1,193 to €8,073
- Financial charges -€11,182
down €11,182, from €7,427 to -€3,754
of which Non-recurring financial charges: -€7,222
- Financial income +€6,211
up €6,211 (+93.6%), from €6,634 to €12,844
of which Financial income: +€6,755
- Taxes +€2,005
up €2,005 (+6.3%), from €31,992 to €33,996
- Depreciation +€1,889
up €1,889 (+7.6%), from €24,950 to €26,840
- Gross operating margin +€1,746
up €1,746 (+1.3%), from €134,530 to €136,276
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 | €446,593 | €483,233 | +€36,640 | +8.2% |
| Fixed assets | 21/28 | €82,130 | €71,583 | -€10,546 | -12.8% |
| Tangible fixed assets | 22/27 | €82,130 | €71,583 | -€10,546 | -12.8% |
| Land and buildings | 22 | €2,298 | €1,963 | -€335 | -14.6% |
| Furniture and vehicles | 24 | €79,831 | €69,620 | -€10,211 | -12.8% |
| Current assets | 29/58 | €364,464 | €411,650 | +€47,186 | +12.9% |
| Amounts receivable within one year | 40/41 | €25,604 | €33,784 | +€8,180 | +31.9% |
| Trade receivables | 40 | €18,604 | €33,784 | +€15,180 | +81.6% |
| Other amounts receivable | 41 | €7,000 | €0 | -€7,000 | -100.0% |
| Current investments | 50/53 | €155,074 | €144,750 | -€10,324 | -6.7% |
| Cash at bank and in hand | 54/58 | €172,089 | €231,632 | +€59,543 | +34.6% |
| Deferred charges and accrued income | 490/1 | €11,697 | €1,484 | -€10,213 | -87.3% |
| Total equity and liabilities | 10/49 | €446,593 | €483,233 | +€36,640 | +8.2% |
| Equity | 10/15 | €416,587 | €409,316 | -€7,272 | -1.7% |
| Reserves | 13 | €416,587 | €409,316 | -€7,272 | -1.7% |
| Distributable reserves | 133 | €416,587 | €409,316 | -€7,272 | -1.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €30,006 | €73,917 | +€43,912 | +146.3% |
| Amounts payable within one year | 42/48 | €30,006 | €73,917 | +€43,912 | +146.3% |
| Trade debts | 44 | €1,193 | €8,073 | +€6,880 | +576.6% |
| Suppliers | 440/4 | €1,193 | €8,073 | +€6,880 | +576.6% |
| Taxes, remuneration and social security | 45 | €17,548 | €14,482 | -€3,066 | -17.5% |
| Taxes | 450/3 | €17,548 | €14,482 | -€3,066 | -17.5% |
| Other amounts payable | 47/48 | €11,265 | €51,362 | +€40,097 | +356.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,950 | €26,840 | +€1,889 | +7.6% |
| Other operating charges | 640/8 | €1,208 | €1,035 | -€173 | -14.3% |
| Non-recurring operating charges | 66A | €44 | €130 | +€87 | +199.6% |
| Gross operating margin | 9900 | €134,530 | €136,276 | +€1,746 | +1.3% |
| Operating profit (loss) | 9901 | €108,328 | €108,271 | -€57 | -0.1% |
| Financial income | 75/76B | €6,634 | €12,844 | +€6,211 | +93.6% |
| Recurring financial income | 75 | €6,089 | €12,844 | +€6,755 | +110.9% |
| Non-recurring financial income | 76B | €545 | €0 | -€545 | -100.0% |
| Financial charges | 65/66B | €7,427 | -€3,754 | -€11,182 | |
| Recurring financial charges | 65 | €205 | -€3,754 | -€3,959 | |
| Non-recurring financial charges | 66B | €7,222 | - | -€7,222 | |
| Profit (loss) for the period before taxes | 9903 | €107,535 | €124,870 | +€17,335 | +16.1% |
| Income taxes | 67/77 | €31,992 | €33,996 | +€2,005 | +6.3% |
| Profit (loss) for the period | 9904 | €75,543 | €90,874 | +€15,330 | +20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €75,543 | €90,874 | +€15,330 | +20.3% |
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 3 October 2026 via checked.be.