BRAND MACHINE: 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.
BRAND MACHINE
Largest movements
- Receivables within one year +€16.0m
up €16.0m (+1617.3%), from €987,981 to €17.0m
of which Other amounts receivable: +€15.7m
- Financial fixed assets -€5.2m
down €5.2m (-56.4%), from €9.1m to €4.0m
of which Other financial fixed assets: -€5.2m
- Cash -€3.7m
down €3.7m (-95.4%), from €3.8m to €175,728
mainly Receivables within one year (-€16.0m) and Contributions, distributions and other (-€13.0m)
- Current investments -€3.3m
down €3.3m (-30.8%), from €10.7m to €7.4m
- Receivables after one year +€809,925
up €809,925 (+290.3%), from €279,025 to €1.1m
- Reserves +€4.4m
up €4.4m (+17.6%), from €24.9m to €29.3m
of which Distributable reserves: +€5.3m
- Financial income +€12.8m
up €12.8m (+2294.3%), from €559,441 to €13.4m
- Turnover +€1.2m
up €1.2m (+24.4%), from €4.9m to €6.1m
- Taxes +€251,388
up €251,388 (+20.5%), from €1.2m to €1.5m
- Staff costs +€63,377
up €63,377 (+16.1%), from €394,652 to €458,029
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 | €25,195,846 | €29,710,908 | +€4.5m | +17.9% |
| Fixed assets | 21/28 | €9,138,683 | €3,981,845 | -€5.2m | -56.4% |
| Financial fixed assets | 28 | €9,138,683 | €3,981,845 | -€5.2m | -56.4% |
| Affiliated companies | 280/1 | €3,981,845 | €3,981,845 | = | 0.0% |
| Participating interests | 280 | €3,081,845 | €3,081,845 | = | 0.0% |
| Amounts receivable | 281 | €900,000 | €900,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,156,838 | €0 | -€5.2m | -100.0% |
| Shares | 284 | €5,156,838 | €0 | -€5.2m | -100.0% |
| Current assets | 29/58 | €16,057,163 | €25,729,063 | +€9.7m | +60.2% |
| Amounts receivable after more than one year | 29 | €279,025 | €1,088,950 | +€809,925 | +290.3% |
| Other amounts receivable | 291 | €279,025 | €1,088,950 | +€809,925 | +290.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €987,981 | €16,966,873 | +€16.0m | +1617.3% |
| Trade receivables | 40 | €682,613 | €945,293 | +€262,680 | +38.5% |
| Other amounts receivable | 41 | €305,368 | €16,021,580 | +€15.7m | +5146.6% |
| Current investments | 50/53 | €10,705,345 | €7,409,986 | -€3.3m | -30.8% |
| Other investments | 51/53 | €10,705,345 | €7,409,986 | -€3.3m | -30.8% |
| Cash at bank and in hand | 54/58 | €3,839,168 | €175,728 | -€3.7m | -95.4% |
| Deferred charges and accrued income | 490/1 | €245,644 | €87,526 | -€158,118 | -64.4% |
| Total equity and liabilities | 10/49 | €25,195,846 | €29,710,908 | +€4.5m | +17.9% |
| Equity | 10/15 | €24,928,038 | €29,313,099 | +€4.4m | +17.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,909,438 | €29,294,499 | +€4.4m | +17.6% |
| Tax-exempt reserves | 132 | €3,683,750 | €2,744,920 | -€938,830 | -25.5% |
| Distributable reserves | 133 | €21,225,688 | €26,549,579 | +€5.3m | +25.1% |
| Amounts payable | 17/49 | €267,808 | €397,809 | +€130,001 | +48.5% |
| Amounts payable within one year | 42/48 | €234,679 | €397,762 | +€163,082 | +69.5% |
| Trade debts | 44 | €81,304 | €4,003 | -€77,301 | -95.1% |
| Suppliers | 440/4 | €81,304 | €4,003 | -€77,301 | -95.1% |
| Taxes, remuneration and social security | 45 | €153,376 | €393,759 | +€240,383 | +156.7% |
| Taxes | 450/3 | €104,620 | €355,628 | +€251,008 | +239.9% |
| Remuneration and social security | 454/9 | €48,755 | €38,131 | -€10,625 | -21.8% |
| Accrued charges and deferred income | 492/3 | €33,129 | €47 | -€33,081 | -99.9% |
| Operating income | 70/76A | €4,961,737 | €6,156,684 | +€1.2m | +24.1% |
| Turnover | 70 | €4,941,000 | €6,148,337 | +€1.2m | +24.4% |
| Other operating income | 74 | €20,737 | €8,346 | -€12,390 | -59.8% |
| Operating charges | 60/66A | €571,146 | €680,343 | +€109,197 | +19.1% |
| Services and other goods | 61 | €173,178 | €218,913 | +€45,735 | +26.4% |
| Remuneration, social security and pensions | 62 | €394,652 | €458,029 | +€63,377 | +16.1% |
| Other operating charges | 640/8 | €3,315 | €3,401 | +€86 | +2.6% |
| Operating profit (loss) | 9901 | €4,390,591 | €5,476,340 | +€1.1m | +24.7% |
| Financial income | 75/76B | €559,441 | €13,394,743 | +€12.8m | +2294.3% |
| Recurring financial income | 75 | €559,441 | €13,394,743 | +€12.8m | +2294.3% |
| Income from financial fixed assets | 750 | €19,767 | €12,997,322 | +€13.0m | +65653.6% |
| Income from current assets | 751 | €539,595 | €391,859 | -€147,736 | -27.4% |
| Other financial income | 752/9 | €80 | €5,562 | +€5,482 | +6867.6% |
| Financial charges | 65/66B | €5,250 | €8,437 | +€3,187 | +60.7% |
| Recurring financial charges | 65 | €5,250 | €8,437 | +€3,187 | +60.7% |
| Debt charges | 650 | €696 | €999 | +€303 | +43.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €4,554 | €7,438 | +€2,884 | +63.3% |
| Profit (loss) for the period before taxes | 9903 | €4,944,783 | €18,862,647 | +€13.9m | +281.5% |
| Income taxes | 67/77 | €1,226,199 | €1,477,586 | +€251,388 | +20.5% |
| Taxes | 670/3 | €1,226,199 | €1,477,586 | +€251,388 | +20.5% |
| Profit (loss) for the period | 9904 | €3,718,584 | €17,385,061 | +€13.7m | +367.5% |
| Transfer from tax-exempt reserves | 789 | €0 | €938,830 | +€938,830 | |
| Transfer to tax-exempt reserves | 689 | €999,875 | €0 | -€999,875 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,718,709 | €18,323,891 | +€15.6m | +574.0% |
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 30 September 2026 via checked.be.