Brand Solutions Europe: 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 Solutions Europe
Largest movements
- Receivables within one year +€43,676
up €43,676 (+229.8%), from €19,006 to €62,682
- Intangible fixed assets -€21,623
down €21,623 (-10.0%), from €216,166 to €194,543
- Deferred charges and accrued income +€10,880
up €10,880 (+483.3%), from €2,251 to €13,131
- Financial fixed assets -€6,240
down €6,240 (-68.9%), from €9,055 to €2,815
- Cash -€6,219
down €6,219 (-100.0%), from €6,219 to €0
mainly Short-term financial debts (-€68,705) and Receivables within one year (-€43,676)
- Short-term financial debts -€68,705
down €68,705 (-94.4%), from €72,812 to €4,108
of which Other loans: -€64,986
- Reserves +€46,492
up €46,492 (+226.1%), from €20,565 to €67,057
- Other debts +€42,635
up €42,635 (+870.8%), from €4,896 to €47,531
- Trade debts +€28,327
up €28,327 (+123.7%), from €22,906 to €51,232
- Debts after one year -€19,406
down €19,406 (-34.3%), from €56,619 to €37,212
- Staff costs -€47,785
down €47,785 (-71.5%), from €66,845 to €19,061
- Gross operating margin +€32,072
up €32,072 (+33.1%), from €96,788 to €128,860
- Depreciation +€21,653
up €21,653 (+469.0%), from €4,616 to €26,269
- Taxes +€20,902
up €20,902 (+1939.7%), from €1,078 to €21,980
- Other operating charges -€5,309
down €5,309 (-74.2%), from €7,151 to €1,842
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 | €261,905 | €277,733 | +€15,828 | +6.0% |
| Fixed assets | 21/28 | €234,429 | €201,920 | -€32,509 | -13.9% |
| Intangible fixed assets | 21 | €216,166 | €194,543 | -€21,623 | -10.0% |
| Tangible fixed assets | 22/27 | €9,208 | €4,562 | -€4,647 | -50.5% |
| Furniture and vehicles | 24 | €9,208 | €4,562 | -€4,647 | -50.5% |
| Financial fixed assets | 28 | €9,055 | €2,815 | -€6,240 | -68.9% |
| Current assets | 29/58 | €27,476 | €75,813 | +€48,337 | +175.9% |
| Amounts receivable within one year | 40/41 | €19,006 | €62,682 | +€43,676 | +229.8% |
| Trade receivables | 40 | €19,006 | €62,682 | +€43,676 | +229.8% |
| Cash at bank and in hand | 54/58 | €6,219 | €0 | -€6,219 | -100.0% |
| Deferred charges and accrued income | 490/1 | €2,251 | €13,131 | +€10,880 | +483.3% |
| Total equity and liabilities | 10/49 | €261,905 | €277,733 | +€15,828 | +6.0% |
| Equity | 10/15 | €39,165 | €85,657 | +€46,492 | +118.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,565 | €67,057 | +€46,492 | +226.1% |
| Distributable reserves | 133 | €20,565 | €67,057 | +€46,492 | +226.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €222,740 | €192,076 | -€30,664 | -13.8% |
| Amounts payable after more than one year | 17 | €56,619 | €37,212 | -€19,406 | -34.3% |
| Financial debts | 170/4 | €56,619 | €37,212 | -€19,406 | -34.3% |
| Amounts payable within one year | 42/48 | €166,121 | €154,864 | -€11,258 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €23,641 | €19,406 | -€4,234 | -17.9% |
| Financial debts | 43 | €72,812 | €4,108 | -€68,705 | -94.4% |
| Credit institutions | 430/8 | €7,826 | €4,108 | -€3,719 | -47.5% |
| Other loans | 439 | €64,986 | €0 | -€64,986 | -100.0% |
| Trade debts | 44 | €22,906 | €51,232 | +€28,327 | +123.7% |
| Suppliers | 440/4 | €22,906 | €51,232 | +€28,327 | +123.7% |
| Taxes, remuneration and social security | 45 | €41,867 | €32,587 | -€9,280 | -22.2% |
| Taxes | 450/3 | €19,315 | €32,587 | +€13,272 | +68.7% |
| Remuneration and social security | 454/9 | €22,551 | €0 | -€22,551 | -100.0% |
| Other amounts payable | 47/48 | €4,896 | €47,531 | +€42,635 | +870.8% |
| Remuneration, social security and pensions | 62 | €66,845 | €19,061 | -€47,785 | -71.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,616 | €26,269 | +€21,653 | +469.0% |
| Other operating charges | 640/8 | €7,151 | €1,842 | -€5,309 | -74.2% |
| Gross operating margin | 9900 | €96,788 | €128,860 | +€32,072 | +33.1% |
| Operating profit (loss) | 9901 | €18,175 | €81,689 | +€63,513 | +349.4% |
| Financial income | 75/76B | €2,724 | €24 | -€2,700 | -99.1% |
| Recurring financial income | 75 | €2,724 | €24 | -€2,700 | -99.1% |
| Financial charges | 65/66B | €12,881 | €13,240 | +€359 | +2.8% |
| Recurring financial charges | 65 | €12,881 | €13,240 | +€359 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €8,018 | €68,472 | +€60,454 | +754.0% |
| Income taxes | 67/77 | €1,078 | €21,980 | +€20,902 | +1939.7% |
| Profit (loss) for the period | 9904 | €6,940 | €46,492 | +€39,552 | +569.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,940 | €46,492 | +€39,552 | +569.9% |
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 4 October 2026 via checked.be.