Brand & Vogel: 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.
Brand & Vogel
Largest movements
- Cash +€11,373
up €11,373 (+33.9%), from €33,536 to €44,909
mainly Net result for the year (+€19,756) and Depreciation (+€1,560)
- Reserves +€19,757
up €19,757 (+56.6%), from €34,897 to €54,654
- Tax, wage and social debts -€8,637
down €8,637 (-56.5%), from €15,300 to €6,663
of which Taxes: -€9,709
- Gross operating margin -€20,243
down €20,243 (-41.7%), from €48,522 to €28,279
- Taxes -€4,401
down €4,401 (-44.0%), from €9,992 to €5,591
- Depreciation +€661
up €661 (+73.5%), from €899 to €1,560
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 | €59,732 | €70,445 | +€10,713 | +17.9% |
| Fixed assets | 21/28 | €2,978 | €2,479 | -€499 | -16.8% |
| Tangible fixed assets | 22/27 | €2,978 | €2,479 | -€499 | -16.8% |
| Furniture and vehicles | 24 | €2,978 | €2,479 | -€499 | -16.8% |
| Current assets | 29/58 | €56,754 | €67,966 | +€11,212 | +19.8% |
| Amounts receivable within one year | 40/41 | €22,098 | €21,536 | -€562 | -2.5% |
| Trade receivables | 40 | €22,098 | €21,000 | -€1,098 | -5.0% |
| Other amounts receivable | 41 | - | €536 | +€536 | |
| Cash at bank and in hand | 54/58 | €33,536 | €44,909 | +€11,373 | +33.9% |
| Deferred charges and accrued income | 490/1 | €1,120 | €1,521 | +€401 | +35.8% |
| Total equity and liabilities | 10/49 | €59,732 | €70,445 | +€10,713 | +17.9% |
| Equity | 10/15 | €37,897 | €57,654 | +€19,757 | +52.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €34,897 | €54,654 | +€19,757 | +56.6% |
| Distributable reserves | 133 | €34,897 | €54,654 | +€19,757 | +56.6% |
| Amounts payable | 17/49 | €21,835 | €12,791 | -€9,044 | -41.4% |
| Amounts payable within one year | 42/48 | €21,835 | €12,791 | -€9,044 | -41.4% |
| Trade debts | 44 | €2,420 | €2,144 | -€276 | -11.4% |
| Suppliers | 440/4 | €2,420 | €2,144 | -€276 | -11.4% |
| Taxes, remuneration and social security | 45 | €15,300 | €6,663 | -€8,637 | -56.5% |
| Taxes | 450/3 | €15,300 | €5,591 | -€9,709 | -63.5% |
| Remuneration and social security | 454/9 | - | €1,072 | +€1,072 | |
| Other amounts payable | 47/48 | €4,115 | €3,984 | -€131 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €899 | €1,560 | +€661 | +73.5% |
| Other operating charges | 640/8 | €638 | €290 | -€348 | -54.5% |
| Gross operating margin | 9900 | €48,522 | €28,279 | -€20,243 | -41.7% |
| Operating profit (loss) | 9901 | €46,985 | €26,429 | -€20,556 | -43.8% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €1,336 | €1,082 | -€254 | -19.0% |
| Recurring financial charges | 65 | €1,336 | €1,082 | -€254 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €45,653 | €25,347 | -€20,306 | -44.5% |
| Income taxes | 67/77 | €9,992 | €5,591 | -€4,401 | -44.0% |
| Profit (loss) for the period | 9904 | €35,661 | €19,756 | -€15,905 | -44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,661 | €19,756 | -€15,905 | -44.6% |
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 24 October 2026 via checked.be.