BRANDPOINT: 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.
BRANDPOINT
Largest movements
- Tangible fixed assets +€287,664
up €287,664 (+1178.3%), from €24,413 to €312,077
of which Land and buildings: +€264,000
- Cash -€63,996
down €63,996 (-91.6%), from €69,854 to €5,858
mainly Investment in fixed assets (net) (-€303,700) and Receivables within one year (-€22,100)
- Receivables within one year +€22,100
up €22,100 (+80.0%), from €27,620 to €49,721
of which Trade receivables: +€12,505
- Debts after one year +€241,239
up €241,239 (+1171.4%), from €20,594 to €261,833
of which Financial debts: +€175,927
- Current portion of long-term debt +€12,678
new in 2025: €12,678
- Profit (loss) carried forward -€8,283
new in 2025: -€8,283
- Tax, wage and social debts -€4,344
down €4,344 (-83.7%), from €5,191 to €847
- Gross operating margin -€31,569
down €31,569 (-61.0%), from €51,744 to €20,175
- Taxes -€10,348
down €10,348 (-98.7%), from €10,489 to €141
- Depreciation +€6,946
up €6,946 (+76.4%), from €9,091 to €16,036
- Financial charges +€6,330
up €6,330 (+296.2%), from €2,137 to €8,466
- Other operating charges +€2,946
up €2,946 (+339.0%), from €869 to €3,815
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 | €125,663 | €368,927 | +€243,264 | +193.6% |
| Fixed assets | 21/28 | €24,413 | €312,077 | +€287,664 | +1178.3% |
| Tangible fixed assets | 22/27 | €24,413 | €312,077 | +€287,664 | +1178.3% |
| Land and buildings | 22 | - | €264,000 | +€264,000 | |
| Plant, machinery and equipment | 23 | €1,948 | €468 | -€1,480 | -76.0% |
| Furniture and vehicles | 24 | €22,465 | €47,609 | +€25,144 | +111.9% |
| Current assets | 29/58 | €101,250 | €56,850 | -€44,399 | -43.9% |
| Stocks and contracts in progress | 3 | €445 | €550 | +€105 | +23.6% |
| Stocks | 30/36 | €445 | €550 | +€105 | +23.6% |
| Amounts receivable within one year | 40/41 | €27,620 | €49,721 | +€22,100 | +80.0% |
| Trade receivables | 40 | €27,216 | €39,721 | +€12,505 | +45.9% |
| Other amounts receivable | 41 | €405 | €10,000 | +€9,595 | +2372.0% |
| Cash at bank and in hand | 54/58 | €69,854 | €5,858 | -€63,996 | -91.6% |
| Deferred charges and accrued income | 490/1 | €3,330 | €721 | -€2,609 | -78.3% |
| Total equity and liabilities | 10/49 | €125,663 | €368,927 | +€243,264 | +193.6% |
| Equity | 10/15 | €97,120 | €88,836 | -€8,283 | -8.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €94,620 | €94,620 | = | 0.0% |
| Distributable reserves | 133 | €94,620 | €94,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€8,283 | -€8,283 | |
| Amounts payable | 17/49 | €28,543 | €280,091 | +€251,548 | +881.3% |
| Amounts payable after more than one year | 17 | €20,594 | €261,833 | +€241,239 | +1171.4% |
| Financial debts | 170/4 | - | €175,927 | +€175,927 | |
| Other amounts payable | 178/9 | €20,594 | €85,906 | +€65,312 | +317.1% |
| Amounts payable within one year | 42/48 | €7,558 | €17,307 | +€9,749 | +129.0% |
| Current portion of amounts payable after more than one year | 42 | - | €12,678 | +€12,678 | |
| Trade debts | 44 | €2,368 | €3,080 | +€712 | +30.1% |
| Suppliers | 440/4 | €2,368 | €3,080 | +€712 | +30.1% |
| Taxes, remuneration and social security | 45 | €5,191 | €847 | -€4,344 | -83.7% |
| Taxes | 450/3 | €5,191 | €847 | -€4,344 | -83.7% |
| Other amounts payable | 47/48 | - | €703 | +€703 | |
| Accrued charges and deferred income | 492/3 | €391 | €951 | +€560 | +143.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,091 | €16,036 | +€6,946 | +76.4% |
| Other operating charges | 640/8 | €869 | €3,815 | +€2,946 | +339.0% |
| Gross operating margin | 9900 | €51,744 | €20,175 | -€31,569 | -61.0% |
| Operating profit (loss) | 9901 | €41,785 | €324 | -€41,461 | -99.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -93.8% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -93.8% |
| Financial charges | 65/66B | €2,137 | €8,466 | +€6,330 | +296.2% |
| Recurring financial charges | 65 | €2,137 | €8,466 | +€6,330 | +296.2% |
| Profit (loss) for the period before taxes | 9903 | €39,648 | -€8,143 | -€47,791 | |
| Income taxes | 67/77 | €10,489 | €141 | -€10,348 | -98.7% |
| Profit (loss) for the period | 9904 | €29,159 | -€8,283 | -€37,442 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,159 | -€8,283 | -€37,442 |
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 5 October 2026 via checked.be.