Brands 2C: 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.
Brands 2C
Largest movements
- Receivables within one year -€205,592
down €205,592 (-42.7%), from €481,231 to €275,639
of which Trade receivables: -€331,029
- Stocks and contracts +€67,556
up €67,556 (+30.3%), from €222,853 to €290,409
- Cash -€10,427
down €10,427 (-36.7%), from €28,399 to €17,972
mainly Trade debts (-€178,038) and Stocks and contracts (-€67,556)
- Trade debts -€178,038
down €178,038 (-33.3%), from €533,986 to €355,948
- Short-term financial debts +€60,000
new in 2025: €60,000
- Reserves -€57,198
down €57,198 (-43.4%), from €131,687 to €74,488
- Current portion of long-term debt +€13,470
up €13,470 (+147%), from €9,162 to €22,633
- Debts after one year +€8,892
up €8,892 (+50.4%), from €17,642 to €26,533
- Staff costs +€95,338
up €95,338 (+163%), from €58,659 to €153,998
- Taxes -€15,623
down €15,623 (-99.0%), from €15,777 to €155
- Gross operating margin -€9,518
down €9,518 (-7.8%), from €121,958 to €112,439
- Financial charges +€3,124
up €3,124 (+53.7%), from €5,818 to €8,942
- Depreciation +€2,817
up €2,817 (+99.1%), from €2,843 to €5,660
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 | €759,023 | €605,187 | -€153,837 | -20.3% |
| Fixed assets | 21/28 | €26,540 | €20,880 | -€5,660 | -21.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €26,315 | €20,655 | -€5,660 | -21.5% |
| Furniture and vehicles | 24 | €26,315 | €20,655 | -€5,660 | -21.5% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €732,483 | €584,307 | -€148,177 | -20.2% |
| Stocks and contracts in progress | 3 | €222,853 | €290,409 | +€67,556 | +30.3% |
| Stocks | 30/36 | €222,853 | €290,409 | +€67,556 | +30.3% |
| Amounts receivable within one year | 40/41 | €481,231 | €275,639 | -€205,592 | -42.7% |
| Trade receivables | 40 | €379,311 | €48,282 | -€331,029 | -87.3% |
| Other amounts receivable | 41 | €101,920 | €227,357 | +€125,437 | +123% |
| Cash at bank and in hand | 54/58 | €28,399 | €17,972 | -€10,427 | -36.7% |
| Deferred charges and accrued income | 490/1 | €0 | €286 | +€286 | |
| Total equity and liabilities | 10/49 | €759,023 | €605,187 | -€153,837 | -20.3% |
| Equity | 10/15 | €131,688 | €74,489 | -€57,198 | -43.4% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €131,687 | €74,488 | -€57,198 | -43.4% |
| Distributable reserves | 133 | €131,687 | €74,488 | -€57,198 | -43.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €627,336 | €530,697 | -€96,638 | -15.4% |
| Amounts payable after more than one year | 17 | €17,642 | €26,533 | +€8,892 | +50.4% |
| Financial debts | 170/4 | €17,642 | €26,533 | +€8,892 | +50.4% |
| Amounts payable within one year | 42/48 | €609,694 | €504,164 | -€105,530 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €9,162 | €22,633 | +€13,470 | +147% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €533,986 | €355,948 | -€178,038 | -33.3% |
| Suppliers | 440/4 | €533,986 | €355,948 | -€178,038 | -33.3% |
| Taxes, remuneration and social security | 45 | €56,144 | €55,181 | -€963 | -1.7% |
| Taxes | 450/3 | €42,547 | €45,627 | +€3,080 | +7.2% |
| Remuneration and social security | 454/9 | €13,597 | €9,555 | -€4,043 | -29.7% |
| Other amounts payable | 47/48 | €10,402 | €10,402 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €58,659 | €153,998 | +€95,338 | +163% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,843 | €5,660 | +€2,817 | +99.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €118 | €916 | +€798 | +676% |
| Gross operating margin | 9900 | €121,958 | €112,439 | -€9,518 | -7.8% |
| Operating profit (loss) | 9901 | €60,337 | -€48,134 | -€108,471 | |
| Financial income | 75/76B | €20 | €33 | +€13 | +62.4% |
| Recurring financial income | 75 | €20 | €33 | +€13 | +62.4% |
| Financial charges | 65/66B | €5,818 | €8,942 | +€3,124 | +53.7% |
| Recurring financial charges | 65 | €5,818 | €8,942 | +€3,124 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | €54,540 | -€57,043 | -€111,583 | |
| Income taxes | 67/77 | €15,777 | €155 | -€15,623 | -99.0% |
| Profit (loss) for the period | 9904 | €38,763 | -€57,198 | -€95,961 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,763 | -€57,198 | -€95,961 |
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 16 October 2026 via checked.be.