BRANDS TRADE: 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 TRADE
Largest movements
- Receivables within one year +€36,929
up €36,929, from €0 to €36,929
- Tangible fixed assets -€30,957
down €30,957 (-4.2%), from €739,191 to €708,234
of which Land and buildings: -€26,979
- Debts after one year -€77,175
down €77,175 (-25.6%), from €302,044 to €224,868
- Trade debts +€31,784
up €31,784 (+708%), from €4,489 to €36,273
- Other debts +€20,912
up €20,912 (+17.0%), from €123,055 to €143,967
- Profit (loss) carried forward +€20,137
up €20,137 (+15.6%), from €128,996 to €149,133
- Depreciation -€2,661
down €2,661 (-7.9%), from €33,618 to €30,957
- Gross operating margin -€2,101
down €2,101 (-1.5%), from €139,800 to €137,699
- Staff costs +€1,868
up €1,868 (+3.2%), from €57,765 to €59,634
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 | €752,858 | €757,548 | +€4,690 | +0.6% |
| Fixed assets | 21/28 | €739,191 | €708,234 | -€30,957 | -4.2% |
| Tangible fixed assets | 22/27 | €739,191 | €708,234 | -€30,957 | -4.2% |
| Land and buildings | 22 | €720,157 | €693,179 | -€26,979 | -3.7% |
| Furniture and vehicles | 24 | €19,034 | €15,056 | -€3,979 | -20.9% |
| Current assets | 29/58 | €13,667 | €49,314 | +€35,647 | +261% |
| Amounts receivable within one year | 40/41 | €0 | €36,929 | +€36,929 | |
| Trade receivables | 40 | €0 | €36,929 | +€36,929 | |
| Cash at bank and in hand | 54/58 | €11,848 | €10,499 | -€1,349 | -11.4% |
| Deferred charges and accrued income | 490/1 | €1,819 | €1,886 | +€67 | +3.7% |
| Total equity and liabilities | 10/49 | €752,858 | €757,548 | +€4,690 | +0.6% |
| Equity | 10/15 | €191,496 | €216,783 | +€25,287 | +13.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,000 | €6,150 | +€5,150 | +515% |
| Non-distributable reserves | 130/1 | €1,000 | €6,150 | +€5,150 | +515% |
| Legal reserve | 130 | €1,000 | €6,150 | +€5,150 | +515% |
| Profit (loss) carried forward | 14 | €128,996 | €149,133 | +€20,137 | +15.6% |
| Provisions and deferred taxes | 16 | €33,503 | €30,457 | -€3,046 | -9.1% |
| Deferred taxes | 168 | €33,503 | €30,457 | -€3,046 | -9.1% |
| Amounts payable | 17/49 | €527,860 | €510,309 | -€17,551 | -3.3% |
| Amounts payable after more than one year | 17 | €302,044 | €224,868 | -€77,175 | -25.6% |
| Financial debts | 170/4 | €302,044 | €224,868 | -€77,175 | -25.6% |
| Amounts payable within one year | 42/48 | €225,816 | €285,440 | +€59,624 | +26.4% |
| Current portion of amounts payable after more than one year | 42 | €76,312 | €77,175 | +€863 | +1.1% |
| Trade debts | 44 | €4,489 | €36,273 | +€31,784 | +708% |
| Suppliers | 440/4 | €4,489 | €36,273 | +€31,784 | +708% |
| Taxes, remuneration and social security | 45 | €21,960 | €28,025 | +€6,064 | +27.6% |
| Taxes | 450/3 | €9,898 | €13,832 | +€3,933 | +39.7% |
| Remuneration and social security | 454/9 | €12,062 | €14,193 | +€2,131 | +17.7% |
| Other amounts payable | 47/48 | €123,055 | €143,967 | +€20,912 | +17.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €57,765 | €59,634 | +€1,868 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,618 | €30,957 | -€2,661 | -7.9% |
| Other operating charges | 640/8 | €5,232 | €5,107 | -€124 | -2.4% |
| Gross operating margin | 9900 | €139,800 | €137,699 | -€2,101 | -1.5% |
| Operating profit (loss) | 9901 | €43,185 | €42,000 | -€1,185 | -2.7% |
| Financial charges | 65/66B | €7,962 | €7,995 | +€33 | +0.4% |
| Recurring financial charges | 65 | €7,962 | €7,995 | +€33 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €35,223 | €34,006 | -€1,218 | -3.5% |
| Transfer from deferred taxes | 780 | €3,046 | €3,046 | = | 0.0% |
| Income taxes | 67/77 | €12,091 | €11,764 | -€327 | -2.7% |
| Profit (loss) for the period | 9904 | €26,178 | €25,287 | -€891 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,178 | €25,287 | -€891 | -3.4% |
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 29 October 2026 via checked.be.