Brandsplus: 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.
Brandsplus
Largest movements
- Receivables within one year +€702,945
up €702,945 (+113.4%), from €619,900 to €1.3m
of which Other amounts receivable: +€612,780
- Cash +€53,358
up €53,358 (+36.2%), from €147,408 to €200,767
mainly Short-term financial debts (+€500,000) and Net result for the year (+€154,270)
- Tangible fixed assets -€25,942
down €25,942 (-50.8%), from €51,026 to €25,084
of which Plant, machinery and equipment: -€24,044
- Short-term financial debts +€500,000
new in 2025: €500,000
- Reserves +€154,270
up €154,270 (+37.0%), from €417,203 to €571,473
of which Distributable reserves: +€154,270
- Other debts +€147,664
up €147,664, from €0 to €147,664
- Advances received -€54,340
down €54,340 (-65.6%), from €82,874 to €28,534
- Trade debts -€48,155
down €48,155 (-16.9%), from €285,772 to €237,617
- Gross operating margin -€338,582
down €338,582 (-58.3%), from €581,123 to €242,541
- Staff costs -€85,723
down €85,723 (-54.1%), from €158,409 to €72,685
- Financial income +€26,185
up €26,185 (+157.0%), from €16,676 to €42,861
- Financial charges -€22,496
down €22,496 (-43.4%), from €51,869 to €29,373
- Depreciation -€16,625
down €16,625 (-39.1%), from €42,567 to €25,942
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 | €875,031 | €1,574,623 | +€699,592 | +80.0% |
| Fixed assets | 21/28 | €63,526 | €25,084 | -€38,442 | -60.5% |
| Tangible fixed assets | 22/27 | €51,026 | €25,084 | -€25,942 | -50.8% |
| Plant, machinery and equipment | 23 | €41,265 | €17,220 | -€24,044 | -58.3% |
| Furniture and vehicles | 24 | €9,761 | €7,864 | -€1,897 | -19.4% |
| Financial fixed assets | 28 | €12,500 | €0 | -€12,500 | -100.0% |
| Current assets | 29/58 | €811,505 | €1,549,539 | +€738,034 | +90.9% |
| Stocks and contracts in progress | 3 | €13,602 | €2,500 | -€11,102 | -81.6% |
| Stocks | 30/36 | €13,602 | €2,500 | -€11,102 | -81.6% |
| Amounts receivable within one year | 40/41 | €619,900 | €1,322,844 | +€702,945 | +113.4% |
| Trade receivables | 40 | €50,792 | €140,957 | +€90,165 | +177.5% |
| Other amounts receivable | 41 | €569,107 | €1,181,887 | +€612,780 | +107.7% |
| Cash at bank and in hand | 54/58 | €147,408 | €200,767 | +€53,358 | +36.2% |
| Deferred charges and accrued income | 490/1 | €30,595 | €23,428 | -€7,167 | -23.4% |
| Total equity and liabilities | 10/49 | €875,031 | €1,574,623 | +€699,592 | +80.0% |
| Equity | 10/15 | €479,203 | €633,473 | +€154,270 | +32.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €417,203 | €571,473 | +€154,270 | +37.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €411,003 | €565,273 | +€154,270 | +37.5% |
| Amounts payable | 17/49 | €395,828 | €941,149 | +€545,322 | +137.8% |
| Amounts payable within one year | 42/48 | €395,090 | €938,435 | +€543,345 | +137.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €500,000 | +€500,000 | |
| Credit institutions | 430/8 | - | €500,000 | +€500,000 | |
| Trade debts | 44 | €285,772 | €237,617 | -€48,155 | -16.9% |
| Suppliers | 440/4 | €285,772 | €237,617 | -€48,155 | -16.9% |
| Advances received on contracts in progress | 46 | €82,874 | €28,534 | -€54,340 | -65.6% |
| Taxes, remuneration and social security | 45 | €26,445 | €24,621 | -€1,824 | -6.9% |
| Taxes | 450/3 | €10,347 | €10,358 | +€12 | +0.1% |
| Remuneration and social security | 454/9 | €16,098 | €14,263 | -€1,836 | -11.4% |
| Other amounts payable | 47/48 | €0 | €147,664 | +€147,664 | |
| Accrued charges and deferred income | 492/3 | €738 | €2,714 | +€1,977 | +268.0% |
| Remuneration, social security and pensions | 62 | €158,409 | €72,685 | -€85,723 | -54.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,567 | €25,942 | -€16,625 | -39.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,426 | €0 | -€8,426 | -100.0% |
| Other operating charges | 640/8 | €11,112 | €1,430 | -€9,682 | -87.1% |
| Non-recurring operating charges | 66A | - | €1,500 | +€1,500 | |
| Gross operating margin | 9900 | €581,123 | €242,541 | -€338,582 | -58.3% |
| Operating profit (loss) | 9901 | €360,610 | €140,984 | -€219,625 | -60.9% |
| Financial income | 75/76B | €16,676 | €42,861 | +€26,185 | +157.0% |
| Recurring financial income | 75 | €16,676 | €42,861 | +€26,185 | +157.0% |
| Financial charges | 65/66B | €51,869 | €29,373 | -€22,496 | -43.4% |
| Recurring financial charges | 65 | €51,869 | €29,373 | -€22,496 | -43.4% |
| Profit (loss) for the period before taxes | 9903 | €325,416 | €154,472 | -€170,945 | -52.5% |
| Income taxes | 67/77 | €207 | €201 | -€5 | -2.5% |
| Profit (loss) for the period | 9904 | €325,210 | €154,270 | -€170,940 | -52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €325,210 | €154,270 | -€170,940 | -52.6% |
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 6 October 2026 via checked.be.