BRANDT: 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.
BRANDT
Largest movements
- Cash -€55,500
down €55,500 (-14.8%), from €374,085 to €318,585
mainly Advances received (-€134,890) and Contributions, distributions and other (-€105,760)
- Deferred charges and accrued income -€47,516
down €47,516 (-72.4%), from €65,669 to €18,153
- Stocks and contracts +€20,355
up €20,355 (+10.7%), from €190,632 to €210,987
- Reserves +€255,000
up €255,000 (+31.9%), from €800,000 to €1.1m
- Advances received -€134,890
down €134,890 (-37.3%), from €361,677 to €226,787
- Trade debts -€96,410
down €96,410 (-38.3%), from €251,972 to €155,562
- Debts after one year -€88,149
down €88,149 (-83.9%), from €105,069 to €16,921
- Other debts -€50,000
down €50,000 (-32.1%), from €155,760 to €105,760
- Gross operating margin +€228,609
up €228,609 (+18.7%), from €1.2m to €1.5m
- Write-downs +€82,164
up €82,164, from -€48,935 to €33,229
- Staff costs +€80,731
up €80,731 (+9.6%), from €837,195 to €917,926
- Financial income -€38,814
down €38,814 (-76.8%), from €50,543 to €11,729
- Taxes +€27,865
up €27,865 (+51.0%), from €54,642 to €82,508
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 | €1,796,383 | €1,683,332 | -€113,051 | -6.3% |
| Fixed assets | 21/28 | €773,669 | €761,163 | -€12,505 | -1.6% |
| Tangible fixed assets | 22/27 | €102,081 | €86,865 | -€15,216 | -14.9% |
| Plant, machinery and equipment | 23 | €13,721 | €8,475 | -€5,247 | -38.2% |
| Furniture and vehicles | 24 | €80,267 | €71,864 | -€8,403 | -10.5% |
| Other tangible fixed assets | 26 | €8,093 | €6,526 | -€1,567 | -19.4% |
| Financial fixed assets | 28 | €671,588 | €674,299 | +€2,711 | +0.4% |
| Current assets | 29/58 | €1,022,715 | €922,169 | -€100,546 | -9.8% |
| Stocks and contracts in progress | 3 | €190,632 | €210,987 | +€20,355 | +10.7% |
| Stocks | 30/36 | €190,632 | €210,987 | +€20,355 | +10.7% |
| Amounts receivable within one year | 40/41 | €392,329 | €374,444 | -€17,885 | -4.6% |
| Trade receivables | 40 | €348,207 | €335,689 | -€12,518 | -3.6% |
| Other amounts receivable | 41 | €44,122 | €38,754 | -€5,367 | -12.2% |
| Cash at bank and in hand | 54/58 | €374,085 | €318,585 | -€55,500 | -14.8% |
| Deferred charges and accrued income | 490/1 | €65,669 | €18,153 | -€47,516 | -72.4% |
| Total equity and liabilities | 10/49 | €1,796,383 | €1,683,332 | -€113,051 | -6.3% |
| Equity | 10/15 | €819,082 | €1,077,553 | +€258,471 | +31.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €800,000 | €1,055,000 | +€255,000 | +31.9% |
| Distributable reserves | 133 | €800,000 | €1,055,000 | +€255,000 | +31.9% |
| Profit (loss) carried forward | 14 | €490 | €3,961 | +€3,471 | +708.5% |
| Amounts payable | 17/49 | €977,301 | €605,779 | -€371,522 | -38.0% |
| Amounts payable after more than one year | 17 | €105,069 | €16,921 | -€88,149 | -83.9% |
| Financial debts | 170/4 | €105,069 | €16,921 | -€88,149 | -83.9% |
| Amounts payable within one year | 42/48 | €872,232 | €588,859 | -€283,374 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €87,009 | €88,149 | +€1,139 | +1.3% |
| Trade debts | 44 | €251,972 | €155,562 | -€96,410 | -38.3% |
| Suppliers | 440/4 | €251,972 | €155,562 | -€96,410 | -38.3% |
| Advances received on contracts in progress | 46 | €361,677 | €226,787 | -€134,890 | -37.3% |
| Taxes, remuneration and social security | 45 | €15,814 | €12,601 | -€3,213 | -20.3% |
| Taxes | 450/3 | €15,375 | €12,601 | -€2,774 | -18.0% |
| Remuneration and social security | 454/9 | €439 | €0 | -€439 | -100.0% |
| Other amounts payable | 47/48 | €155,760 | €105,760 | -€50,000 | -32.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Remuneration, social security and pensions | 62 | €837,195 | €917,926 | +€80,731 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,461 | €52,140 | +€22,678 | +77.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€48,935 | €33,229 | +€82,164 | |
| Other operating charges | 640/8 | €6,278 | €7,100 | +€822 | +13.1% |
| Non-recurring operating charges | 66A | €65,484 | €0 | -€65,484 | -100.0% |
| Gross operating margin | 9900 | €1,222,634 | €1,451,243 | +€228,609 | +18.7% |
| Operating profit (loss) | 9901 | €333,151 | €440,848 | +€107,697 | +32.3% |
| Financial income | 75/76B | €50,543 | €11,729 | -€38,814 | -76.8% |
| Recurring financial income | 75 | €50,543 | €11,729 | -€38,814 | -76.8% |
| Financial charges | 65/66B | €8,416 | €5,839 | -€2,577 | -30.6% |
| Recurring financial charges | 65 | €8,416 | €5,839 | -€2,577 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €375,279 | €446,739 | +€71,460 | +19.0% |
| Income taxes | 67/77 | €54,642 | €82,508 | +€27,865 | +51.0% |
| Profit (loss) for the period | 9904 | €320,636 | €364,231 | +€43,595 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €320,636 | €364,231 | +€43,595 | +13.6% |
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 11 October 2026 via checked.be.