BRANDY: 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.
BRANDY
Largest movements
- Receivables within one year +€536,309
up €536,309 (+56.5%), from €950,056 to €1.5m
of which Other amounts receivable: +€464,783
- Tangible fixed assets -€22,727
down €22,727 (-25.5%), from €89,122 to €66,395
of which Furniture and vehicles: -€22,670
- Intangible fixed assets +€20,975
up €20,975 (+116.1%), from €18,074 to €39,049
- Provisions +€230,000
new in 2025: €230,000
- Trade debts +€206,402
up €206,402 (+256.9%), from €80,338 to €286,741
- Other debts +€100,646
up €100,646 (+20.1%), from €500,000 to €600,646
- Gross operating margin +€363,245
up €363,245 (+31.8%), from €1.1m to €1.5m
- Provisions +€230,000
new in 2025: €230,000
- Taxes +€27,259
up €27,259 (+15.7%), from €173,524 to €200,783
- Staff costs +€16,584
up €16,584 (+3.8%), from €438,428 to €455,013
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 | €1,076,266 | €1,607,465 | +€531,199 | +49.4% |
| Fixed assets | 21/28 | €107,371 | €105,619 | -€1,752 | -1.6% |
| Intangible fixed assets | 21 | €18,074 | €39,049 | +€20,975 | +116.1% |
| Tangible fixed assets | 22/27 | €89,122 | €66,395 | -€22,727 | -25.5% |
| Land and buildings | 22 | €142 | €85 | -€57 | -40.0% |
| Furniture and vehicles | 24 | €88,980 | €66,310 | -€22,670 | -25.5% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €968,895 | €1,501,846 | +€532,950 | +55.0% |
| Amounts receivable within one year | 40/41 | €950,056 | €1,486,365 | +€536,309 | +56.5% |
| Trade receivables | 40 | €167,869 | €239,394 | +€71,526 | +42.6% |
| Other amounts receivable | 41 | €782,188 | €1,246,971 | +€464,783 | +59.4% |
| Current investments | 50/53 | €124 | €124 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,013 | €1,159 | +€145 | +14.3% |
| Deferred charges and accrued income | 490/1 | €17,702 | €14,198 | -€3,504 | -19.8% |
| Total equity and liabilities | 10/49 | €1,076,266 | €1,607,465 | +€531,199 | +49.4% |
| Equity | 10/15 | €419,231 | €409,665 | -€9,566 | -2.3% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Reserves | 13 | €391,231 | €381,665 | -€9,566 | -2.4% |
| Distributable reserves | 133 | €391,231 | €381,665 | -€9,566 | -2.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €230,000 | +€230,000 | |
| Provisions for liabilities and charges | 160/5 | - | €230,000 | +€230,000 | |
| Other liabilities and charges | 164/5 | - | €230,000 | +€230,000 | |
| Amounts payable | 17/49 | €657,036 | €967,800 | +€310,765 | +47.3% |
| Amounts payable within one year | 42/48 | €657,036 | €967,800 | +€310,765 | +47.3% |
| Financial debts | 43 | - | €1,068 | +€1,068 | |
| Credit institutions | 430/8 | - | €1,068 | +€1,068 | |
| Trade debts | 44 | €80,338 | €286,741 | +€206,402 | +256.9% |
| Suppliers | 440/4 | €80,338 | €286,741 | +€206,402 | +256.9% |
| Taxes, remuneration and social security | 45 | €76,697 | €79,346 | +€2,648 | +3.5% |
| Taxes | 450/3 | €17,579 | €17,597 | +€18 | +0.1% |
| Remuneration and social security | 454/9 | €59,118 | €61,748 | +€2,630 | +4.4% |
| Other amounts payable | 47/48 | €500,000 | €600,646 | +€100,646 | +20.1% |
| Remuneration, social security and pensions | 62 | €438,428 | €455,013 | +€16,584 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,276 | €35,504 | +€4,228 | +13.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €230,000 | +€230,000 | |
| Other operating charges | 640/8 | €8,115 | €9,016 | +€901 | +11.1% |
| Gross operating margin | 9900 | €1,143,593 | €1,506,838 | +€363,245 | +31.8% |
| Operating profit (loss) | 9901 | €665,774 | €777,306 | +€111,532 | +16.8% |
| Financial income | 75/76B | €24,413 | €22,198 | -€2,214 | -9.1% |
| Recurring financial income | 75 | €24,413 | €22,198 | -€2,214 | -9.1% |
| Financial charges | 65/66B | €7,286 | €8,287 | +€1,001 | +13.7% |
| Recurring financial charges | 65 | €7,286 | €8,287 | +€1,001 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €682,901 | €791,217 | +€108,316 | +15.9% |
| Income taxes | 67/77 | €173,524 | €200,783 | +€27,259 | +15.7% |
| Profit (loss) for the period | 9904 | €509,377 | €590,434 | +€81,057 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €509,377 | €590,434 | +€81,057 | +15.9% |
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.