BRANETH: 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.
BRANETH
Largest movements
- Tangible fixed assets -€253,175
down €253,175 (-95.2%), from €266,060 to €12,885
of which Land and buildings: -€258,495
- Cash +€219,425
up €219,425 (+867.8%), from €25,287 to €244,711
mainly Investment in fixed assets (net) (+€250,536) and Net result for the year (+€165,508)
- Receivables within one year +€8,409
up €8,409 (+233.1%), from €3,607 to €12,017
of which Trade receivables: +€8,455
- Reserves +€165,508
up €165,508 (+277.2%), from €59,713 to €225,221
of which Tax-exempt reserves: +€84,200
- Short-term financial debts -€119,835
no longer reported in 2025 (was €119,835)
- Other debts -€57,951
down €57,951 (-95.1%), from €60,934 to €2,983
- Trade debts -€19,188
down €19,188 (-93.8%), from €20,464 to €1,276
- Tax, wage and social debts +€4,025
up €4,025 (+25.0%), from €16,107 to €20,132
of which Taxes: +€17,234
- Gross operating margin +€190,174
up €190,174 (+171.2%), from €111,055 to €301,229
- Taxes +€61,247
up €61,247 (+1192.4%), from €5,136 to €66,384
- Staff costs -€18,072
down €18,072 (-28.0%), from €64,466 to €46,394
- Depreciation -€17,719
down €17,719 (-87.0%), from €20,358 to €2,639
- Financial charges +€12,797
up €12,797 (+196.7%), from €6,506 to €19,303
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 | €297,054 | €269,612 | -€27,442 | -9.2% |
| Fixed assets | 21/28 | €266,060 | €12,885 | -€253,175 | -95.2% |
| Tangible fixed assets | 22/27 | €266,060 | €12,885 | -€253,175 | -95.2% |
| Land and buildings | 22 | €258,495 | - | -€258,495 | |
| Plant, machinery and equipment | 23 | €4,735 | - | -€4,735 | |
| Furniture and vehicles | 24 | €2,829 | €273 | -€2,556 | -90.3% |
| Other tangible fixed assets | 26 | - | €12,612 | +€12,612 | |
| Current assets | 29/58 | €30,994 | €256,728 | +€225,733 | +728.3% |
| Stocks and contracts in progress | 3 | €1,816 | - | -€1,816 | |
| Stocks | 30/36 | €1,816 | - | -€1,816 | |
| Amounts receivable within one year | 40/41 | €3,607 | €12,017 | +€8,409 | +233.1% |
| Trade receivables | 40 | €2,739 | €11,194 | +€8,455 | +308.7% |
| Other amounts receivable | 41 | €868 | €823 | -€45 | -5.2% |
| Cash at bank and in hand | 54/58 | €25,287 | €244,711 | +€219,425 | +867.8% |
| Deferred charges and accrued income | 490/1 | €284 | - | -€284 | |
| Total equity and liabilities | 10/49 | €297,054 | €269,612 | -€27,442 | -9.2% |
| Equity | 10/15 | €79,713 | €245,221 | +€165,508 | +207.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €59,713 | €225,221 | +€165,508 | +277.2% |
| Tax-exempt reserves | 132 | - | €84,200 | +€84,200 | |
| Distributable reserves | 133 | €59,713 | €141,021 | +€81,308 | +136.2% |
| Amounts payable | 17/49 | €217,341 | €24,391 | -€192,950 | -88.8% |
| Amounts payable within one year | 42/48 | €217,341 | €24,391 | -€192,950 | -88.8% |
| Financial debts | 43 | €119,835 | - | -€119,835 | |
| Credit institutions | 430/8 | €119,835 | - | -€119,835 | |
| Trade debts | 44 | €20,464 | €1,276 | -€19,188 | -93.8% |
| Suppliers | 440/4 | €20,464 | €1,276 | -€19,188 | -93.8% |
| Taxes, remuneration and social security | 45 | €16,107 | €20,132 | +€4,025 | +25.0% |
| Taxes | 450/3 | €149 | €17,384 | +€17,234 | +11550.5% |
| Remuneration and social security | 454/9 | €15,958 | €2,748 | -€13,209 | -82.8% |
| Other amounts payable | 47/48 | €60,934 | €2,983 | -€57,951 | -95.1% |
| Non-recurring operating income | 76A | €569 | €245,583 | +€245,014 | +43087.7% |
| Remuneration, social security and pensions | 62 | €64,466 | €46,394 | -€18,072 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,358 | €2,639 | -€17,719 | -87.0% |
| Other operating charges | 640/8 | €1,306 | €1,002 | -€304 | -23.3% |
| Gross operating margin | 9900 | €111,055 | €301,229 | +€190,174 | +171.2% |
| Operating profit (loss) | 9901 | €24,925 | €251,193 | +€226,268 | +907.8% |
| Financial income | 75/76B | €28 | €2 | -€26 | -94.0% |
| Recurring financial income | 75 | €28 | €2 | -€26 | -94.0% |
| Financial charges | 65/66B | €6,506 | €19,303 | +€12,797 | +196.7% |
| Recurring financial charges | 65 | €6,506 | €19,303 | +€12,797 | +196.7% |
| Profit (loss) for the period before taxes | 9903 | €18,447 | €231,892 | +€213,445 | +1157.1% |
| Income taxes | 67/77 | €5,136 | €66,384 | +€61,247 | +1192.4% |
| Profit (loss) for the period | 9904 | €13,310 | €165,508 | +€152,198 | +1143.4% |
| Transfer to tax-exempt reserves | 689 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,310 | €81,308 | +€67,998 | +510.9% |
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 10 October 2026 via checked.be.