BRANIMMO S.A.: 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.
What changed
BRANIMMO S.A.
NACE 68.122, Development of non-residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1,471
2024 · €28,244-€29,715
Equity
€320,244
2024 · €321,715-€1,471
Cash
€63,237
2024 · €31,211+€32,026
Balance sheet total
€1.5m
2024 · €1.5m+€4,007
Largest movements
Assets
- Cash +€32,026
up €32,026 (+103%), from €31,211 to €63,237
mainly Depreciation (+€84,440) and Trade debts (+€62,616)
- Receivables within one year -€16,740
down €16,740 (-9.8%), from €170,746 to €154,005
of which Trade receivables: -€24,193
Equity and liabilities
- Trade debts +€62,616
up €62,616 (+18.8%), from €333,932 to €396,548
- Current portion of long-term debt -€24,432
no longer reported in 2025 (was €24,432)
- Debts after one year -€19,290
down €19,290 (-16.4%), from €117,764 to €98,474
Income statement
- Gross operating margin -€39,032
down €39,032 (-22.3%), from €175,381 to €136,350
- Depreciation +€10,873
up €10,873 (+14.8%), from €73,567 to €84,440
- Other operating charges -€9,366
down €9,366 (-48.8%), from €19,188 to €9,823
- Write-downs -€7,789
no longer reported in 2025 (was €7,789)
- Taxes -€7,477
down €7,477 (-77.1%), from €9,701 to €2,224
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.
Result 2024
€28,244
Gross operating margin
-€39,032
Depreciation
-€10,873
Write-downs
+€7,789
Other operating charges
+€9,366
Other operating items
+€1,750
Financial charges
-€6,191
Taxes
+€7,477
Result 2025
-€1,471
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€141,321
Investment
-€71,199
Financing
-€38,096
Cash 2024
€31,211
From operations (derived)
+€141,321
Net result for the year
-€1,471
Depreciation
+€84,440
Receivables within one year
+€16,740
Deferred charges and accrued income
-€1,963
Provisions
-€6,648
Trade debts
+€62,616
Tax, wage and social debts
-€13,697
Other debts
+€247
Accrued charges and deferred income
+€1,056
Investment (derived)
-€71,199
Investment in fixed assets (net)
-€71,199
Financing
-€38,096
Debts after one year
-€19,290
Current portion of long-term debt
-€24,432
Short-term financial debts
+€5,627
Cash 2025
€63,237
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,474,107 | €1,478,114 | +€4,007 | +0.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,264,488 | €1,251,246 | -€13,242 | -1.0% |
| Tangible fixed assets | 22/27 | €1,264,438 | €1,251,196 | -€13,242 | -1.0% |
| Land and buildings | 22 | €1,261,096 | €1,249,281 | -€11,815 | -0.9% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €3,342 | €1,915 | -€1,426 | -42.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €209,619 | €226,868 | +€17,249 | +8.2% |
| Amounts receivable within one year | 40/41 | €170,746 | €154,005 | -€16,740 | -9.8% |
| Trade receivables | 40 | €159,935 | €135,742 | -€24,193 | -15.1% |
| Other amounts receivable | 41 | €10,811 | €18,263 | +€7,452 | +68.9% |
| Cash at bank and in hand | 54/58 | €31,211 | €63,237 | +€32,026 | +103% |
| Deferred charges and accrued income | 490/1 | €7,662 | €9,625 | +€1,963 | +25.6% |
| Total equity and liabilities | 10/49 | €1,474,107 | €1,478,114 | +€4,007 | +0.3% |
| Equity | 10/15 | €321,715 | €320,244 | -€1,471 | -0.5% |
| 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 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | - | -€6,200 | |
| Reserves not available under the articles | 1311 | - | €6,200 | +€6,200 | |
| Profit (loss) carried forward | 14 | €253,515 | €252,044 | -€1,471 | -0.6% |
| Provisions and deferred taxes | 16 | €93,442 | €86,794 | -€6,648 | -7.1% |
| Provisions for liabilities and charges | 160/5 | €93,442 | €86,794 | -€6,648 | -7.1% |
| Environmental obligations | 163 | - | €86,794 | +€86,794 | |
| Other liabilities and charges | 164/5 | €93,442 | - | -€93,442 | |
| Amounts payable | 17/49 | €1,058,950 | €1,071,076 | +€12,126 | +1.1% |
| Amounts payable after more than one year | 17 | €117,764 | €98,474 | -€19,290 | -16.4% |
| Financial debts | 170/4 | €117,764 | €98,474 | -€19,290 | -16.4% |
| Amounts payable within one year | 42/48 | €923,607 | €953,968 | +€30,360 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €24,432 | - | -€24,432 | |
| Financial debts | 43 | €365,847 | €371,473 | +€5,627 | +1.5% |
| Credit institutions | 430/8 | €365,847 | €371,473 | +€5,627 | +1.5% |
| Trade debts | 44 | €333,932 | €396,548 | +€62,616 | +18.8% |
| Suppliers | 440/4 | €333,932 | €396,548 | +€62,616 | +18.8% |
| Taxes, remuneration and social security | 45 | €14,921 | €1,224 | -€13,697 | -91.8% |
| Taxes | 450/3 | €14,921 | €1,224 | -€13,697 | -91.8% |
| Other amounts payable | 47/48 | €184,476 | €184,722 | +€247 | +0.1% |
| Accrued charges and deferred income | 492/3 | €17,578 | €18,634 | +€1,056 | +6.0% |
| Non-recurring operating income | 76A | - | €8,978 | +€8,978 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,567 | €84,440 | +€10,873 | +14.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,789 | - | -€7,789 | |
| Other operating charges | 640/8 | €19,188 | €9,823 | -€9,366 | -48.8% |
| Non-recurring operating charges | 66A | €1,750 | - | -€1,750 | |
| Gross operating margin | 9900 | €175,381 | €136,350 | -€39,032 | -22.3% |
| Operating profit (loss) | 9901 | €73,087 | €42,087 | -€31,000 | -42.4% |
| Financial charges | 65/66B | €35,142 | €41,334 | +€6,191 | +17.6% |
| Recurring financial charges | 65 | €35,142 | €41,334 | +€6,191 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €37,945 | €753 | -€37,192 | -98.0% |
| Income taxes | 67/77 | €9,701 | €2,224 | -€7,477 | -77.1% |
| Profit (loss) for the period | 9904 | €28,244 | -€1,471 | -€29,715 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,244 | -€1,471 | -€29,715 |
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 18 October 2026 via checked.be.