BRANKAER: 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.
BRANKAER
Largest movements
- Cash -€252,613
down €252,613 (-58.8%), from €429,789 to €177,175
mainly Investment in fixed assets (net) (-€351,828) and Other debts (-€275,600)
- Tangible fixed assets +€139,344
up €139,344 (+30.1%), from €462,471 to €601,815
of which Plant, machinery and equipment: +€139,854
- Receivables within one year +€81,356
up €81,356 (+8.1%), from €1.0m to €1.1m
of which Trade receivables: +€78,272
- Other debts -€275,600
down €275,600 (-64.8%), from €425,600 to €150,000
- Debts after one year +€183,144
up €183,144 (+148.4%), from €123,438 to €306,583
- Current portion of long-term debt +€47,067
up €47,067 (+73.5%), from €64,019 to €111,085
- Staff costs +€189,570
up €189,570 (+14.4%), from €1.3m to €1.5m
- Gross operating margin +€114,818
up €114,818 (+6.4%), from €1.8m to €1.9m
- Financial income +€38,123
up €38,123 (+17665.3%), from €216 to €38,339
of which Non-recurring financial income: +€38,339
- Depreciation +€26,710
up €26,710 (+14.2%), from €187,706 to €214,416
- Taxes -€23,430
down €23,430 (-32.4%), from €72,290 to €48,860
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 | €1,937,401 | €1,902,250 | -€35,151 | -1.8% |
| Fixed assets | 21/28 | €467,793 | €605,205 | +€137,412 | +29.4% |
| Intangible fixed assets | 21 | €4,523 | €2,592 | -€1,932 | -42.7% |
| Tangible fixed assets | 22/27 | €462,471 | €601,815 | +€139,344 | +30.1% |
| Plant, machinery and equipment | 23 | €119,721 | €259,575 | +€139,854 | +116.8% |
| Furniture and vehicles | 24 | €342,749 | €342,240 | -€510 | -0.1% |
| Financial fixed assets | 28 | €799 | €799 | = | 0.0% |
| Current assets | 29/58 | €1,469,608 | €1,297,045 | -€172,563 | -11.7% |
| Amounts receivable within one year | 40/41 | €1,008,601 | €1,089,957 | +€81,356 | +8.1% |
| Trade receivables | 40 | €974,050 | €1,052,322 | +€78,272 | +8.0% |
| Other amounts receivable | 41 | €34,551 | €37,635 | +€3,084 | +8.9% |
| Current investments | 50/53 | €25,828 | €25,936 | +€108 | +0.4% |
| Cash at bank and in hand | 54/58 | €429,789 | €177,175 | -€252,613 | -58.8% |
| Deferred charges and accrued income | 490/1 | €5,391 | €3,977 | -€1,414 | -26.2% |
| Total equity and liabilities | 10/49 | €1,937,401 | €1,902,250 | -€35,151 | -1.8% |
| Equity | 10/15 | €876,354 | €876,894 | +€540 | +0.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €625,000 | €625,000 | = | 0.0% |
| Distributable reserves | 133 | €625,000 | €625,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,354 | €1,894 | +€540 | +39.9% |
| Amounts payable | 17/49 | €1,061,047 | €1,025,357 | -€35,691 | -3.4% |
| Amounts payable after more than one year | 17 | €123,438 | €306,583 | +€183,144 | +148.4% |
| Financial debts | 170/4 | €123,438 | €306,583 | +€183,144 | +148.4% |
| Amounts payable within one year | 42/48 | €937,609 | €718,774 | -€218,835 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €64,019 | €111,085 | +€47,067 | +73.5% |
| Trade debts | 44 | €350,398 | €359,695 | +€9,297 | +2.7% |
| Suppliers | 440/4 | €350,398 | €359,695 | +€9,297 | +2.7% |
| Taxes, remuneration and social security | 45 | €97,592 | €97,993 | +€401 | +0.4% |
| Taxes | 450/3 | €8,585 | €0 | -€8,585 | -100.0% |
| Remuneration and social security | 454/9 | €89,007 | €97,993 | +€8,986 | +10.1% |
| Other amounts payable | 47/48 | €425,600 | €150,000 | -€275,600 | -64.8% |
| Non-recurring operating income | 76A | €12,847 | €6,587 | -€6,261 | -48.7% |
| Remuneration, social security and pensions | 62 | €1,320,169 | €1,509,739 | +€189,570 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187,706 | €214,416 | +€26,710 | +14.2% |
| Other operating charges | 640/8 | €4,756 | €6,916 | +€2,160 | +45.4% |
| Gross operating margin | 9900 | €1,794,630 | €1,909,447 | +€114,818 | +6.4% |
| Operating profit (loss) | 9901 | €281,999 | €178,378 | -€103,622 | -36.7% |
| Financial income | 75/76B | €216 | €38,339 | +€38,123 | +17665.3% |
| Recurring financial income | 75 | €216 | €0 | -€216 | -99.9% |
| Non-recurring financial income | 76B | - | €38,339 | +€38,339 | |
| Financial charges | 65/66B | €11,993 | €17,317 | +€5,324 | +44.4% |
| Recurring financial charges | 65 | €11,993 | €17,317 | +€5,324 | +44.4% |
| Profit (loss) for the period before taxes | 9903 | €270,223 | €199,400 | -€70,823 | -26.2% |
| Income taxes | 67/77 | €72,290 | €48,860 | -€23,430 | -32.4% |
| Profit (loss) for the period | 9904 | €197,933 | €150,540 | -€47,392 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €197,933 | €150,540 | -€47,392 | -23.9% |
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 30 September 2026 via checked.be.