BRARENO: 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.
BRARENO
Largest movements
- Current investments +€35,000
new in 2025: €35,000
- Cash +€28,689
up €28,689 (+87.0%), from €32,960 to €61,649
mainly Net result for the year (+€36,038) and Other debts (+€25,677)
- Tangible fixed assets +€16,411
up €16,411 (+1,274%), from €1,289 to €17,699
of which Other tangible fixed assets: +€12,379
- Receivables within one year -€2,783
down €2,783 (-9.8%), from €28,410 to €25,627
- Reserves +€36,038
up €36,038 (+107%), from €33,596 to €69,634
- Other debts +€25,677
up €25,677 (+1,229%), from €2,089 to €27,766
- Tax, wage and social debts +€13,053
up €13,053 (+63.1%), from €20,687 to €33,741
- Gross operating margin +€5,692
up €5,692 (+11.8%), from €48,168 to €53,861
- Depreciation +€1,701
up €1,701 (+799%), from €213 to €1,914
- Taxes +€1,057
up €1,057 (+8.0%), from €13,152 to €14,209
- Financial charges +€1,040
up €1,040 (+205%), from €507 to €1,546
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,562 | €140,920 | +€77,359 | +122% |
| Fixed assets | 21/28 | €1,289 | €17,699 | +€16,411 | +1,274% |
| Tangible fixed assets | 22/27 | €1,289 | €17,699 | +€16,411 | +1,274% |
| Furniture and vehicles | 24 | €1,289 | €5,320 | +€4,031 | +313% |
| Other tangible fixed assets | 26 | - | €12,379 | +€12,379 | |
| Current assets | 29/58 | €62,273 | €123,221 | +€60,948 | +97.9% |
| Amounts receivable within one year | 40/41 | €28,410 | €25,627 | -€2,783 | -9.8% |
| Trade receivables | 40 | €28,410 | €25,627 | -€2,783 | -9.8% |
| Current investments | 50/53 | - | €35,000 | +€35,000 | |
| Cash at bank and in hand | 54/58 | €32,960 | €61,649 | +€28,689 | +87.0% |
| Deferred charges and accrued income | 490/1 | €902 | €945 | +€42 | +4.7% |
| Total equity and liabilities | 10/49 | €63,562 | €140,920 | +€77,359 | +122% |
| Equity | 10/15 | €38,596 | €74,634 | +€36,038 | +93.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,596 | €69,634 | +€36,038 | +107% |
| Distributable reserves | 133 | €33,596 | €69,634 | +€36,038 | +107% |
| Amounts payable | 17/49 | €24,965 | €66,286 | +€41,321 | +166% |
| Amounts payable within one year | 42/48 | €24,804 | €64,910 | +€40,107 | +162% |
| Trade debts | 44 | €2,027 | €3,403 | +€1,376 | +67.9% |
| Suppliers | 440/4 | €2,027 | €3,403 | +€1,376 | +67.9% |
| Taxes, remuneration and social security | 45 | €20,687 | €33,741 | +€13,053 | +63.1% |
| Taxes | 450/3 | €20,687 | €33,741 | +€13,053 | +63.1% |
| Other amounts payable | 47/48 | €2,089 | €27,766 | +€25,677 | +1,229% |
| Accrued charges and deferred income | 492/3 | €162 | €1,376 | +€1,215 | +752% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €1,914 | +€1,701 | +799% |
| Other operating charges | 640/8 | €700 | €468 | -€232 | -33.2% |
| Gross operating margin | 9900 | €48,168 | €53,861 | +€5,692 | +11.8% |
| Operating profit (loss) | 9901 | €47,255 | €51,478 | +€4,223 | +8.9% |
| Financial income | 75/76B | €0 | €315 | +€315 | +1,049,567% |
| Recurring financial income | 75 | €0 | €315 | +€315 | +1,049,567% |
| Financial charges | 65/66B | €507 | €1,546 | +€1,040 | +205% |
| Recurring financial charges | 65 | €507 | €1,546 | +€1,040 | +205% |
| Profit (loss) for the period before taxes | 9903 | €46,749 | €50,247 | +€3,498 | +7.5% |
| Income taxes | 67/77 | €13,152 | €14,209 | +€1,057 | +8.0% |
| Profit (loss) for the period | 9904 | €33,596 | €36,038 | +€2,441 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,596 | €36,038 | +€2,441 | +7.3% |
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 17 October 2026 via checked.be.