BRAS-RUND: 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.
BRAS-RUND
Largest movements
- Receivables within one year +€63,593
up €63,593 (+83.8%), from €75,855 to €139,448
of which Trade receivables: +€66,019
- Stocks and contracts -€16,250
no longer reported in 2025 (was €16,250)
- Cash +€2,669
up €2,669 (+20.6%), from €12,937 to €15,606
mainly Net result for the year (+€39,254) and Other debts (+€17,568)
- Reserves +€39,254
up €39,254 (+137%), from €28,754 to €68,008
of which Distributable reserves: +€39,254
- Trade debts -€23,188
down €23,188 (-85.1%), from €27,242 to €4,053
- Other debts +€17,568
up €17,568 (+47.7%), from €36,865 to €54,433
- Tax, wage and social debts +€16,378
up €16,378 (+408%), from €4,016 to €20,395
- Gross operating margin +€25,103
up €25,103 (+50.7%), from €49,480 to €74,583
- Taxes +€7,865
up €7,865 (+62.8%), from €12,530 to €20,395
- Financial charges +€5,929
up €5,929 (+65.8%), from €9,005 to €14,934
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 | €105,042 | €155,054 | +€50,012 | +47.6% |
| Current assets | 29/58 | €105,042 | €155,054 | +€50,012 | +47.6% |
| Stocks and contracts in progress | 3 | €16,250 | - | -€16,250 | |
| Contracts in progress | 37 | €16,250 | - | -€16,250 | |
| Amounts receivable within one year | 40/41 | €75,855 | €139,448 | +€63,593 | +83.8% |
| Trade receivables | 40 | €73,385 | €139,404 | +€66,019 | +90.0% |
| Other amounts receivable | 41 | €2,470 | €44 | -€2,426 | -98.2% |
| Cash at bank and in hand | 54/58 | €12,937 | €15,606 | +€2,669 | +20.6% |
| Total equity and liabilities | 10/49 | €105,042 | €155,054 | +€50,012 | +47.6% |
| Equity | 10/15 | €36,919 | €76,173 | +€39,254 | +106% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €28,754 | €68,008 | +€39,254 | +137% |
| Non-distributable reserves | 130/1 | €1,094 | €1,094 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,094 | €1,094 | = | 0.0% |
| Distributable reserves | 133 | €27,659 | €66,913 | +€39,254 | +142% |
| Profit (loss) carried forward | 14 | -€11,834 | -€11,834 | = | 0.0% |
| Amounts payable | 17/49 | €68,123 | €78,881 | +€10,758 | +15.8% |
| Amounts payable within one year | 42/48 | €68,123 | €78,881 | +€10,758 | +15.8% |
| Trade debts | 44 | €27,242 | €4,053 | -€23,188 | -85.1% |
| Suppliers | 440/4 | €27,242 | €4,053 | -€23,188 | -85.1% |
| Taxes, remuneration and social security | 45 | €4,016 | €20,395 | +€16,378 | +408% |
| Taxes | 450/3 | €4,016 | €20,395 | +€16,378 | +408% |
| Other amounts payable | 47/48 | €36,865 | €54,433 | +€17,568 | +47.7% |
| Other operating charges | 640/8 | €286 | - | -€286 | |
| Gross operating margin | 9900 | €49,480 | €74,583 | +€25,103 | +50.7% |
| Operating profit (loss) | 9901 | €49,195 | €74,583 | +€25,388 | +51.6% |
| Financial charges | 65/66B | €9,005 | €14,934 | +€5,929 | +65.8% |
| Recurring financial charges | 65 | €9,005 | €14,934 | +€5,929 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €40,189 | €59,649 | +€19,460 | +48.4% |
| Income taxes | 67/77 | €12,530 | €20,395 | +€7,865 | +62.8% |
| Profit (loss) for the period | 9904 | €27,659 | €39,254 | +€11,595 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,659 | €39,254 | +€11,595 | +41.9% |
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 24 October 2026 via checked.be.