BRASIL: 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
BRASIL
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,787
2024 · €12,262-€2,475
Equity
€910,920
2024 · €901,133+€9,787
Cash
€9,549
2024 · €2,958+€6,591
Balance sheet total
€2.3m
2024 · €2.3m-€9,111
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€22,976
down €22,976 (-1.9%), from €1.2m to €1.2m
Income statement
- Gross operating margin -€4,269
down €4,269 (-7.4%), from €58,052 to €53,784
- Taxes -€970
down €970 (-26.7%), from €3,627 to €2,657
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
€12,262
Gross operating margin
-€4,269
Depreciation
+€526
Other operating charges
-€95
Financial charges
+€393
Taxes
+€970
Result 2025
€9,787
raises the resultlowers the result
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
+€29,049
Investment
€0
Financing
-€22,458
Cash 2024
€2,958
From operations (derived)
+€29,049
Net result for the year
+€9,787
Depreciation
+€18,015
Deferred charges and accrued income
-€2,313
Trade debts
+€1,382
Tax, wage and social debts
-€3,790
Other debts
+€5,968
Financing
-€22,458
Debts after one year
-€22,976
Current portion of long-term debt
+€518
Cash 2025
€9,549
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,281,490 | €2,272,380 | -€9,111 | -0.4% |
| Fixed assets | 21/28 | €2,229,017 | €2,211,003 | -€18,015 | -0.8% |
| Tangible fixed assets | 22/27 | €2,229,017 | €2,211,003 | -€18,015 | -0.8% |
| Land and buildings | 22 | €2,180,477 | €2,170,725 | -€9,752 | -0.4% |
| Plant, machinery and equipment | 23 | €8,910 | €7,354 | -€1,556 | -17.5% |
| Furniture and vehicles | 24 | €39,631 | €32,924 | -€6,707 | -16.9% |
| Current assets | 29/58 | €52,473 | €61,377 | +€8,904 | +17.0% |
| Amounts receivable after more than one year | 29 | €48,924 | €48,924 | = | 0.0% |
| Other amounts receivable | 291 | €48,924 | €48,924 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €592 | €592 | = | 0.0% |
| Other amounts receivable | 41 | €592 | €592 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,958 | €9,549 | +€6,591 | +223% |
| Deferred charges and accrued income | 490/1 | - | €2,313 | +€2,313 | |
| Total equity and liabilities | 10/49 | €2,281,490 | €2,272,380 | -€9,111 | -0.4% |
| Equity | 10/15 | €901,133 | €910,920 | +€9,787 | +1.1% |
| Contributions | 10/11 | €850,000 | €850,000 | = | 0.0% |
| Reserves | 13 | €51,133 | €60,920 | +€9,787 | +19.1% |
| Distributable reserves | 133 | €51,133 | €60,920 | +€9,787 | +19.1% |
| Amounts payable | 17/49 | €1,380,357 | €1,361,460 | -€18,898 | -1.4% |
| Amounts payable after more than one year | 17 | €1,185,979 | €1,163,003 | -€22,976 | -1.9% |
| Financial debts | 170/4 | €1,185,979 | €1,163,003 | -€22,976 | -1.9% |
| Amounts payable within one year | 42/48 | €194,379 | €198,457 | +€4,078 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €22,458 | €22,976 | +€518 | +2.3% |
| Trade debts | 44 | €27 | €1,409 | +€1,382 | +5,150% |
| Suppliers | 440/4 | €27 | €1,409 | +€1,382 | +5,150% |
| Taxes, remuneration and social security | 45 | €13,557 | €9,767 | -€3,790 | -28.0% |
| Taxes | 450/3 | €13,557 | €9,767 | -€3,790 | -28.0% |
| Other amounts payable | 47/48 | €158,337 | €164,305 | +€5,968 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,541 | €18,015 | -€526 | -2.8% |
| Other operating charges | 640/8 | €3,248 | €3,344 | +€95 | +2.9% |
| Gross operating margin | 9900 | €58,052 | €53,784 | -€4,269 | -7.4% |
| Operating profit (loss) | 9901 | €36,263 | €32,425 | -€3,837 | -10.6% |
| Financial charges | 65/66B | €20,374 | €19,982 | -€393 | -1.9% |
| Recurring financial charges | 65 | €20,374 | €19,982 | -€393 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €15,889 | €12,444 | -€3,445 | -21.7% |
| Income taxes | 67/77 | €3,627 | €2,657 | -€970 | -26.7% |
| Profit (loss) for the period | 9904 | €12,262 | €9,787 | -€2,475 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,262 | €9,787 | -€2,475 | -20.2% |
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 14 October 2026 via checked.be.