BRASS: 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.
BRASS
Largest movements
- Receivables after one year -€18,000
no longer reported in 2025 (was €18,000)
- Tangible fixed assets -€17,768
down €17,768 (-36.8%), from €48,310 to €30,542
of which Land and buildings: -€17,723
- Deferred charges and accrued income -€1,596
no longer reported in 2025 (was €1,596)
- Cash +€1,341
up €1,341 (+44.1%), from €3,044 to €4,386
mainly Depreciation (+€65,693) and Other debts (+€48,259)
- Other debts +€48,259
up €48,259 (+17209.5%), from €280 to €48,539
- Debts after one year -€42,781
no longer reported in 2025 (was €42,781)
- Profit (loss) carried forward -€24,123
down €24,123 (-5.2%), from -€464,620 to -€488,743
- Current portion of long-term debt -€16,681
down €16,681 (-28.1%), from €59,462 to €42,781
- Gross operating margin +€48,847
up €48,847, from -€1,311 to €47,536
- Depreciation +€11,856
up €11,856 (+22.0%), from €53,837 to €65,693
- Financial charges -€2,760
down €2,760 (-42.0%), from €6,568 to €3,808
- Financial income -€1,596
no longer reported in 2025 (was €1,596)
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 | €70,950 | €34,927 | -€36,023 | -50.8% |
| Fixed assets | 21/28 | €48,310 | €30,542 | -€17,768 | -36.8% |
| Tangible fixed assets | 22/27 | €48,310 | €30,542 | -€17,768 | -36.8% |
| Land and buildings | 22 | €48,265 | €30,542 | -€17,723 | -36.7% |
| Furniture and vehicles | 24 | €45 | - | -€45 | |
| Current assets | 29/58 | €22,640 | €4,386 | -€18,255 | -80.6% |
| Amounts receivable after more than one year | 29 | €18,000 | - | -€18,000 | |
| Other amounts receivable | 291 | €18,000 | - | -€18,000 | |
| Cash at bank and in hand | 54/58 | €3,044 | €4,386 | +€1,341 | +44.1% |
| Deferred charges and accrued income | 490/1 | €1,596 | - | -€1,596 | |
| Total equity and liabilities | 10/49 | €70,950 | €34,927 | -€36,023 | -50.8% |
| Equity | 10/15 | -€32,618 | -€56,741 | -€24,123 | -74.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €425,802 | €425,802 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €423,942 | €423,942 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€464,620 | -€488,743 | -€24,123 | -5.2% |
| Amounts payable | 17/49 | €103,569 | €91,668 | -€11,900 | -11.5% |
| Amounts payable after more than one year | 17 | €42,781 | - | -€42,781 | |
| Financial debts | 170/4 | €42,781 | - | -€42,781 | |
| Amounts payable within one year | 42/48 | €60,788 | €91,668 | +€30,880 | +50.8% |
| Current portion of amounts payable after more than one year | 42 | €59,462 | €42,781 | -€16,681 | -28.1% |
| Trade debts | 44 | €1,046 | €349 | -€697 | -66.7% |
| Suppliers | 440/4 | €1,046 | €349 | -€697 | -66.7% |
| Other amounts payable | 47/48 | €280 | €48,539 | +€48,259 | +17209.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,837 | €65,693 | +€11,856 | +22.0% |
| Other operating charges | 640/8 | €1,922 | €2,158 | +€236 | +12.3% |
| Gross operating margin | 9900 | -€1,311 | €47,536 | +€48,847 | |
| Operating profit (loss) | 9901 | -€57,070 | -€20,315 | +€36,754 | +64.4% |
| Financial income | 75/76B | €1,596 | - | -€1,596 | |
| Recurring financial income | 75 | €1,596 | - | -€1,596 | |
| Financial charges | 65/66B | €6,568 | €3,808 | -€2,760 | -42.0% |
| Recurring financial charges | 65 | €6,568 | €3,808 | -€2,760 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | -€62,042 | -€24,123 | +€37,919 | +61.1% |
| Profit (loss) for the period | 9904 | -€62,042 | -€24,123 | +€37,919 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,042 | -€24,123 | +€37,919 | +61.1% |
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.