BRAUZZ.: 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.
BRAUZZ.
Largest movements
- Receivables within one year +€1.6m
up €1.6m (+2631.5%), from €61,512 to €1.7m
of which Trade receivables: +€1.6m
- Stocks and contracts -€295,190
down €295,190 (-88.1%), from €335,085 to €39,895
- Cash +€294,433
up €294,433 (+97.7%), from €301,393 to €595,826
mainly Net result for the year (+€737,452) and Other debts (+€516,777)
- Intangible fixed assets -€119,897
down €119,897 (-100.0%), from €119,897 to €0
- Deferred charges and accrued income -€88,377
down €88,377 (-94.3%), from €93,732 to €5,355
- Profit (loss) carried forward +€737,452
up €737,452 (+86.8%), from -€849,676 to -€112,225
- Other debts +€516,777
up €516,777 (+24125.1%), from €2,142 to €518,919
- Trade debts +€312,318
up €312,318 (+181.2%), from €172,350 to €484,668
- Debts after one year -€156,469
down €156,469 (-28.0%), from €559,469 to €403,000
- Tax, wage and social debts -€62,360
down €62,360 (-75.6%), from €82,468 to €20,108
of which Taxes: -€61,577
- Gross operating margin +€1.0m
up €1.0m (+32547.2%), from €3,216 to €1.1m
- Financial charges -€62,477
down €62,477 (-69.5%), from €89,869 to €27,391
- Staff costs +€46,616
up €46,616 (+26.3%), from €176,941 to €223,557
- Other operating charges -€14,491
down €14,491 (-69.0%), from €20,991 to €6,500
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 | €927,850 | €2,321,305 | +€1.4m | +150.2% |
| Fixed assets | 21/28 | €136,127 | €0 | -€136,127 | -100.0% |
| Intangible fixed assets | 21 | €119,897 | €0 | -€119,897 | -100.0% |
| Tangible fixed assets | 22/27 | €16,230 | €0 | -€16,230 | -100.0% |
| Plant, machinery and equipment | 23 | €15,403 | €0 | -€15,403 | -100.0% |
| Furniture and vehicles | 24 | €827 | €0 | -€827 | -100.0% |
| Current assets | 29/58 | €791,723 | €2,321,305 | +€1.5m | +193.2% |
| Stocks and contracts in progress | 3 | €335,085 | €39,895 | -€295,190 | -88.1% |
| Stocks | 30/36 | €335,085 | €39,895 | -€295,190 | -88.1% |
| Amounts receivable within one year | 40/41 | €61,512 | €1,680,229 | +€1.6m | +2631.5% |
| Trade receivables | 40 | €58,252 | €1,658,297 | +€1.6m | +2746.8% |
| Other amounts receivable | 41 | €3,260 | €21,932 | +€18,672 | +572.7% |
| Cash at bank and in hand | 54/58 | €301,393 | €595,826 | +€294,433 | +97.7% |
| Deferred charges and accrued income | 490/1 | €93,732 | €5,355 | -€88,377 | -94.3% |
| Total equity and liabilities | 10/49 | €927,850 | €2,321,305 | +€1.4m | +150.2% |
| Equity | 10/15 | €25,717 | €763,169 | +€737,452 | +2867.6% |
| Contributions | 10/11 | €875,393 | €875,393 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€849,676 | -€112,225 | +€737,452 | +86.8% |
| Amounts payable | 17/49 | €902,133 | €1,558,137 | +€656,004 | +72.7% |
| Amounts payable after more than one year | 17 | €559,469 | €403,000 | -€156,469 | -28.0% |
| Financial debts | 170/4 | €559,469 | €403,000 | -€156,469 | -28.0% |
| Amounts payable within one year | 42/48 | €342,665 | €1,151,035 | +€808,371 | +235.9% |
| Current portion of amounts payable after more than one year | 42 | €85,704 | €125,344 | +€39,640 | +46.3% |
| Financial debts | 43 | - | €1,995 | +€1,995 | |
| Credit institutions | 430/8 | - | €1,995 | +€1,995 | |
| Trade debts | 44 | €172,350 | €484,668 | +€312,318 | +181.2% |
| Suppliers | 440/4 | €172,350 | €484,668 | +€312,318 | +181.2% |
| Taxes, remuneration and social security | 45 | €82,468 | €20,108 | -€62,360 | -75.6% |
| Taxes | 450/3 | €63,182 | €1,606 | -€61,577 | -97.5% |
| Remuneration and social security | 454/9 | €19,286 | €18,502 | -€784 | -4.1% |
| Other amounts payable | 47/48 | €2,142 | €518,919 | +€516,777 | +24125.1% |
| Accrued charges and deferred income | 492/3 | - | €4,102 | +€4,102 | |
| Non-recurring operating income | 76A | - | €1,293,578 | +€1.3m | |
| Remuneration, social security and pensions | 62 | €176,941 | €223,557 | +€46,616 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,450 | €55,477 | -€5,972 | -9.7% |
| Other operating charges | 640/8 | €20,991 | €6,500 | -€14,491 | -69.0% |
| Gross operating margin | 9900 | €3,216 | €1,050,062 | +€1.0m | +32547.2% |
| Operating profit (loss) | 9901 | -€256,166 | €764,527 | +€1.0m | |
| Financial income | 75/76B | €402 | €185 | -€217 | -54.0% |
| Recurring financial income | 75 | €402 | €185 | -€217 | -54.0% |
| Financial charges | 65/66B | €89,869 | €27,391 | -€62,477 | -69.5% |
| Recurring financial charges | 65 | €89,869 | €27,391 | -€62,477 | -69.5% |
| Profit (loss) for the period before taxes | 9903 | -€345,632 | €737,321 | +€1.1m | |
| Income taxes | 67/77 | €131 | -€131 | -€263 | |
| Profit (loss) for the period | 9904 | -€345,763 | €737,452 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€345,763 | €737,452 | +€1.1m |
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 5 October 2026 via checked.be.