Bread & Ginger: 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.
Bread & Ginger
Largest movements
- Intangible fixed assets -€20,737
down €20,737 (-14.8%), from €139,722 to €118,985
- Cash -€20,014
down €20,014 (-6.4%), from €310,482 to €290,468
mainly Contributions, distributions and other (-€310,116) and Debts after one year (-€50,000)
- Receivables within one year -€6,130
down €6,130 (-40.6%), from €15,116 to €8,986
of which Trade receivables: -€9,217
- Other debts +€272,989
up €272,989 (+14796.8%), from €1,845 to €274,834
- Reserves -€245,448
down €245,448 (-100.0%), from €245,448 to €0
- Debts after one year -€50,000
down €50,000 (-40.0%), from €125,000 to €75,000
- Tax, wage and social debts -€22,339
down €22,339 (-34.8%), from €64,281 to €41,942
of which Taxes: -€19,819
- Staff costs +€12,586
up €12,586 (+6.7%), from €187,057 to €199,643
- Taxes -€5,380
down €5,380 (-24.9%), from €21,577 to €16,198
- Gross operating margin -€4,833
down €4,833 (-1.5%), from €327,875 to €323,042
- Depreciation +€4,190
up €4,190 (+12.0%), from €34,991 to €39,181
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 | €521,622 | €474,623 | -€46,999 | -9.0% |
| Fixed assets | 21/28 | €187,187 | €165,739 | -€21,448 | -11.5% |
| Intangible fixed assets | 21 | €139,722 | €118,985 | -€20,737 | -14.8% |
| Tangible fixed assets | 22/27 | €45,665 | €44,954 | -€711 | -1.6% |
| Plant, machinery and equipment | 23 | €39,678 | €38,666 | -€1,012 | -2.6% |
| Furniture and vehicles | 24 | €5,987 | €5,156 | -€831 | -13.9% |
| Other tangible fixed assets | 26 | - | €1,132 | +€1,132 | |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €334,435 | €308,884 | -€25,551 | -7.6% |
| Stocks and contracts in progress | 3 | €8,140 | €5,965 | -€2,175 | -26.7% |
| Stocks | 30/36 | €8,140 | €5,965 | -€2,175 | -26.7% |
| Amounts receivable within one year | 40/41 | €15,116 | €8,986 | -€6,130 | -40.6% |
| Trade receivables | 40 | €15,116 | €5,899 | -€9,217 | -61.0% |
| Other amounts receivable | 41 | - | €3,087 | +€3,087 | |
| Cash at bank and in hand | 54/58 | €310,482 | €290,468 | -€20,014 | -6.4% |
| Deferred charges and accrued income | 490/1 | €697 | €3,466 | +€2,769 | +397.4% |
| Total equity and liabilities | 10/49 | €521,622 | €474,623 | -€46,999 | -9.0% |
| Equity | 10/15 | €270,448 | €25,000 | -€245,448 | -90.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €245,448 | €0 | -€245,448 | -100.0% |
| Distributable reserves | 133 | €245,448 | €0 | -€245,448 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €251,173 | €449,623 | +€198,450 | +79.0% |
| Amounts payable after more than one year | 17 | €125,000 | €75,000 | -€50,000 | -40.0% |
| Financial debts | 170/4 | €125,000 | €75,000 | -€50,000 | -40.0% |
| Amounts payable within one year | 42/48 | €126,173 | €374,410 | +€248,236 | +196.7% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €10,048 | €7,634 | -€2,414 | -24.0% |
| Suppliers | 440/4 | €10,048 | €7,634 | -€2,414 | -24.0% |
| Taxes, remuneration and social security | 45 | €64,281 | €41,942 | -€22,339 | -34.8% |
| Taxes | 450/3 | €28,625 | €8,806 | -€19,819 | -69.2% |
| Remuneration and social security | 454/9 | €35,656 | €33,135 | -€2,521 | -7.1% |
| Other amounts payable | 47/48 | €1,845 | €274,834 | +€272,989 | +14796.8% |
| Accrued charges and deferred income | 492/3 | - | €213 | +€213 | |
| Remuneration, social security and pensions | 62 | €187,057 | €199,643 | +€12,586 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,991 | €39,181 | +€4,190 | +12.0% |
| Other operating charges | 640/8 | €2,321 | €412 | -€1,909 | -82.3% |
| Gross operating margin | 9900 | €327,875 | €323,042 | -€4,833 | -1.5% |
| Operating profit (loss) | 9901 | €103,506 | €83,807 | -€19,699 | -19.0% |
| Financial income | 75/76B | €2,481 | €0 | -€2,481 | -100.0% |
| Recurring financial income | 75 | €2,481 | €0 | -€2,481 | -100.0% |
| Financial charges | 65/66B | €2,700 | €2,942 | +€241 | +8.9% |
| Recurring financial charges | 65 | €2,700 | €2,942 | +€241 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €103,287 | €80,865 | -€22,422 | -21.7% |
| Income taxes | 67/77 | €21,577 | €16,198 | -€5,380 | -24.9% |
| Profit (loss) for the period | 9904 | €81,710 | €64,667 | -€17,042 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €81,710 | €64,667 | -€17,042 | -20.9% |
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 9 October 2026 via checked.be.