BREDE: 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.
BREDE
Largest movements
- Tangible fixed assets +€359,785
up €359,785 (+25.2%), from €1.4m to €1.8m
of which Land and buildings: +€411,884
- Receivables within one year -€44,547
down €44,547 (-21.5%), from €207,119 to €162,571
of which Trade receivables: -€28,370
- Cash +€38,763
up €38,763 (+748.1%), from €5,181 to €43,944
mainly Trade debts (+€397,393) and Net result for the year (+€100,436)
- Trade debts +€397,393
up €397,393 (+29223.5%), from €1,360 to €398,753
- Debts after one year -€85,926
down €85,926 (-7.1%), from €1.2m to €1.1m
- Current portion of long-term debt -€43,731
down €43,731 (-33.7%), from €129,657 to €85,926
- Reserves +€40,104
up €40,104 (+18.4%), from €218,171 to €258,276
- Other debts +€37,273
up €37,273 (+181.3%), from €20,555 to €57,829
- Other operating charges -€47,587
down €47,587 (-87.4%), from €54,474 to €6,887
- Depreciation +€23,309
up €23,309 (+43.8%), from €53,193 to €76,502
- Financial charges +€8,450
up €8,450 (+42.2%), from €20,002 to €28,452
- Financial income +€7,755
new in 2025: €7,755
- Gross operating margin -€7,305
down €7,305 (-2.9%), from €247,982 to €240,677
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 | €1,644,007 | €2,000,540 | +€356,533 | +21.7% |
| Fixed assets | 21/28 | €1,425,419 | €1,785,203 | +€359,785 | +25.2% |
| Tangible fixed assets | 22/27 | €1,425,419 | €1,785,203 | +€359,785 | +25.2% |
| Land and buildings | 22 | €1,159,083 | €1,570,966 | +€411,884 | +35.5% |
| Plant, machinery and equipment | 23 | €162,309 | €138,298 | -€24,011 | -14.8% |
| Furniture and vehicles | 24 | €103,072 | €75,430 | -€27,641 | -26.8% |
| Other tangible fixed assets | 26 | €956 | €509 | -€447 | -46.8% |
| Current assets | 29/58 | €218,588 | €215,336 | -€3,252 | -1.5% |
| Amounts receivable within one year | 40/41 | €207,119 | €162,571 | -€44,547 | -21.5% |
| Trade receivables | 40 | €119,022 | €90,652 | -€28,370 | -23.8% |
| Other amounts receivable | 41 | €88,096 | €71,919 | -€16,177 | -18.4% |
| Cash at bank and in hand | 54/58 | €5,181 | €43,944 | +€38,763 | +748.1% |
| Deferred charges and accrued income | 490/1 | €6,288 | €8,821 | +€2,533 | +40.3% |
| Total equity and liabilities | 10/49 | €1,644,007 | €2,000,540 | +€356,533 | +21.7% |
| Equity | 10/15 | €278,171 | €318,276 | +€40,104 | +14.4% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €218,171 | €258,276 | +€40,104 | +18.4% |
| Distributable reserves | 133 | €218,171 | €258,276 | +€40,104 | +18.4% |
| Amounts payable | 17/49 | €1,365,836 | €1,682,264 | +€316,428 | +23.2% |
| Amounts payable after more than one year | 17 | €1,209,158 | €1,123,232 | -€85,926 | -7.1% |
| Financial debts | 170/4 | €1,209,158 | €1,123,232 | -€85,926 | -7.1% |
| Amounts payable within one year | 42/48 | €151,573 | €549,611 | +€398,038 | +262.6% |
| Current portion of amounts payable after more than one year | 42 | €129,657 | €85,926 | -€43,731 | -33.7% |
| Trade debts | 44 | €1,360 | €398,753 | +€397,393 | +29223.5% |
| Suppliers | 440/4 | €1,360 | €398,753 | +€397,393 | +29223.5% |
| Taxes, remuneration and social security | 45 | - | €7,103 | +€7,103 | |
| Taxes | 450/3 | - | €7,103 | +€7,103 | |
| Other amounts payable | 47/48 | €20,555 | €57,829 | +€37,273 | +181.3% |
| Accrued charges and deferred income | 492/3 | €5,105 | €9,421 | +€4,317 | +84.6% |
| Remuneration, social security and pensions | 62 | €645 | €96 | -€549 | -85.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,193 | €76,502 | +€23,309 | +43.8% |
| Other operating charges | 640/8 | €54,474 | €6,887 | -€47,587 | -87.4% |
| Gross operating margin | 9900 | €247,982 | €240,677 | -€7,305 | -2.9% |
| Operating profit (loss) | 9901 | €139,670 | €157,192 | +€17,522 | +12.5% |
| Financial income | 75/76B | - | €7,755 | +€7,755 | |
| Recurring financial income | 75 | - | €7,755 | +€7,755 | |
| Financial charges | 65/66B | €20,002 | €28,452 | +€8,450 | +42.2% |
| Recurring financial charges | 65 | €20,002 | €28,452 | +€8,450 | +42.2% |
| Profit (loss) for the period before taxes | 9903 | €119,668 | €136,496 | +€16,828 | +14.1% |
| Income taxes | 67/77 | €38,073 | €36,060 | -€2,013 | -5.3% |
| Profit (loss) for the period | 9904 | €81,595 | €100,436 | +€18,841 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €81,595 | €100,436 | +€18,841 | +23.1% |
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 4 October 2026 via checked.be.