BREEDEX: 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.
BREEDEX
Largest movements
- Tangible fixed assets -€25,920
down €25,920 (-10.0%), from €260,157 to €234,237
of which Land and buildings: -€25,577
- Stocks and contracts -€6,326
down €6,326 (-8.6%), from €73,676 to €67,350
- Profit (loss) carried forward -€34,470
down €34,470 (-14.1%), from -€244,723 to -€279,193
- Debts after one year -€30,632
down €30,632 (-14.5%), from €211,291 to €180,658
of which Financial debts: -€30,632
- Other debts +€30,370
up €30,370 (+14.5%), from €209,803 to €240,173
- Trade debts -€5,260
down €5,260 (-95.6%), from €5,501 to €241
- Tax, wage and social debts +€4,189
up €4,189 (+512.1%), from €818 to €5,007
- Gross operating margin +€2,860
up €2,860 (+40.1%), from €7,128 to €9,988
- Financial charges -€1,725
down €1,725 (-11.6%), from €14,933 to €13,208
- Depreciation -€1,404
down €1,404 (-5.1%), from €27,324 to €25,920
- Staff costs -€290
down €290 (-45.0%), from €643 to €354
- Other operating charges +€139
up €139 (+2.8%), from €4,977 to €5,116
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 | €348,431 | €314,906 | -€33,524 | -9.6% |
| Fixed assets | 21/28 | €260,157 | €234,237 | -€25,920 | -10.0% |
| Tangible fixed assets | 22/27 | €260,157 | €234,237 | -€25,920 | -10.0% |
| Land and buildings | 22 | €258,286 | €232,709 | -€25,577 | -9.9% |
| Plant, machinery and equipment | 23 | €1,815 | €1,528 | -€287 | -15.8% |
| Furniture and vehicles | 24 | €56 | - | -€56 | |
| Current assets | 29/58 | €88,274 | €80,670 | -€7,604 | -8.6% |
| Stocks and contracts in progress | 3 | €73,676 | €67,350 | -€6,326 | -8.6% |
| Stocks | 30/36 | €73,676 | €67,350 | -€6,326 | -8.6% |
| Amounts receivable within one year | 40/41 | €848 | €763 | -€85 | -10.0% |
| Trade receivables | 40 | €828 | €726 | -€102 | -12.3% |
| Other amounts receivable | 41 | €21 | €38 | +€17 | +80.9% |
| Cash at bank and in hand | 54/58 | €9,439 | €8,814 | -€626 | -6.6% |
| Deferred charges and accrued income | 490/1 | €4,310 | €3,743 | -€567 | -13.2% |
| Total equity and liabilities | 10/49 | €348,431 | €314,906 | -€33,524 | -9.6% |
| Equity | 10/15 | -€107,336 | -€141,805 | -€34,470 | -32.1% |
| Contributions | 10/11 | €137,387 | €137,387 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€244,723 | -€279,193 | -€34,470 | -14.1% |
| Amounts payable | 17/49 | €455,766 | €456,712 | +€946 | +0.2% |
| Amounts payable after more than one year | 17 | €211,291 | €180,658 | -€30,632 | -14.5% |
| Financial debts | 170/4 | €211,191 | €180,558 | -€30,632 | -14.5% |
| Other amounts payable | 178/9 | €100 | €100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €244,475 | €276,053 | +€31,578 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €28,305 | €30,632 | +€2,327 | +8.2% |
| Financial debts | 43 | €47 | - | -€47 | |
| Credit institutions | 430/8 | €47 | - | -€47 | |
| Trade debts | 44 | €5,501 | €241 | -€5,260 | -95.6% |
| Suppliers | 440/4 | €5,501 | €241 | -€5,260 | -95.6% |
| Taxes, remuneration and social security | 45 | €818 | €5,007 | +€4,189 | +512.1% |
| Taxes | 450/3 | €818 | €5,007 | +€4,189 | +512.1% |
| Other amounts payable | 47/48 | €209,803 | €240,173 | +€30,370 | +14.5% |
| Remuneration, social security and pensions | 62 | €643 | €354 | -€290 | -45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,324 | €25,920 | -€1,404 | -5.1% |
| Other operating charges | 640/8 | €4,977 | €5,116 | +€139 | +2.8% |
| Gross operating margin | 9900 | €7,128 | €9,988 | +€2,860 | +40.1% |
| Operating profit (loss) | 9901 | -€25,817 | -€21,402 | +€4,415 | +17.1% |
| Financial income | 75/76B | €216 | €140 | -€76 | -35.2% |
| Recurring financial income | 75 | €216 | €140 | -€76 | -35.2% |
| Financial charges | 65/66B | €14,933 | €13,208 | -€1,725 | -11.6% |
| Recurring financial charges | 65 | €14,933 | €13,208 | -€1,725 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | -€40,534 | -€34,470 | +€6,064 | +15.0% |
| Profit (loss) for the period | 9904 | -€40,534 | -€34,470 | +€6,064 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,534 | -€34,470 | +€6,064 | +15.0% |
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.