BREEN BELGIUM: 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.
BREEN BELGIUM
Largest movements
- Receivables within one year +€161,569
up €161,569 (+143%), from €113,265 to €274,834
of which Trade receivables: +€133,420
- Cash -€76,457
down €76,457 (-32.4%), from €235,747 to €159,290
mainly Receivables within one year (-€161,569) and Short-term financial debts (-€75,000)
- Tangible fixed assets -€54,558
down €54,558 (-9.9%), from €550,912 to €496,355
of which Land and buildings: -€33,186
- Stocks and contracts -€50,423
down €50,423 (-5.5%), from €921,536 to €871,113
- Short-term financial debts -€75,000
down €75,000 (-30.0%), from €250,000 to €175,000
- Tax, wage and social debts +€61,476
up €61,476 (+103%), from €59,536 to €121,012
of which Remuneration and social security: +€44,974
- Profit (loss) carried forward +€33,691
up €33,691 (+7.1%), from €475,639 to €509,330
- Debts after one year -€24,000
down €24,000 (-24.0%), from €100,000 to €76,000
- Reserves -€19,372
down €19,372 (-2.9%), from €662,514 to €643,142
of which Tax-exempt reserves: -€19,372
- Staff costs +€54,760
up €54,760 (+21.2%), from €258,527 to €313,287
- Gross operating margin +€28,171
up €28,171 (+6.8%), from €415,382 to €443,553
- Financial charges -€10,249
down €10,249 (-36.3%), from €28,248 to €17,999
- Taxes -€4,828
down €4,828 (-24.6%), from €19,613 to €14,785
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.
Derived cash bridge
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 | €1,864,168 | €1,835,458 | -€28,710 | -1.5% |
| Fixed assets | 21/28 | €584,216 | €520,460 | -€63,756 | -10.9% |
| Intangible fixed assets | 21 | €20,896 | €11,698 | -€9,198 | -44.0% |
| Tangible fixed assets | 22/27 | €550,912 | €496,355 | -€54,558 | -9.9% |
| Land and buildings | 22 | €447,403 | €414,218 | -€33,186 | -7.4% |
| Plant, machinery and equipment | 23 | €60,944 | €57,197 | -€3,747 | -6.1% |
| Furniture and vehicles | 24 | €20,065 | €24,940 | +€4,875 | +24.3% |
| Leasing and similar rights | 25 | €22,500 | €0 | -€22,500 | -100% |
| Financial fixed assets | 28 | €12,407 | €12,407 | = | 0.0% |
| Current assets | 29/58 | €1,279,952 | €1,314,999 | +€35,046 | +2.7% |
| Stocks and contracts in progress | 3 | €921,536 | €871,113 | -€50,423 | -5.5% |
| Stocks | 30/36 | €921,536 | €871,113 | -€50,423 | -5.5% |
| Amounts receivable within one year | 40/41 | €113,265 | €274,834 | +€161,569 | +143% |
| Trade receivables | 40 | €103,042 | €236,462 | +€133,420 | +129% |
| Other amounts receivable | 41 | €10,224 | €38,372 | +€28,149 | +275% |
| Cash at bank and in hand | 54/58 | €235,747 | €159,290 | -€76,457 | -32.4% |
| Deferred charges and accrued income | 490/1 | €9,404 | €9,762 | +€358 | +3.8% |
| Total equity and liabilities | 10/49 | €1,864,168 | €1,835,458 | -€28,710 | -1.5% |
| Equity | 10/15 | €1,162,943 | €1,177,262 | +€14,319 | +1.2% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €662,514 | €643,142 | -€19,372 | -2.9% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €181,379 | €162,007 | -€19,372 | -10.7% |
| Distributable reserves | 133 | €478,656 | €478,656 | = | 0.0% |
| Profit (loss) carried forward | 14 | €475,639 | €509,330 | +€33,691 | +7.1% |
| Provisions and deferred taxes | 16 | €92,885 | €82,910 | -€9,975 | -10.7% |
| Deferred taxes | 168 | €92,885 | €82,910 | -€9,975 | -10.7% |
| Amounts payable | 17/49 | €608,340 | €575,286 | -€33,054 | -5.4% |
| Amounts payable after more than one year | 17 | €100,000 | €76,000 | -€24,000 | -24.0% |
| Financial debts | 170/4 | €100,000 | €76,000 | -€24,000 | -24.0% |
| Amounts payable within one year | 42/48 | €508,340 | €499,286 | -€9,054 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €24,000 | €24,000 | = | 0.0% |
| Financial debts | 43 | €250,000 | €175,000 | -€75,000 | -30.0% |
| Credit institutions | 430/8 | €250,000 | €175,000 | -€75,000 | -30.0% |
| Trade debts | 44 | €174,804 | €179,274 | +€4,470 | +2.6% |
| Suppliers | 440/4 | €174,804 | €179,274 | +€4,470 | +2.6% |
| Taxes, remuneration and social security | 45 | €59,536 | €121,012 | +€61,476 | +103% |
| Taxes | 450/3 | €28,462 | €44,965 | +€16,502 | +58.0% |
| Remuneration and social security | 454/9 | €31,074 | €76,048 | +€44,974 | +145% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €14,929 | €35 | -€14,894 | -99.8% |
| Remuneration, social security and pensions | 62 | €258,527 | €313,287 | +€54,760 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,668 | €86,799 | +€4,131 | +5.0% |
| Other operating charges | 640/8 | €10,519 | €6,961 | -€3,557 | -33.8% |
| Non-recurring operating charges | 66A | €1,740 | €0 | -€1,740 | -100% |
| Gross operating margin | 9900 | €415,382 | €443,553 | +€28,171 | +6.8% |
| Operating profit (loss) | 9901 | €61,929 | €36,506 | -€25,423 | -41.1% |
| Financial income | 75/76B | €992 | €622 | -€370 | -37.3% |
| Recurring financial income | 75 | €992 | €622 | -€370 | -37.3% |
| Financial charges | 65/66B | €28,248 | €17,999 | -€10,249 | -36.3% |
| Recurring financial charges | 65 | €28,248 | €17,999 | -€10,249 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €34,672 | €19,129 | -€15,543 | -44.8% |
| Transfer from deferred taxes | 780 | €9,975 | €9,975 | = | 0.0% |
| Income taxes | 67/77 | €19,613 | €14,785 | -€4,828 | -24.6% |
| Profit (loss) for the period | 9904 | €25,034 | €14,319 | -€10,715 | -42.8% |
| Transfer from tax-exempt reserves | 789 | €19,372 | €19,372 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,406 | €33,691 | -€10,715 | -24.1% |
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 20 October 2026 via checked.be.