BREF: 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.
BREF
Largest movements
- Current investments +€210,000
new in 2025: €210,000
- Cash -€156,152
down €156,152 (-71.7%), from €217,778 to €61,626
mainly Current investments (-€210,000) and Contributions, distributions and other (-€20,000)
- Profit (loss) carried forward +€52,875
up €52,875 (+32.4%), from €163,197 to €216,072
- Gross operating margin -€18,197
down €18,197 (-16.9%), from €107,734 to €89,537
- Taxes -€3,927
down €3,927 (-17.7%), from €22,146 to €18,219
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 | €217,778 | €272,365 | +€54,587 | +25.1% |
| Current assets | 29/58 | €217,778 | €272,365 | +€54,587 | +25.1% |
| Current investments | 50/53 | - | €210,000 | +€210,000 | |
| Cash at bank and in hand | 54/58 | €217,778 | €61,626 | -€156,152 | -71.7% |
| Deferred charges and accrued income | 490/1 | - | €739 | +€739 | |
| Total equity and liabilities | 10/49 | €217,778 | €272,365 | +€54,587 | +25.1% |
| Equity | 10/15 | €165,197 | €218,072 | +€52,875 | +32.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €163,197 | €216,072 | +€52,875 | +32.4% |
| Amounts payable | 17/49 | €52,581 | €54,293 | +€1,712 | +3.3% |
| Amounts payable within one year | 42/48 | €52,581 | €54,293 | +€1,712 | +3.3% |
| Taxes, remuneration and social security | 45 | €52,304 | €54,290 | +€1,986 | +3.8% |
| Taxes | 450/3 | €52,304 | €54,290 | +€1,986 | +3.8% |
| Other amounts payable | 47/48 | €277 | €3 | -€274 | -98.9% |
| Gross operating margin | 9900 | €107,734 | €89,537 | -€18,197 | -16.9% |
| Operating profit (loss) | 9901 | €107,734 | €89,537 | -€18,197 | -16.9% |
| Financial income | 75/76B | €1,271 | €1,597 | +€327 | +25.7% |
| Recurring financial income | 75 | €1,271 | €1,597 | +€327 | +25.7% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €108,965 | €91,094 | -€17,871 | -16.4% |
| Income taxes | 67/77 | €22,146 | €18,219 | -€3,927 | -17.7% |
| Profit (loss) for the period | 9904 | €86,819 | €72,875 | -€13,944 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €86,819 | €72,875 | -€13,944 | -16.1% |
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 9 October 2026 via checked.be.