BREIDELS: 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.
BREIDELS
Largest movements
- Receivables within one year +€2.7m
up €2.7m (+59.0%), from €4.5m to €7.2m
of which Other amounts receivable: +€2.7m
- Cash -€2.5m
down €2.5m (-46.4%), from €5.3m to €2.9m
mainly Receivables within one year (-€2.7m) and Current investments (-€2.3m)
- Current investments +€2.3m
up €2.3m (+11.7%), from €19.2m to €21.5m
- Financial fixed assets +€2.0m
up €2.0m (+15.1%), from €13.5m to €15.6m
- Tangible fixed assets -€1.1m
down €1.1m (-63.6%), from €1.7m to €609,525
of which Plant, machinery and equipment: -€1.1m
- Reserves +€3.9m
up €3.9m (+11.4%), from €34.4m to €38.3m
of which Distributable reserves: +€3.9m
- Financial income -€3.0m
down €3.0m (-42.7%), from €7.1m to €4.1m
- Taxes -€557,377
down €557,377 (-40.0%), from €1.4m to €837,756
- Gross operating margin -€287,482
down €287,482 (-20.9%), from €1.4m to €1.1m
- Financial charges +€242,925
up €242,925 (+232.9%), from €104,292 to €347,217
- Other operating charges +€15,831
up €15,831 (+200.1%), from €7,910 to €23,740
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 | €47,445,312 | €50,836,464 | +€3.4m | +7.1% |
| Fixed assets | 21/28 | €15,221,670 | €16,205,661 | +€983,991 | +6.5% |
| Tangible fixed assets | 22/27 | €1,673,236 | €609,525 | -€1.1m | -63.6% |
| Land and buildings | 22 | €328,272 | €323,960 | -€4,312 | -1.3% |
| Plant, machinery and equipment | 23 | €1,118,909 | €45,748 | -€1.1m | -95.9% |
| Furniture and vehicles | 24 | €226,054 | €239,817 | +€13,763 | +6.1% |
| Financial fixed assets | 28 | €13,548,434 | €15,596,136 | +€2.0m | +15.1% |
| Current assets | 29/58 | €32,223,642 | €34,630,803 | +€2.4m | +7.5% |
| Amounts receivable after more than one year | 29 | €3,042,178 | €3,042,178 | = | 0.0% |
| Other amounts receivable | 291 | €3,042,178 | €3,042,178 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,523,682 | €7,193,923 | +€2.7m | +59.0% |
| Trade receivables | 40 | €74,176 | €56,354 | -€17,822 | -24.0% |
| Other amounts receivable | 41 | €4,449,506 | €7,137,569 | +€2.7m | +60.4% |
| Current investments | 50/53 | €19,238,443 | €21,495,112 | +€2.3m | +11.7% |
| Cash at bank and in hand | 54/58 | €5,349,635 | €2,865,180 | -€2.5m | -46.4% |
| Deferred charges and accrued income | 490/1 | €69,704 | €34,410 | -€35,294 | -50.6% |
| Total equity and liabilities | 10/49 | €47,445,312 | €50,836,464 | +€3.4m | +7.1% |
| Equity | 10/15 | €46,068,198 | €49,984,614 | +€3.9m | +8.5% |
| Contributions | 10/11 | €10,518,920 | €10,518,920 | = | 0.0% |
| Reserves | 13 | €34,415,824 | €38,332,240 | +€3.9m | +11.4% |
| Non-distributable reserves | 130/1 | €58,078 | €58,078 | = | 0.0% |
| Reserves not available under the articles | 1311 | €58,078 | €58,078 | = | 0.0% |
| Distributable reserves | 133 | €34,357,745 | €38,274,162 | +€3.9m | +11.4% |
| Profit (loss) carried forward | 14 | €1,133,454 | €1,133,454 | = | 0.0% |
| Amounts payable | 17/49 | €1,377,115 | €851,850 | -€525,264 | -38.1% |
| Amounts payable within one year | 42/48 | €1,377,115 | €851,850 | -€525,264 | -38.1% |
| Trade debts | 44 | €216,054 | €66,270 | -€149,784 | -69.3% |
| Suppliers | 440/4 | €216,054 | €66,270 | -€149,784 | -69.3% |
| Taxes, remuneration and social security | 45 | €1,161,060 | €785,580 | -€375,480 | -32.3% |
| Taxes | 450/3 | €1,161,060 | €784,686 | -€376,374 | -32.4% |
| Remuneration and social security | 454/9 | - | €894 | +€894 | |
| Non-recurring operating income | 76A | - | €27 | +€27 | |
| Remuneration, social security and pensions | 62 | - | €1,339 | +€1,339 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,748 | €45,387 | +€4,639 | +11.4% |
| Other operating charges | 640/8 | €7,910 | €23,740 | +€15,831 | +200.1% |
| Non-recurring operating charges | 66A | - | €8,390 | +€8,390 | |
| Gross operating margin | 9900 | €1,376,268 | €1,088,785 | -€287,482 | -20.9% |
| Operating profit (loss) | 9901 | €1,327,610 | €1,009,929 | -€317,681 | -23.9% |
| Financial income | 75/76B | €7,135,680 | €4,091,460 | -€3.0m | -42.7% |
| Recurring financial income | 75 | €7,135,680 | €4,091,460 | -€3.0m | -42.7% |
| Financial charges | 65/66B | €104,292 | €347,217 | +€242,925 | +232.9% |
| Recurring financial charges | 65 | €104,292 | €347,217 | +€242,925 | +232.9% |
| Profit (loss) for the period before taxes | 9903 | €8,358,998 | €4,754,172 | -€3.6m | -43.1% |
| Income taxes | 67/77 | €1,395,133 | €837,756 | -€557,377 | -40.0% |
| Profit (loss) for the period | 9904 | €6,963,865 | €3,916,416 | -€3.0m | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,963,865 | €3,916,416 | -€3.0m | -43.8% |
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 5 October 2026 via checked.be.