BREMA: 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.
BREMA
Largest movements
- Receivables within one year +€513,617
up €513,617 (+64.8%), from €793,181 to €1.3m
of which Other amounts receivable: +€475,116
- Cash -€343,426
down €343,426 (-71.7%), from €479,027 to €135,601
mainly Receivables within one year (-€513,617) and Stocks and contracts (-€137,707)
- Stocks and contracts +€137,707
up €137,707 (+31.0%), from €444,090 to €581,797
- Trade debts +€156,139
up €156,139 (+73.5%), from €212,530 to €368,669
- Reserves +€90,037
up €90,037 (+18.0%), from €499,370 to €589,408
of which Distributable reserves: +€90,037
- Debts after one year +€61,727
up €61,727 (+10.6%), from €580,852 to €642,579
of which Financial debts: +€41,337
- Other debts -€30,631
down €30,631 (-71.5%), from €42,857 to €12,226
- Current portion of long-term debt +€26,624
up €26,624 (+14.9%), from €178,957 to €205,580
- Staff costs +€113,385
up €113,385 (+20.9%), from €542,377 to €655,763
- Gross operating margin -€45,662
down €45,662 (-5.1%), from €903,283 to €857,621
- Taxes -€40,170
down €40,170 (-56.4%), from €71,202 to €31,032
- Financial income -€19,962
down €19,962 (-97.3%), from €20,526 to €564
- Depreciation -€13,273
down €13,273 (-18.7%), from €71,058 to €57,785
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,960,230 | €2,249,754 | +€289,523 | +14.8% |
| Fixed assets | 21/28 | €202,373 | €184,196 | -€18,178 | -9.0% |
| Tangible fixed assets | 22/27 | €195,693 | €177,516 | -€18,178 | -9.3% |
| Plant, machinery and equipment | 23 | €130,452 | €139,770 | +€9,318 | +7.1% |
| Furniture and vehicles | 24 | €3,540 | €3,038 | -€502 | -14.2% |
| Other tangible fixed assets | 26 | €61,701 | €34,707 | -€26,994 | -43.7% |
| Financial fixed assets | 28 | €6,680 | €6,680 | = | 0.0% |
| Current assets | 29/58 | €1,757,857 | €2,065,558 | +€307,701 | +17.5% |
| Stocks and contracts in progress | 3 | €444,090 | €581,797 | +€137,707 | +31.0% |
| Stocks | 30/36 | €444,090 | €581,797 | +€137,707 | +31.0% |
| Amounts receivable within one year | 40/41 | €793,181 | €1,306,798 | +€513,617 | +64.8% |
| Trade receivables | 40 | €46,255 | €84,756 | +€38,502 | +83.2% |
| Other amounts receivable | 41 | €746,927 | €1,222,042 | +€475,116 | +63.6% |
| Current investments | 50/53 | €37,955 | €38,296 | +€342 | +0.9% |
| Cash at bank and in hand | 54/58 | €479,027 | €135,601 | -€343,426 | -71.7% |
| Deferred charges and accrued income | 490/1 | €3,603 | €3,065 | -€539 | -14.9% |
| Total equity and liabilities | 10/49 | €1,960,230 | €2,249,754 | +€289,523 | +14.8% |
| Equity | 10/15 | €799,370 | €889,408 | +€90,037 | +11.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €499,370 | €589,408 | +€90,037 | +18.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €499,370 | €589,408 | +€90,037 | +18.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,160,860 | €1,360,346 | +€199,486 | +17.2% |
| Amounts payable after more than one year | 17 | €580,852 | €642,579 | +€61,727 | +10.6% |
| Financial debts | 170/4 | €335,661 | €376,999 | +€41,337 | +12.3% |
| Trade debts | 175 | €245,190 | €265,580 | +€20,390 | +8.3% |
| Amounts payable within one year | 42/48 | €523,580 | €667,795 | +€144,214 | +27.5% |
| Current portion of amounts payable after more than one year | 42 | €178,957 | €205,580 | +€26,624 | +14.9% |
| Trade debts | 44 | €212,530 | €368,669 | +€156,139 | +73.5% |
| Suppliers | 440/4 | €212,530 | €368,669 | +€156,139 | +73.5% |
| Taxes, remuneration and social security | 45 | €89,236 | €81,319 | -€7,917 | -8.9% |
| Taxes | 450/3 | €0 | €462 | +€462 | |
| Remuneration and social security | 454/9 | €89,236 | €80,857 | -€8,379 | -9.4% |
| Other amounts payable | 47/48 | €42,857 | €12,226 | -€30,631 | -71.5% |
| Accrued charges and deferred income | 492/3 | €56,428 | €49,972 | -€6,456 | -11.4% |
| Remuneration, social security and pensions | 62 | €542,377 | €655,763 | +€113,385 | +20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,058 | €57,785 | -€13,273 | -18.7% |
| Other operating charges | 640/8 | €2,858 | €3,528 | +€670 | +23.4% |
| Gross operating margin | 9900 | €903,283 | €857,621 | -€45,662 | -5.1% |
| Operating profit (loss) | 9901 | €286,990 | €140,546 | -€146,444 | -51.0% |
| Financial income | 75/76B | €20,526 | €564 | -€19,962 | -97.3% |
| Recurring financial income | 75 | €20,526 | €564 | -€19,962 | -97.3% |
| Financial charges | 65/66B | €29,327 | €20,041 | -€9,287 | -31.7% |
| Recurring financial charges | 65 | €29,327 | €20,041 | -€9,287 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €278,189 | €121,070 | -€157,119 | -56.5% |
| Income taxes | 67/77 | €71,202 | €31,032 | -€40,170 | -56.4% |
| Profit (loss) for the period | 9904 | €206,986 | €90,037 | -€116,949 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €206,986 | €90,037 | -€116,949 | -56.5% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.