BREMSTEIN: 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.
BREMSTEIN
Largest movements
- Stocks and contracts +€1.4m
up €1.4m (+38766.3%), from €3,564 to €1.4m
- Receivables within one year +€362,403
up €362,403 (+8.8%), from €4.1m to €4.5m
of which Trade receivables: +€274,516
- Receivables after one year -€360,000
no longer reported in 2025 (was €360,000)
- Intangible fixed assets +€198,307
up €198,307 (+14234.8%), from €1,393 to €199,700
- Financial fixed assets -€99,433
down €99,433 (-99.2%), from €100,205 to €772
- Trade debts +€2.7m
up €2.7m (+220.9%), from €1.2m to €3.9m
- Other debts -€1.9m
down €1.9m (-93.4%), from €2.0m to €134,726
- Reserves +€584,106
up €584,106 (+68.7%), from €849,922 to €1.4m
- Tax, wage and social debts +€170,942
up €170,942 (+1666.0%), from €10,261 to €181,203
of which Taxes: +€175,063
- Advances received -€73,596
no longer reported in 2025 (was €73,596)
- Depreciation -€309,609
down €309,609 (-87.5%), from €353,903 to €44,294
- Taxes +€239,298
up €239,298 (+8043.2%), from €2,975 to €242,273
- Financial charges -€140,422
down €140,422 (-72.0%), from €195,063 to €54,641
of which Financial charges: -€140,523
- Write-downs +€97,699
new in 2025: €97,699
- Financial income +€77,903
new in 2025: €77,903
of which Non-recurring financial income: +€65,168
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 | €4,797,614 | €6,196,556 | +€1.4m | +29.2% |
| Fixed assets | 21/28 | €252,640 | €308,613 | +€55,973 | +22.2% |
| Intangible fixed assets | 21 | €1,393 | €199,700 | +€198,307 | +14234.8% |
| Tangible fixed assets | 22/27 | €151,042 | €108,141 | -€42,901 | -28.4% |
| Furniture and vehicles | 24 | €3,288 | - | -€3,288 | |
| Leasing and similar rights | 25 | €129,829 | €108,141 | -€21,688 | -16.7% |
| Other tangible fixed assets | 26 | €17,924 | - | -€17,924 | |
| Financial fixed assets | 28 | €100,205 | €772 | -€99,433 | -99.2% |
| Current assets | 29/58 | €4,544,974 | €5,887,943 | +€1.3m | +29.5% |
| Amounts receivable after more than one year | 29 | €360,000 | - | -€360,000 | |
| Other amounts receivable | 291 | €360,000 | - | -€360,000 | |
| Stocks and contracts in progress | 3 | €3,564 | €1,385,148 | +€1.4m | +38766.3% |
| Stocks | 30/36 | €3,564 | €1,385,148 | +€1.4m | +38766.3% |
| Amounts receivable within one year | 40/41 | €4,117,446 | €4,479,849 | +€362,403 | +8.8% |
| Trade receivables | 40 | €4,069,329 | €4,343,845 | +€274,516 | +6.7% |
| Other amounts receivable | 41 | €48,117 | €136,004 | +€87,887 | +182.7% |
| Cash at bank and in hand | 54/58 | €43,303 | €2,285 | -€41,018 | -94.7% |
| Deferred charges and accrued income | 490/1 | €20,661 | €20,661 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €4,797,614 | €6,196,556 | +€1.4m | +29.2% |
| Equity | 10/15 | €1,224,028 | €1,806,986 | +€582,958 | +47.6% |
| Contributions | 10/11 | €370,000 | €370,000 | = | 0.0% |
| Reserves | 13 | €849,922 | €1,434,028 | +€584,106 | +68.7% |
| Distributable reserves | 133 | €849,922 | €1,434,028 | +€584,106 | +68.7% |
| Profit (loss) carried forward | 14 | €4,106 | €2,958 | -€1,148 | -28.0% |
| Amounts payable | 17/49 | €3,573,586 | €4,389,570 | +€815,984 | +22.8% |
| Amounts payable after more than one year | 17 | €225,572 | €162,273 | -€63,299 | -28.1% |
| Financial debts | 170/4 | €225,572 | €162,273 | -€63,299 | -28.1% |
| Amounts payable within one year | 42/48 | €3,347,928 | €4,227,212 | +€879,284 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €21,689 | €24,137 | +€2,448 | +11.3% |
| Trade debts | 44 | €1,211,505 | €3,887,146 | +€2.7m | +220.9% |
| Suppliers | 440/4 | €1,211,505 | €3,887,146 | +€2.7m | +220.9% |
| Advances received on contracts in progress | 46 | €73,596 | - | -€73,596 | |
| Taxes, remuneration and social security | 45 | €10,261 | €181,203 | +€170,942 | +1666.0% |
| Taxes | 450/3 | €6,140 | €181,203 | +€175,063 | +2851.2% |
| Remuneration and social security | 454/9 | €4,121 | - | -€4,121 | |
| Other amounts payable | 47/48 | €2,030,878 | €134,726 | -€1.9m | -93.4% |
| Accrued charges and deferred income | 492/3 | €85 | €85 | -€0 | -0.6% |
| Non-recurring operating income | 76A | €44,792 | - | -€44,792 | |
| Remuneration, social security and pensions | 62 | €90,977 | €47,516 | -€43,461 | -47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353,903 | €44,294 | -€309,609 | -87.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €97,699 | +€97,699 | |
| Other operating charges | 640/8 | €2,677 | €1,143 | -€1,534 | -57.3% |
| Non-recurring operating charges | 66A | €918 | - | -€918 | |
| Gross operating margin | 9900 | €1,021,620 | €992,621 | -€28,999 | -2.8% |
| Operating profit (loss) | 9901 | €573,145 | €801,969 | +€228,824 | +39.9% |
| Financial income | 75/76B | - | €77,903 | +€77,903 | |
| Recurring financial income | 75 | - | €12,735 | +€12,735 | |
| Non-recurring financial income | 76B | - | €65,168 | +€65,168 | |
| Financial charges | 65/66B | €195,063 | €54,641 | -€140,422 | -72.0% |
| Recurring financial charges | 65 | €195,063 | €54,540 | -€140,523 | -72.0% |
| Non-recurring financial charges | 66B | - | €101 | +€101 | |
| Profit (loss) for the period before taxes | 9903 | €378,082 | €825,231 | +€447,149 | +118.3% |
| Income taxes | 67/77 | €2,975 | €242,273 | +€239,298 | +8043.2% |
| Profit (loss) for the period | 9904 | €375,106 | €582,958 | +€207,852 | +55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €375,106 | €582,958 | +€207,852 | +55.4% |
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 8 October 2026 via checked.be.