BRENCO: 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.
What changed
BRENCO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€328,791
2024 · -€223,835+€552,626
Equity
€2.9m
2024 · €2.6m+€328,791
Cash
€29,994
2024 · €18,040+€11,954
Balance sheet total
€11.0m
2024 · €11.5m-€509,552
Largest movements
Assets
- Tangible fixed assets -€536,883
down €536,883 (-4.7%), from €11.4m to €10.9m
of which Land and buildings: -€368,534
Equity and liabilities
- Debts after one year -€766,361
down €766,361 (-15.9%), from €4.8m to €4.0m
- Profit (loss) carried forward +€337,882
up €337,882 (+16.2%), from €2.1m to €2.4m
Income statement
- Gross operating margin +€677,734
up €677,734 (+106.6%), from €635,776 to €1.3m
- Financial charges +€100,298
up €100,298 (+69.3%), from €144,664 to €244,962
- Taxes +€58,968
up €58,968 (+9942.3%), from €593 to €59,561
- Depreciation -€27,005
down €27,005 (-4.8%), from €563,888 to €536,883
- Staff costs -€20,270
down €20,270 (-15.2%), from €133,120 to €112,850
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.
Result 2024
-€223,835
Gross operating margin
+€677,734
Staff costs
+€20,270
Depreciation
+€27,005
Other operating charges
-€16,217
Financial income
+€69
Financial charges
-€100,298
Taxes
-€58,968
Deferred taxes and other
+€3,030
Result 2025
€328,791
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.
From operations
+€774,599
Investment
-€19
Financing
-€762,626
Cash 2024
€18,040
From operations (derived)
+€774,599
Net result for the year
+€328,791
Depreciation
+€536,883
Receivables within one year
-€15,681
Deferred charges and accrued income
+€323
Provisions
-€3,030
Trade debts
+€3,450
Tax, wage and social debts
+€50,766
Advances received
-€32,670
Other debts
-€25,023
Accrued charges and deferred income
-€69,210
Investment (derived)
-€19
Current investments
-€19
Financing
-€762,626
Debts after one year
-€766,361
Current portion of long-term debt
+€3,735
Cash 2025
€29,994
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,526,186 | €11,016,634 | -€509,552 | -4.4% |
| Fixed assets | 21/28 | €11,423,857 | €10,886,974 | -€536,883 | -4.7% |
| Tangible fixed assets | 22/27 | €11,423,357 | €10,886,474 | -€536,883 | -4.7% |
| Land and buildings | 22 | €11,096,697 | €10,728,163 | -€368,534 | -3.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €326,660 | €158,310 | -€168,349 | -51.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €102,330 | €129,661 | +€27,331 | +26.7% |
| Amounts receivable within one year | 40/41 | €63,223 | €78,903 | +€15,681 | +24.8% |
| Trade receivables | 40 | €62,977 | €78,762 | +€15,785 | +25.1% |
| Other amounts receivable | 41 | €246 | €142 | -€105 | -42.5% |
| Current investments | 50/53 | €2,512 | €2,531 | +€19 | +0.8% |
| Cash at bank and in hand | 54/58 | €18,040 | €29,994 | +€11,954 | +66.3% |
| Deferred charges and accrued income | 490/1 | €18,555 | €18,232 | -€323 | -1.7% |
| Total equity and liabilities | 10/49 | €11,526,186 | €11,016,634 | -€509,552 | -4.4% |
| Equity | 10/15 | €2,564,878 | €2,893,668 | +€328,791 | +12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €466,798 | €457,707 | -€9,091 | -1.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €134,938 | €125,847 | -€9,091 | -6.7% |
| Distributable reserves | 133 | €331,860 | €331,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,079,480 | €2,417,361 | +€337,882 | +16.2% |
| Provisions and deferred taxes | 16 | €45,870 | €42,840 | -€3,030 | -6.6% |
| Deferred taxes | 168 | €45,870 | €42,840 | -€3,030 | -6.6% |
| Amounts payable | 17/49 | €8,915,439 | €8,080,126 | -€835,312 | -9.4% |
| Amounts payable after more than one year | 17 | €4,808,250 | €4,041,889 | -€766,361 | -15.9% |
| Financial debts | 170/4 | €4,808,250 | €4,041,889 | -€766,361 | -15.9% |
| Amounts payable within one year | 42/48 | €1,475,544 | €1,475,803 | +€259 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €253,919 | €257,654 | +€3,735 | +1.5% |
| Trade debts | 44 | €21,072 | €24,522 | +€3,450 | +16.4% |
| Suppliers | 440/4 | €21,072 | €24,522 | +€3,450 | +16.4% |
| Advances received on contracts in progress | 46 | €32,670 | €0 | -€32,670 | -100.0% |
| Taxes, remuneration and social security | 45 | €23,413 | €74,180 | +€50,766 | +216.8% |
| Taxes | 450/3 | €16,983 | €63,423 | +€46,440 | +273.5% |
| Remuneration and social security | 454/9 | €6,430 | €10,757 | +€4,327 | +67.3% |
| Other amounts payable | 47/48 | €1,144,470 | €1,119,447 | -€25,023 | -2.2% |
| Accrued charges and deferred income | 492/3 | €2,631,645 | €2,562,435 | -€69,210 | -2.6% |
| Non-recurring operating income | 76A | - | €18,271 | +€18,271 | |
| Remuneration, social security and pensions | 62 | €133,120 | €112,850 | -€20,270 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €563,888 | €536,883 | -€27,005 | -4.8% |
| Other operating charges | 640/8 | €17,355 | €33,572 | +€16,217 | +93.4% |
| Gross operating margin | 9900 | €635,776 | €1,313,510 | +€677,734 | +106.6% |
| Operating profit (loss) | 9901 | -€78,587 | €630,206 | +€708,792 | |
| Financial income | 75/76B | €9 | €78 | +€69 | +785.2% |
| Recurring financial income | 75 | €9 | €78 | +€69 | +785.2% |
| Financial charges | 65/66B | €144,664 | €244,962 | +€100,298 | +69.3% |
| Recurring financial charges | 65 | €144,664 | €244,962 | +€100,298 | +69.3% |
| Profit (loss) for the period before taxes | 9903 | -€223,242 | €385,321 | +€608,563 | |
| Transfer from deferred taxes | 780 | €0 | €3,030 | +€3,030 | |
| Income taxes | 67/77 | €593 | €59,561 | +€58,968 | +9942.3% |
| Profit (loss) for the period | 9904 | -€223,835 | €328,791 | +€552,626 | |
| Transfer from tax-exempt reserves | 789 | €0 | €9,091 | +€9,091 | |
| Profit (loss) for the period to be appropriated | 9905 | -€223,835 | €337,882 | +€561,717 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.