BRENU: 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.
BRENU
Largest movements
- Receivables within one year +€624,479
up €624,479 (+275.3%), from €226,846 to €851,325
of which Trade receivables: +€474,328
- Tangible fixed assets -€140,399
down €140,399 (-20.2%), from €694,158 to €553,759
of which Plant, machinery and equipment: -€102,337
- Cash +€69,382
up €69,382 (+74.2%), from €93,534 to €162,916
mainly Debts after one year (+€387,294) and Net result for the year (+€174,609)
- Debts after one year +€387,294
up €387,294 (+73.7%), from €525,388 to €912,682
of which Trade debts: +€502,476
- Other debts +€105,853
up €105,853 (+182.0%), from €58,147 to €164,000
- Tax, wage and social debts +€30,273
up €30,273 (+50.4%), from €60,099 to €90,372
of which Remuneration and social security: +€27,613
- Gross operating margin +€278,673
up €278,673 (+36.4%), from €764,592 to €1.0m
- Staff costs +€139,493
up €139,493 (+28.0%), from €498,618 to €638,111
- Other operating charges +€24,998
up €24,998 (+557.4%), from €4,485 to €29,482
- Taxes +€20,396
up €20,396 (+91.6%), from €22,269 to €42,665
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 | €1,466,736 | €2,003,484 | +€536,748 | +36.6% |
| Formation expenses | 20 | €3,539 | €198 | -€3,341 | -94.4% |
| Fixed assets | 21/28 | €694,158 | €553,759 | -€140,399 | -20.2% |
| Tangible fixed assets | 22/27 | €694,158 | €553,759 | -€140,399 | -20.2% |
| Plant, machinery and equipment | 23 | €315,729 | €213,392 | -€102,337 | -32.4% |
| Furniture and vehicles | 24 | €2,978 | €0 | -€2,978 | -100.0% |
| Other tangible fixed assets | 26 | €375,451 | €340,368 | -€35,083 | -9.3% |
| Current assets | 29/58 | €769,039 | €1,449,527 | +€680,488 | +88.5% |
| Stocks and contracts in progress | 3 | €442,420 | €427,145 | -€15,275 | -3.5% |
| Stocks | 30/36 | €442,420 | €427,145 | -€15,275 | -3.5% |
| Amounts receivable within one year | 40/41 | €226,846 | €851,325 | +€624,479 | +275.3% |
| Trade receivables | 40 | €164,536 | €638,864 | +€474,328 | +288.3% |
| Other amounts receivable | 41 | €62,310 | €212,461 | +€150,151 | +241.0% |
| Cash at bank and in hand | 54/58 | €93,534 | €162,916 | +€69,382 | +74.2% |
| Deferred charges and accrued income | 490/1 | €6,239 | €8,141 | +€1,902 | +30.5% |
| Total equity and liabilities | 10/49 | €1,466,736 | €2,003,484 | +€536,748 | +36.6% |
| Equity | 10/15 | €500,091 | €514,700 | +€14,609 | +2.9% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €300,091 | €314,700 | +€14,609 | +4.9% |
| Distributable reserves | 133 | €300,091 | €314,700 | +€14,609 | +4.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €966,645 | €1,488,784 | +€522,139 | +54.0% |
| Amounts payable after more than one year | 17 | €525,388 | €912,682 | +€387,294 | +73.7% |
| Financial debts | 170/4 | €402,531 | €287,349 | -€115,182 | -28.6% |
| Trade debts | 175 | €122,857 | €625,333 | +€502,476 | +409.0% |
| Amounts payable within one year | 42/48 | €432,441 | €567,316 | +€134,875 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €113,975 | €115,182 | +€1,207 | +1.1% |
| Trade debts | 44 | €200,221 | €197,763 | -€2,458 | -1.2% |
| Suppliers | 440/4 | €200,221 | €197,763 | -€2,458 | -1.2% |
| Taxes, remuneration and social security | 45 | €60,099 | €90,372 | +€30,273 | +50.4% |
| Taxes | 450/3 | - | €2,661 | +€2,661 | |
| Remuneration and social security | 454/9 | €60,099 | €87,711 | +€27,613 | +45.9% |
| Other amounts payable | 47/48 | €58,147 | €164,000 | +€105,853 | +182.0% |
| Accrued charges and deferred income | 492/3 | €8,816 | €8,786 | -€30 | -0.3% |
| Remuneration, social security and pensions | 62 | €498,618 | €638,111 | +€139,493 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,009 | €130,499 | +€490 | +0.4% |
| Other operating charges | 640/8 | €4,485 | €29,482 | +€24,998 | +557.4% |
| Gross operating margin | 9900 | €764,592 | €1,043,265 | +€278,673 | +36.4% |
| Operating profit (loss) | 9901 | €131,480 | €245,173 | +€113,692 | +86.5% |
| Financial income | 75/76B | €10,483 | €9,171 | -€1,312 | -12.5% |
| Recurring financial income | 75 | €10,483 | €9,171 | -€1,312 | -12.5% |
| Financial charges | 65/66B | €34,267 | €37,070 | +€2,803 | +8.2% |
| Recurring financial charges | 65 | €34,267 | €37,070 | +€2,803 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €107,697 | €217,274 | +€109,577 | +101.7% |
| Income taxes | 67/77 | €22,269 | €42,665 | +€20,396 | +91.6% |
| Profit (loss) for the period | 9904 | €85,427 | €174,609 | +€89,181 | +104.4% |
| Profit (loss) for the period to be appropriated | 9905 | €85,427 | €174,609 | +€89,181 | +104.4% |
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 4 October 2026 via checked.be.