BRERA: 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.
BRERA
Largest movements
- Receivables within one year +€53,136
up €53,136 (+7700.8%), from €690 to €53,826
of which Trade receivables: +€52,025
- Receivables after one year -€50,000
down €50,000 (-45.5%), from €110,000 to €60,000
- Cash -€12,148
down €12,148 (-45.3%), from €26,844 to €14,696
mainly Receivables within one year (-€53,136) and Short-term financial debts (-€49,903)
- Intangible fixed assets -€9,711
down €9,711 (-18.3%), from €53,157 to €43,446
- Other debts +€52,547
up €52,547 (+86.3%), from €60,886 to €113,433
- Short-term financial debts -€49,903
down €49,903 (-99.8%), from €50,000 to €97
- Debts after one year -€31,923
down €31,923 (-12.9%), from €247,824 to €215,901
- Financial charges +€6,160
up €6,160 (+36.7%), from €16,804 to €22,964
- Gross operating margin +€3,343
up €3,343 (+7.7%), from €43,300 to €46,644
- Other operating charges +€521
up €521 (+104.3%), from €499 to €1,020
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 | €724,491 | €703,606 | -€20,885 | -2.9% |
| Fixed assets | 21/28 | €576,957 | €564,705 | -€12,252 | -2.1% |
| Intangible fixed assets | 21 | €53,157 | €43,446 | -€9,711 | -18.3% |
| Tangible fixed assets | 22/27 | €7,626 | €5,085 | -€2,541 | -33.3% |
| Plant, machinery and equipment | 23 | €5,266 | €3,769 | -€1,496 | -28.4% |
| Furniture and vehicles | 24 | €2,360 | €1,315 | -€1,044 | -44.3% |
| Financial fixed assets | 28 | €516,174 | €516,174 | = | 0.0% |
| Current assets | 29/58 | €147,534 | €138,901 | -€8,634 | -5.9% |
| Amounts receivable after more than one year | 29 | €110,000 | €60,000 | -€50,000 | -45.5% |
| Other amounts receivable | 291 | €110,000 | €60,000 | -€50,000 | -45.5% |
| Stocks and contracts in progress | 3 | €10,000 | €10,000 | = | 0.0% |
| Stocks | 30/36 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €690 | €53,826 | +€53,136 | +7700.8% |
| Trade receivables | 40 | €690 | €52,715 | +€52,025 | +7539.8% |
| Other amounts receivable | 41 | - | €1,111 | +€1,111 | |
| Cash at bank and in hand | 54/58 | €26,844 | €14,696 | -€12,148 | -45.3% |
| Deferred charges and accrued income | 490/1 | - | €379 | +€379 | |
| Total equity and liabilities | 10/49 | €724,491 | €703,606 | -€20,885 | -2.9% |
| Equity | 10/15 | €161,166 | €166,324 | +€5,158 | +3.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €91,166 | €96,324 | +€5,158 | +5.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €89,166 | €94,324 | +€5,158 | +5.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €563,325 | €537,281 | -€26,043 | -4.6% |
| Amounts payable after more than one year | 17 | €247,824 | €215,901 | -€31,923 | -12.9% |
| Financial debts | 170/4 | €247,824 | €215,901 | -€31,923 | -12.9% |
| Amounts payable within one year | 42/48 | €315,501 | €321,381 | +€5,880 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €30,153 | €31,923 | +€1,770 | +5.9% |
| Financial debts | 43 | €50,000 | €97 | -€49,903 | -99.8% |
| Credit institutions | 430/8 | €50,000 | €97 | -€49,903 | -99.8% |
| Trade debts | 44 | €26,883 | €25,732 | -€1,152 | -4.3% |
| Suppliers | 440/4 | €26,883 | €25,732 | -€1,152 | -4.3% |
| Advances received on contracts in progress | 46 | €96,000 | €95,285 | -€715 | -0.7% |
| Taxes, remuneration and social security | 45 | €51,578 | €54,910 | +€3,332 | +6.5% |
| Taxes | 450/3 | €51,578 | €54,910 | +€3,332 | +6.5% |
| Other amounts payable | 47/48 | €60,886 | €113,433 | +€52,547 | +86.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,120 | €12,252 | +€132 | +1.1% |
| Other operating charges | 640/8 | €499 | €1,020 | +€521 | +104.3% |
| Gross operating margin | 9900 | €43,300 | €46,644 | +€3,343 | +7.7% |
| Operating profit (loss) | 9901 | €30,681 | €33,372 | +€2,691 | +8.8% |
| Financial income | 75/76B | €3,375 | €3,384 | +€9 | +0.3% |
| Recurring financial income | 75 | €3,375 | €3,384 | +€9 | +0.3% |
| Financial charges | 65/66B | €16,804 | €22,964 | +€6,160 | +36.7% |
| Recurring financial charges | 65 | €16,804 | €22,964 | +€6,160 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €17,252 | €13,792 | -€3,460 | -20.1% |
| Income taxes | 67/77 | €8,938 | €8,634 | -€304 | -3.4% |
| Profit (loss) for the period | 9904 | €8,313 | €5,158 | -€3,155 | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,313 | €5,158 | -€3,155 | -38.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.