BRETINI: 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.
BRETINI
Largest movements
- Cash -€20,657
down €20,657 (-50.1%), from €41,193 to €20,537
mainly Investment in fixed assets (net) (-€42,001) and Debts after one year (-€19,641)
- Tangible fixed assets +€4,211
up €4,211 (+1.7%), from €254,247 to €258,458
of which Land and buildings: +€19,200
- Debts after one year -€19,641
down €19,641 (-14.0%), from €140,251 to €120,610
- Reserves +€17,107
up €17,107 (+21.8%), from €78,457 to €95,563
- Other debts -€13,668
down €13,668 (-47.1%), from €29,001 to €15,332
- Financial charges +€4,235
up €4,235 (+43.0%), from €9,859 to €14,094
- Depreciation +€3,592
up €3,592 (+10.5%), from €34,198 to €37,790
- Taxes -€2,555
down €2,555 (-20.3%), from €12,570 to €10,015
- Gross operating margin -€1,398
down €1,398 (-1.4%), from €97,830 to €96,432
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.
Derived cash bridge
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 | €308,767 | €288,552 | -€20,215 | -6.5% |
| Fixed assets | 21/28 | €254,247 | €258,458 | +€4,211 | +1.7% |
| Tangible fixed assets | 22/27 | €254,247 | €258,458 | +€4,211 | +1.7% |
| Land and buildings | 22 | €171,865 | €191,065 | +€19,200 | +11.2% |
| Plant, machinery and equipment | 23 | €24,001 | €25,253 | +€1,252 | +5.2% |
| Furniture and vehicles | 24 | €7,296 | €6,577 | -€720 | -9.9% |
| Leasing and similar rights | 25 | €51,085 | €35,563 | -€15,522 | -30.4% |
| Current assets | 29/58 | €54,520 | €30,094 | -€24,426 | -44.8% |
| Stocks and contracts in progress | 3 | €9,678 | €7,813 | -€1,865 | -19.3% |
| Stocks | 30/36 | €9,678 | €7,813 | -€1,865 | -19.3% |
| Amounts receivable within one year | 40/41 | - | €807 | +€807 | |
| Other amounts receivable | 41 | - | €807 | +€807 | |
| Cash at bank and in hand | 54/58 | €41,193 | €20,537 | -€20,657 | -50.1% |
| Deferred charges and accrued income | 490/1 | €3,649 | €937 | -€2,712 | -74.3% |
| Total equity and liabilities | 10/49 | €308,767 | €288,552 | -€20,215 | -6.5% |
| Equity | 10/15 | €78,457 | €95,563 | +€17,107 | +21.8% |
| Reserves | 13 | €78,457 | €95,563 | +€17,107 | +21.8% |
| Distributable reserves | 133 | €78,457 | €95,563 | +€17,107 | +21.8% |
| Amounts payable | 17/49 | €230,311 | €192,989 | -€37,322 | -16.2% |
| Amounts payable after more than one year | 17 | €140,251 | €120,610 | -€19,641 | -14.0% |
| Financial debts | 170/4 | €140,251 | €120,610 | -€19,641 | -14.0% |
| Amounts payable within one year | 42/48 | €90,059 | €72,379 | -€17,680 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €34,126 | €34,654 | +€527 | +1.5% |
| Trade debts | 44 | €8,319 | €6,780 | -€1,540 | -18.5% |
| Suppliers | 440/4 | €8,319 | €6,780 | -€1,540 | -18.5% |
| Taxes, remuneration and social security | 45 | €18,613 | €15,613 | -€3,000 | -16.1% |
| Taxes | 450/3 | €15,489 | €15,084 | -€404 | -2.6% |
| Remuneration and social security | 454/9 | €3,125 | €529 | -€2,596 | -83.1% |
| Other amounts payable | 47/48 | €29,001 | €15,332 | -€13,668 | -47.1% |
| Non-recurring operating income | 76A | - | €19,140 | +€19,140 | |
| Remuneration, social security and pensions | 62 | €7,836 | €8,649 | +€812 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,198 | €37,790 | +€3,592 | +10.5% |
| Other operating charges | 640/8 | €3,976 | €3,915 | -€61 | -1.5% |
| Non-recurring operating charges | 66A | - | €4,868 | +€4,868 | |
| Gross operating margin | 9900 | €97,830 | €96,432 | -€1,398 | -1.4% |
| Operating profit (loss) | 9901 | €51,820 | €41,211 | -€10,609 | -20.5% |
| Financial income | 75/76B | €40 | €5 | -€35 | -88.5% |
| Recurring financial income | 75 | €40 | €5 | -€35 | -88.5% |
| Financial charges | 65/66B | €9,859 | €14,094 | +€4,235 | +43.0% |
| Recurring financial charges | 65 | €9,859 | €14,094 | +€4,235 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €42,001 | €27,122 | -€14,879 | -35.4% |
| Income taxes | 67/77 | €12,570 | €10,015 | -€2,555 | -20.3% |
| Profit (loss) for the period | 9904 | €29,431 | €17,107 | -€12,324 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,431 | €17,107 | -€12,324 | -41.9% |
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 28 October 2026 via checked.be.