Brevet: 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.
Brevet
Largest movements
- Cash +€45,390
up €45,390 (+64.1%), from €70,811 to €116,201
mainly Net result for the year (+€49,044) and Depreciation (+€25,464)
- Tangible fixed assets +€41,387
up €41,387 (+57.9%), from €71,502 to €112,889
of which Furniture and vehicles: +€41,917
- Receivables within one year -€12,940
down €12,940 (-26.1%), from €49,568 to €36,628
of which Trade receivables: -€19,454
- Deferred charges and accrued income +€3,299
up €3,299 (+407%), from €810 to €4,109
- Reserves +€49,044
up €49,044 (+97.4%), from €50,348 to €99,392
- Debts after one year +€15,177
up €15,177 (+65.4%), from €23,191 to €38,368
- Tax, wage and social debts +€9,825
up €9,825 (+39.2%), from €25,052 to €34,877
of which Taxes: +€9,234
- Current portion of long-term debt +€9,753
up €9,753 (+124%), from €7,882 to €17,635
- Trade debts -€8,078
down €8,078 (-24.3%), from €33,257 to €25,179
- Gross operating margin +€74,343
up €74,343 (+64.4%), from €115,495 to €189,839
- Staff costs +€37,775
up €37,775 (+63.7%), from €59,257 to €97,032
- Depreciation +€15,127
up €15,127 (+146%), from €10,337 to €25,464
- Taxes +€5,326
up €5,326 (+65.0%), from €8,197 to €13,522
- Financial charges +€3,555
up €3,555 (+719%), from €495 to €4,049
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 | €192,690 | €269,826 | +€77,136 | +40.0% |
| Fixed assets | 21/28 | €71,502 | €112,889 | +€41,387 | +57.9% |
| Tangible fixed assets | 22/27 | €71,502 | €112,889 | +€41,387 | +57.9% |
| Plant, machinery and equipment | 23 | €2,292 | €1,762 | -€530 | -23.1% |
| Furniture and vehicles | 24 | €69,209 | €111,127 | +€41,917 | +60.6% |
| Current assets | 29/58 | €121,188 | €156,937 | +€35,749 | +29.5% |
| Amounts receivable within one year | 40/41 | €49,568 | €36,628 | -€12,940 | -26.1% |
| Trade receivables | 40 | €49,438 | €29,984 | -€19,454 | -39.4% |
| Other amounts receivable | 41 | €130 | €6,644 | +€6,514 | +5,030% |
| Cash at bank and in hand | 54/58 | €70,811 | €116,201 | +€45,390 | +64.1% |
| Deferred charges and accrued income | 490/1 | €810 | €4,109 | +€3,299 | +407% |
| Total equity and liabilities | 10/49 | €192,690 | €269,826 | +€77,136 | +40.0% |
| Equity | 10/15 | €65,348 | €114,392 | +€49,044 | +75.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €50,348 | €99,392 | +€49,044 | +97.4% |
| Distributable reserves | 133 | €50,348 | €99,392 | +€49,044 | +97.4% |
| Amounts payable | 17/49 | €127,342 | €155,434 | +€28,092 | +22.1% |
| Amounts payable after more than one year | 17 | €23,191 | €38,368 | +€15,177 | +65.4% |
| Financial debts | 170/4 | €23,191 | €38,368 | +€15,177 | +65.4% |
| Amounts payable within one year | 42/48 | €103,691 | €117,066 | +€13,374 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €7,882 | €17,635 | +€9,753 | +124% |
| Trade debts | 44 | €33,257 | €25,179 | -€8,078 | -24.3% |
| Suppliers | 440/4 | €33,257 | €25,179 | -€8,078 | -24.3% |
| Taxes, remuneration and social security | 45 | €25,052 | €34,877 | +€9,825 | +39.2% |
| Taxes | 450/3 | €21,811 | €31,045 | +€9,234 | +42.3% |
| Remuneration and social security | 454/9 | €3,241 | €3,831 | +€590 | +18.2% |
| Other amounts payable | 47/48 | €37,500 | €39,375 | +€1,875 | +5.0% |
| Accrued charges and deferred income | 492/3 | €460 | - | -€460 | |
| Remuneration, social security and pensions | 62 | €59,257 | €97,032 | +€37,775 | +63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,337 | €25,464 | +€15,127 | +146% |
| Other operating charges | 640/8 | €850 | €731 | -€119 | -14.0% |
| Gross operating margin | 9900 | €115,495 | €189,839 | +€74,343 | +64.4% |
| Operating profit (loss) | 9901 | €45,051 | €66,611 | +€21,560 | +47.9% |
| Financial income | 75/76B | €3 | €4 | +€1 | +49.7% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +49.7% |
| Financial charges | 65/66B | €495 | €4,049 | +€3,555 | +719% |
| Recurring financial charges | 65 | €495 | €4,049 | +€3,555 | +719% |
| Profit (loss) for the period before taxes | 9903 | €44,559 | €62,567 | +€18,007 | +40.4% |
| Income taxes | 67/77 | €8,197 | €13,522 | +€5,326 | +65.0% |
| Profit (loss) for the period | 9904 | €36,363 | €49,044 | +€12,682 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,363 | €49,044 | +€12,682 | +34.9% |
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 14 October 2026 via checked.be.