BRIERS: 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.
BRIERS
Largest movements
- Tangible fixed assets -€12,038
down €12,038 (-4.3%), from €280,026 to €267,988
of which Plant, machinery and equipment: -€9,950
- Receivables within one year -€10,089
down €10,089 (-10.2%), from €98,838 to €88,749
of which Trade receivables: -€16,611
- Cash -€6,894
down €6,894 (-70.1%), from €9,834 to €2,941
mainly Debts after one year (-€30,594) and Investment in fixed assets (net) (-€27,204)
- Debts after one year -€30,594
down €30,594 (-11.2%), from €272,224 to €241,630
- Other debts -€10,712
down €10,712 (-16.1%), from €66,347 to €55,635
- Current portion of long-term debt +€7,150
up €7,150 (+30.5%), from €23,444 to €30,594
- Gross operating margin -€27,477
down €27,477 (-30.1%), from €91,321 to €63,844
- Depreciation +€4,913
up €4,913 (+14.3%), from €34,330 to €39,242
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 | €421,710 | €389,397 | -€32,313 | -7.7% |
| Fixed assets | 21/28 | €280,026 | €267,988 | -€12,038 | -4.3% |
| Tangible fixed assets | 22/27 | €280,026 | €267,988 | -€12,038 | -4.3% |
| Land and buildings | 22 | €87,847 | €87,048 | -€799 | -0.9% |
| Plant, machinery and equipment | 23 | €185,276 | €175,326 | -€9,950 | -5.4% |
| Furniture and vehicles | 24 | €6,903 | €5,614 | -€1,290 | -18.7% |
| Current assets | 29/58 | €141,683 | €121,409 | -€20,275 | -14.3% |
| Amounts receivable within one year | 40/41 | €98,838 | €88,749 | -€10,089 | -10.2% |
| Trade receivables | 40 | €98,838 | €82,227 | -€16,611 | -16.8% |
| Other amounts receivable | 41 | - | €6,521 | +€6,521 | |
| Cash at bank and in hand | 54/58 | €9,834 | €2,941 | -€6,894 | -70.1% |
| Deferred charges and accrued income | 490/1 | €33,011 | €29,719 | -€3,292 | -10.0% |
| Total equity and liabilities | 10/49 | €421,710 | €389,397 | -€32,313 | -7.7% |
| Equity | 10/15 | -€3,692 | -€242 | +€3,450 | +93.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,152 | -€20,702 | +€3,450 | +14.3% |
| Amounts payable | 17/49 | €425,402 | €389,639 | -€35,763 | -8.4% |
| Amounts payable after more than one year | 17 | €272,224 | €241,630 | -€30,594 | -11.2% |
| Financial debts | 170/4 | €272,224 | €241,630 | -€30,594 | -11.2% |
| Amounts payable within one year | 42/48 | €152,418 | €148,009 | -€4,410 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €23,444 | €30,594 | +€7,150 | +30.5% |
| Trade debts | 44 | €59,388 | €60,372 | +€983 | +1.7% |
| Suppliers | 440/4 | €59,388 | €60,372 | +€983 | +1.7% |
| Taxes, remuneration and social security | 45 | €3,240 | €1,408 | -€1,832 | -56.5% |
| Taxes | 450/3 | €3,240 | €1,408 | -€1,832 | -56.5% |
| Other amounts payable | 47/48 | €66,347 | €55,635 | -€10,712 | -16.1% |
| Accrued charges and deferred income | 492/3 | €760 | - | -€760 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,330 | €39,242 | +€4,913 | +14.3% |
| Other operating charges | 640/8 | €1,236 | €662 | -€574 | -46.4% |
| Gross operating margin | 9900 | €91,321 | €63,844 | -€27,477 | -30.1% |
| Operating profit (loss) | 9901 | €55,755 | €23,939 | -€31,816 | -57.1% |
| Financial income | 75/76B | - | €115 | +€115 | |
| Recurring financial income | 75 | - | €115 | +€115 | |
| Financial charges | 65/66B | €20,492 | €20,358 | -€134 | -0.7% |
| Recurring financial charges | 65 | €20,492 | €20,358 | -€134 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €35,263 | €3,696 | -€31,567 | -89.5% |
| Income taxes | 67/77 | €152 | €246 | +€94 | +61.7% |
| Profit (loss) for the period | 9904 | €35,110 | €3,450 | -€31,660 | -90.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,110 | €3,450 | -€31,660 | -90.2% |
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 10 October 2026 via checked.be.