BRIERS: 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.
BRIERS
Largest movements
- Receivables within one year -€66,019
down €66,019 (-62.3%), from €105,891 to €39,873
of which Trade receivables: -€45,430
- Tangible fixed assets -€58,527
down €58,527 (-10.5%), from €557,389 to €498,862
of which Land and buildings: -€53,629
- Stocks and contracts -€37,750
down €37,750 (-15.6%), from €242,046 to €204,295
- Debts after one year -€59,290
down €59,290 (-20.5%), from €289,189 to €229,899
- Profit (loss) carried forward -€47,053
down €47,053 (-44.7%), from -€105,169 to -€152,223
- Other debts -€38,770
down €38,770 (-20.4%), from €190,336 to €151,566
- Current portion of long-term debt -€20,793
down €20,793 (-26.0%), from €80,083 to €59,290
- Tax, wage and social debts +€14,841
up €14,841 (+46.9%), from €31,676 to €46,518
of which Remuneration and social security: +€13,506
- Gross operating margin -€64,206
down €64,206 (-22.7%), from €282,313 to €218,107
- Staff costs -€19,520
down €19,520 (-11.0%), from €176,874 to €157,354
- Write-downs +€3,755
no longer reported in 2025 (was -€3,755)
- Depreciation -€3,619
down €3,619 (-4.8%), from €74,713 to €71,094
- Other operating charges -€3,187
down €3,187 (-27.1%), from €11,776 to €8,589
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 | €925,352 | €771,041 | -€154,311 | -16.7% |
| Fixed assets | 21/28 | €566,754 | €508,227 | -€58,527 | -10.3% |
| Tangible fixed assets | 22/27 | €557,389 | €498,862 | -€58,527 | -10.5% |
| Land and buildings | 22 | €533,970 | €480,341 | -€53,629 | -10.0% |
| Plant, machinery and equipment | 23 | €3,933 | €11,676 | +€7,743 | +196.9% |
| Furniture and vehicles | 24 | €8,082 | €5,472 | -€2,611 | -32.3% |
| Leasing and similar rights | 25 | €11,404 | €1,374 | -€10,030 | -88.0% |
| Financial fixed assets | 28 | €9,365 | €9,365 | = | 0.0% |
| Current assets | 29/58 | €358,598 | €262,814 | -€95,784 | -26.7% |
| Stocks and contracts in progress | 3 | €242,046 | €204,295 | -€37,750 | -15.6% |
| Stocks | 30/36 | €242,046 | €204,295 | -€37,750 | -15.6% |
| Amounts receivable within one year | 40/41 | €105,891 | €39,873 | -€66,019 | -62.3% |
| Trade receivables | 40 | €79,873 | €34,443 | -€45,430 | -56.9% |
| Other amounts receivable | 41 | €26,018 | €5,430 | -€20,588 | -79.1% |
| Cash at bank and in hand | 54/58 | €6,630 | €8,485 | +€1,855 | +28.0% |
| Deferred charges and accrued income | 490/1 | €4,031 | €10,161 | +€6,130 | +152.1% |
| Total equity and liabilities | 10/49 | €925,352 | €771,041 | -€154,311 | -16.7% |
| Equity | 10/15 | €67,542 | €20,488 | -€47,053 | -69.7% |
| Contributions | 10/11 | €116,000 | €116,000 | = | 0.0% |
| Reserves | 13 | €56,711 | €56,711 | = | 0.0% |
| Distributable reserves | 133 | €56,711 | €56,711 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,169 | -€152,223 | -€47,053 | -44.7% |
| Amounts payable | 17/49 | €857,810 | €750,552 | -€107,258 | -12.5% |
| Amounts payable after more than one year | 17 | €289,189 | €229,899 | -€59,290 | -20.5% |
| Financial debts | 170/4 | €289,189 | €229,899 | -€59,290 | -20.5% |
| Amounts payable within one year | 42/48 | €564,755 | €517,187 | -€47,568 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €80,083 | €59,290 | -€20,793 | -26.0% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €112,660 | €109,814 | -€2,846 | -2.5% |
| Suppliers | 440/4 | €112,660 | €109,814 | -€2,846 | -2.5% |
| Taxes, remuneration and social security | 45 | €31,676 | €46,518 | +€14,841 | +46.9% |
| Taxes | 450/3 | €22,349 | €23,685 | +€1,336 | +6.0% |
| Remuneration and social security | 454/9 | €9,327 | €22,833 | +€13,506 | +144.8% |
| Other amounts payable | 47/48 | €190,336 | €151,566 | -€38,770 | -20.4% |
| Accrued charges and deferred income | 492/3 | €3,866 | €3,466 | -€400 | -10.3% |
| Remuneration, social security and pensions | 62 | €176,874 | €157,354 | -€19,520 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,713 | €71,094 | -€3,619 | -4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,755 | - | +€3,755 | |
| Other operating charges | 640/8 | €11,776 | €8,589 | -€3,187 | -27.1% |
| Non-recurring operating charges | 66A | €906 | - | -€906 | |
| Gross operating margin | 9900 | €282,313 | €218,107 | -€64,206 | -22.7% |
| Operating profit (loss) | 9901 | €21,798 | -€18,930 | -€40,729 | |
| Financial income | 75/76B | €36 | €27 | -€8 | -22.9% |
| Recurring financial income | 75 | €36 | €27 | -€8 | -22.9% |
| Financial charges | 65/66B | €29,678 | €27,649 | -€2,029 | -6.8% |
| Recurring financial charges | 65 | €29,678 | €27,649 | -€2,029 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,844 | -€46,553 | -€38,708 | -493.4% |
| Income taxes | 67/77 | €181 | €501 | +€320 | +177.5% |
| Profit (loss) for the period | 9904 | -€8,025 | -€47,053 | -€39,028 | -486.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,025 | -€47,053 | -€39,028 | -486.3% |
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 8 October 2026 via checked.be.