BRUSSELS GIFTS: 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.
BRUSSELS GIFTS
Largest movements
- Financial fixed assets +€1.6m
up €1.6m (+1,154%), from €135,976 to €1.7m
- Cash -€362,720
down €362,720 (-66.4%), from €546,477 to €183,757
mainly Investment in fixed assets (net) (-€1.6m) and Receivables within one year (-€235,682)
- Receivables within one year +€235,682
up €235,682 (+150%), from €157,076 to €392,758
of which Trade receivables: +€139,574
- Stocks and contracts +€88,265
up €88,265 (+23.2%), from €380,431 to €468,696
- Debts after one year +€1.2m
new in 2025: €1.2m
of which Financial debts: +€1.1m
- Profit (loss) carried forward +€188,830
up €188,830 (+29.1%), from €649,437 to €838,267
- Trade debts +€162,364
up €162,364 (+44.8%), from €362,041 to €524,405
- Current portion of long-term debt +€132,658
new in 2025: €132,658
- Other debts -€87,188
down €87,188 (-78.4%), from €111,179 to €23,992
- Staff costs +€123,407
up €123,407 (+25.6%), from €481,991 to €605,398
- Taxes -€57,297
down €57,297 (-46.8%), from €122,462 to €65,165
- Financial charges +€37,595
up €37,595 (+730%), from €5,152 to €42,747
of which Financial charges: +€37,263
- Gross operating margin -€16,750
down €16,750 (-1.7%), from €976,468 to €959,717
- Depreciation +€11,654
up €11,654 (+29.1%), from €40,047 to €51,701
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 | €1,432,649 | €2,986,342 | +€1.6m | +108% |
| Fixed assets | 21/28 | €348,665 | €1,941,131 | +€1.6m | +457% |
| Tangible fixed assets | 22/27 | €212,689 | €235,981 | +€23,292 | +11.0% |
| Furniture and vehicles | 24 | €21,841 | €28,026 | +€6,184 | +28.3% |
| Other tangible fixed assets | 26 | €190,848 | €207,955 | +€17,107 | +9.0% |
| Financial fixed assets | 28 | €135,976 | €1,705,150 | +€1.6m | +1,154% |
| Current assets | 29/58 | €1,083,984 | €1,045,211 | -€38,773 | -3.6% |
| Stocks and contracts in progress | 3 | €380,431 | €468,696 | +€88,265 | +23.2% |
| Stocks | 30/36 | €380,431 | €468,696 | +€88,265 | +23.2% |
| Amounts receivable within one year | 40/41 | €157,076 | €392,758 | +€235,682 | +150% |
| Trade receivables | 40 | €137,073 | €276,647 | +€139,574 | +102% |
| Other amounts receivable | 41 | €20,003 | €116,111 | +€96,108 | +480% |
| Cash at bank and in hand | 54/58 | €546,477 | €183,757 | -€362,720 | -66.4% |
| Total equity and liabilities | 10/49 | €1,432,649 | €2,986,342 | +€1.6m | +108% |
| Equity | 10/15 | €670,337 | €859,167 | +€188,830 | +28.2% |
| Contributions | 10/11 | €19,000 | €20,900 | +€1,900 | +10.0% |
| Reserves | 13 | €1,900 | - | -€1,900 | |
| Non-distributable reserves | 130/1 | €1,900 | - | -€1,900 | |
| Reserves not available under the articles | 1311 | €1,900 | - | -€1,900 | |
| Profit (loss) carried forward | 14 | €649,437 | €838,267 | +€188,830 | +29.1% |
| Amounts payable | 17/49 | €762,312 | €2,127,175 | +€1.4m | +179% |
| Amounts payable after more than one year | 17 | - | €1,171,912 | +€1.2m | |
| Financial debts | 170/4 | - | €1,122,012 | +€1.1m | |
| Other amounts payable | 178/9 | - | €49,900 | +€49,900 | |
| Amounts payable within one year | 42/48 | €749,797 | €955,263 | +€205,465 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | - | €132,658 | +€132,658 | |
| Trade debts | 44 | €362,041 | €524,405 | +€162,364 | +44.8% |
| Suppliers | 440/4 | €362,041 | €524,405 | +€162,364 | +44.8% |
| Taxes, remuneration and social security | 45 | €276,577 | €274,207 | -€2,369 | -0.9% |
| Taxes | 450/3 | €202,332 | €187,627 | -€14,705 | -7.3% |
| Remuneration and social security | 454/9 | €74,244 | €86,580 | +€12,335 | +16.6% |
| Other amounts payable | 47/48 | €111,179 | €23,992 | -€87,188 | -78.4% |
| Accrued charges and deferred income | 492/3 | €12,515 | - | -€12,515 | |
| Remuneration, social security and pensions | 62 | €481,991 | €605,398 | +€123,407 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,047 | €51,701 | +€11,654 | +29.1% |
| Other operating charges | 640/8 | €799 | €6,112 | +€5,313 | +665% |
| Gross operating margin | 9900 | €976,468 | €959,717 | -€16,750 | -1.7% |
| Operating profit (loss) | 9901 | €453,631 | €296,507 | -€157,124 | -34.6% |
| Financial income | 75/76B | €195 | €235 | +€40 | +20.3% |
| Recurring financial income | 75 | €195 | €235 | +€40 | +20.3% |
| Financial charges | 65/66B | €5,152 | €42,747 | +€37,595 | +730% |
| Recurring financial charges | 65 | €5,152 | €42,415 | +€37,263 | +723% |
| Non-recurring financial charges | 66B | - | €332 | +€332 | |
| Profit (loss) for the period before taxes | 9903 | €448,675 | €253,995 | -€194,680 | -43.4% |
| Income taxes | 67/77 | €122,462 | €65,165 | -€57,297 | -46.8% |
| Profit (loss) for the period | 9904 | €326,213 | €188,830 | -€137,383 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €326,213 | €188,830 | -€137,383 | -42.1% |
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 30 October 2026 via checked.be.