CECILIA BRAMBILLA: what changed
CECILIA BRAMBILLA
Largest movements
- Cash +€118,698
up €118,698 (+46.4%), from €255,664 to €374,362
mainly Net result for the year (+€145,071) and Other debts (+€125,000)
- Current investments +€82,706
up €82,706 (+40.6%), from €203,574 to €286,280
- Tangible fixed assets -€34,380
down €34,380 (-6.7%), from €513,075 to €478,695
of which Land and buildings: -€24,503
- Receivables within one year -€24,961
down €24,961 (-73.9%), from €33,761 to €8,800
- Other debts +€125,000
new in 2025: €125,000
- Tax, wage and social debts +€45,664
up €45,664 (+117%), from €38,872 to €84,536
- Debts after one year -€20,469
down €20,469 (-17.7%), from €115,646 to €95,177
- Reserves -€17,357
down €17,357 (-3.0%), from €580,447 to €563,090
of which Distributable reserves: -€17,357
- Gross operating margin +€23,231
up €23,231 (+9.8%), from €238,015 to €261,246
- Taxes +€13,632
up €13,632 (+23.8%), from €57,379 to €71,011
- Other operating charges -€5,945
down €5,945 (-45.6%), from €13,032 to €7,087
- Depreciation -€5,039
down €5,039 (-12.8%), from €39,419 to €34,380
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,008,245 | €1,149,866 | +€141,620 | +14.0% |
| Fixed assets | 21/28 | €513,075 | €478,695 | -€34,380 | -6.7% |
| Tangible fixed assets | 22/27 | €513,075 | €478,695 | -€34,380 | -6.7% |
| Land and buildings | 22 | €474,820 | €450,317 | -€24,503 | -5.2% |
| Plant, machinery and equipment | 23 | €24,692 | €21,046 | -€3,646 | -14.8% |
| Furniture and vehicles | 24 | €13,564 | €7,333 | -€6,231 | -45.9% |
| Current assets | 29/58 | €495,170 | €671,170 | +€176,000 | +35.5% |
| Amounts receivable within one year | 40/41 | €33,761 | €8,800 | -€24,961 | -73.9% |
| Other amounts receivable | 41 | €33,761 | €8,800 | -€24,961 | -73.9% |
| Current investments | 50/53 | €203,574 | €286,280 | +€82,706 | +40.6% |
| Cash at bank and in hand | 54/58 | €255,664 | €374,362 | +€118,698 | +46.4% |
| Deferred charges and accrued income | 490/1 | €2,171 | €1,729 | -€442 | -20.4% |
| Total equity and liabilities | 10/49 | €1,008,245 | €1,149,866 | +€141,620 | +14.0% |
| Equity | 10/15 | €830,619 | €813,262 | -€17,357 | -2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €580,447 | €563,090 | -€17,357 | -3.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €120 | €120 | = | 0.0% |
| Distributable reserves | 133 | €578,467 | €561,110 | -€17,357 | -3.0% |
| Profit (loss) carried forward | 14 | €231,572 | €231,572 | = | 0.0% |
| Amounts payable | 17/49 | €177,627 | €336,604 | +€158,977 | +89.5% |
| Amounts payable after more than one year | 17 | €115,646 | €95,177 | -€20,469 | -17.7% |
| Financial debts | 170/4 | €115,646 | €95,177 | -€20,469 | -17.7% |
| Amounts payable within one year | 42/48 | €61,981 | €241,427 | +€179,446 | +290% |
| Current portion of amounts payable after more than one year | 42 | €22,063 | €22,887 | +€824 | +3.7% |
| Trade debts | 44 | €1,046 | €9,004 | +€7,958 | +761% |
| Suppliers | 440/4 | €1,046 | €9,004 | +€7,958 | +761% |
| Taxes, remuneration and social security | 45 | €38,872 | €84,536 | +€45,664 | +117% |
| Taxes | 450/3 | €38,872 | €84,536 | +€45,664 | +117% |
| Other amounts payable | 47/48 | - | €125,000 | +€125,000 | |
| Remuneration, social security and pensions | 62 | - | €99 | +€99 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,419 | €34,380 | -€5,039 | -12.8% |
| Other operating charges | 640/8 | €13,032 | €7,087 | -€5,945 | -45.6% |
| Gross operating margin | 9900 | €238,015 | €261,246 | +€23,231 | +9.8% |
| Operating profit (loss) | 9901 | €185,564 | €219,680 | +€34,116 | +18.4% |
| Financial income | 75/76B | €1,184 | €1,524 | +€340 | +28.7% |
| Recurring financial income | 75 | €1,184 | €1,524 | +€340 | +28.7% |
| Financial charges | 65/66B | €6,176 | €5,121 | -€1,055 | -17.1% |
| Recurring financial charges | 65 | €6,176 | €5,121 | -€1,055 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €180,571 | €216,082 | +€35,511 | +19.7% |
| Income taxes | 67/77 | €57,379 | €71,011 | +€13,632 | +23.8% |
| Profit (loss) for the period | 9904 | €123,192 | €145,071 | +€21,879 | +17.8% |
| Transfer from tax-exempt reserves | 789 | - | €162,428 | +€162,428 | |
| Profit (loss) for the period to be appropriated | 9905 | €123,192 | €307,500 | +€184,308 | +150% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.