DANIEL BRANDT: 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.
DANIEL BRANDT
Largest movements
- Receivables within one year -€6,174
down €6,174 (-20.1%), from €30,697 to €24,523
of which Trade receivables: -€12,762
- Tangible fixed assets -€496
down €496 (-42.4%), from €1,172 to €676
- Cash -€396
down €396 (-23.7%), from €1,666 to €1,271
mainly Tax, wage and social debts (-€5,939) and Trade debts (-€682)
- Tax, wage and social debts -€5,939
down €5,939 (-84.8%), from €7,004 to €1,065
of which Taxes: -€3,939
- Trade debts -€682
no longer reported in 2025 (was €682)
- Other debts -€484
no longer reported in 2025 (was €484)
- Gross operating margin -€6,147
down €6,147 (-78.4%), from €7,835 to €1,689
- Other operating charges +€744
up €744 (+88.4%), from €842 to €1,586
- Financial income +€527
up €527 (+132.4%), from €398 to €926
- Depreciation -€400
down €400 (-44.6%), from €896 to €496
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 | €36,191 | €29,090 | -€7,101 | -19.6% |
| Fixed assets | 21/28 | €1,223 | €727 | -€496 | -40.6% |
| Tangible fixed assets | 22/27 | €1,172 | €676 | -€496 | -42.4% |
| Furniture and vehicles | 24 | €1,172 | €676 | -€496 | -42.4% |
| Financial fixed assets | 28 | €51 | €51 | = | 0.0% |
| Current assets | 29/58 | €34,968 | €28,363 | -€6,604 | -18.9% |
| Amounts receivable within one year | 40/41 | €30,697 | €24,523 | -€6,174 | -20.1% |
| Trade receivables | 40 | €15,947 | €3,185 | -€12,762 | -80.0% |
| Other amounts receivable | 41 | €14,750 | €21,338 | +€6,588 | +44.7% |
| Current investments | 50/53 | €35 | - | -€35 | |
| Cash at bank and in hand | 54/58 | €1,666 | €1,271 | -€396 | -23.7% |
| Deferred charges and accrued income | 490/1 | €2,569 | €2,569 | = | 0.0% |
| Total equity and liabilities | 10/49 | €36,191 | €29,090 | -€7,101 | -19.6% |
| Equity | 10/15 | €28,021 | €28,025 | +€4 | 0.0% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | €13,562 | €13,566 | +€4 | 0.0% |
| Amounts payable | 17/49 | €8,170 | €1,065 | -€7,105 | -87.0% |
| Amounts payable within one year | 42/48 | €8,170 | €1,065 | -€7,105 | -87.0% |
| Trade debts | 44 | €682 | - | -€682 | |
| Suppliers | 440/4 | €682 | - | -€682 | |
| Taxes, remuneration and social security | 45 | €7,004 | €1,065 | -€5,939 | -84.8% |
| Taxes | 450/3 | €5,004 | €1,065 | -€3,939 | -78.7% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €484 | - | -€484 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €896 | €496 | -€400 | -44.6% |
| Other operating charges | 640/8 | €842 | €1,586 | +€744 | +88.4% |
| Gross operating margin | 9900 | €7,835 | €1,689 | -€6,147 | -78.4% |
| Operating profit (loss) | 9901 | €6,097 | -€394 | -€6,491 | |
| Financial income | 75/76B | €398 | €926 | +€527 | +132.4% |
| Recurring financial income | 75 | €398 | €926 | +€527 | +132.4% |
| Financial charges | 65/66B | €488 | €528 | +€40 | +8.2% |
| Recurring financial charges | 65 | €488 | €528 | +€40 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €6,008 | €4 | -€6,004 | -99.9% |
| Profit (loss) for the period | 9904 | €6,008 | €4 | -€6,004 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,008 | €4 | -€6,004 | -99.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.