De Brandt: what changed
De Brandt
Largest movements
- Receivables within one year -€153,688
down €153,688 (-73.3%), from €209,753 to €56,065
of which Trade receivables: -€99,531
- Cash -€107,265
down €107,265 (-65.4%), from €164,120 to €56,854
mainly Other debts (-€146,843) and Net result for the year (-€55,729)
- Tangible fixed assets -€18,715
down €18,715 (-10.7%), from €174,967 to €156,253
of which Furniture and vehicles: -€15,937
- Stocks and contracts +€14,204
up €14,204 (+21.5%), from €66,000 to €80,204
of which Contracts in progress: +€13,710
- Other debts -€146,843
down €146,843 (-74.2%), from €197,982 to €51,139
- Reserves -€69,087
down €69,087 (-33.6%), from €205,805 to €136,719
- Debts after one year -€30,311
down €30,311 (-20.8%), from €145,966 to €115,655
- Tax, wage and social debts -€12,083
down €12,083 (-79.0%), from €15,292 to €3,210
of which Taxes: -€12,551
- Gross operating margin -€79,796
down €79,796 (-59.1%), from €135,099 to €55,303
- Staff costs -€36,973
down €36,973 (-34.5%), from €107,161 to €70,188
- Write-downs -€19,242
down €19,242 (-100%), from €19,242 to €0
- Financial charges -€4,385
down €4,385 (-59.0%), from €7,427 to €3,042
- Depreciation +€2,334
up €2,334 (+6.8%), from €34,352 to €36,686
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 | €618,832 | €360,719 | -€258,112 | -41.7% |
| Fixed assets | 21/28 | €175,215 | €159,020 | -€16,195 | -9.2% |
| Tangible fixed assets | 22/27 | €174,967 | €156,253 | -€18,715 | -10.7% |
| Land and buildings | 22 | €32,000 | €26,667 | -€5,333 | -16.7% |
| Plant, machinery and equipment | 23 | €7,494 | €7,213 | -€282 | -3.8% |
| Furniture and vehicles | 24 | €135,473 | €119,535 | -€15,937 | -11.8% |
| Other tangible fixed assets | 26 | €0 | €2,838 | +€2,838 | |
| Financial fixed assets | 28 | €248 | €2,768 | +€2,520 | +1,017% |
| Current assets | 29/58 | €443,616 | €201,699 | -€241,918 | -54.5% |
| Stocks and contracts in progress | 3 | €66,000 | €80,204 | +€14,204 | +21.5% |
| Stocks | 30/36 | €48,500 | €48,994 | +€494 | +1.0% |
| Contracts in progress | 37 | €17,500 | €31,210 | +€13,710 | +78.3% |
| Amounts receivable within one year | 40/41 | €209,753 | €56,065 | -€153,688 | -73.3% |
| Trade receivables | 40 | €136,235 | €36,704 | -€99,531 | -73.1% |
| Other amounts receivable | 41 | €73,518 | €19,361 | -€54,157 | -73.7% |
| Cash at bank and in hand | 54/58 | €164,120 | €56,854 | -€107,265 | -65.4% |
| Deferred charges and accrued income | 490/1 | €3,744 | €8,575 | +€4,831 | +129% |
| Total equity and liabilities | 10/49 | €618,832 | €360,719 | -€258,112 | -41.7% |
| Equity | 10/15 | €224,805 | €155,719 | -€69,087 | -30.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €205,805 | €136,719 | -€69,087 | -33.6% |
| Distributable reserves | 133 | €205,805 | €136,719 | -€69,087 | -33.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €394,026 | €205,000 | -€189,026 | -48.0% |
| Amounts payable after more than one year | 17 | €145,966 | €115,655 | -€30,311 | -20.8% |
| Financial debts | 170/4 | €145,966 | €115,655 | -€30,311 | -20.8% |
| Amounts payable within one year | 42/48 | €248,060 | €89,346 | -€158,714 | -64.0% |
| Current portion of amounts payable after more than one year | 42 | €29,840 | €30,311 | +€471 | +1.6% |
| Trade debts | 44 | €4,946 | €4,686 | -€260 | -5.3% |
| Suppliers | 440/4 | €4,946 | €4,686 | -€260 | -5.3% |
| Taxes, remuneration and social security | 45 | €15,292 | €3,210 | -€12,083 | -79.0% |
| Taxes | 450/3 | €13,260 | €709 | -€12,551 | -94.7% |
| Remuneration and social security | 454/9 | €2,033 | €2,501 | +€468 | +23.0% |
| Other amounts payable | 47/48 | €197,982 | €51,139 | -€146,843 | -74.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €7,989 | €0 | -€7,989 | -100% |
| Remuneration, social security and pensions | 62 | €107,161 | €70,188 | -€36,973 | -34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,352 | €36,686 | +€2,334 | +6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,242 | €0 | -€19,242 | -100% |
| Other operating charges | 640/8 | €4,459 | €3,224 | -€1,235 | -27.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €135,099 | €55,303 | -€79,796 | -59.1% |
| Operating profit (loss) | 9901 | -€30,115 | -€54,795 | -€24,680 | -82.0% |
| Financial income | 75/76B | €3,157 | €2,036 | -€1,121 | -35.5% |
| Recurring financial income | 75 | €3,157 | €2,036 | -€1,121 | -35.5% |
| Financial charges | 65/66B | €7,427 | €3,042 | -€4,385 | -59.0% |
| Recurring financial charges | 65 | €7,427 | €3,042 | -€4,385 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | -€34,385 | -€55,800 | -€21,415 | -62.3% |
| Income taxes | 67/77 | €320 | -€71 | -€391 | |
| Profit (loss) for the period | 9904 | -€34,704 | -€55,729 | -€21,025 | -60.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,704 | -€55,729 | -€21,025 | -60.6% |
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 7 November 2026 via checked.be.