DE BRECHTSE: 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.
DE BRECHTSE
Largest movements
- Cash +€107,427
up €107,427 (+347.3%), from €30,935 to €138,362
mainly Investment in fixed assets (net) (+€47,429) and Net result for the year (+€41,041)
- Tangible fixed assets -€55,360
down €55,360 (-16.7%), from €331,627 to €276,267
of which Land and buildings: -€50,022
- Receivables within one year -€7,945
down €7,945 (-12.8%), from €61,988 to €54,043
- Profit (loss) carried forward +€25,225
up €25,225 (+23.3%), from €108,290 to €133,515
- Reserves +€15,816
up €15,816 (+127.3%), from €12,420 to €28,236
of which Tax-exempt reserves: +€15,816
- Gross operating margin +€38,267
up €38,267 (+154.1%), from €24,836 to €63,103
- Taxes -€3,625
down €3,625 (-46.8%), from €7,745 to €4,120
- Depreciation -€2,564
down €2,564 (-24.4%), from €10,495 to €7,931
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 | €424,550 | €468,672 | +€44,122 | +10.4% |
| Fixed assets | 21/28 | €331,627 | €276,267 | -€55,360 | -16.7% |
| Tangible fixed assets | 22/27 | €331,627 | €276,267 | -€55,360 | -16.7% |
| Land and buildings | 22 | €324,891 | €274,869 | -€50,022 | -15.4% |
| Plant, machinery and equipment | 23 | €6,736 | €1,398 | -€5,338 | -79.2% |
| Current assets | 29/58 | €92,923 | €192,405 | +€99,482 | +107.1% |
| Amounts receivable within one year | 40/41 | €61,988 | €54,043 | -€7,945 | -12.8% |
| Other amounts receivable | 41 | €61,988 | €54,043 | -€7,945 | -12.8% |
| Cash at bank and in hand | 54/58 | €30,935 | €138,362 | +€107,427 | +347.3% |
| Total equity and liabilities | 10/49 | €424,550 | €468,672 | +€44,122 | +10.4% |
| Equity | 10/15 | €300,010 | €341,051 | +€41,041 | +13.7% |
| Contributions | 10/11 | €179,300 | €179,300 | = | 0.0% |
| Reserves | 13 | €12,420 | €28,236 | +€15,816 | +127.3% |
| Non-distributable reserves | 130/1 | €12,420 | €12,420 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,420 | €12,420 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €15,816 | +€15,816 | |
| Profit (loss) carried forward | 14 | €108,290 | €133,515 | +€25,225 | +23.3% |
| Provisions and deferred taxes | 16 | - | €3,954 | +€3,954 | |
| Deferred taxes | 168 | - | €3,954 | +€3,954 | |
| Amounts payable | 17/49 | €124,540 | €123,667 | -€873 | -0.7% |
| Amounts payable after more than one year | 17 | €104,209 | €104,209 | = | 0.0% |
| Financial debts | 170/4 | €104,209 | €104,209 | = | 0.0% |
| Amounts payable within one year | 42/48 | €20,331 | €19,458 | -€873 | -4.3% |
| Trade debts | 44 | €1,563 | €1,504 | -€59 | -3.8% |
| Suppliers | 440/4 | €1,563 | €1,504 | -€59 | -3.8% |
| Other amounts payable | 47/48 | €18,768 | €17,954 | -€814 | -4.3% |
| Non-recurring operating income | 76A | - | €19,770 | +€19,770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,495 | €7,931 | -€2,564 | -24.4% |
| Other operating charges | 640/8 | €5,840 | €5,864 | +€24 | +0.4% |
| Gross operating margin | 9900 | €24,836 | €63,103 | +€38,267 | +154.1% |
| Operating profit (loss) | 9901 | €8,501 | €49,308 | +€40,807 | +480.0% |
| Financial income | 75/76B | €177 | €59 | -€118 | -66.7% |
| Recurring financial income | 75 | €177 | €59 | -€118 | -66.7% |
| Financial charges | 65/66B | €132 | €252 | +€120 | +90.9% |
| Recurring financial charges | 65 | €132 | €252 | +€120 | +90.9% |
| Profit (loss) for the period before taxes | 9903 | €8,546 | €49,115 | +€40,569 | +474.7% |
| Transfer to deferred taxes | 680 | - | €3,954 | +€3,954 | |
| Income taxes | 67/77 | €7,745 | €4,120 | -€3,625 | -46.8% |
| Profit (loss) for the period | 9904 | €801 | €41,041 | +€40,240 | +5023.7% |
| Transfer to tax-exempt reserves | 689 | - | €15,816 | +€15,816 | |
| Profit (loss) for the period to be appropriated | 9905 | €801 | €25,225 | +€24,424 | +3049.2% |
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 6 October 2026 via checked.be.