Dr. Brack: 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.
Dr. Brack
Largest movements
- Current investments +€78,048
up €78,048 (+79.0%), from €98,780 to €176,829
- Cash -€53,669
down €53,669 (-44.4%), from €120,911 to €67,242
mainly Current investments (-€78,048) and Contributions, distributions and other (-€45,738)
- Tangible fixed assets -€17,423
down €17,423 (-12.8%), from €135,943 to €118,520
of which Furniture and vehicles: -€24,344
- Other debts +€8,842
up €8,842 (+23.7%), from €37,293 to €46,134
- Reserves +€5,978
up €5,978 (+1.8%), from €340,555 to €346,533
- Tax, wage and social debts -€5,921
down €5,921 (-72.3%), from €8,188 to €2,267
of which Taxes: -€6,157
- Gross operating margin -€11,255
down €11,255 (-6.9%), from €162,154 to €150,899
- Financial income +€3,706
up €3,706 (+3222.3%), from €115 to €3,821
- Staff costs -€3,135
down €3,135 (-13.8%), from €22,779 to €19,643
- Other operating charges +€1,887
up €1,887 (+67.3%), from €2,802 to €4,690
- Taxes -€1,671
down €1,671 (-5.7%), from €29,167 to €27,496
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 | €405,932 | €414,386 | +€8,453 | +2.1% |
| Fixed assets | 21/28 | €135,943 | €118,520 | -€17,423 | -12.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €135,943 | €118,520 | -€17,423 | -12.8% |
| Land and buildings | 22 | €8,985 | €6,999 | -€1,986 | -22.1% |
| Plant, machinery and equipment | 23 | €20,211 | €11,368 | -€8,843 | -43.8% |
| Furniture and vehicles | 24 | €106,747 | €82,403 | -€24,344 | -22.8% |
| Other tangible fixed assets | 26 | - | €17,750 | +€17,750 | |
| Current assets | 29/58 | €269,989 | €295,866 | +€25,877 | +9.6% |
| Amounts receivable within one year | 40/41 | €46,154 | €48,733 | +€2,579 | +5.6% |
| Trade receivables | 40 | €46,124 | €46,124 | = | 0.0% |
| Other amounts receivable | 41 | €30 | €2,609 | +€2,579 | +8596.8% |
| Current investments | 50/53 | €98,780 | €176,829 | +€78,048 | +79.0% |
| Cash at bank and in hand | 54/58 | €120,911 | €67,242 | -€53,669 | -44.4% |
| Deferred charges and accrued income | 490/1 | €4,144 | €3,062 | -€1,082 | -26.1% |
| Total equity and liabilities | 10/49 | €405,932 | €414,386 | +€8,453 | +2.1% |
| Equity | 10/15 | €359,804 | €365,782 | +€5,978 | +1.7% |
| Reserves | 13 | €340,555 | €346,533 | +€5,978 | +1.8% |
| Distributable reserves | 133 | €340,555 | €346,533 | +€5,978 | +1.8% |
| Profit (loss) carried forward | 14 | €19,249 | €19,249 | = | 0.0% |
| Amounts payable | 17/49 | €46,128 | €48,603 | +€2,475 | +5.4% |
| Amounts payable within one year | 42/48 | €46,128 | €48,603 | +€2,475 | +5.4% |
| Trade debts | 44 | €648 | €202 | -€446 | -68.8% |
| Suppliers | 440/4 | €648 | €202 | -€446 | -68.8% |
| Taxes, remuneration and social security | 45 | €8,188 | €2,267 | -€5,921 | -72.3% |
| Taxes | 450/3 | €6,157 | - | -€6,157 | |
| Remuneration and social security | 454/9 | €2,031 | €2,267 | +€237 | +11.7% |
| Other amounts payable | 47/48 | €37,293 | €46,134 | +€8,842 | +23.7% |
| Remuneration, social security and pensions | 62 | €22,779 | €19,643 | -€3,135 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,743 | €38,061 | +€319 | +0.8% |
| Other operating charges | 640/8 | €2,802 | €4,690 | +€1,887 | +67.3% |
| Non-recurring operating charges | 66A | €2,100 | €10,400 | +€8,300 | +395.2% |
| Gross operating margin | 9900 | €162,154 | €150,899 | -€11,255 | -6.9% |
| Operating profit (loss) | 9901 | €96,730 | €78,104 | -€18,626 | -19.3% |
| Financial income | 75/76B | €115 | €3,821 | +€3,706 | +3222.3% |
| Recurring financial income | 75 | €115 | €3,821 | +€3,706 | +3222.3% |
| Financial charges | 65/66B | €2,331 | €2,713 | +€382 | +16.4% |
| Recurring financial charges | 65 | €2,331 | €2,713 | +€382 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €94,514 | €79,212 | -€15,302 | -16.2% |
| Income taxes | 67/77 | €29,167 | €27,496 | -€1,671 | -5.7% |
| Profit (loss) for the period | 9904 | €65,347 | €51,716 | -€13,631 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,347 | €51,716 | -€13,631 | -20.9% |
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 4 October 2026 via checked.be.