DR. G. BRAL: what changed
Two financial 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. G. BRAL
Largest movements
- Current investments +€74,848
up €74,848 (+15.7%), from €475,843 to €550,692
- Cash +€21,175
up €21,175 (+11.0%), from €192,633 to €213,808
mainly Net result for the year (+€177,405) and Depreciation (+€32,529)
- Tangible fixed assets -€17,886
down €17,886 (-5.3%), from €337,549 to €319,663
of which Furniture and vehicles: -€9,707
- Reserves +€77,879
up €77,879 (+7.8%), from €1.0m to €1.1m
of which Distributable reserves: +€77,879
- Tax, wage and social debts +€17,741
up €17,741 (+78.6%), from €22,583 to €40,324
- Debts after one year -€16,250
down €16,250 (-17.9%), from €90,729 to €74,479
- Taxes +€5,126
up €5,126 (+6.4%), from €79,478 to €84,604
- Financial income +€5,024
up €5,024 (+84.9%), from €5,921 to €10,945
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.
Derived cash bridge
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 | €1,201,946 | €1,278,427 | +€76,480 | +6.4% |
| Fixed assets | 21/28 | €337,549 | €319,663 | -€17,886 | -5.3% |
| Tangible fixed assets | 22/27 | €337,549 | €319,663 | -€17,886 | -5.3% |
| Land and buildings | 22 | €291,953 | €284,264 | -€7,689 | -2.6% |
| Plant, machinery and equipment | 23 | €4,785 | €4,295 | -€490 | -10.2% |
| Furniture and vehicles | 24 | €36,961 | €27,254 | -€9,707 | -26.3% |
| Other tangible fixed assets | 26 | €3,850 | €3,850 | = | 0.0% |
| Current assets | 29/58 | €864,397 | €958,763 | +€94,366 | +10.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €191,910 | €188,024 | -€3,885 | -2.0% |
| Trade receivables | 40 | €70 | €8,480 | +€8,410 | +12,014% |
| Other amounts receivable | 41 | €191,840 | €179,544 | -€12,295 | -6.4% |
| Current investments | 50/53 | €475,843 | €550,692 | +€74,848 | +15.7% |
| Cash at bank and in hand | 54/58 | €192,633 | €213,808 | +€21,175 | +11.0% |
| Deferred charges and accrued income | 490/1 | €4,011 | €6,239 | +€2,228 | +55.6% |
| Total equity and liabilities | 10/49 | €1,201,946 | €1,278,427 | +€76,480 | +6.4% |
| Equity | 10/15 | €1,015,679 | €1,093,558 | +€77,879 | +7.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,003,279 | €1,081,158 | +€77,879 | +7.8% |
| Tax-exempt reserves | 132 | €20,788 | €20,788 | = | 0.0% |
| Distributable reserves | 133 | €982,491 | €1,060,370 | +€77,879 | +7.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €51,604 | €51,604 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €51,604 | €51,604 | = | 0.0% |
| Pensions and similar obligations | 160 | €51,604 | €51,604 | = | 0.0% |
| Amounts payable | 17/49 | €134,663 | €133,264 | -€1,399 | -1.0% |
| Amounts payable after more than one year | 17 | €90,729 | €74,479 | -€16,250 | -17.9% |
| Financial debts | 170/4 | €90,729 | €74,479 | -€16,250 | -17.9% |
| Amounts payable within one year | 42/48 | €43,853 | €58,786 | +€14,933 | +34.1% |
| Current portion of amounts payable after more than one year | 42 | €16,250 | €16,250 | = | 0.0% |
| Trade debts | 44 | €5,020 | €2,212 | -€2,808 | -55.9% |
| Suppliers | 440/4 | €5,020 | €2,212 | -€2,808 | -55.9% |
| Taxes, remuneration and social security | 45 | €22,583 | €40,324 | +€17,741 | +78.6% |
| Taxes | 450/3 | €22,583 | €40,324 | +€17,741 | +78.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €82 | €0 | -€82 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,902 | €32,529 | +€1,627 | +5.3% |
| Other operating charges | 640/8 | €3,645 | €3,825 | +€179 | +4.9% |
| Gross operating margin | 9900 | €290,674 | €292,063 | +€1,389 | +0.5% |
| Operating profit (loss) | 9901 | €256,127 | €255,709 | -€417 | -0.2% |
| Financial income | 75/76B | €5,921 | €10,945 | +€5,024 | +84.9% |
| Recurring financial income | 75 | €5,921 | €10,945 | +€5,024 | +84.9% |
| Financial charges | 65/66B | €2,169 | €4,646 | +€2,476 | +114% |
| Recurring financial charges | 65 | €2,169 | €4,646 | +€2,476 | +114% |
| Profit (loss) for the period before taxes | 9903 | €259,878 | €262,009 | +€2,130 | +0.8% |
| Income taxes | 67/77 | €79,478 | €84,604 | +€5,126 | +6.4% |
| Profit (loss) for the period | 9904 | €180,400 | €177,405 | -€2,995 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €180,400 | €177,405 | -€2,995 | -1.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.