Dr H. BRESSAND: 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 H. BRESSAND
Largest movements
- Receivables within one year -€240,483
down €240,483 (-57.0%), from €422,211 to €181,728
- Deferred charges and accrued income +€44,670
up €44,670 (+162%), from €27,496 to €72,166
- Cash -€44,008
down €44,008 (-70.5%), from €62,404 to €18,396
mainly Contributions, distributions and other (-€220,000) and Other debts (-€180,000)
- Other debts -€180,000
down €180,000 (-45.0%), from €400,000 to €220,000
- Trade debts -€27,321
down €27,321 (-94.8%), from €28,817 to €1,496
- Tax, wage and social debts -€12,039
down €12,039 (-64.1%), from €18,789 to €6,750
- Profit (loss) carried forward -€11,755
down €11,755 (-52.9%), from €22,216 to €10,461
- Gross operating margin +€50,636
up €50,636 (+23.0%), from €219,966 to €270,602
- Financial income -€11,048
down €11,048 (-58.0%), from €19,059 to €8,011
- Taxes +€10,809
up €10,809 (+20.4%), from €53,116 to €63,926
- Other operating charges -€4,773
down €4,773 (-78.6%), from €6,069 to €1,296
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 | €533,447 | €301,982 | -€231,465 | -43.4% |
| Fixed assets | 21/28 | €1,050 | €4,667 | +€3,617 | +344% |
| Tangible fixed assets | 22/27 | €1,050 | €4,667 | +€3,617 | +344% |
| Plant, machinery and equipment | 23 | €246 | €123 | -€123 | -50.0% |
| Furniture and vehicles | 24 | €804 | €4,544 | +€3,740 | +465% |
| Current assets | 29/58 | €532,397 | €297,315 | -€235,081 | -44.2% |
| Stocks and contracts in progress | 3 | €20,286 | €25,025 | +€4,739 | +23.4% |
| Stocks | 30/36 | €20,286 | €25,025 | +€4,739 | +23.4% |
| Amounts receivable within one year | 40/41 | €422,211 | €181,728 | -€240,483 | -57.0% |
| Other amounts receivable | 41 | €422,211 | €181,728 | -€240,483 | -57.0% |
| Cash at bank and in hand | 54/58 | €62,404 | €18,396 | -€44,008 | -70.5% |
| Deferred charges and accrued income | 490/1 | €27,496 | €72,166 | +€44,670 | +162% |
| Total equity and liabilities | 10/49 | €533,447 | €301,982 | -€231,465 | -43.4% |
| Equity | 10/15 | €42,676 | €30,921 | -€11,755 | -27.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,216 | €10,461 | -€11,755 | -52.9% |
| Amounts payable | 17/49 | €490,771 | €271,061 | -€219,710 | -44.8% |
| Amounts payable within one year | 42/48 | €490,364 | €270,963 | -€219,400 | -44.7% |
| Current portion of amounts payable after more than one year | 42 | €42,757 | €42,717 | -€40 | -0.1% |
| Trade debts | 44 | €28,817 | €1,496 | -€27,321 | -94.8% |
| Suppliers | 440/4 | €28,817 | €1,496 | -€27,321 | -94.8% |
| Taxes, remuneration and social security | 45 | €18,789 | €6,750 | -€12,039 | -64.1% |
| Remuneration and social security | 454/9 | €18,789 | €6,750 | -€12,039 | -64.1% |
| Other amounts payable | 47/48 | €400,000 | €220,000 | -€180,000 | -45.0% |
| Accrued charges and deferred income | 492/3 | €408 | €98 | -€310 | -76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,007 | €1,008 | +€1 | +0.1% |
| Other operating charges | 640/8 | €6,069 | €1,296 | -€4,773 | -78.6% |
| Gross operating margin | 9900 | €219,966 | €270,602 | +€50,636 | +23.0% |
| Operating profit (loss) | 9901 | €212,890 | €268,298 | +€55,408 | +26.0% |
| Financial income | 75/76B | €19,059 | €8,011 | -€11,048 | -58.0% |
| Recurring financial income | 75 | €19,059 | €8,011 | -€11,048 | -58.0% |
| Financial charges | 65/66B | €3,050 | €4,138 | +€1,088 | +35.7% |
| Recurring financial charges | 65 | €3,050 | €4,138 | +€1,088 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €228,899 | €272,171 | +€43,272 | +18.9% |
| Income taxes | 67/77 | €53,116 | €63,926 | +€10,809 | +20.4% |
| Profit (loss) for the period | 9904 | €175,783 | €208,245 | +€32,462 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €175,783 | €208,245 | +€32,462 | +18.5% |
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 1 November 2026 via checked.be.