DR. VAN BRAECKEL L.: 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. VAN BRAECKEL L.
Largest movements
- Tangible fixed assets +€575,859
up €575,859 (+150%), from €383,876 to €959,735
of which Land and buildings: +€667,108
- Cash -€72,470
down €72,470 (-88.2%), from €82,164 to €9,695
mainly Investment in fixed assets (net) (-€676,942) and Receivables after one year (-€47,898)
- Receivables after one year +€47,898
up €47,898 (+2.4%), from €2.0m to €2.1m
- Debts after one year +€266,000
new in 2025: €266,000
- Reserves +€195,835
up €195,835 (+7.2%), from €2.7m to €2.9m
of which Distributable reserves: +€195,835
- Current portion of long-term debt +€120,000
new in 2025: €120,000
- Depreciation +€74,284
up €74,284 (+277%), from €26,799 to €101,083
- Taxes -€17,545
down €17,545 (-17.5%), from €100,096 to €82,551
- Gross operating margin +€16,382
up €16,382 (+5.4%), from €305,119 to €321,501
- Financial income +€4,263
up €4,263 (+8.0%), from €53,587 to €57,850
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 | €2,801,248 | €3,353,675 | +€552,426 | +19.7% |
| Fixed assets | 21/28 | €386,165 | €962,024 | +€575,859 | +149% |
| Tangible fixed assets | 22/27 | €383,876 | €959,735 | +€575,859 | +150% |
| Land and buildings | 22 | €265,465 | €932,573 | +€667,108 | +251% |
| Plant, machinery and equipment | 23 | €114,429 | €25,092 | -€89,337 | -78.1% |
| Furniture and vehicles | 24 | €3,982 | €2,070 | -€1,912 | -48.0% |
| Financial fixed assets | 28 | €2,289 | €2,289 | = | 0.0% |
| Current assets | 29/58 | €2,415,083 | €2,391,650 | -€23,433 | -1.0% |
| Amounts receivable after more than one year | 29 | €2,026,526 | €2,074,424 | +€47,898 | +2.4% |
| Other amounts receivable | 291 | €2,026,526 | €2,074,424 | +€47,898 | +2.4% |
| Amounts receivable within one year | 40/41 | €2,862 | €5,354 | +€2,492 | +87.1% |
| Trade receivables | 40 | €2,862 | €5,115 | +€2,253 | +78.7% |
| Other amounts receivable | 41 | - | €239 | +€239 | |
| Current investments | 50/53 | €300,200 | €300,000 | -€200 | -0.1% |
| Cash at bank and in hand | 54/58 | €82,164 | €9,695 | -€72,470 | -88.2% |
| Deferred charges and accrued income | 490/1 | €3,331 | €2,178 | -€1,153 | -34.6% |
| Total equity and liabilities | 10/49 | €2,801,248 | €3,353,675 | +€552,426 | +19.7% |
| Equity | 10/15 | €2,763,090 | €2,956,332 | +€193,243 | +7.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €2,734,498 | €2,930,332 | +€195,835 | +7.2% |
| Tax-exempt reserves | 132 | €864 | €864 | = | 0.0% |
| Distributable reserves | 133 | €2,733,634 | €2,929,469 | +€195,835 | +7.2% |
| Profit (loss) carried forward | 14 | €2,592 | - | -€2,592 | |
| Amounts payable | 17/49 | €38,159 | €397,342 | +€359,184 | +941% |
| Amounts payable after more than one year | 17 | - | €266,000 | +€266,000 | |
| Financial debts | 170/4 | - | €266,000 | +€266,000 | |
| Amounts payable within one year | 42/48 | €37,379 | €130,562 | +€93,184 | +249% |
| Current portion of amounts payable after more than one year | 42 | - | €120,000 | +€120,000 | |
| Trade debts | 44 | €1,502 | €339 | -€1,163 | -77.5% |
| Suppliers | 440/4 | €1,502 | €339 | -€1,163 | -77.5% |
| Taxes, remuneration and social security | 45 | €25,566 | €5,100 | -€20,466 | -80.1% |
| Taxes | 450/3 | €25,566 | - | -€25,566 | |
| Remuneration and social security | 454/9 | - | €5,100 | +€5,100 | |
| Other amounts payable | 47/48 | €10,311 | €5,124 | -€5,187 | -50.3% |
| Accrued charges and deferred income | 492/3 | €780 | €780 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,799 | €101,083 | +€74,284 | +277% |
| Other operating charges | 640/8 | €1,991 | €2,152 | +€161 | +8.1% |
| Gross operating margin | 9900 | €305,119 | €321,501 | +€16,382 | +5.4% |
| Operating profit (loss) | 9901 | €276,329 | €218,267 | -€58,063 | -21.0% |
| Financial income | 75/76B | €53,587 | €57,850 | +€4,263 | +8.0% |
| Recurring financial income | 75 | €53,587 | €57,850 | +€4,263 | +8.0% |
| Financial charges | 65/66B | €330 | €323 | -€8 | -2.3% |
| Recurring financial charges | 65 | €330 | €323 | -€8 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €329,586 | €275,794 | -€53,792 | -16.3% |
| Income taxes | 67/77 | €100,096 | €82,551 | -€17,545 | -17.5% |
| Profit (loss) for the period | 9904 | €229,490 | €193,243 | -€36,247 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €229,490 | €193,243 | -€36,247 | -15.8% |
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 31 October 2026 via checked.be.