HENRY BRASSEUR: 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.
HENRY BRASSEUR
Largest movements
- Deferred charges and accrued income +€149,505
new in 2025: €149,505
- Cash -€120,363
no longer reported in 2025 (was €120,363)
mainly Deferred charges and accrued income (-€149,505) and Trade debts (-€24,708)
- Tangible fixed assets -€26,810
down €26,810 (-34.8%), from €77,062 to €50,253
of which Furniture and vehicles: -€22,808
- Receivables within one year -€25,498
down €25,498 (-32.9%), from €77,399 to €51,901
of which Trade receivables: -€28,879
- Stocks and contracts -€12,988
down €12,988 (-9.9%), from €130,554 to €117,565
- Trade debts -€24,708
no longer reported in 2025 (was €24,708)
- Tax, wage and social debts -€6,188
down €6,188 (-43.6%), from €14,189 to €8,001
of which Taxes: -€6,188
- Other debts -€5,735
down €5,735 (-28.1%), from €20,389 to €14,654
- Profit (loss) carried forward +€4,733
up €4,733 (+8.8%), from €53,992 to €58,725
- Current portion of long-term debt -€4,254
no longer reported in 2025 (was €4,254)
- Gross operating margin -€31,697
down €31,697 (-24.7%), from €128,180 to €96,483
- Taxes -€10,184
down €10,184 (-86.3%), from €11,803 to €1,619
- Staff costs +€7,259
up €7,259 (+12.6%), from €57,736 to €64,995
- Financial charges -€1,865
down €1,865 (-21.0%), from €8,891 to €7,026
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 | €405,377 | €369,224 | -€36,153 | -8.9% |
| Fixed assets | 21/28 | €77,062 | €50,253 | -€26,810 | -34.8% |
| Tangible fixed assets | 22/27 | €77,062 | €50,253 | -€26,810 | -34.8% |
| Plant, machinery and equipment | 23 | €14,320 | €10,319 | -€4,001 | -27.9% |
| Furniture and vehicles | 24 | €62,742 | €39,934 | -€22,808 | -36.4% |
| Current assets | 29/58 | €328,315 | €318,971 | -€9,344 | -2.8% |
| Stocks and contracts in progress | 3 | €130,554 | €117,565 | -€12,988 | -9.9% |
| Stocks | 30/36 | €130,554 | €117,565 | -€12,988 | -9.9% |
| Amounts receivable within one year | 40/41 | €77,399 | €51,901 | -€25,498 | -32.9% |
| Trade receivables | 40 | €72,399 | €43,520 | -€28,879 | -39.9% |
| Other amounts receivable | 41 | €5,000 | €8,381 | +€3,381 | +67.6% |
| Cash at bank and in hand | 54/58 | €120,363 | - | -€120,363 | |
| Deferred charges and accrued income | 490/1 | - | €149,505 | +€149,505 | |
| Total equity and liabilities | 10/49 | €405,377 | €369,224 | -€36,153 | -8.9% |
| Equity | 10/15 | €273,692 | €278,425 | +€4,733 | +1.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €157,700 | €157,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €151,500 | €151,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,992 | €58,725 | +€4,733 | +8.8% |
| Amounts payable | 17/49 | €131,685 | €90,799 | -€40,886 | -31.0% |
| Amounts payable after more than one year | 17 | €68,144 | €68,144 | = | 0.0% |
| Other amounts payable | 178/9 | €68,144 | €68,144 | = | 0.0% |
| Amounts payable within one year | 42/48 | €63,541 | €22,655 | -€40,886 | -64.3% |
| Current portion of amounts payable after more than one year | 42 | €4,254 | - | -€4,254 | |
| Trade debts | 44 | €24,708 | - | -€24,708 | |
| Suppliers | 440/4 | €24,708 | - | -€24,708 | |
| Taxes, remuneration and social security | 45 | €14,189 | €8,001 | -€6,188 | -43.6% |
| Taxes | 450/3 | €10,273 | €4,085 | -€6,188 | -60.2% |
| Remuneration and social security | 454/9 | €3,916 | €3,916 | = | 0.0% |
| Other amounts payable | 47/48 | €20,389 | €14,654 | -€5,735 | -28.1% |
| Remuneration, social security and pensions | 62 | €57,736 | €64,995 | +€7,259 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,280 | €22,386 | +€105 | +0.5% |
| Other operating charges | 640/8 | €676 | €427 | -€249 | -36.8% |
| Gross operating margin | 9900 | €128,180 | €96,483 | -€31,697 | -24.7% |
| Operating profit (loss) | 9901 | €47,486 | €8,674 | -€38,812 | -81.7% |
| Financial income | 75/76B | €5,052 | €4,703 | -€349 | -6.9% |
| Recurring financial income | 75 | €4,942 | €4,657 | -€285 | -5.8% |
| Non-recurring financial income | 76B | €111 | €46 | -€64 | -58.4% |
| Financial charges | 65/66B | €8,891 | €7,026 | -€1,865 | -21.0% |
| Recurring financial charges | 65 | €8,891 | €7,026 | -€1,865 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €43,648 | €6,352 | -€37,296 | -85.4% |
| Income taxes | 67/77 | €11,803 | €1,619 | -€10,184 | -86.3% |
| Profit (loss) for the period | 9904 | €31,845 | €4,733 | -€27,112 | -85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,845 | €4,733 | -€27,112 | -85.1% |
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 23 October 2026 via checked.be.