JOHAN DE BRABANDT: 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.
JOHAN DE BRABANDT
Largest movements
- Cash +€687,865
up €687,865 (+62.2%), from €1.1m to €1.8m
mainly Current investments (+€585,407) and Net result for the year (+€88,649)
- Current investments -€585,407
down €585,407 (-61.1%), from €957,392 to €371,985
- Tangible fixed assets -€27,317
down €27,317 (-71.2%), from €38,384 to €11,067
of which Land and buildings: -€26,409
- Reserves +€88,649
up €88,649 (+5.2%), from €1.7m to €1.8m
of which Distributable reserves: +€88,649
- Other operating charges -€51,684
down €51,684 (-94.0%), from €54,962 to €3,279
- Gross operating margin -€33,053
down €33,053 (-20.2%), from €163,558 to €130,505
- Financial income -€8,517
down €8,517 (-21.3%), from €40,053 to €31,536
- Taxes -€7,913
down €7,913 (-15.7%), from €50,555 to €42,642
- Financial charges -€1,709
down €1,709 (-91.7%), from €1,863 to €154
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 | €2,116,070 | €2,190,605 | +€74,535 | +3.5% |
| Fixed assets | 21/28 | €38,384 | €11,067 | -€27,317 | -71.2% |
| Tangible fixed assets | 22/27 | €38,384 | €11,067 | -€27,317 | -71.2% |
| Land and buildings | 22 | €36,603 | €10,195 | -€26,409 | -72.1% |
| Plant, machinery and equipment | 23 | €1,017 | €509 | -€509 | -50.0% |
| Furniture and vehicles | 24 | €763 | €364 | -€400 | -52.4% |
| Current assets | 29/58 | €2,077,686 | €2,179,538 | +€101,852 | +4.9% |
| Amounts receivable within one year | 40/41 | - | €13,362 | +€13,362 | |
| Trade receivables | 40 | - | €100 | +€100 | |
| Other amounts receivable | 41 | - | €13,262 | +€13,262 | |
| Current investments | 50/53 | €957,392 | €371,985 | -€585,407 | -61.1% |
| Cash at bank and in hand | 54/58 | €1,106,326 | €1,794,192 | +€687,865 | +62.2% |
| Deferred charges and accrued income | 490/1 | €13,968 | - | -€13,968 | |
| Total equity and liabilities | 10/49 | €2,116,070 | €2,190,605 | +€74,535 | +3.5% |
| Equity | 10/15 | €1,736,902 | €1,825,552 | +€88,649 | +5.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,718,352 | €1,807,002 | +€88,649 | +5.2% |
| Non-distributable reserves | 130/1 | €116,500 | €116,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €116,500 | €116,500 | = | 0.0% |
| Distributable reserves | 133 | €1,601,852 | €1,690,502 | +€88,649 | +5.5% |
| Amounts payable | 17/49 | €379,168 | €365,054 | -€14,114 | -3.7% |
| Amounts payable within one year | 42/48 | €378,200 | €363,409 | -€14,792 | -3.9% |
| Trade debts | 44 | - | €2,775 | +€2,775 | |
| Suppliers | 440/4 | - | €2,775 | +€2,775 | |
| Taxes, remuneration and social security | 45 | €13,815 | - | -€13,815 | |
| Taxes | 450/3 | €13,815 | - | -€13,815 | |
| Other amounts payable | 47/48 | €364,385 | €360,633 | -€3,752 | -1.0% |
| Accrued charges and deferred income | 492/3 | €968 | €1,645 | +€677 | +70.0% |
| Non-recurring operating income | 76A | €8,613 | €5,300 | -€3,313 | -38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,890 | €27,317 | -€1,573 | -5.4% |
| Other operating charges | 640/8 | €54,962 | €3,279 | -€51,684 | -94.0% |
| Gross operating margin | 9900 | €163,558 | €130,505 | -€33,053 | -20.2% |
| Operating profit (loss) | 9901 | €79,706 | €99,909 | +€20,203 | +25.3% |
| Financial income | 75/76B | €40,053 | €31,536 | -€8,517 | -21.3% |
| Recurring financial income | 75 | €40,053 | €31,536 | -€8,517 | -21.3% |
| Financial charges | 65/66B | €1,863 | €154 | -€1,709 | -91.7% |
| Recurring financial charges | 65 | €1,863 | €154 | -€1,709 | -91.7% |
| Profit (loss) for the period before taxes | 9903 | €117,895 | €131,291 | +€13,395 | +11.4% |
| Income taxes | 67/77 | €50,555 | €42,642 | -€7,913 | -15.7% |
| Profit (loss) for the period | 9904 | €67,341 | €88,649 | +€21,308 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,341 | €88,649 | +€21,308 | +31.6% |
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 20 October 2026 via checked.be.