LE BRAZIER: what changed
Two fiscal 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.
LE BRAZIER
Largest movements
- Tangible fixed assets -€30,043
down €30,043 (-20.7%), from €144,874 to €114,831
of which Other tangible fixed assets: -€38,885
- Receivables within one year -€24,460
down €24,460 (-81.7%), from €29,943 to €5,483
of which Other amounts receivable: -€23,761
- Cash +€15,772
up €15,772 (+313.6%), from €5,030 to €20,802
mainly Depreciation (+€48,660) and Receivables within one year (+€24,460)
- Stocks and contracts -€6,271
down €6,271 (-28.3%), from €22,132 to €15,861
- Profit (loss) carried forward -€60,150
down €60,150 (-9.6%), from -€627,850 to -€688,000
- Trade debts -€18,745
down €18,745 (-39.1%), from €47,924 to €29,178
- Debts after one year +€14,664
up €14,664 (+2.8%), from €521,000 to €535,664
of which Other amounts payable: +€10,000
- Other debts +€12,138
up €12,138 (+5.6%), from €215,605 to €227,743
- Current portion of long-term debt +€5,089
new in 2025: €5,089
- Gross operating margin +€80,431
up €80,431 (+43.8%), from €183,752 to €264,183
- Staff costs +€50,759
up €50,759 (+23.2%), from €218,576 to €269,335
- Financial charges -€3,159
down €3,159 (-48.8%), from €6,476 to €3,318
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.
Cash bridge derived
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 | €203,443 | €160,360 | -€43,083 | -21.2% |
| Fixed assets | 21/28 | €144,874 | €115,882 | -€28,992 | -20.0% |
| Tangible fixed assets | 22/27 | €144,874 | €114,831 | -€30,043 | -20.7% |
| Furniture and vehicles | 24 | €27,399 | €28,383 | +€984 | +3.6% |
| Leasing and similar rights | 25 | - | €7,858 | +€7,858 | |
| Other tangible fixed assets | 26 | €117,475 | €78,590 | -€38,885 | -33.1% |
| Financial fixed assets | 28 | - | €1,051 | +€1,051 | |
| Current assets | 29/58 | €58,568 | €44,478 | -€14,091 | -24.1% |
| Stocks and contracts in progress | 3 | €22,132 | €15,861 | -€6,271 | -28.3% |
| Stocks | 30/36 | €22,132 | €15,861 | -€6,271 | -28.3% |
| Amounts receivable within one year | 40/41 | €29,943 | €5,483 | -€24,460 | -81.7% |
| Trade receivables | 40 | €6,182 | €5,483 | -€699 | -11.3% |
| Other amounts receivable | 41 | €23,761 | - | -€23,761 | |
| Cash at bank and in hand | 54/58 | €5,030 | €20,802 | +€15,772 | +313.6% |
| Deferred charges and accrued income | 490/1 | €1,464 | €2,333 | +€869 | +59.3% |
| Total equity and liabilities | 10/49 | €203,443 | €160,360 | -€43,083 | -21.2% |
| Equity | 10/15 | -€609,250 | -€669,400 | -€60,150 | -9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€627,850 | -€688,000 | -€60,150 | -9.6% |
| Amounts payable | 17/49 | €812,693 | €829,760 | +€17,067 | +2.1% |
| Amounts payable after more than one year | 17 | €521,000 | €535,664 | +€14,664 | +2.8% |
| Financial debts | 170/4 | - | €4,664 | +€4,664 | |
| Other amounts payable | 178/9 | €521,000 | €531,000 | +€10,000 | +1.9% |
| Amounts payable within one year | 42/48 | €291,693 | €294,096 | +€2,403 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | - | €5,089 | +€5,089 | |
| Trade debts | 44 | €47,924 | €29,178 | -€18,745 | -39.1% |
| Suppliers | 440/4 | €47,924 | €29,178 | -€18,745 | -39.1% |
| Advances received on contracts in progress | 46 | €370 | €130 | -€240 | -64.9% |
| Taxes, remuneration and social security | 45 | €27,795 | €31,956 | +€4,162 | +15.0% |
| Taxes | 450/3 | €36 | €1,647 | +€1,611 | +4531.9% |
| Remuneration and social security | 454/9 | €27,759 | €30,310 | +€2,550 | +9.2% |
| Other amounts payable | 47/48 | €215,605 | €227,743 | +€12,138 | +5.6% |
| Remuneration, social security and pensions | 62 | €218,576 | €269,335 | +€50,759 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,109 | €48,660 | +€1,550 | +3.3% |
| Other operating charges | 640/8 | €2,731 | €3,021 | +€290 | +10.6% |
| Gross operating margin | 9900 | €183,752 | €264,183 | +€80,431 | +43.8% |
| Operating profit (loss) | 9901 | -€84,664 | -€56,833 | +€27,832 | +32.9% |
| Financial income | 75/76B | €5 | €1 | -€4 | -86.8% |
| Recurring financial income | 75 | €5 | €1 | -€4 | -86.8% |
| Financial charges | 65/66B | €6,476 | €3,318 | -€3,159 | -48.8% |
| Recurring financial charges | 65 | €6,476 | €3,318 | -€3,159 | -48.8% |
| Profit (loss) for the period before taxes | 9903 | -€91,136 | -€60,150 | +€30,986 | +34.0% |
| Profit (loss) for the period | 9904 | -€91,136 | -€60,150 | +€30,986 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€91,136 | -€60,150 | +€30,986 | +34.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.