M.E. BRAS: 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.
M.E. BRAS
Largest movements
- Deferred charges and accrued income +€22,952
up €22,952 (+20,572%), from €112 to €23,064
- Tangible fixed assets -€6,018
down €6,018 (-26.4%), from €22,818 to €16,800
- Receivables within one year -€4,399
down €4,399 (-21.1%), from €20,804 to €16,405
of which Trade receivables: -€3,685
- Cash +€2,785
up €2,785 (+1,109%), from €251 to €3,036
mainly Net result for the year (+€14,347) and Depreciation (+€6,018)
- Profit (loss) carried forward +€14,347
up €14,347, from -€10,101 to €4,246
- Debts after one year -€6,374
down €6,374 (-55.3%), from €11,528 to €5,154
- Trade debts +€3,367
up €3,367 (+19.8%), from €17,024 to €20,391
- Other debts +€2,147
up €2,147 (+17.7%), from €12,094 to €14,241
- Current portion of long-term debt +€995
up €995 (+18.5%), from €5,379 to €6,374
- Gross operating margin +€23,832
up €23,832, from -€553 to €23,279
- Taxes +€839
new in 2025: €839
- Financial charges -€563
down €563 (-23.9%), from €2,354 to €1,791
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 | €43,984 | €59,305 | +€15,321 | +34.8% |
| Fixed assets | 21/28 | €22,818 | €16,800 | -€6,018 | -26.4% |
| Tangible fixed assets | 22/27 | €22,818 | €16,800 | -€6,018 | -26.4% |
| Leasing and similar rights | 25 | €22,818 | €16,800 | -€6,018 | -26.4% |
| Current assets | 29/58 | €21,166 | €42,505 | +€21,338 | +101% |
| Amounts receivable within one year | 40/41 | €20,804 | €16,405 | -€4,399 | -21.1% |
| Trade receivables | 40 | €18,906 | €15,220 | -€3,685 | -19.5% |
| Other amounts receivable | 41 | €1,898 | €1,184 | -€714 | -37.6% |
| Cash at bank and in hand | 54/58 | €251 | €3,036 | +€2,785 | +1,109% |
| Deferred charges and accrued income | 490/1 | €112 | €23,064 | +€22,952 | +20,572% |
| Total equity and liabilities | 10/49 | €43,984 | €59,305 | +€15,321 | +34.8% |
| Equity | 10/15 | -€2,041 | €12,306 | +€14,347 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,101 | €4,246 | +€14,347 | |
| Amounts payable | 17/49 | €46,025 | €46,999 | +€974 | +2.1% |
| Amounts payable after more than one year | 17 | €11,528 | €5,154 | -€6,374 | -55.3% |
| Financial debts | 170/4 | €11,528 | €5,154 | -€6,374 | -55.3% |
| Amounts payable within one year | 42/48 | €34,497 | €41,845 | +€7,348 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €5,379 | €6,374 | +€995 | +18.5% |
| Trade debts | 44 | €17,024 | €20,391 | +€3,367 | +19.8% |
| Suppliers | 440/4 | €17,024 | €20,391 | +€3,367 | +19.8% |
| Taxes, remuneration and social security | 45 | - | €839 | +€839 | |
| Taxes | 450/3 | - | €839 | +€839 | |
| Other amounts payable | 47/48 | €12,094 | €14,241 | +€2,147 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,045 | €6,018 | -€28 | -0.5% |
| Other operating charges | 640/8 | €468 | €285 | -€183 | -39.1% |
| Gross operating margin | 9900 | -€553 | €23,279 | +€23,832 | |
| Operating profit (loss) | 9901 | -€7,065 | €16,977 | +€24,042 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,354 | €1,791 | -€563 | -23.9% |
| Recurring financial charges | 65 | €2,354 | €1,791 | -€563 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,420 | €15,186 | +€24,605 | |
| Income taxes | 67/77 | - | €839 | +€839 | |
| Profit (loss) for the period | 9904 | -€9,420 | €14,347 | +€23,766 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,420 | €14,347 | +€23,766 |
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 13 October 2026 via checked.be.