NEW BRAZIL: 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.
NEW BRAZIL
Largest movements
- Tangible fixed assets -€31,839
down €31,839 (-12.8%), from €249,594 to €217,755
- Cash -€12,347
down €12,347 (-41.6%), from €29,704 to €17,357
mainly Contributions, distributions and other (-€24,000) and Other debts (-€20,000)
- Receivables within one year +€10,314
up €10,314 (+21.6%), from €47,753 to €58,067
of which Other amounts receivable: +€7,827
- Other debts -€20,000
down €20,000 (-89.3%), from €22,400 to €2,400
- Current portion of long-term debt -€15,772
no longer reported in 2025 (was €15,772)
- Profit (loss) carried forward +€3,440
up €3,440 (+4.7%), from €73,739 to €77,179
- Gross operating margin -€20,820
down €20,820 (-22.3%), from €93,188 to €72,368
- Other operating charges -€4,637
down €4,637 (-54.9%), from €8,440 to €3,803
- Depreciation +€4,062
up €4,062 (+10.8%), from €37,508 to €41,570
- Taxes -€3,869
down €3,869 (-84.5%), from €4,580 to €711
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 | €331,483 | €297,111 | -€34,372 | -10.4% |
| Fixed assets | 21/28 | €253,199 | €220,860 | -€32,339 | -12.8% |
| Intangible fixed assets | 21 | €3,555 | €3,055 | -€500 | -14.1% |
| Tangible fixed assets | 22/27 | €249,594 | €217,755 | -€31,839 | -12.8% |
| Land and buildings | 22 | €159,781 | €152,828 | -€6,953 | -4.4% |
| Plant, machinery and equipment | 23 | €25,215 | €14,477 | -€10,738 | -42.6% |
| Furniture and vehicles | 24 | €64,598 | €50,450 | -€14,148 | -21.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €78,284 | €76,251 | -€2,033 | -2.6% |
| Stocks and contracts in progress | 3 | €827 | €827 | = | 0.0% |
| Stocks | 30/36 | €827 | €827 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €47,753 | €58,067 | +€10,314 | +21.6% |
| Trade receivables | 40 | €1,152 | €3,639 | +€2,487 | +216% |
| Other amounts receivable | 41 | €46,601 | €54,428 | +€7,827 | +16.8% |
| Cash at bank and in hand | 54/58 | €29,704 | €17,357 | -€12,347 | -41.6% |
| Total equity and liabilities | 10/49 | €331,483 | €297,111 | -€34,372 | -10.4% |
| Equity | 10/15 | €228,818 | €231,123 | +€2,305 | +1.0% |
| Contributions | 10/11 | €131,564 | €131,564 | = | 0.0% |
| Reserves | 13 | €23,515 | €22,380 | -€1,135 | -4.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,655 | €20,520 | -€1,135 | -5.2% |
| Profit (loss) carried forward | 14 | €73,739 | €77,179 | +€3,440 | +4.7% |
| Provisions and deferred taxes | 16 | €57,671 | €57,087 | -€584 | -1.0% |
| Provisions for liabilities and charges | 160/5 | €47,715 | €47,715 | = | 0.0% |
| Pensions and similar obligations | 160 | €47,715 | €47,715 | = | 0.0% |
| Deferred taxes | 168 | €9,956 | €9,372 | -€584 | -5.9% |
| Amounts payable | 17/49 | €44,994 | €8,901 | -€36,093 | -80.2% |
| Amounts payable within one year | 42/48 | €44,994 | €8,901 | -€36,093 | -80.2% |
| Current portion of amounts payable after more than one year | 42 | €15,772 | - | -€15,772 | |
| Trade debts | 44 | €1,684 | €1,209 | -€475 | -28.2% |
| Suppliers | 440/4 | €1,684 | €1,209 | -€475 | -28.2% |
| Taxes, remuneration and social security | 45 | €5,138 | €5,292 | +€154 | +3.0% |
| Taxes | 450/3 | €5,138 | €5,292 | +€154 | +3.0% |
| Other amounts payable | 47/48 | €22,400 | €2,400 | -€20,000 | -89.3% |
| Non-recurring operating income | 76A | - | €3,951 | +€3,951 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,508 | €41,570 | +€4,062 | +10.8% |
| Other operating charges | 640/8 | €8,440 | €3,803 | -€4,637 | -54.9% |
| Gross operating margin | 9900 | €93,188 | €72,368 | -€20,820 | -22.3% |
| Operating profit (loss) | 9901 | €47,240 | €26,995 | -€20,245 | -42.9% |
| Financial income | 75/76B | €71 | - | -€71 | |
| Recurring financial income | 75 | €71 | - | -€71 | |
| Financial charges | 65/66B | €1,210 | €563 | -€647 | -53.5% |
| Recurring financial charges | 65 | €1,210 | €563 | -€647 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | €46,101 | €26,432 | -€19,669 | -42.7% |
| Transfer from deferred taxes | 780 | €585 | €584 | -€1 | -0.2% |
| Income taxes | 67/77 | €4,580 | €711 | -€3,869 | -84.5% |
| Profit (loss) for the period | 9904 | €42,106 | €26,305 | -€15,801 | -37.5% |
| Transfer from tax-exempt reserves | 789 | €1,134 | €1,135 | +€1 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,240 | €27,440 | -€15,800 | -36.5% |
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 28 October 2026 via checked.be.