Nicolas 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.
Nicolas Brasseur
Largest movements
- Receivables within one year +€36,330
up €36,330 (+42.2%), from €86,146 to €122,476
of which Other amounts receivable: +€25,864
- Cash +€16,097
up €16,097 (+215%), from €7,498 to €23,595
mainly Net result for the year (+€57,200) and Depreciation (+€9,832)
- Tangible fixed assets -€7,177
down €7,177 (-16.1%), from €44,673 to €37,496
of which Land and buildings: -€4,620
- Reserves +€57,000
up €57,000 (+80.4%), from €70,860 to €127,860
of which Distributable reserves: +€57,000
- Tax, wage and social debts -€10,424
down €10,424 (-29.6%), from €35,199 to €24,775
- Gross operating margin +€61,403
up €61,403 (+232%), from €26,497 to €87,900
- Taxes +€17,163
up €17,163 (+234%), from €7,332 to €24,495
- Other operating charges +€3,917
up €3,917 (+210%), from €1,865 to €5,782
- Financial income +€3,174
up €3,174 (+45.4%), from €6,991 to €10,165
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 | €318,884 | €364,997 | +€46,113 | +14.5% |
| Fixed assets | 21/28 | €44,673 | €37,496 | -€7,177 | -16.1% |
| Tangible fixed assets | 22/27 | €44,673 | €37,496 | -€7,177 | -16.1% |
| Land and buildings | 22 | €36,417 | €31,797 | -€4,620 | -12.7% |
| Plant, machinery and equipment | 23 | €5,333 | €1,909 | -€3,425 | -64.2% |
| Furniture and vehicles | 24 | €2,922 | €3,790 | +€868 | +29.7% |
| Current assets | 29/58 | €274,211 | €327,500 | +€53,290 | +19.4% |
| Amounts receivable after more than one year | 29 | €180,000 | €180,000 | = | 0.0% |
| Other amounts receivable | 291 | €180,000 | €180,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €86,146 | €122,476 | +€36,330 | +42.2% |
| Trade receivables | 40 | €9,869 | €20,335 | +€10,465 | +106% |
| Other amounts receivable | 41 | €76,277 | €102,141 | +€25,864 | +33.9% |
| Cash at bank and in hand | 54/58 | €7,498 | €23,595 | +€16,097 | +215% |
| Deferred charges and accrued income | 490/1 | €566 | €1,429 | +€863 | +152% |
| Total equity and liabilities | 10/49 | €318,884 | €364,997 | +€46,113 | +14.5% |
| Equity | 10/15 | €239,233 | €296,433 | +€57,200 | +23.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €70,860 | €127,860 | +€57,000 | +80.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €69,000 | €126,000 | +€57,000 | +82.6% |
| Profit (loss) carried forward | 14 | €162,173 | €162,373 | +€200 | +0.1% |
| Provisions and deferred taxes | 16 | €41,093 | €41,093 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €41,093 | €41,093 | = | 0.0% |
| Other liabilities and charges | 164/5 | €41,093 | €41,093 | = | 0.0% |
| Amounts payable | 17/49 | €38,558 | €27,471 | -€11,087 | -28.8% |
| Amounts payable within one year | 42/48 | €38,125 | €27,251 | -€10,874 | -28.5% |
| Trade debts | 44 | €2,926 | €2,476 | -€450 | -15.4% |
| Suppliers | 440/4 | €2,926 | €2,476 | -€450 | -15.4% |
| Taxes, remuneration and social security | 45 | €35,199 | €24,775 | -€10,424 | -29.6% |
| Taxes | 450/3 | €35,199 | €24,775 | -€10,424 | -29.6% |
| Accrued charges and deferred income | 492/3 | €433 | €220 | -€212 | -49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,263 | €9,832 | +€569 | +6.1% |
| Other operating charges | 640/8 | €1,865 | €5,782 | +€3,917 | +210% |
| Gross operating margin | 9900 | €26,497 | €87,900 | +€61,403 | +232% |
| Operating profit (loss) | 9901 | €15,369 | €72,285 | +€56,916 | +370% |
| Financial income | 75/76B | €6,991 | €10,165 | +€3,174 | +45.4% |
| Recurring financial income | 75 | €6,991 | €10,165 | +€3,174 | +45.4% |
| Financial charges | 65/66B | €683 | €756 | +€73 | +10.7% |
| Recurring financial charges | 65 | €683 | €756 | +€73 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €21,677 | €81,694 | +€60,018 | +277% |
| Income taxes | 67/77 | €7,332 | €24,495 | +€17,163 | +234% |
| Profit (loss) for the period | 9904 | €14,345 | €57,200 | +€42,855 | +299% |
| Profit (loss) for the period to be appropriated | 9905 | €14,345 | €57,200 | +€42,855 | +299% |
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 31 October 2026 via checked.be.