No Brix No Glory: 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.
No Brix No Glory
Largest movements
- Receivables within one year +€182,422
up €182,422 (+60,807%), from €300 to €182,722
of which Other amounts receivable: +€182,357
- Cash +€20,613
up €20,613 (+163%), from €12,639 to €33,251
mainly Net result for the year (+€118,543) and Debts after one year (+€65,402)
- Tangible fixed assets -€6,886
down €6,886 (-1.7%), from €394,077 to €387,190
- Reserves +€99,038
up €99,038 (+154%), from €64,292 to €163,330
of which Distributable reserves: +€99,038
- Debts after one year +€65,402
up €65,402 (+19.5%), from €335,844 to €401,246
- Profit (loss) carried forward +€19,506
no longer reported in 2025 (was -€19,506)
- Current portion of long-term debt +€6,669
up €6,669 (+34.5%), from €19,324 to €25,993
- Gross operating margin +€159,978
up €159,978 (+435%), from €36,803 to €196,781
- Taxes +€46,799
new in 2025: €46,799
- Depreciation -€28,031
down €28,031 (-61.2%), from €45,835 to €17,803
- Financial charges +€10,466
up €10,466 (+155%), from €6,746 to €17,212
- Financial income +€4,656
up €4,656 (+24,885%), from €19 to €4,675
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 | €410,015 | €604,013 | +€193,998 | +47.3% |
| Fixed assets | 21/28 | €394,077 | €387,190 | -€6,886 | -1.7% |
| Tangible fixed assets | 22/27 | €394,077 | €387,190 | -€6,886 | -1.7% |
| Land and buildings | 22 | €394,077 | €387,190 | -€6,886 | -1.7% |
| Current assets | 29/58 | €15,939 | €216,823 | +€200,884 | +1,260% |
| Amounts receivable within one year | 40/41 | €300 | €182,722 | +€182,422 | +60,807% |
| Trade receivables | 40 | - | €65 | +€65 | |
| Other amounts receivable | 41 | €300 | €182,657 | +€182,357 | +60,786% |
| Cash at bank and in hand | 54/58 | €12,639 | €33,251 | +€20,613 | +163% |
| Deferred charges and accrued income | 490/1 | €3,000 | €850 | -€2,150 | -71.7% |
| Total equity and liabilities | 10/49 | €410,015 | €604,013 | +€193,998 | +47.3% |
| Equity | 10/15 | €44,786 | €163,330 | +€118,543 | +265% |
| Reserves | 13 | €64,292 | €163,330 | +€99,038 | +154% |
| Tax-exempt reserves | 132 | €96 | €96 | = | 0.0% |
| Distributable reserves | 133 | €64,196 | €163,233 | +€99,038 | +154% |
| Profit (loss) carried forward | 14 | -€19,506 | - | +€19,506 | |
| Amounts payable | 17/49 | €365,229 | €440,683 | +€75,454 | +20.7% |
| Amounts payable after more than one year | 17 | €335,844 | €401,246 | +€65,402 | +19.5% |
| Financial debts | 170/4 | €335,844 | €401,246 | +€65,402 | +19.5% |
| Amounts payable within one year | 42/48 | €29,385 | €39,247 | +€9,861 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €19,324 | €25,993 | +€6,669 | +34.5% |
| Trade debts | 44 | - | €910 | +€910 | |
| Suppliers | 440/4 | - | €910 | +€910 | |
| Taxes, remuneration and social security | 45 | - | €1,959 | +€1,959 | |
| Taxes | 450/3 | - | €1,959 | +€1,959 | |
| Other amounts payable | 47/48 | €10,061 | €10,385 | +€324 | +3.2% |
| Accrued charges and deferred income | 492/3 | - | €191 | +€191 | |
| Non-recurring operating income | 76A | - | €168,620 | +€168,620 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,835 | €17,803 | -€28,031 | -61.2% |
| Other operating charges | 640/8 | €3,746 | €1,098 | -€2,648 | -70.7% |
| Gross operating margin | 9900 | €36,803 | €196,781 | +€159,978 | +435% |
| Operating profit (loss) | 9901 | -€12,778 | €177,879 | +€190,657 | |
| Financial income | 75/76B | €19 | €4,675 | +€4,656 | +24,885% |
| Recurring financial income | 75 | €19 | €4,675 | +€4,656 | +24,885% |
| Financial charges | 65/66B | €6,746 | €17,212 | +€10,466 | +155% |
| Recurring financial charges | 65 | €6,746 | €17,212 | +€10,466 | +155% |
| Profit (loss) for the period before taxes | 9903 | -€19,506 | €165,342 | +€184,848 | |
| Income taxes | 67/77 | - | €46,799 | +€46,799 | |
| Profit (loss) for the period | 9904 | -€19,506 | €118,543 | +€138,049 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,506 | €118,543 | +€138,049 |
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 30 October 2026 via checked.be.