Secured By Bricks: what changed
Secured By Bricks
Largest movements
- Receivables within one year -€66,082
down €66,082 (-39.5%), from €167,189 to €101,107
of which Trade receivables: -€66,325
- Cash -€21,233
down €21,233 (-7.7%), from €274,058 to €252,826
mainly Net result for the year (-€311,504) and Trade debts (-€27,144)
- Profit (loss) carried forward -€311,504
down €311,504 (-29.2%), from -€1.1m to -€1.4m
- Debts after one year +€253,526
up €253,526 (+724%), from €35,014 to €288,540
- Trade debts -€27,144
down €27,144 (-14.1%), from €192,349 to €165,205
- Advances received -€15,694
down €15,694 (-6.2%), from €251,356 to €235,661
- Accrued charges and deferred income +€4,605
new in 2025: €4,605
- Gross operating margin +€87,798
up €87,798 (+52.5%), from -€167,291 to -€79,493
- Other operating charges -€16,752
down €16,752 (-98.8%), from €16,961 to €209
- Staff costs +€5,512
up €5,512 (+2.5%), from €221,178 to €226,690
- Financial charges -€3,522
down €3,522 (-69.2%), from €5,089 to €1,567
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €448,042 | €356,588 | -€91,454 | -20.4% |
| Fixed assets | 21/28 | €6,261 | €2,656 | -€3,605 | -57.6% |
| Tangible fixed assets | 22/27 | €6,211 | €2,606 | -€3,605 | -58.0% |
| Plant, machinery and equipment | 23 | €3,780 | €1,390 | -€2,390 | -63.2% |
| Other tangible fixed assets | 26 | €2,431 | €1,216 | -€1,215 | -50.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €441,782 | €353,933 | -€87,849 | -19.9% |
| Amounts receivable within one year | 40/41 | €167,189 | €101,107 | -€66,082 | -39.5% |
| Trade receivables | 40 | €134,856 | €68,531 | -€66,325 | -49.2% |
| Other amounts receivable | 41 | €32,332 | €32,576 | +€243 | +0.8% |
| Cash at bank and in hand | 54/58 | €274,058 | €252,826 | -€21,233 | -7.7% |
| Deferred charges and accrued income | 490/1 | €535 | €0 | -€535 | -100% |
| Total equity and liabilities | 10/49 | €448,042 | €356,588 | -€91,454 | -20.4% |
| Equity | 10/15 | -€55,556 | -€367,060 | -€311,504 | -561% |
| Contributions | 10/11 | €1,009,975 | €1,009,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,065,531 | -€1,377,035 | -€311,504 | -29.2% |
| Amounts payable | 17/49 | €503,598 | €723,648 | +€220,050 | +43.7% |
| Amounts payable after more than one year | 17 | €35,014 | €288,540 | +€253,526 | +724% |
| Other amounts payable | 178/9 | €35,014 | €288,540 | +€253,526 | +724% |
| Amounts payable within one year | 42/48 | €468,584 | €430,504 | -€38,080 | -8.1% |
| Trade debts | 44 | €192,349 | €165,205 | -€27,144 | -14.1% |
| Suppliers | 440/4 | €192,349 | €165,205 | -€27,144 | -14.1% |
| Advances received on contracts in progress | 46 | €251,356 | €235,661 | -€15,694 | -6.2% |
| Taxes, remuneration and social security | 45 | €24,880 | €29,344 | +€4,464 | +17.9% |
| Taxes | 450/3 | €4,572 | €4,452 | -€121 | -2.6% |
| Remuneration and social security | 454/9 | €20,307 | €24,892 | +€4,585 | +22.6% |
| Other amounts payable | 47/48 | €0 | €294 | +€294 | |
| Accrued charges and deferred income | 492/3 | - | €4,605 | +€4,605 | |
| Remuneration, social security and pensions | 62 | €221,178 | €226,690 | +€5,512 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,158 | €3,605 | +€447 | +14.1% |
| Other operating charges | 640/8 | €16,961 | €209 | -€16,752 | -98.8% |
| Gross operating margin | 9900 | -€167,291 | -€79,493 | +€87,798 | +52.5% |
| Operating profit (loss) | 9901 | -€408,588 | -€309,996 | +€98,592 | +24.1% |
| Financial income | 75/76B | €0 | €450 | +€450 | |
| Recurring financial income | 75 | €0 | €450 | +€450 | |
| Financial charges | 65/66B | €5,089 | €1,567 | -€3,522 | -69.2% |
| Recurring financial charges | 65 | €5,089 | €1,567 | -€3,522 | -69.2% |
| Profit (loss) for the period before taxes | 9903 | -€413,677 | -€311,113 | +€102,564 | +24.8% |
| Income taxes | 67/77 | €579 | €391 | -€188 | -32.5% |
| Profit (loss) for the period | 9904 | -€414,256 | -€311,504 | +€102,752 | +24.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€414,256 | -€311,504 | +€102,752 | +24.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.