Summary
Bruno Management is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €73,708 and a net result of €76,209. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 32% of 6,630 sector peers (NACE 64, financial year 2025). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Equity
€73,708
2024 · -€2,501
Net result
€76,209▼ 3.1%
2024 · €78,618
Total assets
€239,694▲ 113%
2024 · €112,598
Solvency
30.8%▲ 33.0pp
2024 · -2.2%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 14% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€96,980
2025
Net result€76,209
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€239,694
2025
Equity€73,708
2025
Debt€165,986
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€73,708
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)31.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency30.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.44
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€53,626-€26,259▼ 51.0%€14,186▼ 46.0%€19,368▲ 36.5%€9,794▼ 49.4%-€91,318€84,700€96,980▲ 14.5%
Net result€49,917-€30,764▼ 38.4%€7,513within the sector's middle half▼ 75.6%€11,540within the sector's middle half▲ 53.6%€6,209within the sector's middle half▼ 46.2%-€100,957below the sector's middle half€78,618within the sector's middle half€76,209within the sector's middle half▼ 3.1%
Equity-€36,189--€5,426▲ 85.0%€2,088below the sector's middle half€13,628below the sector's middle half▲ 553%€19,838below the sector's middle half▲ 45.6%-€81,120below the sector's middle half-€2,501below the sector's middle half▲ 96.9%€73,708below the sector's middle half
Total assets€216,792-€403,191▲ 86.0%€297,415below the sector's middle half▼ 26.2%€469,552below the sector's middle half▲ 57.9%€454,316below the sector's middle half▼ 3.2%€544,660below the sector's middle half▲ 19.9%€112,598below the sector's middle half▼ 79.3%€239,694below the sector's middle half▲ 113%
Debt€252,982-€408,616▲ 61.5%€295,328▼ 27.7%€455,924▲ 54.4%€434,478▼ 4.7%€625,780▲ 44.0%€115,099▼ 81.6%€165,986▲ 44.2%
Working capital€78,424-€100,675▲ 28.4%€81,970within the sector's middle half▼ 18.6%€120,029within the sector's middle half▲ 46.4%€139,181within the sector's middle half▲ 16.0%€22,264within the sector's middle half▼ 84.0%-€7,207within the sector's middle half€73,708within the sector's middle half
Solvency-16.7%--1.3%▲ 15.3pp0.7%below the sector's middle half▲ 2.0pp2.9%below the sector's middle half▲ 2.2pp4.4%below the sector's middle half▲ 1.5pp-14.9%below the sector's middle half▼ 19.3pp-2.2%below the sector's middle half▲ 12.7pp30.8%within the sector's middle half▲ 33.0pp
Current ratio1.83-1.40▼ 0.421.59within the sector's middle half▲ 0.181.42within the sector's middle half▼ 0.171.50within the sector's middle half▲ 0.081.06within the sector's middle half▼ 0.440.94within the sector's middle half▼ 0.131.44within the sector's middle half▲ 0.51
Return on assets (ROA)23.0%-7.6%▼ 15.4pp2.5%within the sector's middle half▼ 5.1pp2.5%within the sector's middle half▼ 0.1pp1.4%within the sector's middle half▼ 1.1pp-18.5%below the sector's middle half▼ 19.9pp69.8%above the sector's middle half▲ 88.4pp31.8%above the sector's middle half▼ 38.0pp
Staff (FTE)1.8-6.7▲ 272%7above the sector's middle half▲ 4.5%6above the sector's middle half▼ 14.3%4.7above the sector's middle half▼ 21.7%6.7above the sector's middle half▲ 42.6%4.2above the sector's middle half▼ 37.3%0within the sector's middle half▼ 100%
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
Equity and liabilities €239,694
Equity
€73,708
Debt
€165,986
Debt finances 69.2% of the balance-sheet total.
Key figures and ratios
ROE
103.4%
Debt ≤ 1 year
€165,986▲
2024 · €115,099
Income taxes
€19,959
Staff costs
€492▼
2024 · €168,330
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €1,361 | - |
| Remuneration, social security and pensions62 | - | - | - | €289,817 | €250,154 | €316,111 | €168,330 | €492 | ▼ 99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,553 | €15,575 | €23,027 | €21,670 | €23,718 | €45,958 | €3,319 | €0 | ▼ 100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €8,582 | €0 | -€8,582 | €0 | - |
| Other operating charges640/8 | - | - | - | €9,328 | €5,567 | €4,920 | €25,062 | €846 | ▼ 96.6% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0 | - |
| Gross operating margin9900 | €132,350 | €325,092 | €319,728 | €340,183 | €297,816 | €275,670 | €272,829 | €98,318 | ▼ 64.0% |
| Operating profit (loss)9901 | €53,626 | €26,259 | €14,186 | €19,368 | €9,794 | -€91,318 | €84,700 | €96,980 | ▲ 14.5% |
| Financial income75/76B | - | - | - | €0 | €2,734 | €0 | €547 | €76 | ▼ 86.1% |
| Recurring financial income75 | €1,574 | €10,380 | €0 | €0 | €2,734 | €0 | €547 | €76 | ▼ 86.1% |
| Financial charges65/66B | - | - | - | €7,827 | €6,319 | €9,639 | €6,629 | €888 | ▼ 86.6% |
| Recurring financial charges65 | €5,283 | €5,876 | €6,674 | €7,827 | €6,319 | €9,639 | €6,629 | €888 | ▼ 86.6% |
| Profit (loss) for the period before taxes9903 | €49,917 | €30,764 | €7,513 | €11,540 | €6,209 | -€100,957 | €78,618 | €96,169 | ▲ 22.3% |
| Income taxes67/77 | - | - | - | - | - | - | - | €19,959 | - |
| Profit (loss) for the period9904 | €49,917 | €30,764 | €7,513 | €11,540 | €6,209 | -€100,957 | €78,618 | €76,209 | ▼ 3.1% |
| Profit (loss) for the period to be appropriated9905 | €49,917 | €30,764 | €7,513 | €11,540 | €6,209 | -€100,957 | €78,618 | €76,209 | ▼ 3.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €216,792 | €403,191 | €297,415 | €469,552 | €454,316 | €544,660 | €112,598 | €239,694 | ▲ 113% |
| Fixed assets21/28 | €43,454 | €52,645 | €75,759 | €61,653 | €37,025 | €168,125 | €4,706 | €0 | ▼ 100% |
| Intangible fixed assets21 | €5,977 | €2,617 | €52 | €0 | - | €11,498 | €0 | - | - |
| Tangible fixed assets22/27 | €36,547 | €49,118 | €74,297 | €60,243 | €36,525 | €156,127 | €4,706 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | €21,300 | €12,970 | €8,218 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €38,943 | €23,555 | €147,909 | €4,706 | €0 | ▼ 100% |
| Financial fixed assets28 | €930 | €910 | €1,410 | €1,410 | €500 | €500 | €0 | - | - |
| Current assets29/58 | €173,339 | €350,546 | €221,656 | €407,899 | €417,291 | €376,535 | €107,893 | €239,694 | ▲ 122% |
| Amounts receivable within one year40/41 | €100,926 | €309,969 | €203,993 | €280,921 | €346,866 | €370,462 | €95,154 | €174,682 | ▲ 83.6% |
| Trade receivables40 | - | - | - | €277,480 | €343,773 | €350,462 | €95,154 | €172,123 | ▲ 80.9% |
| Other amounts receivable41 | - | - | - | €3,441 | €3,093 | €20,000 | €0 | €2,559 | - |
| Cash at bank and in hand54/58 | €67,887 | €38,683 | €14,975 | €124,333 | €60,269 | €2,647 | €12,727 | €65,012 | ▲ 411% |
| Deferred charges and accrued income490/1 | - | - | - | €2,645 | €10,156 | €3,426 | €12 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €216,792 | €403,191 | €297,415 | €469,552 | €454,316 | €544,660 | €112,598 | €239,694 | ▲ 113% |
| Equity10/15 | -€36,189 | -€5,426 | €2,088 | €13,628 | €19,838 | -€81,120 | -€2,501 | €73,708 | - |
| Contributions10/11 | €48,000 | €48,000 | - | €48,000 | €48,000 | €48,000 | €48,000 | €48,000 | = |
| Reserves13 | - | - | - | - | - | - | - | €25,708 | - |
| Distributable reserves133 | - | - | - | - | - | - | - | €25,708 | - |
| Profit (loss) carried forward14 | -€84,189 | -€53,426 | -€45,912 | -€34,372 | -€28,162 | -€129,120 | -€50,501 | €0 | - |
| Amounts payable17/49 | €252,982 | €408,616 | €295,328 | €455,924 | €434,478 | €625,780 | €115,099 | €165,986 | ▲ 44.2% |
| Amounts payable after more than one year17 | €153,492 | €158,745 | €155,169 | €168,053 | €156,369 | €271,508 | €0 | - | - |
| Financial debts170/4 | - | - | - | €168,053 | €0 | €110,486 | €0 | - | - |
| Other amounts payable178/9 | - | - | - | - | €156,369 | €161,022 | €0 | - | - |
| Amounts payable within one year42/48 | €94,914 | €249,871 | €139,686 | €287,871 | €278,110 | €354,272 | €115,099 | €165,986 | ▲ 44.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3,636 | €1,533 | €27,468 | €0 | - | - |
| Financial debts43 | - | - | - | €0 | €11,000 | €0 | - | - | - |
| Credit institutions430/8 | - | - | - | €0 | €11,000 | €0 | - | - | - |
| Trade debts44 | €67,885 | €155,223 | €42,368 | €227,300 | €236,989 | €261,097 | €4,205 | €142,570 | ▲ 3,291% |
| Suppliers440/4 | - | - | - | €227,300 | €236,989 | €261,097 | €4,205 | €142,570 | ▲ 3,291% |
| Taxes, remuneration and social security45 | - | - | - | €56,935 | €28,587 | €65,707 | €102,917 | €23,416 | ▼ 77.2% |
| Taxes450/3 | - | - | - | €31,928 | €10,558 | €38,236 | €94,402 | €23,416 | ▼ 75.2% |
| Remuneration and social security454/9 | - | - | - | €25,007 | €18,029 | €27,471 | €8,515 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0 | - | - | €7,977 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,917 | €30,764 | €7,513 | €11,540 | €6,209 | -€100,957 | €78,618 | €76,209 | ▼ 3.1% |
| + Depreciation and write-downs630 | €7,553 | €15,575 | €23,027 | €21,670 | €23,718 | €45,958 | €3,319 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €57,470 | €46,338 | €30,540 | €33,210 | €29,927 | -€55,000 | €81,937 | €76,209 | ▼ 7.0% |
| Investment in fixed assets (approximation) | - | -€24,765 | -€46,141 | -€7,564 | €910 | -€177,057 | €160,100 | €4,706 | ▼ 97.1% |
| Change in cash | - | -€29,204 | -€23,708 | €109,358 | -€64,064 | -€57,622 | €10,079 | €52,285 | ▲ 419% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 02-06-2026 | 2026-00135719 |
| 31-12-2024 | abbreviated format | 04-07-2025 | 2025-00229167 |
| 31-12-2023 | abbreviated format | 03-06-2024 | 2024-00106312 |
| 31-12-2022 | abbreviated format | 09-08-2023 | 2023-00323707 |
| 31-12-2021 | abbreviated format | 13-07-2022 | 2022-20184315 |
| 31-12-2020 | abbreviated format | 20-07-2021 | 2021-37600079 |
| 31-12-2019 | abbreviated format | 01-07-2020 | 2020-24700390 |
| 31-12-2018 | abbreviated format | 17-07-2019 | 2019-33800516 |
| 31-12-2017 | abbreviated format | 21-11-2018 | 2018-72600204 |
| 31-12-2016 | abbreviated format | 15-06-2017 | 2017-18100269 |
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Of the 24,462 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,970. 11,684 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €2,552 awarded · €3,518 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €369 | €1,394 |
| 2022 | 1 | €2,183 | €2,124 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.