A. Brusselmans: 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.
A. Brusselmans
Largest movements
- Receivables within one year +€77,783
up €77,783 (+247%), from €31,500 to €109,283
of which Trade receivables: +€82,905
- Cash -€22,679
down €22,679 (-38.1%), from €59,511 to €36,832
mainly Contributions, distributions and other (-€250,000) and Receivables within one year (-€77,783)
- Other debts +€223,717
up €223,717 (+3,840%), from €5,826 to €229,543
- Reserves -€159,552
down €159,552 (-47.5%), from €336,112 to €176,560
- Debts after one year -€53,084
down €53,084 (-11.3%), from €470,114 to €417,030
- Tax, wage and social debts +€49,574
up €49,574 (+192%), from €25,882 to €75,456
of which Taxes: +€40,456
- Gross operating margin +€24,246
up €24,246 (+13.6%), from €177,788 to €202,034
- Taxes +€5,440
up €5,440 (+29.4%), from €18,500 to €23,940
- Financial charges -€2,807
down €2,807 (-15.9%), from €17,613 to €14,806
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 | €1,002,495 | €1,055,114 | +€52,618 | +5.2% |
| Fixed assets | 21/28 | €909,536 | €906,894 | -€2,642 | -0.3% |
| Tangible fixed assets | 22/27 | €68,096 | €65,454 | -€2,642 | -3.9% |
| Plant, machinery and equipment | 23 | €5,480 | €4,851 | -€629 | -11.5% |
| Furniture and vehicles | 24 | €61,764 | €47,196 | -€14,568 | -23.6% |
| Other tangible fixed assets | 26 | €853 | €13,407 | +€12,555 | +1,473% |
| Financial fixed assets | 28 | €841,441 | €841,441 | = | 0.0% |
| Current assets | 29/58 | €92,959 | €148,219 | +€55,260 | +59.4% |
| Amounts receivable within one year | 40/41 | €31,500 | €109,283 | +€77,783 | +247% |
| Trade receivables | 40 | - | €82,905 | +€82,905 | |
| Other amounts receivable | 41 | €31,500 | €26,377 | -€5,123 | -16.3% |
| Cash at bank and in hand | 54/58 | €59,511 | €36,832 | -€22,679 | -38.1% |
| Deferred charges and accrued income | 490/1 | €1,948 | €2,105 | +€157 | +8.1% |
| Total equity and liabilities | 10/49 | €1,002,495 | €1,055,114 | +€52,618 | +5.2% |
| Equity | 10/15 | €422,188 | €262,636 | -€159,552 | -37.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €336,112 | €176,560 | -€159,552 | -47.5% |
| Distributable reserves | 133 | €336,112 | €176,560 | -€159,552 | -47.5% |
| Profit (loss) carried forward | 14 | €67,475 | €67,475 | = | 0.0% |
| Amounts payable | 17/49 | €580,307 | €792,478 | +€212,171 | +36.6% |
| Amounts payable after more than one year | 17 | €470,114 | €417,030 | -€53,084 | -11.3% |
| Financial debts | 170/4 | €470,114 | €417,030 | -€53,084 | -11.3% |
| Amounts payable within one year | 42/48 | €110,193 | €375,448 | +€265,255 | +241% |
| Current portion of amounts payable after more than one year | 42 | €75,585 | €65,716 | -€9,869 | -13.1% |
| Trade debts | 44 | €2,900 | €4,733 | +€1,833 | +63.2% |
| Suppliers | 440/4 | €2,900 | €4,733 | +€1,833 | +63.2% |
| Taxes, remuneration and social security | 45 | €25,882 | €75,456 | +€49,574 | +192% |
| Taxes | 450/3 | €18,644 | €59,100 | +€40,456 | +217% |
| Remuneration and social security | 454/9 | €7,238 | €16,356 | +€9,117 | +126% |
| Other amounts payable | 47/48 | €5,826 | €229,543 | +€223,717 | +3,840% |
| Remuneration, social security and pensions | 62 | €53,048 | €54,787 | +€1,738 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,312 | €17,054 | +€1,741 | +11.4% |
| Other operating charges | 640/8 | €968 | €1,053 | +€85 | +8.8% |
| Gross operating margin | 9900 | €177,788 | €202,034 | +€24,246 | +13.6% |
| Operating profit (loss) | 9901 | €108,459 | €129,141 | +€20,681 | +19.1% |
| Financial income | 75/76B | €0 | €53 | +€53 | |
| Recurring financial income | 75 | €0 | €53 | +€53 | |
| Financial charges | 65/66B | €17,613 | €14,806 | -€2,807 | -15.9% |
| Recurring financial charges | 65 | €17,613 | €14,806 | -€2,807 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €90,846 | €114,388 | +€23,541 | +25.9% |
| Income taxes | 67/77 | €18,500 | €23,940 | +€5,440 | +29.4% |
| Profit (loss) for the period | 9904 | €72,346 | €90,448 | +€18,102 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,346 | €90,448 | +€18,102 | +25.0% |
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 21 October 2026 via checked.be.