A. DEBRUYN: what changed
Two fiscal 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. DEBRUYN
Largest movements
- Cash +€10,076
up €10,076 (+171.5%), from €5,876 to €15,952
mainly Depreciation (+€13,756) and Net result for the year (+€10,209)
- Tangible fixed assets -€9,999
down €9,999 (-13.3%), from €74,917 to €64,918
of which Land and buildings: -€7,775
- Stocks and contracts +€3,635
up €3,635 (+6.7%), from €54,389 to €58,024
- Profit (loss) carried forward +€10,209
up €10,209 (+71.3%), from -€14,313 to -€4,104
- Other debts -€9,827
down €9,827 (-7.8%), from €125,364 to €115,536
- Tax, wage and social debts +€5,854
up €5,854 (+1751.2%), from €334 to €6,189
- Trade debts -€1,841
down €1,841 (-49.1%), from €3,753 to €1,912
- Staff costs -€7,387
no longer reported in 2025 (was €7,387)
- Gross operating margin +€6,595
up €6,595 (+45.9%), from €14,372 to €20,967
- Taxes +€5,854
up €5,854 (+1751.2%), from €334 to €6,189
- Depreciation +€1,842
up €1,842 (+15.5%), from €11,915 to €13,756
- Other operating charges -€1,245
down €1,245 (-24.9%), from €4,997 to €3,753
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.
Cash bridge derived
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 | €136,675 | €141,104 | +€4,429 | +3.2% |
| Fixed assets | 21/28 | €75,092 | €64,918 | -€10,174 | -13.5% |
| Tangible fixed assets | 22/27 | €74,917 | €64,918 | -€9,999 | -13.3% |
| Land and buildings | 22 | €48,856 | €41,081 | -€7,775 | -15.9% |
| Plant, machinery and equipment | 23 | €25,452 | €20,045 | -€5,408 | -21.2% |
| Furniture and vehicles | 24 | €608 | €3,793 | +€3,184 | +523.3% |
| Financial fixed assets | 28 | €175 | - | -€175 | |
| Current assets | 29/58 | €61,583 | €76,186 | +€14,603 | +23.7% |
| Stocks and contracts in progress | 3 | €54,389 | €58,024 | +€3,635 | +6.7% |
| Stocks | 30/36 | €54,389 | €58,024 | +€3,635 | +6.7% |
| Amounts receivable within one year | 40/41 | €642 | €764 | +€121 | +18.9% |
| Trade receivables | 40 | €389 | €382 | -€7 | -1.7% |
| Other amounts receivable | 41 | €254 | €382 | +€128 | +50.4% |
| Cash at bank and in hand | 54/58 | €5,876 | €15,952 | +€10,076 | +171.5% |
| Deferred charges and accrued income | 490/1 | €675 | €1,446 | +€771 | +114.1% |
| Total equity and liabilities | 10/49 | €136,675 | €141,104 | +€4,429 | +3.2% |
| Equity | 10/15 | €4,902 | €15,112 | +€10,209 | +208.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €624 | €624 | = | 0.0% |
| Distributable reserves | 133 | €624 | €624 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,313 | -€4,104 | +€10,209 | +71.3% |
| Amounts payable | 17/49 | €131,773 | €125,992 | -€5,780 | -4.4% |
| Amounts payable after more than one year | 17 | €1,780 | €1,780 | = | 0.0% |
| Other amounts payable | 178/9 | €1,780 | €1,780 | = | 0.0% |
| Amounts payable within one year | 42/48 | €129,881 | €124,099 | -€5,782 | -4.5% |
| Trade debts | 44 | €3,753 | €1,912 | -€1,841 | -49.1% |
| Suppliers | 440/4 | €3,753 | €1,912 | -€1,841 | -49.1% |
| Advances received on contracts in progress | 46 | €430 | €462 | +€32 | +7.4% |
| Taxes, remuneration and social security | 45 | €334 | €6,189 | +€5,854 | +1751.2% |
| Taxes | 450/3 | €334 | €6,189 | +€5,854 | +1751.2% |
| Other amounts payable | 47/48 | €125,364 | €115,536 | -€9,827 | -7.8% |
| Accrued charges and deferred income | 492/3 | €112 | €113 | +€2 | +1.5% |
| Remuneration, social security and pensions | 62 | €7,387 | - | -€7,387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,915 | €13,756 | +€1,842 | +15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,426 | -€12,946 | +€480 | +3.6% |
| Other operating charges | 640/8 | €4,997 | €3,753 | -€1,245 | -24.9% |
| Gross operating margin | 9900 | €14,372 | €20,967 | +€6,595 | +45.9% |
| Operating profit (loss) | 9901 | €3,499 | €16,404 | +€12,905 | +368.8% |
| Financial income | 75/76B | €383 | €378 | -€5 | -1.2% |
| Recurring financial income | 75 | €383 | €378 | -€5 | -1.2% |
| Financial charges | 65/66B | €542 | €384 | -€158 | -29.1% |
| Recurring financial charges | 65 | €542 | €384 | -€158 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €3,340 | €16,398 | +€13,058 | +390.9% |
| Income taxes | 67/77 | €334 | €6,189 | +€5,854 | +1751.2% |
| Profit (loss) for the period | 9904 | €3,006 | €10,209 | +€7,203 | +239.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,006 | €10,209 | +€7,203 | +239.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.