AVEVE BRUSTEM: 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.
AVEVE BRUSTEM
Largest movements
- Receivables within one year +€60,313
up €60,313 (+442%), from €13,654 to €73,967
of which Other amounts receivable: +€62,298
- Cash +€18,608
up €18,608 (+731%), from €2,544 to €21,152
mainly Trade debts (+€121,495) and Depreciation (+€34,934)
- Tangible fixed assets -€13,835
down €13,835 (-5.1%), from €268,926 to €255,091
of which Other tangible fixed assets: -€13,212
- Stocks and contracts +€10,549
up €10,549 (+2.8%), from €380,566 to €391,114
- Trade debts +€121,495
up €121,495 (+60.7%), from €200,133 to €321,629
- Debts after one year -€49,957
down €49,957 (-32.1%), from €155,849 to €105,892
- Short-term financial debts +€26,105
up €26,105 (+15.0%), from €173,895 to €200,000
- Tax, wage and social debts -€15,367
down €15,367 (-31.4%), from €48,898 to €33,531
of which Remuneration and social security: -€12,608
- Staff costs -€40,627
down €40,627 (-18.4%), from €221,310 to €180,683
- Gross operating margin -€30,053
down €30,053 (-11.1%), from €269,574 to €239,521
- Depreciation +€17,698
up €17,698 (+103%), from €17,236 to €34,934
- Financial charges +€12,883
up €12,883 (+64.5%), from €19,965 to €32,848
- Taxes -€6,486
down €6,486, from €3,798 to -€2,688
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 | €676,782 | €754,683 | +€77,900 | +11.5% |
| Fixed assets | 21/28 | €279,926 | €266,091 | -€13,835 | -4.9% |
| Tangible fixed assets | 22/27 | €268,926 | €255,091 | -€13,835 | -5.1% |
| Land and buildings | 22 | €20,000 | €20,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €85,062 | €84,783 | -€279 | -0.3% |
| Furniture and vehicles | 24 | €8,777 | €8,433 | -€344 | -3.9% |
| Other tangible fixed assets | 26 | €155,087 | €141,875 | -€13,212 | -8.5% |
| Financial fixed assets | 28 | €11,000 | €11,000 | = | 0.0% |
| Current assets | 29/58 | €396,856 | €488,591 | +€91,735 | +23.1% |
| Stocks and contracts in progress | 3 | €380,566 | €391,114 | +€10,549 | +2.8% |
| Stocks | 30/36 | €380,566 | €391,114 | +€10,549 | +2.8% |
| Amounts receivable within one year | 40/41 | €13,654 | €73,967 | +€60,313 | +442% |
| Trade receivables | 40 | €5,152 | €3,167 | -€1,985 | -38.5% |
| Other amounts receivable | 41 | €8,502 | €70,799 | +€62,298 | +733% |
| Cash at bank and in hand | 54/58 | €2,544 | €21,152 | +€18,608 | +731% |
| Deferred charges and accrued income | 490/1 | €92 | €2,358 | +€2,266 | +2,453% |
| Total equity and liabilities | 10/49 | €676,782 | €754,683 | +€77,900 | +11.5% |
| Equity | 10/15 | €36,558 | €30,018 | -€6,540 | -17.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €6,558 | €6,558 | = | 0.0% |
| Distributable reserves | 133 | €6,558 | €6,558 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,540 | -€6,540 | |
| Amounts payable | 17/49 | €640,225 | €724,665 | +€84,440 | +13.2% |
| Amounts payable after more than one year | 17 | €155,849 | €105,892 | -€49,957 | -32.1% |
| Financial debts | 170/4 | €155,849 | €105,892 | -€49,957 | -32.1% |
| Amounts payable within one year | 42/48 | €477,930 | €618,773 | +€140,844 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | €54,974 | €57,741 | +€2,767 | +5.0% |
| Financial debts | 43 | €173,895 | €200,000 | +€26,105 | +15.0% |
| Credit institutions | 430/8 | €173,895 | €200,000 | +€26,105 | +15.0% |
| Trade debts | 44 | €200,133 | €321,629 | +€121,495 | +60.7% |
| Suppliers | 440/4 | €200,133 | €321,629 | +€121,495 | +60.7% |
| Advances received on contracts in progress | 46 | - | €5,872 | +€5,872 | |
| Taxes, remuneration and social security | 45 | €48,898 | €33,531 | -€15,367 | -31.4% |
| Taxes | 450/3 | €6,154 | €3,396 | -€2,758 | -44.8% |
| Remuneration and social security | 454/9 | €42,744 | €30,136 | -€12,608 | -29.5% |
| Other amounts payable | 47/48 | €29 | - | -€29 | |
| Accrued charges and deferred income | 492/3 | €6,447 | - | -€6,447 | |
| Remuneration, social security and pensions | 62 | €221,310 | €180,683 | -€40,627 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,236 | €34,934 | +€17,698 | +103% |
| Other operating charges | 640/8 | €834 | €2,677 | +€1,844 | +221% |
| Gross operating margin | 9900 | €269,574 | €239,521 | -€30,053 | -11.1% |
| Operating profit (loss) | 9901 | €30,194 | €21,227 | -€8,967 | -29.7% |
| Financial income | 75/76B | €126 | €2,393 | +€2,267 | +1,798% |
| Recurring financial income | 75 | €126 | €2,393 | +€2,267 | +1,798% |
| Financial charges | 65/66B | €19,965 | €32,848 | +€12,883 | +64.5% |
| Recurring financial charges | 65 | €19,965 | €32,848 | +€12,883 | +64.5% |
| Profit (loss) for the period before taxes | 9903 | €10,356 | -€9,228 | -€19,584 | |
| Income taxes | 67/77 | €3,798 | -€2,688 | -€6,486 | |
| Profit (loss) for the period | 9904 | €6,558 | -€6,540 | -€13,098 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,558 | -€6,540 | -€13,098 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.