BENOIT BRUYERE: 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.
BENOIT BRUYERE
Largest movements
- Receivables within one year -€33,007
down €33,007 (-36.4%), from €90,795 to €57,788
of which Trade receivables: -€31,458
- Tangible fixed assets -€19,424
down €19,424 (-44.5%), from €43,682 to €24,258
of which Furniture and vehicles: -€10,889
- Other debts +€23,077
up €23,077 (+6,090%), from €379 to €23,456
- Debts after one year -€22,083
down €22,083 (-82.3%), from €26,841 to €4,758
- Trade debts -€19,406
down €19,406 (-31.2%), from €62,103 to €42,696
- Profit (loss) carried forward -€17,901
down €17,901 (-29.7%), from -€60,295 to -€78,196
- Short-term financial debts -€10,897
down €10,897 (-77.4%), from €14,079 to €3,182
- Gross operating margin +€31,224
up €31,224, from -€204 to €31,020
- Other operating charges +€11,798
up €11,798 (+719%), from €1,641 to €13,439
- Staff costs -€5,278
down €5,278 (-33.3%), from €15,860 to €10,583
- Depreciation -€3,388
down €3,388 (-14.9%), from €22,811 to €19,424
- Financial charges -€2,030
down €2,030 (-27.1%), from €7,492 to €5,462
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €140,038 | €88,729 | -€51,309 | -36.6% |
| Fixed assets | 21/28 | €43,682 | €24,258 | -€19,424 | -44.5% |
| Tangible fixed assets | 22/27 | €43,682 | €24,258 | -€19,424 | -44.5% |
| Land and buildings | 22 | €7,013 | €5,798 | -€1,215 | -17.3% |
| Furniture and vehicles | 24 | €27,163 | €16,273 | -€10,889 | -40.1% |
| Leasing and similar rights | 25 | €9,506 | €2,186 | -€7,320 | -77.0% |
| Current assets | 29/58 | €96,356 | €64,471 | -€31,885 | -33.1% |
| Stocks and contracts in progress | 3 | €5,000 | €5,687 | +€687 | +13.7% |
| Stocks | 30/36 | €5,000 | €5,687 | +€687 | +13.7% |
| Amounts receivable within one year | 40/41 | €90,795 | €57,788 | -€33,007 | -36.4% |
| Trade receivables | 40 | €88,371 | €56,913 | -€31,458 | -35.6% |
| Other amounts receivable | 41 | €2,425 | €875 | -€1,549 | -63.9% |
| Deferred charges and accrued income | 490/1 | €561 | €996 | +€435 | +77.6% |
| Total equity and liabilities | 10/49 | €140,038 | €88,729 | -€51,309 | -36.6% |
| Equity | 10/15 | €33 | -€17,867 | -€17,901 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €54,129 | €54,129 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,609 | €7,609 | = | 0.0% |
| Distributable reserves | 133 | €46,519 | €46,519 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,295 | -€78,196 | -€17,901 | -29.7% |
| Amounts payable | 17/49 | €140,005 | €106,596 | -€33,408 | -23.9% |
| Amounts payable after more than one year | 17 | €26,841 | €4,758 | -€22,083 | -82.3% |
| Financial debts | 170/4 | €26,841 | €4,758 | -€22,083 | -82.3% |
| Amounts payable within one year | 42/48 | €109,367 | €94,246 | -€15,121 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €32,577 | €22,026 | -€10,551 | -32.4% |
| Financial debts | 43 | €14,079 | €3,182 | -€10,897 | -77.4% |
| Credit institutions | 430/8 | €14,079 | €3,182 | -€10,897 | -77.4% |
| Trade debts | 44 | €62,103 | €42,696 | -€19,406 | -31.2% |
| Suppliers | 440/4 | €62,103 | €42,696 | -€19,406 | -31.2% |
| Taxes, remuneration and social security | 45 | €230 | €2,886 | +€2,657 | +1,157% |
| Taxes | 450/3 | €230 | €2,384 | +€2,155 | +938% |
| Remuneration and social security | 454/9 | - | €502 | +€502 | |
| Other amounts payable | 47/48 | €379 | €23,456 | +€23,077 | +6,090% |
| Accrued charges and deferred income | 492/3 | €3,796 | €7,592 | +€3,796 | +100% |
| Remuneration, social security and pensions | 62 | €15,860 | €10,583 | -€5,278 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,811 | €19,424 | -€3,388 | -14.9% |
| Other operating charges | 640/8 | €1,641 | €13,439 | +€11,798 | +719% |
| Gross operating margin | 9900 | -€204 | €31,020 | +€31,224 | |
| Operating profit (loss) | 9901 | -€40,517 | -€12,426 | +€28,091 | +69.3% |
| Financial income | 75/76B | €169 | €204 | +€35 | +20.7% |
| Recurring financial income | 75 | €169 | €204 | +€35 | +20.7% |
| Financial charges | 65/66B | €7,492 | €5,462 | -€2,030 | -27.1% |
| Recurring financial charges | 65 | €7,492 | €5,462 | -€2,030 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€47,839 | -€17,683 | +€30,156 | +63.0% |
| Income taxes | 67/77 | €208 | €218 | +€9 | +4.6% |
| Profit (loss) for the period | 9904 | -€48,048 | -€17,901 | +€30,147 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,048 | -€17,901 | +€30,147 | +62.7% |
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 15 October 2026 via checked.be.