Blanckaert-Bruls: 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.
Blanckaert-Bruls
Largest movements
- Cash -€148,682
down €148,682 (-71.3%), from €208,543 to €59,860
mainly Trade debts (-€152,082) and Investment in fixed assets (net) (-€105,022)
- Financial fixed assets +€100,000
new in 2025: €100,000
- Receivables within one year -€65,544
down €65,544 (-28.1%), from €233,539 to €167,996
of which Other amounts receivable: -€98,146
- Trade debts -€152,082
down €152,082 (-57.3%), from €265,629 to €113,547
- Profit (loss) carried forward +€53,812
up €53,812 (+57.3%), from -€93,848 to -€40,037
- Other debts -€21,922
down €21,922 (-100.0%), from €21,922 to €0
- Tax, wage and social debts +€9,130
up €9,130 (+39.8%), from €22,942 to €32,072
of which Taxes: +€6,368
- Short-term financial debts +€8,054
up €8,054 (+413.8%), from €1,946 to €10,000
- Gross operating margin +€28,817
up €28,817 (+21.2%), from €135,784 to €164,602
- Staff costs +€2,389
up €2,389 (+2.3%), from €102,239 to €104,628
- Depreciation +€1,781
up €1,781 (+55.5%), from €3,207 to €4,988
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 | €459,266 | €345,073 | -€114,192 | -24.9% |
| Fixed assets | 21/28 | €17,184 | €117,217 | +€100,034 | +582.1% |
| Tangible fixed assets | 22/27 | €17,184 | €17,217 | +€34 | +0.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €5,729 | €12,797 | +€7,069 | +123.4% |
| Other tangible fixed assets | 26 | €11,455 | €4,420 | -€7,035 | -61.4% |
| Financial fixed assets | 28 | - | €100,000 | +€100,000 | |
| Current assets | 29/58 | €442,082 | €227,856 | -€214,226 | -48.5% |
| Amounts receivable within one year | 40/41 | €233,539 | €167,996 | -€65,544 | -28.1% |
| Trade receivables | 40 | €122,658 | €155,260 | +€32,602 | +26.6% |
| Other amounts receivable | 41 | €110,881 | €12,735 | -€98,146 | -88.5% |
| Cash at bank and in hand | 54/58 | €208,543 | €59,860 | -€148,682 | -71.3% |
| Total equity and liabilities | 10/49 | €459,266 | €345,073 | -€114,192 | -24.9% |
| Equity | 10/15 | €130,329 | €184,141 | +€53,812 | +41.3% |
| Contributions | 10/11 | €15,255 | €15,255 | = | 0.0% |
| Reserves | 13 | €208,922 | €208,922 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €192,062 | €192,062 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,848 | -€40,037 | +€53,812 | +57.3% |
| Amounts payable | 17/49 | €328,937 | €160,933 | -€168,004 | -51.1% |
| Amounts payable after more than one year | 17 | €5,314 | €0 | -€5,314 | -100.0% |
| Financial debts | 170/4 | €5,314 | €0 | -€5,314 | -100.0% |
| Amounts payable within one year | 42/48 | €323,623 | €160,933 | -€162,690 | -50.3% |
| Current portion of amounts payable after more than one year | 42 | €11,184 | €5,314 | -€5,870 | -52.5% |
| Financial debts | 43 | €1,946 | €10,000 | +€8,054 | +413.8% |
| Credit institutions | 430/8 | €1,946 | €10,000 | +€8,054 | +413.8% |
| Trade debts | 44 | €265,629 | €113,547 | -€152,082 | -57.3% |
| Suppliers | 440/4 | €265,629 | €113,547 | -€152,082 | -57.3% |
| Taxes, remuneration and social security | 45 | €22,942 | €32,072 | +€9,130 | +39.8% |
| Taxes | 450/3 | €8,818 | €15,185 | +€6,368 | +72.2% |
| Remuneration and social security | 454/9 | €14,124 | €16,887 | +€2,762 | +19.6% |
| Other amounts payable | 47/48 | €21,922 | €0 | -€21,922 | -100.0% |
| Remuneration, social security and pensions | 62 | €102,239 | €104,628 | +€2,389 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,207 | €4,988 | +€1,781 | +55.5% |
| Other operating charges | 640/8 | €865 | €537 | -€328 | -37.9% |
| Non-recurring operating charges | 66A | €4,910 | €0 | -€4,910 | -100.0% |
| Gross operating margin | 9900 | €135,784 | €164,602 | +€28,817 | +21.2% |
| Operating profit (loss) | 9901 | €24,563 | €54,449 | +€29,886 | +121.7% |
| Financial income | 75/76B | €1,385 | €2 | -€1,383 | -99.9% |
| Recurring financial income | 75 | €1,385 | €2 | -€1,383 | -99.9% |
| Financial charges | 65/66B | €1,017 | €639 | -€378 | -37.2% |
| Recurring financial charges | 65 | €1,017 | €639 | -€378 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €24,931 | €53,812 | +€28,881 | +115.8% |
| Profit (loss) for the period | 9904 | €24,931 | €53,812 | +€28,881 | +115.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,931 | €53,812 | +€28,881 | +115.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.