Bram Le Bruyn: 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.
Bram Le Bruyn
Largest movements
- Cash +€85,785
up €85,785 (+229%), from €37,440 to €123,225
mainly Net result for the year (+€130,042) and Tax, wage and social debts (+€30,780)
- Receivables after one year +€20,047
new in 2025: €20,047
- Current investments +€18,045
new in 2025: €18,045
- Receivables within one year +€17,173
up €17,173 (+54.1%), from €31,728 to €48,901
of which Other amounts receivable: +€40,830
- Tangible fixed assets +€9,717
up €9,717 (+397%), from €2,446 to €12,162
of which Plant, machinery and equipment: +€7,587
- Profit (loss) carried forward +€129,111
up €129,111 (+396%), from €32,601 to €161,712
- Tax, wage and social debts +€30,780
up €30,780 (+197%), from €15,643 to €46,422
of which Taxes: +€24,492
- Other debts -€7,241
no longer reported in 2025 (was €7,241)
- Turnover +€127,961
up €127,961 (+59.3%), from €215,930 to €343,891
- Gross operating margin +€117,993
up €117,993 (+215%), from €54,778 to €172,772
- Taxes +€26,572
up €26,572 (+240%), from €11,070 to €37,642
- Purchases and services +€9,967
up €9,967 (+6.2%), from €161,152 to €171,119
- Financial charges +€4,020
up €4,020 (+45,947%), from €9 to €4,029
of which Financial charges: +€4,020
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 | €72,950 | €224,984 | +€152,034 | +208% |
| Formation expenses | 20 | €1,337 | €997 | -€340 | -25.4% |
| Fixed assets | 21/28 | €2,446 | €12,212 | +€9,767 | +399% |
| Tangible fixed assets | 22/27 | €2,446 | €12,162 | +€9,717 | +397% |
| Plant, machinery and equipment | 23 | €2,446 | €10,033 | +€7,587 | +310% |
| Other tangible fixed assets | 26 | - | €2,130 | +€2,130 | |
| Financial fixed assets | 28 | - | €50 | +€50 | |
| Current assets | 29/58 | €69,168 | €211,775 | +€142,607 | +206% |
| Amounts receivable after more than one year | 29 | - | €20,047 | +€20,047 | |
| Trade receivables | 290 | - | €20,047 | +€20,047 | |
| Amounts receivable within one year | 40/41 | €31,728 | €48,901 | +€17,173 | +54.1% |
| Trade receivables | 40 | €23,656 | - | -€23,656 | |
| Other amounts receivable | 41 | €8,072 | €48,901 | +€40,830 | +506% |
| Current investments | 50/53 | - | €18,045 | +€18,045 | |
| Cash at bank and in hand | 54/58 | €37,440 | €123,225 | +€85,785 | +229% |
| Deferred charges and accrued income | 490/1 | - | €1,557 | +€1,557 | |
| Total equity and liabilities | 10/49 | €72,950 | €224,984 | +€152,034 | +208% |
| Equity | 10/15 | €47,601 | €176,712 | +€129,111 | +271% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,601 | €161,712 | +€129,111 | +396% |
| Amounts payable | 17/49 | €25,349 | €48,272 | +€22,923 | +90.4% |
| Amounts payable within one year | 42/48 | €25,349 | €48,272 | +€22,923 | +90.4% |
| Trade debts | 44 | €2,466 | €1,850 | -€616 | -25.0% |
| Suppliers | 440/4 | €2,466 | €1,850 | -€616 | -25.0% |
| Taxes, remuneration and social security | 45 | €15,643 | €46,422 | +€30,780 | +197% |
| Taxes | 450/3 | €15,643 | €40,134 | +€24,492 | +157% |
| Remuneration and social security | 454/9 | - | €6,288 | +€6,288 | |
| Other amounts payable | 47/48 | €7,241 | - | -€7,241 | |
| Turnover | 70 | €215,930 | €343,891 | +€127,961 | +59.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €161,152 | €171,119 | +€9,967 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,179 | €1,607 | +€429 | +36.4% |
| Other operating charges | 640/8 | €733 | €858 | +€125 | +17.1% |
| Gross operating margin | 9900 | €54,778 | €172,772 | +€117,993 | +215% |
| Operating profit (loss) | 9901 | €52,867 | €170,307 | +€117,439 | +222% |
| Financial income | 75/76B | €226 | €1,406 | +€1,180 | +522% |
| Recurring financial income | 75 | €226 | €1,406 | +€1,180 | +522% |
| Non-recurring financial income | 76B | €226 | €1,406 | +€1,180 | +522% |
| Financial charges | 65/66B | €9 | €4,029 | +€4,020 | +45,947% |
| Recurring financial charges | 65 | €9 | €4,029 | +€4,020 | +45,947% |
| Non-recurring financial charges | 66B | €9 | - | -€9 | |
| Profit (loss) for the period before taxes | 9903 | €53,085 | €167,684 | +€114,599 | +216% |
| Income taxes | 67/77 | €11,070 | €37,642 | +€26,572 | +240% |
| Profit (loss) for the period | 9904 | €42,014 | €130,042 | +€88,028 | +210% |
| Profit (loss) for the period to be appropriated | 9905 | €42,014 | €130,042 | +€88,028 | +210% |
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 29 October 2026 via checked.be.