Brecht Deruyck: 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.
What changed
Brecht Deruyck
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1,077
2024 · €9,024-€10,101
Equity
€870,739
2024 · €871,816-€1,077
Cash
€3,051
2024 · €10,180-€7,129
Balance sheet total
€1.1m
2024 · €1.2m-€55,929
Largest movements
Assets
- Tangible fixed assets -€35,419
down €35,419 (-23.5%), from €150,680 to €115,261
- Receivables within one year -€13,406
down €13,406 (-61.6%), from €21,750 to €8,344
of which Trade receivables: -€18,150
Equity and liabilities
- Debts after one year -€53,465
down €53,465 (-41.1%), from €130,044 to €76,580
Income statement
- Turnover +€195,000
new in 2025: €195,000
- Purchases and services +€156,108
new in 2025: €156,108
- Depreciation +€13,560
up €13,560 (+62.0%), from €21,859 to €35,419
- Taxes -€5,382
down €5,382, from €5,290 to -€92
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.
Result 2024
€9,024
Gross operating margin
-€626
Depreciation
-€13,560
Other operating charges
-€364
Financial charges
-€933
Taxes
+€5,382
Result 2025
-€1,077
raises the resultlowers the result
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.
From operations
+€50,172
Investment
€0
Financing
-€57,301
Cash 2024
€10,180
From operations (derived)
+€50,172
Net result for the year
-€1,077
Depreciation
+€35,419
Receivables within one year
+€13,406
Deferred charges and accrued income
-€25
Trade debts
-€1,031
Tax, wage and social debts
+€3,009
Other debts
+€253
Accrued charges and deferred income
+€218
Financing
-€57,301
Debts after one year
-€53,465
Current portion of long-term debt
-€3,836
Cash 2025
€3,051
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,188,423 | €1,132,494 | -€55,929 | -4.7% |
| Fixed assets | 21/28 | €1,154,930 | €1,119,511 | -€35,419 | -3.1% |
| Tangible fixed assets | 22/27 | €150,680 | €115,261 | -€35,419 | -23.5% |
| Furniture and vehicles | 24 | €150,680 | €115,261 | -€35,419 | -23.5% |
| Financial fixed assets | 28 | €1,004,250 | €1,004,250 | = | 0.0% |
| Current assets | 29/58 | €33,493 | €12,983 | -€20,510 | -61.2% |
| Amounts receivable within one year | 40/41 | €21,750 | €8,344 | -€13,406 | -61.6% |
| Trade receivables | 40 | €18,150 | €0 | -€18,150 | -100% |
| Other amounts receivable | 41 | €3,600 | €8,344 | +€4,744 | +132% |
| Cash at bank and in hand | 54/58 | €10,180 | €3,051 | -€7,129 | -70.0% |
| Deferred charges and accrued income | 490/1 | €1,563 | €1,588 | +€25 | +1.6% |
| Total equity and liabilities | 10/49 | €1,188,423 | €1,132,494 | -€55,929 | -4.7% |
| Equity | 10/15 | €871,816 | €870,739 | -€1,077 | -0.1% |
| Contributions | 10/11 | €460,000 | €460,000 | = | 0.0% |
| Reserves | 13 | €302,961 | €302,961 | = | 0.0% |
| Distributable reserves | 133 | €302,961 | €302,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,856 | €107,779 | -€1,077 | -1.0% |
| Amounts payable | 17/49 | €316,607 | €261,755 | -€54,852 | -17.3% |
| Amounts payable after more than one year | 17 | €130,044 | €76,580 | -€53,465 | -41.1% |
| Financial debts | 170/4 | €130,044 | €76,580 | -€53,465 | -41.1% |
| Amounts payable within one year | 42/48 | €182,789 | €181,184 | -€1,605 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €57,301 | €53,465 | -€3,836 | -6.7% |
| Trade debts | 44 | €1,633 | €602 | -€1,031 | -63.1% |
| Suppliers | 440/4 | €1,633 | €602 | -€1,031 | -63.1% |
| Taxes, remuneration and social security | 45 | €14,952 | €17,960 | +€3,009 | +20.1% |
| Taxes | 450/3 | €14,952 | €14,735 | -€216 | -1.4% |
| Remuneration and social security | 454/9 | - | €3,225 | +€3,225 | |
| Other amounts payable | 47/48 | €108,904 | €109,157 | +€253 | +0.2% |
| Accrued charges and deferred income | 492/3 | €3,774 | €3,991 | +€218 | +5.8% |
| Turnover | 70 | - | €195,000 | +€195,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €156,108 | +€156,108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,859 | €35,419 | +€13,560 | +62.0% |
| Other operating charges | 640/8 | €1,404 | €1,768 | +€364 | +25.9% |
| Gross operating margin | 9900 | €47,208 | €46,581 | -€626 | -1.3% |
| Operating profit (loss) | 9901 | €23,945 | €9,395 | -€14,551 | -60.8% |
| Financial charges | 65/66B | €9,631 | €10,564 | +€933 | +9.7% |
| Recurring financial charges | 65 | €9,631 | €10,564 | +€933 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €14,314 | -€1,169 | -€15,483 | |
| Income taxes | 67/77 | €5,290 | -€92 | -€5,382 | |
| Profit (loss) for the period | 9904 | €9,024 | -€1,077 | -€10,101 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,024 | -€1,077 | -€10,101 |
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 26 October 2026 via checked.be.