BREUGEL CONCEPT: 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.
BREUGEL CONCEPT
Largest movements
- Receivables within one year -€29,455
down €29,455 (-40.9%), from €72,102 to €42,647
of which Other amounts receivable: -€20,297
- Cash +€9,124
up €9,124 (+22.6%), from €40,300 to €49,424
mainly Net result for the year (+€44,778) and Receivables within one year (+€29,455)
- Tangible fixed assets -€8,719
down €8,719 (-18.5%), from €47,011 to €38,292
of which Furniture and vehicles: -€13,365
- Deferred charges and accrued income +€8,253
up €8,253 (+990%), from €833 to €9,086
- Trade debts -€45,747
down €45,747 (-55.9%), from €81,875 to €36,129
- Profit (loss) carried forward +€14,778
up €14,778 (+47.2%), from €31,306 to €46,084
- Tax, wage and social debts +€13,241
up €13,241 (+70.4%), from €18,819 to €32,060
of which Taxes: +€7,692
- Current portion of long-term debt -€2,431
down €2,431 (-57.8%), from €4,209 to €1,777
- Debts after one year -€1,777
no longer reported in 2025 (was €1,777)
- Gross operating margin +€56,621
up €56,621 (+76.9%), from €73,605 to €130,226
- Staff costs +€6,456
up €6,456 (+17.7%), from €36,571 to €43,027
- Other operating charges +€2,397
up €2,397 (+192%), from €1,246 to €3,643
- Taxes +€2,099
up €2,099 (+21.9%), from €9,576 to €11,674
- Depreciation -€1,574
down €1,574 (-7.5%), from €21,070 to €19,496
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 | €160,886 | €139,950 | -€20,936 | -13.0% |
| Fixed assets | 21/28 | €47,650 | €38,792 | -€8,858 | -18.6% |
| Tangible fixed assets | 22/27 | €47,011 | €38,292 | -€8,719 | -18.5% |
| Plant, machinery and equipment | 23 | €3,437 | €8,083 | +€4,646 | +135% |
| Furniture and vehicles | 24 | €43,575 | €30,210 | -€13,365 | -30.7% |
| Financial fixed assets | 28 | €639 | €500 | -€139 | -21.7% |
| Current assets | 29/58 | €113,236 | €101,157 | -€12,078 | -10.7% |
| Amounts receivable within one year | 40/41 | €72,102 | €42,647 | -€29,455 | -40.9% |
| Trade receivables | 40 | €36,421 | €27,262 | -€9,158 | -25.1% |
| Other amounts receivable | 41 | €35,682 | €15,385 | -€20,297 | -56.9% |
| Cash at bank and in hand | 54/58 | €40,300 | €49,424 | +€9,124 | +22.6% |
| Deferred charges and accrued income | 490/1 | €833 | €9,086 | +€8,253 | +990% |
| Total equity and liabilities | 10/49 | €160,886 | €139,950 | -€20,936 | -13.0% |
| Equity | 10/15 | €39,366 | €54,144 | +€14,778 | +37.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,306 | €46,084 | +€14,778 | +47.2% |
| Amounts payable | 17/49 | €121,520 | €85,806 | -€35,714 | -29.4% |
| Amounts payable after more than one year | 17 | €1,777 | - | -€1,777 | |
| Financial debts | 170/4 | €1,777 | - | -€1,777 | |
| Amounts payable within one year | 42/48 | €119,743 | €85,806 | -€33,937 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €4,209 | €1,777 | -€2,431 | -57.8% |
| Trade debts | 44 | €81,875 | €36,129 | -€45,747 | -55.9% |
| Suppliers | 440/4 | €81,875 | €36,129 | -€45,747 | -55.9% |
| Taxes, remuneration and social security | 45 | €18,819 | €32,060 | +€13,241 | +70.4% |
| Taxes | 450/3 | €12,700 | €20,392 | +€7,692 | +60.6% |
| Remuneration and social security | 454/9 | €6,119 | €11,669 | +€5,550 | +90.7% |
| Other amounts payable | 47/48 | €14,840 | €15,840 | +€1,000 | +6.7% |
| Remuneration, social security and pensions | 62 | €36,571 | €43,027 | +€6,456 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,070 | €19,496 | -€1,574 | -7.5% |
| Other operating charges | 640/8 | €1,246 | €3,643 | +€2,397 | +192% |
| Non-recurring operating charges | 66A | €2,171 | €3,289 | +€1,119 | +51.5% |
| Gross operating margin | 9900 | €73,605 | €130,226 | +€56,621 | +76.9% |
| Operating profit (loss) | 9901 | €12,547 | €60,771 | +€48,223 | +384% |
| Financial income | 75/76B | €6 | €21 | +€15 | +240% |
| Recurring financial income | 75 | €6 | €21 | +€15 | +240% |
| Financial charges | 65/66B | €5,105 | €4,340 | -€765 | -15.0% |
| Recurring financial charges | 65 | €5,105 | €4,340 | -€765 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €7,449 | €56,452 | +€49,003 | +658% |
| Income taxes | 67/77 | €9,576 | €11,674 | +€2,099 | +21.9% |
| Profit (loss) for the period | 9904 | -€2,127 | €44,778 | +€46,905 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,127 | €44,778 | +€46,905 |
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.