Bright Roads: 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.
Bright Roads
Largest movements
- Current investments +€1.0m
new in 2025: €1.0m
- Receivables after one year +€600,631
new in 2025: €600,631
- Cash +€454,907
up €454,907 (+891%), from €51,043 to €505,949
mainly Net result for the year (+€48.3m) and Smaller working-capital items (+€69,673)
- Financial fixed assets +€312,000
up €312,000 (+2.3%), from €13.7m to €14.0m
of which Affiliated companies: +€312,000
- Receivables within one year +€253,417
up €253,417 (+67.5%), from €375,173 to €628,590
of which Trade receivables: +€177,695
- Profit (loss) carried forward +€2.0m
up €2.0m (+38.2%), from €5.3m to €7.3m
- Reserves +€1.3m
up €1.3m (+392%), from €330,664 to €1.6m
- Tax, wage and social debts -€375,317
down €375,317 (-72.1%), from €520,381 to €145,064
of which Remuneration and social security: -€348,345
- Other debts -€270,809
down €270,809 (-13.9%), from €1.9m to €1.7m
- Financial income +€48.2m
up €48.2m (+390,198%), from €12,348 to €48.2m
- Services and other goods +€432,604
up €432,604 (+51.1%), from €845,768 to €1.3m
- Turnover +€271,915
up €271,915 (+14.8%), from €1.8m to €2.1m
- Staff costs -€112,944
down €112,944 (-10.4%), from €1.1m to €969,227
- Taxes +€64,671
up €64,671 (+8,166%), from €792 to €65,463
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 | €14,163,367 | €16,828,115 | +€2.7m | +18.8% |
| Fixed assets | 21/28 | €13,719,731 | €14,025,319 | +€305,588 | +2.2% |
| Tangible fixed assets | 22/27 | €32,105 | €25,693 | -€6,412 | -20.0% |
| Furniture and vehicles | 24 | €32,105 | €25,693 | -€6,412 | -20.0% |
| Financial fixed assets | 28 | €13,687,625 | €13,999,625 | +€312,000 | +2.3% |
| Affiliated companies | 280/1 | €13,686,524 | €13,998,524 | +€312,000 | +2.3% |
| Participating interests | 280 | €13,686,524 | €13,998,524 | +€312,000 | +2.3% |
| Other financial fixed assets | 284/8 | €1,102 | €1,102 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,102 | €1,102 | = | 0.0% |
| Current assets | 29/58 | €443,637 | €2,802,796 | +€2.4m | +532% |
| Amounts receivable after more than one year | 29 | - | €600,631 | +€600,631 | |
| Other amounts receivable | 291 | - | €600,631 | +€600,631 | |
| Amounts receivable within one year | 40/41 | €375,173 | €628,590 | +€253,417 | +67.5% |
| Trade receivables | 40 | €270,687 | €448,382 | +€177,695 | +65.6% |
| Other amounts receivable | 41 | €104,486 | €180,208 | +€75,722 | +72.5% |
| Current investments | 50/53 | - | €1,038,844 | +€1.0m | |
| Own shares | 50 | - | €1,038,844 | +€1.0m | |
| Cash at bank and in hand | 54/58 | €51,043 | €505,949 | +€454,907 | +891% |
| Deferred charges and accrued income | 490/1 | €17,421 | €28,782 | +€11,361 | +65.2% |
| Total equity and liabilities | 10/49 | €14,163,367 | €16,828,115 | +€2.7m | +18.8% |
| Equity | 10/15 | €11,451,271 | €14,752,260 | +€3.3m | +28.8% |
| Contributions | 10/11 | €5,868,146 | €5,868,146 | = | 0.0% |
| Capital | 10 | €5,868,146 | €5,868,146 | = | 0.0% |
| Issued capital | 100 | €5,868,146 | €5,868,146 | = | 0.0% |
| Reserves | 13 | €330,664 | €1,625,658 | +€1.3m | +392% |
| Non-distributable reserves | 130/1 | €330,664 | €1,625,658 | +€1.3m | +392% |
| Legal reserve | 130 | €330,664 | €586,815 | +€256,151 | +77.5% |
| Own shares acquired | 1312 | - | €1,038,844 | +€1.0m | |
| Profit (loss) carried forward | 14 | €5,252,461 | €7,258,456 | +€2.0m | +38.2% |
| Amounts payable | 17/49 | €2,712,097 | €2,075,855 | -€636,242 | -23.5% |
| Amounts payable within one year | 42/48 | €2,712,097 | €2,075,855 | -€636,242 | -23.5% |
| Financial debts | 43 | €71,150 | - | -€71,150 | |
| Credit institutions | 430/8 | €71,150 | - | -€71,150 | |
| Trade debts | 44 | €179,172 | €260,206 | +€81,034 | +45.2% |
| Suppliers | 440/4 | €179,172 | €260,206 | +€81,034 | +45.2% |
| Taxes, remuneration and social security | 45 | €520,381 | €145,064 | -€375,317 | -72.1% |
| Taxes | 450/3 | €42,470 | €15,498 | -€26,972 | -63.5% |
| Remuneration and social security | 454/9 | €477,911 | €129,566 | -€348,345 | -72.9% |
| Other amounts payable | 47/48 | €1,941,394 | €1,670,584 | -€270,809 | -13.9% |
| Operating income | 70/76A | €2,175,793 | €2,458,896 | +€283,103 | +13.0% |
| Turnover | 70 | €1,838,875 | €2,110,790 | +€271,915 | +14.8% |
| Other operating income | 74 | €313,701 | €348,106 | +€34,405 | +11.0% |
| Non-recurring operating income | 76A | €23,218 | - | -€23,218 | |
| Operating charges | 60/66A | €2,302,252 | €2,255,885 | -€46,367 | -2.0% |
| Services and other goods | 61 | €845,768 | €1,278,372 | +€432,604 | +51.1% |
| Remuneration, social security and pensions | 62 | €1,082,171 | €969,227 | -€112,944 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,436 | €7,923 | +€2,486 | +45.7% |
| Other operating charges | 640/8 | €525 | €363 | -€161 | -30.8% |
| Non-recurring operating charges | 66A | €368,352 | - | -€368,352 | |
| Operating profit (loss) | 9901 | -€126,459 | €203,011 | +€329,470 | |
| Financial income | 75/76B | €12,348 | €48,193,218 | +€48.2m | +390,198% |
| Recurring financial income | 75 | €12,348 | €48,193,218 | +€48.2m | +390,198% |
| Income from financial fixed assets | 750 | - | €48,051,247 | +€48.1m | |
| Income from current assets | 751 | - | €137,281 | +€137,281 | |
| Other financial income | 752/9 | €12,348 | €4,691 | -€7,657 | -62.0% |
| Financial charges | 65/66B | €16,937 | €13,727 | -€3,210 | -19.0% |
| Recurring financial charges | 65 | €16,937 | €13,727 | -€3,210 | -19.0% |
| Debt charges | 650 | - | €2,982 | +€2,982 | |
| Other financial charges | 652/9 | €16,937 | €10,745 | -€6,192 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | -€131,048 | €48,382,502 | +€48.5m | |
| Income taxes | 67/77 | €792 | €65,463 | +€64,671 | +8,166% |
| Taxes | 670/3 | €792 | €65,463 | +€64,671 | +8,166% |
| Profit (loss) for the period | 9904 | -€131,840 | €48,317,039 | +€48.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€131,840 | €48,317,039 | +€48.4m |
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 28 October 2026 via checked.be.