BRIGHT SQUARE: 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.
BRIGHT SQUARE
Largest movements
- Cash +€139,529
up €139,529 (+71.7%), from €194,723 to €334,252
mainly Net result for the year (+€293,041) and Current investments (+€50,000)
- Tangible fixed assets +€116,662
up €116,662 (+111.8%), from €104,308 to €220,970
of which Other tangible fixed assets: +€111,540
- Current investments -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Deferred charges and accrued income +€16,179
up €16,179 (+215.7%), from €7,501 to €23,679
- Receivables within one year -€13,988
down €13,988 (-5.2%), from €270,905 to €256,917
of which Other amounts receivable: -€34,852
- Reserves +€145,041
up €145,041 (+34.7%), from €418,117 to €563,158
of which Distributable reserves: +€145,041
- Debts after one year +€29,688
up €29,688 (+92.3%), from €32,179 to €61,866
- Other debts -€29,475
down €29,475 (-24.3%), from €121,472 to €91,997
- Trade debts +€23,983
up €23,983 (+78.1%), from €30,724 to €54,708
- Tax, wage and social debts +€19,662
up €19,662 (+50.0%), from €39,347 to €59,009
of which Taxes: +€16,285
- Gross operating margin +€67,984
up €67,984 (+10.8%), from €630,610 to €698,593
- Financial income +€44,068
up €44,068 (+2897.6%), from €1,521 to €45,589
- Taxes +€27,281
up €27,281 (+46.7%), from €58,400 to €85,681
- Other operating charges +€17,982
up €17,982 (+1638.3%), from €1,098 to €19,080
- Write-downs +€8,643
up €8,643 (+476.7%), from €1,813 to €10,456
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 | €671,069 | €869,650 | +€198,581 | +29.6% |
| Fixed assets | 21/28 | €147,940 | €254,803 | +€106,862 | +72.2% |
| Intangible fixed assets | 21 | €43,632 | €33,832 | -€9,800 | -22.5% |
| Tangible fixed assets | 22/27 | €104,308 | €220,970 | +€116,662 | +111.8% |
| Plant, machinery and equipment | 23 | €12,158 | €6,667 | -€5,491 | -45.2% |
| Furniture and vehicles | 24 | €85,702 | €96,314 | +€10,612 | +12.4% |
| Other tangible fixed assets | 26 | €6,448 | €117,989 | +€111,540 | +1729.7% |
| Current assets | 29/58 | €523,129 | €614,848 | +€91,719 | +17.5% |
| Amounts receivable within one year | 40/41 | €270,905 | €256,917 | -€13,988 | -5.2% |
| Trade receivables | 40 | €219,305 | €240,168 | +€20,863 | +9.5% |
| Other amounts receivable | 41 | €51,600 | €16,748 | -€34,852 | -67.5% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €194,723 | €334,252 | +€139,529 | +71.7% |
| Deferred charges and accrued income | 490/1 | €7,501 | €23,679 | +€16,179 | +215.7% |
| Total equity and liabilities | 10/49 | €671,069 | €869,650 | +€198,581 | +29.6% |
| Equity | 10/15 | €436,717 | €581,758 | +€145,041 | +33.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €418,117 | €563,158 | +€145,041 | +34.7% |
| Tax-exempt reserves | 132 | €4,262 | €4,262 | = | 0.0% |
| Distributable reserves | 133 | €413,855 | €558,896 | +€145,041 | +35.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €234,352 | €287,892 | +€53,540 | +22.8% |
| Amounts payable after more than one year | 17 | €32,179 | €61,866 | +€29,688 | +92.3% |
| Financial debts | 170/4 | €32,179 | €61,866 | +€29,688 | +92.3% |
| Amounts payable within one year | 42/48 | €202,173 | €226,026 | +€23,853 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €10,630 | €20,312 | +€9,682 | +91.1% |
| Trade debts | 44 | €30,724 | €54,708 | +€23,983 | +78.1% |
| Suppliers | 440/4 | €30,724 | €54,708 | +€23,983 | +78.1% |
| Taxes, remuneration and social security | 45 | €39,347 | €59,009 | +€19,662 | +50.0% |
| Taxes | 450/3 | €14,204 | €30,490 | +€16,285 | +114.7% |
| Remuneration and social security | 454/9 | €25,143 | €28,519 | +€3,377 | +13.4% |
| Other amounts payable | 47/48 | €121,472 | €91,997 | -€29,475 | -24.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €287,105 | €284,905 | -€2,201 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,955 | €44,655 | +€6,700 | +17.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,813 | €10,456 | +€8,643 | +476.7% |
| Other operating charges | 640/8 | €1,098 | €19,080 | +€17,982 | +1638.3% |
| Non-recurring operating charges | 66A | €461 | €392 | -€69 | -15.0% |
| Gross operating margin | 9900 | €630,610 | €698,593 | +€67,984 | +10.8% |
| Operating profit (loss) | 9901 | €302,178 | €339,107 | +€36,929 | +12.2% |
| Financial income | 75/76B | €1,521 | €45,589 | +€44,068 | +2897.6% |
| Recurring financial income | 75 | €1,521 | €45,589 | +€44,068 | +2897.6% |
| Financial charges | 65/66B | €2,161 | €5,974 | +€3,813 | +176.5% |
| Recurring financial charges | 65 | €2,161 | €5,974 | +€3,813 | +176.5% |
| Profit (loss) for the period before taxes | 9903 | €301,538 | €378,722 | +€77,184 | +25.6% |
| Income taxes | 67/77 | €58,400 | €85,681 | +€27,281 | +46.7% |
| Profit (loss) for the period | 9904 | €243,138 | €293,041 | +€49,903 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €243,138 | €293,041 | +€49,903 | +20.5% |
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 8 October 2026 via checked.be.