BRUALFA: 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.
What changed
BRUALFA
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€21,774
2024 · -€20,827+€42,601
Equity
€205,806
2024 · €184,032+€21,774
Cash
€14,999
2024 · €47,817-€32,818
Balance sheet total
€1.9m
2024 · €1.8m+€91,116
Largest movements
Assets
- Receivables within one year +€157,903
up €157,903 (+38.0%), from €415,067 to €572,971
of which Trade receivables: +€144,694
- Formation expenses -€40,807
down €40,807 (-33.3%), from €122,422 to €81,614
- Cash -€32,818
down €32,818 (-68.6%), from €47,817 to €14,999
mainly Receivables within one year (-€157,903) and Investment in fixed assets (net) (-€138,063)
Equity and liabilities
- Trade debts +€65,142
up €65,142 (+22.2%), from €294,081 to €359,223
- Profit (loss) carried forward +€21,774
up €21,774 (+1.8%), from -€1.2m to -€1.2m
Income statement
- Turnover +€282,610
up €282,610 (+25.5%), from €1.1m to €1.4m
- Goods and materials +€134,024
up €134,024 (+21.5%), from €622,984 to €757,008
- Depreciation +€37,006
up €37,006 (+27.4%), from €135,026 to €172,033
- Staff costs -€34,257
down €34,257 (-10.5%), from €325,712 to €291,455
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
-€20,827
Turnover
+€282,610
Other operating income
+€4,146
Goods and materials
-€134,024
Services and other goods
+€1,906
Staff costs
+€34,257
Depreciation
-€37,006
Other operating charges
-€12,029
Other operating items
-€96,117
Financial charges
-€770
Taxes
-€372
Result 2025
€21,774
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.
From operations
+€105,245
Investment
-€138,063
Financing
€0
Cash 2024
€47,817
From operations (derived)
+€105,245
Net result for the year
+€21,774
Depreciation
+€172,033
Receivables within one year
-€157,903
Trade debts
+€65,142
Tax, wage and social debts
+€4,200
Investment (derived)
-€138,063
Investment in fixed assets (net)
-€138,063
Cash 2025
€14,999
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,841,761 | €1,932,876 | +€91,116 | +4.9% |
| Formation expenses | 20 | €122,422 | €81,614 | -€40,807 | -33.3% |
| Fixed assets | 21/28 | €1,256,454 | €1,263,292 | +€6,838 | +0.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €454,952 | €461,790 | +€6,838 | +1.5% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €449,793 | €460,711 | +€10,917 | +2.4% |
| Furniture and vehicles | 24 | €5,159 | €1,079 | -€4,079 | -79.1% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €801,502 | €801,502 | = | 0.0% |
| Affiliated companies | 280/1 | €765,952 | €765,952 | = | 0.0% |
| Amounts receivable | 281 | €765,952 | €765,952 | = | 0.0% |
| Other financial fixed assets | 284/8 | €35,550 | €35,550 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €35,550 | €35,550 | = | 0.0% |
| Current assets | 29/58 | €462,885 | €587,970 | +€125,085 | +27.0% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Stocks | 30/36 | €0 | €0 | = | |
| Raw materials and consumables | 30/31 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €415,067 | €572,971 | +€157,903 | +38.0% |
| Trade receivables | 40 | €344,758 | €489,452 | +€144,694 | +42.0% |
| Other amounts receivable | 41 | €70,309 | €83,519 | +€13,209 | +18.8% |
| Cash at bank and in hand | 54/58 | €47,817 | €14,999 | -€32,818 | -68.6% |
| Total equity and liabilities | 10/49 | €1,841,761 | €1,932,876 | +€91,116 | +4.9% |
| Equity | 10/15 | €184,032 | €205,806 | +€21,774 | +11.8% |
| Contributions | 10/11 | €248,000 | €248,000 | = | 0.0% |
| Capital | 10 | €248,000 | €248,000 | = | 0.0% |
| Issued capital | 100 | €248,000 | €248,000 | = | 0.0% |
| Reserves | 13 | €1,148,685 | €1,148,685 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,800 | €24,800 | = | 0.0% |
| Legal reserve | 130 | €24,800 | €24,800 | = | 0.0% |
| Distributable reserves | 133 | €1,123,885 | €1,123,885 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,212,653 | -€1,190,879 | +€21,774 | +1.8% |
| Amounts payable | 17/49 | €1,657,728 | €1,727,070 | +€69,342 | +4.2% |
| Amounts payable within one year | 42/48 | €1,657,728 | €1,727,070 | +€69,342 | +4.2% |
| Trade debts | 44 | €294,081 | €359,223 | +€65,142 | +22.2% |
| Suppliers | 440/4 | €294,081 | €359,223 | +€65,142 | +22.2% |
| Taxes, remuneration and social security | 45 | €30,095 | €34,295 | +€4,200 | +14.0% |
| Taxes | 450/3 | €4,428 | €4,007 | -€421 | -9.5% |
| Remuneration and social security | 454/9 | €25,667 | €30,288 | +€4,621 | +18.0% |
| Other amounts payable | 47/48 | €1,333,553 | €1,333,553 | = | 0.0% |
| Operating income | 70/76A | €1,212,295 | €1,402,934 | +€190,639 | +15.7% |
| Turnover | 70 | €1,107,720 | €1,390,330 | +€282,610 | +25.5% |
| Own construction capitalised | 72 | €96,117 | - | -€96,117 | |
| Other operating income | 74 | €8,459 | €12,605 | +€4,146 | +49.0% |
| Operating charges | 60/66A | €1,231,245 | €1,378,141 | +€146,896 | +11.9% |
| Goods for resale, raw materials and consumables | 60 | €622,984 | €757,008 | +€134,024 | +21.5% |
| Purchases | 600/8 | €622,984 | €757,008 | +€134,024 | +21.5% |
| Services and other goods | 61 | €147,097 | €145,191 | -€1,906 | -1.3% |
| Remuneration, social security and pensions | 62 | €325,712 | €291,455 | -€34,257 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,026 | €172,033 | +€37,006 | +27.4% |
| Other operating charges | 640/8 | €427 | €12,455 | +€12,029 | +2819.2% |
| Operating profit (loss) | 9901 | -€18,950 | €24,793 | +€43,743 | |
| Financial charges | 65/66B | €1,878 | €2,648 | +€770 | +41.0% |
| Recurring financial charges | 65 | €1,874 | €2,648 | +€774 | +41.3% |
| Other financial charges | 652/9 | €1,874 | €2,648 | +€774 | +41.3% |
| Non-recurring financial charges | 66B | €4 | - | -€4 | |
| Profit (loss) for the period before taxes | 9903 | -€20,827 | €22,145 | +€42,973 | |
| Income taxes | 67/77 | - | €372 | +€372 | |
| Taxes | 670/3 | - | €372 | +€372 | |
| Profit (loss) for the period | 9904 | -€20,827 | €21,774 | +€42,601 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,827 | €21,774 | +€42,601 |
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 6 October 2026 via checked.be.