Bruart: 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.
Bruart
Largest movements
- Cash +€254,468
up €254,468 (+486%), from €52,391 to €306,859
mainly Net result for the year (+€172,031) and Other debts (+€97,333)
- Current investments -€36,002
down €36,002 (-60.0%), from €60,000 to €23,998
- Receivables within one year +€16,895
up €16,895 (+527%), from €3,204 to €20,099
of which Trade receivables: +€16,962
- Tangible fixed assets -€14,093
down €14,093 (-17.9%), from €78,739 to €64,646
- Other debts +€97,333
up €97,333 (+1,088%), from €8,948 to €106,281
- Reserves +€92,031
up €92,031 (+119%), from €77,111 to €169,142
of which Tax-exempt reserves: +€63,150
- Tax, wage and social debts +€29,831
up €29,831 (+85.1%), from €35,061 to €64,891
of which Taxes: +€29,831
- Advances received +€24,320
new in 2025: €24,320
- Debts after one year -€20,516
down €20,516 (-41.7%), from €49,236 to €28,720
- Gross operating margin +€124,182
up €124,182 (+104%), from €119,087 to €243,269
- Taxes +€30,319
up €30,319 (+151%), from €20,100 to €50,419
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 | €194,400 | €417,883 | +€223,483 | +115% |
| Fixed assets | 21/28 | €78,739 | €64,646 | -€14,093 | -17.9% |
| Tangible fixed assets | 22/27 | €78,739 | €64,646 | -€14,093 | -17.9% |
| Furniture and vehicles | 24 | €78,739 | €64,646 | -€14,093 | -17.9% |
| Current assets | 29/58 | €115,661 | €353,237 | +€237,576 | +205% |
| Amounts receivable within one year | 40/41 | €3,204 | €20,099 | +€16,895 | +527% |
| Trade receivables | 40 | €3,137 | €20,099 | +€16,962 | +541% |
| Other amounts receivable | 41 | €67 | - | -€67 | |
| Current investments | 50/53 | €60,000 | €23,998 | -€36,002 | -60.0% |
| Cash at bank and in hand | 54/58 | €52,391 | €306,859 | +€254,468 | +486% |
| Deferred charges and accrued income | 490/1 | €66 | €2,281 | +€2,215 | +3,355% |
| Total equity and liabilities | 10/49 | €194,400 | €417,883 | +€223,483 | +115% |
| Equity | 10/15 | €77,211 | €169,242 | +€92,031 | +119% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €77,111 | €169,142 | +€92,031 | +119% |
| Tax-exempt reserves | 132 | - | €63,150 | +€63,150 | |
| Distributable reserves | 133 | €77,111 | €105,992 | +€28,881 | +37.5% |
| Amounts payable | 17/49 | €117,189 | €248,641 | +€131,452 | +112% |
| Amounts payable after more than one year | 17 | €49,236 | €28,720 | -€20,516 | -41.7% |
| Financial debts | 170/4 | €49,236 | €28,720 | -€20,516 | -41.7% |
| Amounts payable within one year | 42/48 | €67,953 | €219,921 | +€151,968 | +224% |
| Current portion of amounts payable after more than one year | 42 | €19,678 | €20,516 | +€838 | +4.3% |
| Trade debts | 44 | €4,266 | €3,913 | -€353 | -8.3% |
| Suppliers | 440/4 | €4,266 | €3,913 | -€353 | -8.3% |
| Advances received on contracts in progress | 46 | - | €24,320 | +€24,320 | |
| Taxes, remuneration and social security | 45 | €35,061 | €64,891 | +€29,831 | +85.1% |
| Taxes | 450/3 | €33,061 | €62,891 | +€29,831 | +90.2% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €8,948 | €106,281 | +€97,333 | +1,088% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,475 | €19,682 | +€1,207 | +6.5% |
| Other operating charges | 640/8 | - | €4 | +€4 | |
| Gross operating margin | 9900 | €119,087 | €243,269 | +€124,182 | +104% |
| Operating profit (loss) | 9901 | €100,612 | €223,583 | +€122,971 | +122% |
| Financial income | 75/76B | - | €1,616 | +€1,616 | |
| Recurring financial income | 75 | - | €1,616 | +€1,616 | |
| Financial charges | 65/66B | €2,437 | €2,750 | +€312 | +12.8% |
| Recurring financial charges | 65 | €2,437 | €2,750 | +€312 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €98,175 | €222,450 | +€124,275 | +127% |
| Income taxes | 67/77 | €20,100 | €50,419 | +€30,319 | +151% |
| Profit (loss) for the period | 9904 | €78,075 | €172,031 | +€93,956 | +120% |
| Transfer to tax-exempt reserves | 689 | - | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,075 | €108,881 | +€30,806 | +39.5% |
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 19 October 2026 via checked.be.