BRUCE CYCLING: 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.
BRUCE CYCLING
Largest movements
- Cash +€82,032
up €82,032 (+64.5%), from €127,227 to €209,259
mainly Trade debts (+€39,545) and Stocks and contracts (+€36,657)
- Stocks and contracts -€36,657
down €36,657 (-12.8%), from €285,880 to €249,223
- Tangible fixed assets -€20,659
down €20,659 (-5.9%), from €350,410 to €329,751
of which Land and buildings: -€21,399
- Receivables within one year -€12,963
down €12,963 (-23.4%), from €55,441 to €42,478
of which Trade receivables: -€29,137
- Other debts -€55,313
down €55,313 (-93.7%), from €59,031 to €3,718
- Trade debts +€39,545
up €39,545 (+150%), from €26,302 to €65,847
- Debts after one year -€36,596
down €36,596 (-12.6%), from €289,567 to €252,971
- Reserves +€35,823
up €35,823 (+20.1%), from €178,203 to €214,026
of which Distributable reserves: +€35,823
- Tax, wage and social debts +€21,844
up €21,844 (+45.0%), from €48,515 to €70,359
of which Taxes: +€16,805
- Gross operating margin +€44,449
up €44,449 (+36.0%), from €123,372 to €167,822
- Staff costs +€33,745
up €33,745 (+261%), from €12,942 to €46,688
- Financial charges +€7,572
up €7,572 (+25.1%), from €30,205 to €37,778
- Taxes +€3,003
up €3,003 (+26.8%), from €11,204 to €14,207
- Depreciation -€2,723
down €2,723 (-6.9%), from €39,364 to €36,641
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 | €819,375 | €831,259 | +€11,884 | +1.5% |
| Fixed assets | 21/28 | €350,410 | €329,751 | -€20,659 | -5.9% |
| Tangible fixed assets | 22/27 | €350,410 | €329,751 | -€20,659 | -5.9% |
| Land and buildings | 22 | €265,387 | €243,988 | -€21,399 | -8.1% |
| Plant, machinery and equipment | 23 | €12,771 | €12,282 | -€489 | -3.8% |
| Furniture and vehicles | 24 | €72,251 | €73,481 | +€1,229 | +1.7% |
| Current assets | 29/58 | €468,965 | €501,508 | +€32,543 | +6.9% |
| Stocks and contracts in progress | 3 | €285,880 | €249,223 | -€36,657 | -12.8% |
| Stocks | 30/36 | €285,880 | €249,223 | -€36,657 | -12.8% |
| Amounts receivable within one year | 40/41 | €55,441 | €42,478 | -€12,963 | -23.4% |
| Trade receivables | 40 | €55,441 | €26,305 | -€29,137 | -52.6% |
| Other amounts receivable | 41 | €0 | €16,174 | +€16,174 | |
| Cash at bank and in hand | 54/58 | €127,227 | €209,259 | +€82,032 | +64.5% |
| Deferred charges and accrued income | 490/1 | €417 | €549 | +€131 | +31.5% |
| Total equity and liabilities | 10/49 | €819,375 | €831,259 | +€11,884 | +1.5% |
| Equity | 10/15 | €196,803 | €232,626 | +€35,823 | +18.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €178,203 | €214,026 | +€35,823 | +20.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €178,203 | €214,026 | +€35,823 | +20.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €622,572 | €598,633 | -€23,939 | -3.8% |
| Amounts payable after more than one year | 17 | €289,567 | €252,971 | -€36,596 | -12.6% |
| Financial debts | 170/4 | €289,567 | €252,971 | -€36,596 | -12.6% |
| Amounts payable within one year | 42/48 | €330,207 | €345,662 | +€15,455 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €46,359 | €55,739 | +€9,380 | +20.2% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €26,302 | €65,847 | +€39,545 | +150% |
| Suppliers | 440/4 | €26,302 | €65,847 | +€39,545 | +150% |
| Taxes, remuneration and social security | 45 | €48,515 | €70,359 | +€21,844 | +45.0% |
| Taxes | 450/3 | €47,381 | €64,186 | +€16,805 | +35.5% |
| Remuneration and social security | 454/9 | €1,134 | €6,173 | +€5,039 | +444% |
| Other amounts payable | 47/48 | €59,031 | €3,718 | -€55,313 | -93.7% |
| Accrued charges and deferred income | 492/3 | €2,798 | €0 | -€2,798 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €12,942 | €46,688 | +€33,745 | +261% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,364 | €36,641 | -€2,723 | -6.9% |
| Other operating charges | 640/8 | €3,795 | €3,806 | +€11 | +0.3% |
| Non-recurring operating charges | 66A | €1,869 | €0 | -€1,869 | -100% |
| Gross operating margin | 9900 | €123,372 | €167,822 | +€44,449 | +36.0% |
| Operating profit (loss) | 9901 | €65,402 | €80,687 | +€15,285 | +23.4% |
| Financial income | 75/76B | €7,476 | €7,121 | -€355 | -4.7% |
| Recurring financial income | 75 | €7,476 | €7,121 | -€355 | -4.7% |
| Financial charges | 65/66B | €30,205 | €37,778 | +€7,572 | +25.1% |
| Recurring financial charges | 65 | €30,205 | €37,778 | +€7,572 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €42,672 | €50,030 | +€7,358 | +17.2% |
| Income taxes | 67/77 | €11,204 | €14,207 | +€3,003 | +26.8% |
| Profit (loss) for the period | 9904 | €31,468 | €35,823 | +€4,355 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,468 | €35,823 | +€4,355 | +13.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.