Bruch Patrick: 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.
Bruch Patrick
Largest movements
- Tangible fixed assets +€94,556
up €94,556 (+28.1%), from €337,069 to €431,625
of which Plant, machinery and equipment: +€63,640
- Cash -€39,472
down €39,472 (-41.1%), from €96,031 to €56,559
mainly Investment in fixed assets (net) (-€182,656) and Contributions, distributions and other (-€79,000)
- Stocks and contracts -€31,132
down €31,132 (-20.1%), from €154,583 to €123,451
- Current investments -€19,848
down €19,848 (-12.4%), from €160,220 to €140,372
- Debts after one year -€51,178
down €51,178 (-38.2%), from €134,028 to €82,850
- Other debts +€44,566
up €44,566 (+123%), from €36,305 to €80,870
- Tax, wage and social debts -€16,009
down €16,009 (-29.3%), from €54,578 to €38,569
of which Taxes: -€18,965
- Reserves +€14,000
up €14,000 (+2.6%), from €543,360 to €557,360
- Current portion of long-term debt +€13,895
up €13,895 (+29.3%), from €47,375 to €61,269
- Gross operating margin -€88,594
down €88,594 (-28.2%), from €313,876 to €225,282
- Taxes -€36,640
down €36,640 (-54.4%), from €67,387 to €30,747
- Depreciation +€17,830
up €17,830 (+25.4%), from €70,270 to €88,100
- Other operating charges -€5,780
down €5,780 (-48.1%), from €12,016 to €6,236
- Write-downs +€5,387
no longer reported in 2025 (was -€5,387)
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 | €809,513 | €817,588 | +€8,075 | +1.0% |
| Fixed assets | 21/28 | €337,069 | €431,625 | +€94,556 | +28.1% |
| Tangible fixed assets | 22/27 | €337,069 | €431,625 | +€94,556 | +28.1% |
| Land and buildings | 22 | €177,248 | €211,109 | +€33,862 | +19.1% |
| Plant, machinery and equipment | 23 | €152,494 | €216,134 | +€63,640 | +41.7% |
| Furniture and vehicles | 24 | €7,327 | €4,382 | -€2,946 | -40.2% |
| Current assets | 29/58 | €472,444 | €385,963 | -€86,481 | -18.3% |
| Stocks and contracts in progress | 3 | €154,583 | €123,451 | -€31,132 | -20.1% |
| Stocks | 30/36 | €154,583 | €123,451 | -€31,132 | -20.1% |
| Amounts receivable within one year | 40/41 | €61,610 | €65,582 | +€3,972 | +6.4% |
| Trade receivables | 40 | €61,610 | €57,076 | -€4,534 | -7.4% |
| Other amounts receivable | 41 | - | €8,505 | +€8,505 | |
| Current investments | 50/53 | €160,220 | €140,372 | -€19,848 | -12.4% |
| Cash at bank and in hand | 54/58 | €96,031 | €56,559 | -€39,472 | -41.1% |
| Total equity and liabilities | 10/49 | €809,513 | €817,588 | +€8,075 | +1.0% |
| Equity | 10/15 | €531,625 | €545,839 | +€14,215 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €543,360 | €557,360 | +€14,000 | +2.6% |
| Distributable reserves | 133 | €543,360 | €557,360 | +€14,000 | +2.6% |
| Profit (loss) carried forward | 14 | -€30,335 | -€30,121 | +€215 | +0.7% |
| Amounts payable | 17/49 | €277,888 | €271,749 | -€6,140 | -2.2% |
| Amounts payable after more than one year | 17 | €134,028 | €82,850 | -€51,178 | -38.2% |
| Financial debts | 170/4 | €134,028 | €82,850 | -€51,178 | -38.2% |
| Amounts payable within one year | 42/48 | €139,860 | €184,799 | +€44,939 | +32.1% |
| Current portion of amounts payable after more than one year | 42 | €47,375 | €61,269 | +€13,895 | +29.3% |
| Trade debts | 44 | €1,603 | €4,091 | +€2,488 | +155% |
| Suppliers | 440/4 | €1,603 | €4,091 | +€2,488 | +155% |
| Taxes, remuneration and social security | 45 | €54,578 | €38,569 | -€16,009 | -29.3% |
| Taxes | 450/3 | €54,578 | €35,613 | -€18,965 | -34.7% |
| Remuneration and social security | 454/9 | - | €2,956 | +€2,956 | |
| Other amounts payable | 47/48 | €36,305 | €80,870 | +€44,566 | +123% |
| Accrued charges and deferred income | 492/3 | €4,000 | €4,100 | +€100 | +2.5% |
| Remuneration, social security and pensions | 62 | €6,838 | €3,231 | -€3,607 | -52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,270 | €88,100 | +€17,830 | +25.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,387 | - | +€5,387 | |
| Other operating charges | 640/8 | €12,016 | €6,236 | -€5,780 | -48.1% |
| Gross operating margin | 9900 | €313,876 | €225,282 | -€88,594 | -28.2% |
| Operating profit (loss) | 9901 | €230,139 | €127,715 | -€102,425 | -44.5% |
| Financial income | 75/76B | €9,522 | €4,454 | -€5,068 | -53.2% |
| Recurring financial income | 75 | €9,522 | €4,454 | -€5,068 | -53.2% |
| Financial charges | 65/66B | €7,161 | €8,206 | +€1,045 | +14.6% |
| Recurring financial charges | 65 | €7,161 | €8,206 | +€1,045 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €232,499 | €123,962 | -€108,538 | -46.7% |
| Income taxes | 67/77 | €67,387 | €30,747 | -€36,640 | -54.4% |
| Profit (loss) for the period | 9904 | €165,113 | €93,215 | -€71,898 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €165,113 | €93,215 | -€71,898 | -43.5% |
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 16 October 2026 via checked.be.