BRUEL: 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.
BRUEL
Largest movements
- Tangible fixed assets +€68,970
up €68,970 (+905%), from €7,617 to €76,587
of which Furniture and vehicles: +€72,920
- Cash -€9,326
down €9,326 (-29.7%), from €31,403 to €22,078
mainly Investment in fixed assets (net) (-€80,389) and Other debts (-€29,715)
- Deferred charges and accrued income +€3,914
up €3,914 (+191%), from €2,047 to €5,961
- Debts after one year +€53,674
up €53,674, from €0 to €53,674
- Other debts -€29,715
down €29,715 (-95.0%), from €31,284 to €1,569
- Reserves +€22,896
up €22,896 (+25.3%), from €90,553 to €113,449
of which Distributable reserves: +€14,911
- Current portion of long-term debt +€12,801
up €12,801 (+4,008%), from €319 to €13,120
- Gross operating margin -€82,410
down €82,410 (-64.2%), from €128,338 to €45,927
- Taxes -€21,638
down €21,638 (-78.8%), from €27,453 to €5,815
- Depreciation +€6,077
up €6,077 (+107%), from €5,656 to €11,733
- Financial income +€2,368
up €2,368 (+914%), from €259 to €2,627
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 | €150,989 | €212,909 | +€61,920 | +41.0% |
| Fixed assets | 21/28 | €8,090 | €76,746 | +€68,656 | +849% |
| Intangible fixed assets | 21 | €474 | €159 | -€314 | -66.4% |
| Tangible fixed assets | 22/27 | €7,617 | €76,587 | +€68,970 | +905% |
| Plant, machinery and equipment | 23 | €4,405 | €456 | -€3,950 | -89.7% |
| Furniture and vehicles | 24 | €3,212 | €76,132 | +€72,920 | +2,270% |
| Current assets | 29/58 | €142,899 | €136,162 | -€6,736 | -4.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €109,448 | €108,124 | -€1,325 | -1.2% |
| Trade receivables | 40 | €30,250 | €20,570 | -€9,680 | -32.0% |
| Other amounts receivable | 41 | €79,198 | €87,554 | +€8,355 | +10.6% |
| Cash at bank and in hand | 54/58 | €31,403 | €22,078 | -€9,326 | -29.7% |
| Deferred charges and accrued income | 490/1 | €2,047 | €5,961 | +€3,914 | +191% |
| Total equity and liabilities | 10/49 | €150,989 | €212,909 | +€61,920 | +41.0% |
| Equity | 10/15 | €109,153 | €132,049 | +€22,896 | +21.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €90,553 | €113,449 | +€22,896 | +25.3% |
| Tax-exempt reserves | 132 | - | €7,985 | +€7,985 | |
| Distributable reserves | 133 | €90,553 | €105,464 | +€14,911 | +16.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €1,996 | +€1,996 | |
| Deferred taxes | 168 | - | €1,996 | +€1,996 | |
| Amounts payable | 17/49 | €41,836 | €78,863 | +€37,027 | +88.5% |
| Amounts payable after more than one year | 17 | €0 | €53,674 | +€53,674 | |
| Financial debts | 170/4 | €0 | €53,674 | +€53,674 | |
| Amounts payable within one year | 42/48 | €39,637 | €23,751 | -€15,886 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €319 | €13,120 | +€12,801 | +4,008% |
| Trade debts | 44 | €163 | €836 | +€673 | +414% |
| Suppliers | 440/4 | €163 | €836 | +€673 | +414% |
| Taxes, remuneration and social security | 45 | €7,872 | €8,226 | +€355 | +4.5% |
| Taxes | 450/3 | €7,872 | €8,226 | +€355 | +4.5% |
| Other amounts payable | 47/48 | €31,284 | €1,569 | -€29,715 | -95.0% |
| Accrued charges and deferred income | 492/3 | €2,199 | €1,438 | -€760 | -34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,656 | €11,733 | +€6,077 | +107% |
| Other operating charges | 640/8 | €965 | €1,168 | +€203 | +21.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €128,338 | €45,927 | -€82,410 | -64.2% |
| Operating profit (loss) | 9901 | €121,717 | €33,026 | -€88,690 | -72.9% |
| Financial income | 75/76B | €259 | €2,627 | +€2,368 | +914% |
| Recurring financial income | 75 | €259 | €2,627 | +€2,368 | +914% |
| Financial charges | 65/66B | €3,110 | €4,112 | +€1,002 | +32.2% |
| Recurring financial charges | 65 | €3,110 | €4,112 | +€1,002 | +32.2% |
| Profit (loss) for the period before taxes | 9903 | €118,866 | €31,541 | -€87,325 | -73.5% |
| Transfer from deferred taxes | 780 | - | €153 | +€153 | |
| Transfer to deferred taxes | 680 | - | €2,149 | +€2,149 | |
| Income taxes | 67/77 | €27,453 | €5,815 | -€21,638 | -78.8% |
| Profit (loss) for the period | 9904 | €91,412 | €23,729 | -€67,683 | -74.0% |
| Transfer from tax-exempt reserves | 789 | - | €610 | +€610 | |
| Transfer to tax-exempt reserves | 689 | - | €8,595 | +€8,595 | |
| Profit (loss) for the period to be appropriated | 9905 | €91,412 | €15,744 | -€75,668 | -82.8% |
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.