BRUG 7: 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.
BRUG 7
Largest movements
- Receivables after one year +€487,617
up €487,617 (+86.9%), from €561,050 to €1.0m
- Cash +€159,045
up €159,045 (+216.1%), from €73,609 to €232,654
mainly Short-term financial debts (+€415,350) and Net result for the year (+€360,889)
- Deferred charges and accrued income +€46,690
up €46,690 (+411.7%), from €11,341 to €58,031
- Tangible fixed assets +€42,934
up €42,934 (+13.0%), from €331,127 to €374,061
of which Other tangible fixed assets: +€75,020
- Short-term financial debts +€415,350
new in 2025: €415,350
- Reserves +€360,889
up €360,889 (+64.3%), from €561,485 to €922,374
- Other debts -€45,199
down €45,199 (-47.7%), from €94,849 to €49,650
- Debts after one year -€44,880
down €44,880 (-18.5%), from €242,473 to €197,593
- Trade debts +€44,255
up €44,255 (+252.2%), from €17,549 to €61,804
- Gross operating margin +€72,327
up €72,327 (+16.6%), from €435,048 to €507,375
- Financial income +€55,631
up €55,631 (+434.5%), from €12,802 to €68,434
- Taxes +€45,306
up €45,306 (+46.2%), from €98,040 to €143,345
- Depreciation -€9,046
down €9,046 (-16.3%), from €55,551 to €46,505
- Other operating charges +€5,783
up €5,783 (+229.8%), from €2,517 to €8,299
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,011,224 | €1,742,917 | +€731,693 | +72.4% |
| Fixed assets | 21/28 | €331,127 | €374,261 | +€43,134 | +13.0% |
| Tangible fixed assets | 22/27 | €331,127 | €374,061 | +€42,934 | +13.0% |
| Plant, machinery and equipment | 23 | €48,278 | €35,159 | -€13,119 | -27.2% |
| Furniture and vehicles | 24 | €40,139 | €21,172 | -€18,967 | -47.3% |
| Other tangible fixed assets | 26 | €242,710 | €317,730 | +€75,020 | +30.9% |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €680,096 | €1,368,655 | +€688,559 | +101.2% |
| Amounts receivable after more than one year | 29 | €561,050 | €1,048,667 | +€487,617 | +86.9% |
| Other amounts receivable | 291 | €561,050 | €1,048,667 | +€487,617 | +86.9% |
| Amounts receivable within one year | 40/41 | €34,096 | €29,303 | -€4,792 | -14.1% |
| Trade receivables | 40 | €32,135 | €27,343 | -€4,792 | -14.9% |
| Other amounts receivable | 41 | €1,960 | €1,960 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €73,609 | €232,654 | +€159,045 | +216.1% |
| Deferred charges and accrued income | 490/1 | €11,341 | €58,031 | +€46,690 | +411.7% |
| Total equity and liabilities | 10/49 | €1,011,224 | €1,742,917 | +€731,693 | +72.4% |
| Equity | 10/15 | €576,485 | €937,374 | +€360,889 | +62.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €561,485 | €922,374 | +€360,889 | +64.3% |
| Distributable reserves | 133 | €561,485 | €922,374 | +€360,889 | +64.3% |
| Amounts payable | 17/49 | €434,738 | €805,542 | +€370,804 | +85.3% |
| Amounts payable after more than one year | 17 | €242,473 | €197,593 | -€44,880 | -18.5% |
| Financial debts | 170/4 | €242,473 | €197,593 | -€44,880 | -18.5% |
| Amounts payable within one year | 42/48 | €187,214 | €578,851 | +€391,637 | +209.2% |
| Current portion of amounts payable after more than one year | 42 | €28,127 | €27,780 | -€347 | -1.2% |
| Financial debts | 43 | - | €415,350 | +€415,350 | |
| Credit institutions | 430/8 | - | €415,350 | +€415,350 | |
| Trade debts | 44 | €17,549 | €61,804 | +€44,255 | +252.2% |
| Suppliers | 440/4 | €17,549 | €61,804 | +€44,255 | +252.2% |
| Taxes, remuneration and social security | 45 | €46,690 | €24,269 | -€22,421 | -48.0% |
| Taxes | 450/3 | €46,690 | €24,269 | -€22,421 | -48.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €94,849 | €49,650 | -€45,199 | -47.7% |
| Accrued charges and deferred income | 492/3 | €5,051 | €29,097 | +€24,047 | +476.1% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,551 | €46,505 | -€9,046 | -16.3% |
| Other operating charges | 640/8 | €2,517 | €8,299 | +€5,783 | +229.8% |
| Gross operating margin | 9900 | €435,048 | €507,375 | +€72,327 | +16.6% |
| Operating profit (loss) | 9901 | €376,980 | €452,570 | +€75,591 | +20.1% |
| Financial income | 75/76B | €12,802 | €68,434 | +€55,631 | +434.5% |
| Recurring financial income | 75 | €12,802 | €68,434 | +€55,631 | +434.5% |
| Financial charges | 65/66B | €11,617 | €16,770 | +€5,153 | +44.4% |
| Recurring financial charges | 65 | €11,617 | €16,770 | +€5,153 | +44.4% |
| Profit (loss) for the period before taxes | 9903 | €378,165 | €504,234 | +€126,069 | +33.3% |
| Income taxes | 67/77 | €98,040 | €143,345 | +€45,306 | +46.2% |
| Profit (loss) for the period | 9904 | €280,125 | €360,889 | +€80,763 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €280,125 | €360,889 | +€80,763 | +28.8% |
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 8 October 2026 via checked.be.