BRUGGEMAN: 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.
What changed
BRUGGEMAN
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€15,560
2024 · -€8,735-€6,825
Equity
€597,008
2024 · €612,568-€15,560
Cash
€2,699
2024 · €428+€2,271
Balance sheet total
€1.1m
2024 · €1.2m-€38,171
Largest movements
Assets
- Tangible fixed assets -€43,266
down €43,266 (-3.7%), from €1.2m to €1.1m
Equity and liabilities
- Debts after one year -€26,057
down €26,057 (-39.6%), from €65,817 to €39,760
- Reserves -€15,560
down €15,560 (-2.7%), from €582,568 to €567,008
of which Tax-exempt reserves: -€26,986
- Short-term financial debts +€13,194
up €13,194 (+161.6%), from €8,167 to €21,361
Income statement
- Gross operating margin -€10,136
down €10,136 (-24.2%), from €41,857 to €31,722
- Taxes -€3,235
down €3,235 (-37.4%), from €8,642 to €5,408
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.
Result 2024
-€8,735
Gross operating margin
-€10,136
Depreciation
+€0
Other operating charges
-€302
Financial income
+€16
Financial charges
+€362
Taxes
+€3,235
Result 2025
-€15,560
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.
From operations
+€14,780
Investment
€0
Financing
-€12,509
Cash 2024
€428
From operations (derived)
+€14,780
Net result for the year
-€15,560
Depreciation
+€43,266
Receivables within one year
-€92
Deferred charges and accrued income
-€2,732
Provisions
-€9,174
Trade debts
+€1,197
Tax, wage and social debts
-€2,731
Other debts
-€729
Accrued charges and deferred income
+€1,334
Financing
-€12,509
Debts after one year
-€26,057
Current portion of long-term debt
+€354
Short-term financial debts
+€13,194
Cash 2025
€2,699
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,160,013 | €1,121,842 | -€38,171 | -3.3% |
| Fixed assets | 21/28 | €1,159,585 | €1,116,319 | -€43,266 | -3.7% |
| Tangible fixed assets | 22/27 | €1,159,585 | €1,116,319 | -€43,266 | -3.7% |
| Land and buildings | 22 | €1,159,585 | €1,116,319 | -€43,266 | -3.7% |
| Current assets | 29/58 | €428 | €5,524 | +€5,095 | +1189.3% |
| Amounts receivable within one year | 40/41 | - | €92 | +€92 | |
| Other amounts receivable | 41 | - | €92 | +€92 | |
| Cash at bank and in hand | 54/58 | €428 | €2,699 | +€2,271 | +530.1% |
| Deferred charges and accrued income | 490/1 | €0 | €2,732 | +€2,732 | |
| Total equity and liabilities | 10/49 | €1,160,013 | €1,121,842 | -€38,171 | -3.3% |
| Equity | 10/15 | €612,568 | €597,008 | -€15,560 | -2.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €582,568 | €567,008 | -€15,560 | -2.7% |
| Tax-exempt reserves | 132 | €536,247 | €509,261 | -€26,986 | -5.0% |
| Distributable reserves | 133 | €46,320 | €57,746 | +€11,426 | +24.7% |
| Provisions and deferred taxes | 16 | €165,127 | €155,953 | -€9,174 | -5.6% |
| Deferred taxes | 168 | €165,127 | €155,953 | -€9,174 | -5.6% |
| Amounts payable | 17/49 | €382,319 | €368,882 | -€13,437 | -3.5% |
| Amounts payable after more than one year | 17 | €65,817 | €39,760 | -€26,057 | -39.6% |
| Financial debts | 170/4 | €65,817 | €39,760 | -€26,057 | -39.6% |
| Amounts payable within one year | 42/48 | €315,311 | €326,597 | +€11,286 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €25,703 | €26,057 | +€354 | +1.4% |
| Financial debts | 43 | €8,167 | €21,361 | +€13,194 | +161.6% |
| Credit institutions | 430/8 | €8,167 | €21,361 | +€13,194 | +161.6% |
| Trade debts | 44 | €653 | €1,850 | +€1,197 | +183.2% |
| Suppliers | 440/4 | €653 | €1,850 | +€1,197 | +183.2% |
| Taxes, remuneration and social security | 45 | €6,373 | €3,642 | -€2,731 | -42.8% |
| Taxes | 450/3 | €6,373 | €3,642 | -€2,731 | -42.8% |
| Other amounts payable | 47/48 | €274,415 | €273,686 | -€729 | -0.3% |
| Accrued charges and deferred income | 492/3 | €1,191 | €2,525 | +€1,334 | +112.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,266 | €43,266 | -€0 | 0.0% |
| Other operating charges | 640/8 | €4,694 | €4,996 | +€302 | +6.4% |
| Gross operating margin | 9900 | €41,857 | €31,722 | -€10,136 | -24.2% |
| Operating profit (loss) | 9901 | -€6,103 | -€16,541 | -€10,438 | -171.0% |
| Financial income | 75/76B | - | €16 | +€16 | |
| Recurring financial income | 75 | - | €16 | +€16 | |
| Financial charges | 65/66B | €3,163 | €2,801 | -€362 | -11.4% |
| Recurring financial charges | 65 | €3,163 | €2,801 | -€362 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,266 | -€19,326 | -€10,060 | -108.6% |
| Transfer from deferred taxes | 780 | €9,174 | €9,174 | = | 0.0% |
| Income taxes | 67/77 | €8,642 | €5,408 | -€3,235 | -37.4% |
| Profit (loss) for the period | 9904 | -€8,735 | -€15,560 | -€6,825 | -78.1% |
| Transfer from tax-exempt reserves | 789 | €26,986 | €26,986 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,251 | €11,426 | -€6,825 | -37.4% |
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 6 October 2026 via checked.be.