BRUGPAP: 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.
BRUGPAP
Largest movements
- Tangible fixed assets -€854,358
down €854,358 (-3.8%), from €22.5m to €21.7m
of which Land and buildings: -€845,690
- Receivables within one year +€487,895
up €487,895 (+10.1%), from €4.8m to €5.3m
- Debts after one year -€1.0m
down €1.0m (-9.0%), from €11.4m to €10.4m
- Short-term financial debts +€356,232
new in 2025: €356,232
- Revaluation surpluses -€334,244
down €334,244 (-2.8%), from €11.8m to €11.5m
- Reserves +€334,244
up €334,244 (+287%), from €116,500 to €450,744
of which Distributable reserves: +€334,244
- Profit (loss) carried forward +€292,042
up €292,042 (+47.2%), from €618,527 to €910,569
- Depreciation +€334,906
up €334,906 (+64.5%), from €519,452 to €854,358
- Financial charges -€237,502
down €237,502 (-34.7%), from €684,588 to €447,085
- Turnover +€44,064
up €44,064 (+3.1%), from €1.4m to €1.5m
- Gross operating margin +€43,340
up €43,340 (+3.0%), from €1.4m to €1.5m
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,336,326 | €26,969,862 | -€366,464 | -1.3% |
| Fixed assets | 21/28 | €22,510,728 | €21,656,369 | -€854,358 | -3.8% |
| Tangible fixed assets | 22/27 | €22,510,728 | €21,656,369 | -€854,358 | -3.8% |
| Land and buildings | 22 | €22,405,992 | €21,560,302 | -€845,690 | -3.8% |
| Plant, machinery and equipment | 23 | €93,158 | €88,055 | -€5,103 | -5.5% |
| Furniture and vehicles | 24 | €11,578 | €8,012 | -€3,565 | -30.8% |
| Current assets | 29/58 | €4,825,598 | €5,313,493 | +€487,895 | +10.1% |
| Amounts receivable within one year | 40/41 | €4,825,598 | €5,313,493 | +€487,895 | +10.1% |
| Other amounts receivable | 41 | €4,825,598 | €5,313,493 | +€487,895 | +10.1% |
| Total equity and liabilities | 10/49 | €27,336,326 | €26,969,862 | -€366,464 | -1.3% |
| Equity | 10/15 | €14,548,687 | €14,840,729 | +€292,042 | +2.0% |
| Contributions | 10/11 | €2,005,000 | €2,005,000 | = | 0.0% |
| Revaluation surpluses | 12 | €11,808,660 | €11,474,416 | -€334,244 | -2.8% |
| Reserves | 13 | €116,500 | €450,744 | +€334,244 | +287% |
| Non-distributable reserves | 130/1 | €116,500 | €116,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €116,500 | €116,500 | = | 0.0% |
| Distributable reserves | 133 | - | €334,244 | +€334,244 | |
| Profit (loss) carried forward | 14 | €618,527 | €910,569 | +€292,042 | +47.2% |
| Amounts payable | 17/49 | €12,787,639 | €12,129,133 | -€658,506 | -5.1% |
| Amounts payable after more than one year | 17 | €11,390,000 | €10,370,000 | -€1.0m | -9.0% |
| Financial debts | 170/4 | €11,390,000 | €10,370,000 | -€1.0m | -9.0% |
| Amounts payable within one year | 42/48 | €1,397,400 | €1,758,768 | +€361,368 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €1,020,000 | €1,020,000 | = | 0.0% |
| Financial debts | 43 | - | €356,232 | +€356,232 | |
| Credit institutions | 430/8 | - | €356,232 | +€356,232 | |
| Trade debts | 44 | €1,124 | - | -€1,124 | |
| Suppliers | 440/4 | €1,124 | - | -€1,124 | |
| Taxes, remuneration and social security | 45 | €376,276 | €382,536 | +€6,260 | +1.7% |
| Taxes | 450/3 | €376,276 | €382,536 | +€6,260 | +1.7% |
| Accrued charges and deferred income | 492/3 | €239 | €365 | +€126 | +52.7% |
| Turnover | 70 | €1,435,616 | €1,479,680 | +€44,064 | +3.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,918 | €3,673 | +€755 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €519,452 | €854,358 | +€334,906 | +64.5% |
| Other operating charges | 640/8 | €3,507 | €3,534 | +€27 | +0.8% |
| Gross operating margin | 9900 | €1,435,050 | €1,478,390 | +€43,340 | +3.0% |
| Operating profit (loss) | 9901 | €912,090 | €620,498 | -€291,593 | -32.0% |
| Financial income | 75/76B | €503,263 | €501,166 | -€2,097 | -0.4% |
| Recurring financial income | 75 | €503,263 | €501,166 | -€2,097 | -0.4% |
| Financial charges | 65/66B | €684,588 | €447,085 | -€237,502 | -34.7% |
| Recurring financial charges | 65 | €684,588 | €447,085 | -€237,502 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €730,766 | €674,578 | -€56,188 | -7.7% |
| Income taxes | 67/77 | €376,276 | €382,536 | +€6,260 | +1.7% |
| Profit (loss) for the period | 9904 | €354,489 | €292,042 | -€62,447 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €354,489 | €292,042 | -€62,447 | -17.6% |
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 20 October 2026 via checked.be.