Bruhel: 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.
Bruhel
Largest movements
- Current investments -€108,094
down €108,094 (-100.0%), from €108,094 to €0
- Cash -€42,899
down €42,899 (-91.0%), from €47,144 to €4,245
mainly Other debts (-€99,711) and Contributions, distributions and other (-€58,824)
- Tangible fixed assets -€17,952
down €17,952 (-5.3%), from €336,019 to €318,067
of which Furniture and vehicles: -€9,304
- Other debts -€99,711
down €99,711 (-46.8%), from €213,209 to €113,498
- Debts after one year -€30,104
down €30,104 (-19.3%), from €155,907 to €125,803
- Tax, wage and social debts -€28,968
down €28,968 (-42.7%), from €67,886 to €38,918
- Current portion of long-term debt -€5,680
down €5,680 (-15.9%), from €35,784 to €30,104
- Gross operating margin -€269,658
down €269,658 (-72.6%), from €371,619 to €101,961
- Taxes -€70,161
down €70,161 (-78.8%), from €89,063 to €18,902
- Depreciation -€11,318
down €11,318 (-41.8%), from €27,104 to €15,787
- Financial income -€8,449
down €8,449 (-69.6%), from €12,135 to €3,686
- Financial charges -€3,876
down €3,876 (-27.9%), from €13,914 to €10,038
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 | €498,303 | €329,968 | -€168,335 | -33.8% |
| Fixed assets | 21/28 | €336,069 | €318,117 | -€17,952 | -5.3% |
| Tangible fixed assets | 22/27 | €336,019 | €318,067 | -€17,952 | -5.3% |
| Land and buildings | 22 | €314,534 | €305,519 | -€9,015 | -2.9% |
| Furniture and vehicles | 24 | €10,497 | €1,193 | -€9,304 | -88.6% |
| Other tangible fixed assets | 26 | €10,988 | €11,355 | +€368 | +3.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €162,235 | €11,851 | -€150,383 | -92.7% |
| Amounts receivable within one year | 40/41 | €3,435 | €5,188 | +€1,753 | +51.0% |
| Trade receivables | 40 | €135 | €1,888 | +€1,753 | +1295.1% |
| Other amounts receivable | 41 | €3,300 | €3,300 | = | 0.0% |
| Current investments | 50/53 | €108,094 | €0 | -€108,094 | -100.0% |
| Cash at bank and in hand | 54/58 | €47,144 | €4,245 | -€42,899 | -91.0% |
| Deferred charges and accrued income | 490/1 | €3,561 | €2,418 | -€1,143 | -32.1% |
| Total equity and liabilities | 10/49 | €498,303 | €329,968 | -€168,335 | -33.8% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €477,843 | €309,508 | -€168,335 | -35.2% |
| Amounts payable after more than one year | 17 | €155,907 | €125,803 | -€30,104 | -19.3% |
| Financial debts | 170/4 | €155,907 | €125,803 | -€30,104 | -19.3% |
| Amounts payable within one year | 42/48 | €321,937 | €183,705 | -€138,231 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €35,784 | €30,104 | -€5,680 | -15.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,058 | €1,186 | -€3,872 | -76.6% |
| Suppliers | 440/4 | €5,058 | €1,186 | -€3,872 | -76.6% |
| Taxes, remuneration and social security | 45 | €67,886 | €38,918 | -€28,968 | -42.7% |
| Taxes | 450/3 | €67,886 | €38,918 | -€28,968 | -42.7% |
| Other amounts payable | 47/48 | €213,209 | €113,498 | -€99,711 | -46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,104 | €15,787 | -€11,318 | -41.8% |
| Other operating charges | 640/8 | €4,855 | €2,096 | -€2,759 | -56.8% |
| Gross operating margin | 9900 | €371,619 | €101,961 | -€269,658 | -72.6% |
| Operating profit (loss) | 9901 | €339,660 | €84,079 | -€255,581 | -75.2% |
| Financial income | 75/76B | €12,135 | €3,686 | -€8,449 | -69.6% |
| Recurring financial income | 75 | €12,135 | €3,686 | -€8,449 | -69.6% |
| Financial charges | 65/66B | €13,914 | €10,038 | -€3,876 | -27.9% |
| Recurring financial charges | 65 | €13,914 | €10,038 | -€3,876 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €337,880 | €77,726 | -€260,154 | -77.0% |
| Income taxes | 67/77 | €89,063 | €18,902 | -€70,161 | -78.8% |
| Profit (loss) for the period | 9904 | €248,817 | €58,824 | -€189,992 | -76.4% |
| Profit (loss) for the period to be appropriated | 9905 | €248,817 | €58,824 | -€189,992 | -76.4% |
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 11 October 2026 via checked.be.