BRULAM: 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.
BRULAM
Largest movements
- Tangible fixed assets +€637,893
up €637,893 (+25.9%), from €2.5m to €3.1m
- Current investments -€156,918
down €156,918 (-21.6%), from €728,000 to €571,081
- Cash -€70,128
down €70,128 (-5.8%), from €1.2m to €1.1m
mainly Investment in fixed assets (net) (-€718,884) and Tax, wage and social debts (-€28,246)
- Advances received +€244,700
new in 2025: €244,700
- Other debts +€91,901
up €91,901 (+5.3%), from €1.7m to €1.8m
- Trade debts +€68,214
up €68,214 (+2387.0%), from €2,858 to €71,071
- Other operating charges -€18,246
down €18,246 (-59.7%), from €30,554 to €12,308
- Financial charges -€11,157
down €11,157 (-9.6%), from €116,235 to €105,078
- Depreciation +€11,000
up €11,000 (+15.7%), from €69,991 to €80,991
- Financial income -€7,080
down €7,080 (-17.0%), from €41,689 to €34,610
- Gross operating margin +€3,137
up €3,137 (+1.6%), from €199,169 to €202,306
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 | €4,459,281 | €4,874,575 | +€415,294 | +9.3% |
| Fixed assets | 21/28 | €2,468,340 | €3,106,233 | +€637,893 | +25.8% |
| Tangible fixed assets | 22/27 | €2,466,528 | €3,104,421 | +€637,893 | +25.9% |
| Land and buildings | 22 | €2,466,528 | €3,104,421 | +€637,893 | +25.9% |
| Financial fixed assets | 28 | €1,812 | €1,812 | = | 0.0% |
| Current assets | 29/58 | €1,990,940 | €1,768,342 | -€222,599 | -11.2% |
| Amounts receivable within one year | 40/41 | €49,058 | €42,677 | -€6,380 | -13.0% |
| Trade receivables | 40 | €26,443 | €26,798 | +€355 | +1.3% |
| Other amounts receivable | 41 | €22,615 | €15,879 | -€6,735 | -29.8% |
| Current investments | 50/53 | €728,000 | €571,081 | -€156,918 | -21.6% |
| Cash at bank and in hand | 54/58 | €1,213,883 | €1,143,755 | -€70,128 | -5.8% |
| Deferred charges and accrued income | 490/1 | €0 | €10,828 | +€10,828 | |
| Total equity and liabilities | 10/49 | €4,459,281 | €4,874,575 | +€415,294 | +9.3% |
| Equity | 10/15 | €2,529,291 | €2,560,642 | +€31,351 | +1.2% |
| Contributions | 10/11 | €272,931 | €272,931 | = | 0.0% |
| Reserves | 13 | €2,256,360 | €2,287,711 | +€31,351 | +1.4% |
| Non-distributable reserves | 130/1 | €1,818 | €1,818 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,818 | €1,818 | = | 0.0% |
| Tax-exempt reserves | 132 | €539,576 | €510,750 | -€28,826 | -5.3% |
| Distributable reserves | 133 | €1,714,966 | €1,775,143 | +€60,176 | +3.5% |
| Provisions and deferred taxes | 16 | €94,523 | €86,667 | -€7,856 | -8.3% |
| Deferred taxes | 168 | €94,523 | €86,667 | -€7,856 | -8.3% |
| Amounts payable | 17/49 | €1,835,467 | €2,227,267 | +€391,800 | +21.3% |
| Amounts payable within one year | 42/48 | €1,757,561 | €2,134,130 | +€376,569 | +21.4% |
| Trade debts | 44 | €2,858 | €71,071 | +€68,214 | +2387.0% |
| Suppliers | 440/4 | €2,858 | €71,071 | +€68,214 | +2387.0% |
| Advances received on contracts in progress | 46 | - | €244,700 | +€244,700 | |
| Taxes, remuneration and social security | 45 | €35,639 | €7,393 | -€28,246 | -79.3% |
| Taxes | 450/3 | €35,639 | €4,394 | -€31,244 | -87.7% |
| Remuneration and social security | 454/9 | - | €2,999 | +€2,999 | |
| Other amounts payable | 47/48 | €1,719,065 | €1,810,966 | +€91,901 | +5.3% |
| Accrued charges and deferred income | 492/3 | €77,905 | €93,137 | +€15,231 | +19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,991 | €80,991 | +€11,000 | +15.7% |
| Other operating charges | 640/8 | €30,554 | €12,308 | -€18,246 | -59.7% |
| Gross operating margin | 9900 | €199,169 | €202,306 | +€3,137 | +1.6% |
| Operating profit (loss) | 9901 | €98,624 | €109,007 | +€10,383 | +10.5% |
| Financial income | 75/76B | €41,689 | €34,610 | -€7,080 | -17.0% |
| Recurring financial income | 75 | €41,689 | €34,610 | -€7,080 | -17.0% |
| Financial charges | 65/66B | €116,235 | €105,078 | -€11,157 | -9.6% |
| Recurring financial charges | 65 | €116,235 | €105,078 | -€11,157 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €24,079 | €38,539 | +€14,460 | +60.1% |
| Transfer from deferred taxes | 780 | €7,856 | €7,856 | = | 0.0% |
| Income taxes | 67/77 | €12,152 | €15,044 | +€2,892 | +23.8% |
| Profit (loss) for the period | 9904 | €19,783 | €31,351 | +€11,568 | +58.5% |
| Transfer from tax-exempt reserves | 789 | €28,826 | €28,826 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,609 | €60,176 | +€11,568 | +23.8% |
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 9 October 2026 via checked.be.