BRULO: 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.
BRULO
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves -€25,365
down €25,365 (-4.0%), from €642,124 to €616,759
of which Tax-exempt reserves: -€39,610
- Other debts +€16,560
up €16,560 (+6.6%), from €250,738 to €267,298
- Accrued charges and deferred income +€12,777
up €12,777 (+121%), from €10,594 to €23,371
- Provisions -€12,605
down €12,605 (-100%), from €12,605 to €0
- Gross operating margin -€218,548
down €218,548 (-95.9%), from €227,863 to €9,315
- Taxes -€57,811
down €57,811 (-89.0%), from €64,939 to €7,128
- Financial charges +€4,895
up €4,895 (+19.4%), from €25,175 to €30,070
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
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 | €1,185,282 | €1,183,126 | -€2,156 | -0.2% |
| Fixed assets | 21/28 | €1,184,659 | €1,182,800 | -€1,859 | -0.2% |
| Tangible fixed assets | 22/27 | €1,184,659 | €1,182,800 | -€1,859 | -0.2% |
| Land and buildings | 22 | €78,394 | €78,255 | -€139 | -0.2% |
| Plant, machinery and equipment | 23 | €4,114 | €2,394 | -€1,720 | -41.8% |
| Furniture and vehicles | 24 | €3,718 | €3,718 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,098,433 | €1,098,433 | = | 0.0% |
| Current assets | 29/58 | €623 | €326 | -€297 | -47.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €623 | €326 | -€297 | -47.7% |
| Total equity and liabilities | 10/49 | €1,185,282 | €1,183,126 | -€2,156 | -0.2% |
| Equity | 10/15 | €732,124 | €706,759 | -€25,365 | -3.5% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Capital | 10 | €90,000 | €90,000 | = | 0.0% |
| Issued capital | 100 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €642,124 | €616,759 | -€25,365 | -4.0% |
| Non-distributable reserves | 130/1 | €9,000 | €9,000 | = | 0.0% |
| Legal reserve | 130 | €9,000 | €9,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,610 | €0 | -€39,610 | -100% |
| Distributable reserves | 133 | €593,514 | €607,759 | +€14,245 | +2.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €12,605 | €0 | -€12,605 | -100% |
| Deferred taxes | 168 | €12,605 | €0 | -€12,605 | -100% |
| Amounts payable | 17/49 | €440,553 | €476,367 | +€35,814 | +8.1% |
| Amounts payable after more than one year | 17 | €168,155 | €168,155 | = | 0.0% |
| Financial debts | 170/4 | €168,155 | €168,155 | = | 0.0% |
| Amounts payable within one year | 42/48 | €261,804 | €284,841 | +€23,037 | +8.8% |
| Trade debts | 44 | €2,120 | €0 | -€2,120 | -100% |
| Suppliers | 440/4 | €2,120 | €0 | -€2,120 | -100% |
| Taxes, remuneration and social security | 45 | €8,946 | €17,544 | +€8,597 | +96.1% |
| Taxes | 450/3 | €8,946 | €17,544 | +€8,597 | +96.1% |
| Other amounts payable | 47/48 | €250,738 | €267,298 | +€16,560 | +6.6% |
| Accrued charges and deferred income | 492/3 | €10,594 | €23,371 | +€12,777 | +121% |
| Non-recurring operating income | 76A | €227,706 | - | -€227,706 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,413 | €7,936 | +€522 | +7.0% |
| Other operating charges | 640/8 | €2,415 | €2,151 | -€263 | -10.9% |
| Gross operating margin | 9900 | €227,863 | €9,315 | -€218,548 | -95.9% |
| Operating profit (loss) | 9901 | €218,035 | -€772 | -€218,807 | |
| Financial charges | 65/66B | €25,175 | €30,070 | +€4,895 | +19.4% |
| Recurring financial charges | 65 | €25,175 | €30,070 | +€4,895 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €192,860 | -€30,842 | -€223,702 | |
| Transfer from deferred taxes | 780 | €2,117 | €12,605 | +€10,489 | +496% |
| Income taxes | 67/77 | €64,939 | €7,128 | -€57,811 | -89.0% |
| Profit (loss) for the period | 9904 | €130,037 | -€25,365 | -€155,402 | |
| Transfer from tax-exempt reserves | 789 | €6,350 | €39,610 | +€33,260 | +524% |
| Profit (loss) for the period to be appropriated | 9905 | €136,387 | €14,245 | -€122,142 | -89.6% |
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 13 October 2026 via checked.be.