BRUNA MANAGEMENT: 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.
BRUNA MANAGEMENT
Largest movements
- Tangible fixed assets +€149,956
up €149,956 (+62.5%), from €239,831 to €389,787
of which Land and buildings: +€134,153
- Cash -€14,896
down €14,896 (-7.9%), from €188,728 to €173,833
mainly Investment in fixed assets (net) (-€139,806) and Other debts (-€45,536)
- Financial fixed assets -€12,727
down €12,727 (-4.5%), from €281,453 to €268,727
- Reserves +€167,548
up €167,548 (+26.8%), from €624,145 to €791,692
- Other debts -€45,536
down €45,536 (-32.5%), from €140,152 to €94,616
- Gross operating margin +€77,210
up €77,210 (+46.3%), from €166,762 to €243,972
- Taxes +€18,924
up €18,924 (+39.5%), from €47,856 to €66,780
- Financial charges +€6,648
up €6,648 (+1,653%), from €402 to €7,050
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 | €802,461 | €927,088 | +€124,627 | +15.5% |
| Fixed assets | 21/28 | €521,284 | €658,514 | +€137,230 | +26.3% |
| Tangible fixed assets | 22/27 | €239,831 | €389,787 | +€149,956 | +62.5% |
| Land and buildings | 22 | €238,030 | €372,184 | +€134,153 | +56.4% |
| Plant, machinery and equipment | 23 | €1,475 | €1,079 | -€396 | -26.8% |
| Furniture and vehicles | 24 | €325 | €16,524 | +€16,199 | +4,979% |
| Financial fixed assets | 28 | €281,453 | €268,727 | -€12,727 | -4.5% |
| Current assets | 29/58 | €281,177 | €268,575 | -€12,603 | -4.5% |
| Amounts receivable after more than one year | 29 | €3,117 | €3,117 | = | 0.0% |
| Other amounts receivable | 291 | €3,117 | €3,117 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,536 | €38,533 | +€5,997 | +18.4% |
| Trade receivables | 40 | €32,364 | €33,181 | +€817 | +2.5% |
| Other amounts receivable | 41 | €173 | €5,352 | +€5,180 | +3,002% |
| Current investments | 50/53 | €50,597 | €50,000 | -€597 | -1.2% |
| Cash at bank and in hand | 54/58 | €188,728 | €173,833 | -€14,896 | -7.9% |
| Deferred charges and accrued income | 490/1 | €6,199 | €3,092 | -€3,107 | -50.1% |
| Total equity and liabilities | 10/49 | €802,461 | €927,088 | +€124,627 | +15.5% |
| Equity | 10/15 | €636,545 | €804,092 | +€167,548 | +26.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €624,145 | €791,692 | +€167,548 | +26.8% |
| Distributable reserves | 133 | €624,145 | €791,692 | +€167,548 | +26.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €165,916 | €122,996 | -€42,920 | -25.9% |
| Amounts payable within one year | 42/48 | €162,877 | €118,666 | -€44,211 | -27.1% |
| Trade debts | 44 | €354 | €1,468 | +€1,115 | +315% |
| Suppliers | 440/4 | €354 | €1,468 | +€1,115 | +315% |
| Taxes, remuneration and social security | 45 | €22,371 | €22,581 | +€210 | +0.9% |
| Taxes | 450/3 | €22,371 | €22,581 | +€210 | +0.9% |
| Other amounts payable | 47/48 | €140,152 | €94,616 | -€45,536 | -32.5% |
| Accrued charges and deferred income | 492/3 | €3,040 | €4,330 | +€1,291 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,571 | €2,576 | +€1,005 | +64.0% |
| Other operating charges | 640/8 | €2,570 | €1,901 | -€669 | -26.0% |
| Non-recurring operating charges | 66A | €107 | €0 | -€107 | -100% |
| Gross operating margin | 9900 | €166,762 | €243,972 | +€77,210 | +46.3% |
| Operating profit (loss) | 9901 | €162,514 | €239,495 | +€76,981 | +47.4% |
| Financial income | 75/76B | €1,705 | €1,882 | +€177 | +10.4% |
| Recurring financial income | 75 | €1,705 | €1,882 | +€177 | +10.4% |
| Financial charges | 65/66B | €402 | €7,050 | +€6,648 | +1,653% |
| Recurring financial charges | 65 | €402 | €7,050 | +€6,648 | +1,653% |
| Profit (loss) for the period before taxes | 9903 | €163,818 | €234,327 | +€70,510 | +43.0% |
| Income taxes | 67/77 | €47,856 | €66,780 | +€18,924 | +39.5% |
| Profit (loss) for the period | 9904 | €115,962 | €167,548 | +€51,586 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €115,962 | €167,548 | +€51,586 | +44.5% |
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 1 November 2026 via checked.be.