BRUNAL: 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.
BRUNAL
Largest movements
- Receivables within one year -€73,981
down €73,981 (-52.7%), from €140,288 to €66,307
of which Trade receivables: -€85,354
- Cash -€24,462
down €24,462 (-81.6%), from €29,993 to €5,531
mainly Trade debts (-€70,641) and Other debts (-€20,763)
- Deferred charges and accrued income +€17,341
new in 2025: €17,341
- Tangible fixed assets +€5,447
up €5,447 (+60.9%), from €8,939 to €14,386
of which Furniture and vehicles: +€6,982
- Current investments +€3,050
new in 2025: €3,050
- Trade debts -€70,641
down €70,641 (-89.3%), from €79,076 to €8,435
- Other debts -€20,763
down €20,763 (-67.5%), from €30,763 to €10,000
- Profit (loss) carried forward +€18,799
up €18,799 (+30.7%), from €61,321 to €80,120
- Taxes +€4,588
new in 2025: €4,588
- Gross operating margin -€4,266
down €4,266 (-9.7%), from €43,883 to €39,617
- Financial charges -€2,519
down €2,519 (-85.5%), from €2,946 to €427
- Depreciation +€727
up €727 (+14.2%), from €5,128 to €5,855
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 | €179,220 | €106,615 | -€72,605 | -40.5% |
| Fixed assets | 21/28 | €8,939 | €14,386 | +€5,447 | +60.9% |
| Tangible fixed assets | 22/27 | €8,939 | €14,386 | +€5,447 | +60.9% |
| Plant, machinery and equipment | 23 | €1,535 | - | -€1,535 | |
| Furniture and vehicles | 24 | €7,404 | €14,386 | +€6,982 | +94.3% |
| Current assets | 29/58 | €170,281 | €92,229 | -€78,052 | -45.8% |
| Amounts receivable within one year | 40/41 | €140,288 | €66,307 | -€73,981 | -52.7% |
| Trade receivables | 40 | €129,605 | €44,251 | -€85,354 | -65.9% |
| Other amounts receivable | 41 | €10,683 | €22,056 | +€11,373 | +106% |
| Current investments | 50/53 | - | €3,050 | +€3,050 | |
| Cash at bank and in hand | 54/58 | €29,993 | €5,531 | -€24,462 | -81.6% |
| Deferred charges and accrued income | 490/1 | - | €17,341 | +€17,341 | |
| Total equity and liabilities | 10/49 | €179,220 | €106,615 | -€72,605 | -40.5% |
| Equity | 10/15 | €69,381 | €88,180 | +€18,799 | +27.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,321 | €80,120 | +€18,799 | +30.7% |
| Amounts payable | 17/49 | €109,839 | €18,435 | -€91,404 | -83.2% |
| Amounts payable within one year | 42/48 | €109,839 | €18,435 | -€91,404 | -83.2% |
| Trade debts | 44 | €79,076 | €8,435 | -€70,641 | -89.3% |
| Suppliers | 440/4 | €79,076 | €8,435 | -€70,641 | -89.3% |
| Other amounts payable | 47/48 | €30,763 | €10,000 | -€20,763 | -67.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,128 | €5,855 | +€727 | +14.2% |
| Other operating charges | 640/8 | €474 | €186 | -€288 | -60.8% |
| Gross operating margin | 9900 | €43,883 | €39,617 | -€4,266 | -9.7% |
| Operating profit (loss) | 9901 | €38,281 | €33,576 | -€4,705 | -12.3% |
| Financial income | 75/76B | - | €238 | +€238 | |
| Recurring financial income | 75 | - | €238 | +€238 | |
| Financial charges | 65/66B | €2,946 | €427 | -€2,519 | -85.5% |
| Recurring financial charges | 65 | €2,946 | €427 | -€2,519 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | €35,335 | €33,387 | -€1,948 | -5.5% |
| Income taxes | 67/77 | - | €4,588 | +€4,588 | |
| Profit (loss) for the period | 9904 | €35,335 | €28,799 | -€6,536 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,335 | €28,799 | -€6,536 | -18.5% |
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 16 October 2026 via checked.be.