BRUNARY: what changed
Two fiscal 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.
BRUNARY
Largest movements
- Cash -€2.2m
down €2.2m (-94.0%), from €2.4m to €141,793
mainly Current investments (-€2.2m) and Investment in fixed assets (net) (-€148,235)
- Current investments +€2.2m
up €2.2m (+45.8%), from €4.8m to €7.0m
No liability line moved by more than 1% of the balance sheet total.
- Financial income +€24,033
up €24,033 (+6.5%), from €368,449 to €392,482
- Taxes +€16,775
up €16,775 (+116.1%), from €14,449 to €31,224
- Financial charges +€15,921
up €15,921 (+8.8%), from €181,533 to €197,454
- Gross operating margin +€5,749
up €5,749 (+53.2%), from -€10,801 to -€5,052
- Other operating charges +€2,896
up €2,896 (+31.9%), from €9,066 to €11,962
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 | €27,334,589 | €27,512,436 | +€177,847 | +0.7% |
| Fixed assets | 21/28 | €20,052,353 | €20,200,364 | +€148,010 | +0.7% |
| Tangible fixed assets | 22/27 | €225 | - | -€225 | |
| Furniture and vehicles | 24 | €225 | - | -€225 | |
| Financial fixed assets | 28 | €20,052,129 | €20,200,364 | +€148,235 | +0.7% |
| Current assets | 29/58 | €7,282,235 | €7,312,072 | +€29,836 | +0.4% |
| Amounts receivable within one year | 40/41 | €42,762 | €56,417 | +€13,655 | +31.9% |
| Trade receivables | 40 | €6,310 | €12,816 | +€6,506 | +103.1% |
| Other amounts receivable | 41 | €36,452 | €43,601 | +€7,149 | +19.6% |
| Current investments | 50/53 | €4,793,174 | €6,990,283 | +€2.2m | +45.8% |
| Cash at bank and in hand | 54/58 | €2,380,018 | €141,793 | -€2.2m | -94.0% |
| Deferred charges and accrued income | 490/1 | €66,282 | €123,579 | +€57,297 | +86.4% |
| Total equity and liabilities | 10/49 | €27,334,589 | €27,512,436 | +€177,847 | +0.7% |
| Equity | 10/15 | €22,710,761 | €22,857,327 | +€146,566 | +0.6% |
| Contributions | 10/11 | €968,600 | €968,600 | = | 0.0% |
| Capital | 10 | €968,600 | €968,600 | = | 0.0% |
| Issued capital | 100 | €968,600 | €968,600 | = | 0.0% |
| Reserves | 13 | €19,310,670 | €19,457,235 | +€146,566 | +0.8% |
| Non-distributable reserves | 130/1 | €96,860 | €96,860 | = | 0.0% |
| Legal reserve | 130 | €96,860 | €96,860 | = | 0.0% |
| Distributable reserves | 133 | €19,213,810 | €19,360,375 | +€146,566 | +0.8% |
| Profit (loss) carried forward | 14 | €2,431,491 | €2,431,491 | = | 0.0% |
| Amounts payable | 17/49 | €4,623,828 | €4,655,109 | +€31,281 | +0.7% |
| Amounts payable after more than one year | 17 | €4,613,114 | €4,613,114 | = | 0.0% |
| Financial debts | 170/4 | €4,613,114 | €4,613,114 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,750 | €2,684 | +€934 | +53.4% |
| Trade debts | 44 | - | €102 | +€102 | |
| Suppliers | 440/4 | - | €102 | +€102 | |
| Taxes, remuneration and social security | 45 | €1,750 | €2,583 | +€833 | +47.6% |
| Taxes | 450/3 | €1,750 | €2,583 | +€833 | +47.6% |
| Accrued charges and deferred income | 492/3 | €8,964 | €39,310 | +€30,347 | +338.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,148 | €225 | -€923 | -80.4% |
| Other operating charges | 640/8 | €9,066 | €11,962 | +€2,896 | +31.9% |
| Gross operating margin | 9900 | -€10,801 | -€5,052 | +€5,749 | +53.2% |
| Operating profit (loss) | 9901 | -€21,015 | -€17,239 | +€3,776 | +18.0% |
| Financial income | 75/76B | €368,449 | €392,482 | +€24,033 | +6.5% |
| Recurring financial income | 75 | €368,449 | €392,482 | +€24,033 | +6.5% |
| Financial charges | 65/66B | €181,533 | €197,454 | +€15,921 | +8.8% |
| Recurring financial charges | 65 | €181,533 | €197,454 | +€15,921 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €165,902 | €177,790 | +€11,888 | +7.2% |
| Income taxes | 67/77 | €14,449 | €31,224 | +€16,775 | +116.1% |
| Profit (loss) for the period | 9904 | €151,453 | €146,566 | -€4,887 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €151,453 | €146,566 | -€4,887 | -3.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.