BRUNFAUT & GABRIEL: 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.
BRUNFAUT & GABRIEL
Largest movements
- Current investments +€100,748
up €100,748 (+36.7%), from €274,755 to €375,503
- Tangible fixed assets -€65,985
down €65,985 (-90.1%), from €73,216 to €7,232
of which Furniture and vehicles: -€62,975
- Cash +€62,901
up €62,901 (+520%), from €12,102 to €75,003
mainly Net result for the year (+€72,946) and Investment in fixed assets (net) (+€53,982)
- Deferred charges and accrued income -€13,646
down €13,646 (-84.8%), from €16,086 to €2,440
- Receivables within one year -€5,510
down €5,510 (-12.1%), from €45,570 to €40,060
of which Other amounts receivable: -€9,718
- Reserves +€79,691
up €79,691 (+28.2%), from €283,071 to €362,762
of which Distributable reserves: +€83,616
- Short-term financial debts -€30,000
no longer reported in 2026 (was €30,000)
- Trade debts +€20,471
up €20,471 (+113%), from €18,158 to €38,629
- Other debts +€14,198
new in 2026: €14,198
- Tax, wage and social debts +€7,509
up €7,509 (+25.8%), from €29,080 to €36,589
of which Taxes: +€6,309
- Depreciation -€44,936
down €44,936 (-78.9%), from €56,939 to €12,003
- Gross operating margin +€23,873
up €23,873 (+30.0%), from €79,449 to €103,321
- Financial income -€8,540
down €8,540 (-91.9%), from €9,295 to €755
- Taxes -€3,849
down €3,849 (-19.2%), from €20,015 to €16,166
- Financial charges +€1,193
up €1,193 (+139%), from €855 to €2,049
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €421,958 | €500,466 | +€78,508 | +18.6% |
| Fixed assets | 21/28 | €73,445 | €7,460 | -€65,985 | -89.8% |
| Tangible fixed assets | 22/27 | €73,216 | €7,232 | -€65,985 | -90.1% |
| Plant, machinery and equipment | 23 | €3,184 | €174 | -€3,010 | -94.5% |
| Furniture and vehicles | 24 | €70,032 | €7,057 | -€62,975 | -89.9% |
| Financial fixed assets | 28 | €229 | €229 | = | 0.0% |
| Current assets | 29/58 | €348,513 | €493,006 | +€144,492 | +41.5% |
| Amounts receivable within one year | 40/41 | €45,570 | €40,060 | -€5,510 | -12.1% |
| Trade receivables | 40 | €31,792 | €36,000 | +€4,208 | +13.2% |
| Other amounts receivable | 41 | €13,779 | €4,060 | -€9,718 | -70.5% |
| Current investments | 50/53 | €274,755 | €375,503 | +€100,748 | +36.7% |
| Cash at bank and in hand | 54/58 | €12,102 | €75,003 | +€62,901 | +520% |
| Deferred charges and accrued income | 490/1 | €16,086 | €2,440 | -€13,646 | -84.8% |
| Total equity and liabilities | 10/49 | €421,958 | €500,466 | +€78,508 | +18.6% |
| Equity | 10/15 | €308,416 | €381,362 | +€72,946 | +23.7% |
| Contributions | 10/11 | €25,345 | €18,600 | -€6,745 | -26.6% |
| Reserves | 13 | €283,071 | €362,762 | +€79,691 | +28.2% |
| Tax-exempt reserves | 132 | €3,925 | - | -€3,925 | |
| Distributable reserves | 133 | €279,146 | €362,762 | +€83,616 | +30.0% |
| Provisions and deferred taxes | 16 | €30,669 | €29,688 | -€981 | -3.2% |
| Provisions for liabilities and charges | 160/5 | €29,688 | €29,688 | = | 0.0% |
| Pensions and similar obligations | 160 | €29,688 | €29,688 | = | 0.0% |
| Deferred taxes | 168 | €981 | - | -€981 | |
| Amounts payable | 17/49 | €82,873 | €89,416 | +€6,543 | +7.9% |
| Amounts payable within one year | 42/48 | €82,655 | €89,416 | +€6,761 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €5,417 | - | -€5,417 | |
| Financial debts | 43 | €30,000 | - | -€30,000 | |
| Credit institutions | 430/8 | €30,000 | - | -€30,000 | |
| Trade debts | 44 | €18,158 | €38,629 | +€20,471 | +113% |
| Suppliers | 440/4 | €18,158 | €38,629 | +€20,471 | +113% |
| Taxes, remuneration and social security | 45 | €29,080 | €36,589 | +€7,509 | +25.8% |
| Taxes | 450/3 | €25,789 | €32,097 | +€6,309 | +24.5% |
| Remuneration and social security | 454/9 | €3,291 | €4,492 | +€1,200 | +36.5% |
| Other amounts payable | 47/48 | - | €14,198 | +€14,198 | |
| Accrued charges and deferred income | 492/3 | €218 | - | -€218 | |
| Non-recurring operating income | 76A | - | €99,041 | +€99,041 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,939 | €12,003 | -€44,936 | -78.9% |
| Other operating charges | 640/8 | €955 | €1,894 | +€939 | +98.3% |
| Gross operating margin | 9900 | €79,449 | €103,321 | +€23,873 | +30.0% |
| Operating profit (loss) | 9901 | €21,554 | €89,424 | +€67,870 | +315% |
| Financial income | 75/76B | €9,295 | €755 | -€8,540 | -91.9% |
| Recurring financial income | 75 | €9,295 | €755 | -€8,540 | -91.9% |
| Financial charges | 65/66B | €855 | €2,049 | +€1,193 | +139% |
| Recurring financial charges | 65 | €855 | €2,049 | +€1,193 | +139% |
| Profit (loss) for the period before taxes | 9903 | €29,993 | €88,130 | +€58,137 | +194% |
| Transfer from deferred taxes | 780 | €995 | €981 | -€14 | -1.4% |
| Income taxes | 67/77 | €20,015 | €16,166 | -€3,849 | -19.2% |
| Profit (loss) for the period | 9904 | €10,973 | €72,946 | +€61,972 | +565% |
| Transfer from tax-exempt reserves | 789 | €3,980 | €3,925 | -€55 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,953 | €76,871 | +€61,918 | +414% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.