BRUNO AGUIRRE: 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.
BRUNO AGUIRRE
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€55,742
up €55,742 (+100%), from €55,589 to €111,331
mainly Current investments (+€100,000) and Net result for the year (+€87,309)
- Tangible fixed assets -€10,604
down €10,604 (-23.6%), from €44,991 to €34,388
of which Furniture and vehicles: -€10,084
- Receivables within one year -€3,976
down €3,976 (-11.9%), from €33,467 to €29,491
of which Trade receivables: -€7,467
- Reserves -€49,038
down €49,038 (-38.1%), from €128,840 to €79,802
- Other debts -€7,047
down €7,047 (-7.7%), from €91,986 to €84,939
- Tax, wage and social debts -€2,996
down €2,996 (-23.8%), from €12,576 to €9,579
of which Taxes: -€4,352
- Gross operating margin +€5,264
up €5,264 (+4.5%), from €116,202 to €121,466
- Depreciation +€2,577
up €2,577 (+32.1%), from €8,027 to €10,604
- Financial income -€1,443
down €1,443 (-77.5%), from €1,861 to €419
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 | €234,762 | €177,085 | -€57,678 | -24.6% |
| Fixed assets | 21/28 | €44,991 | €34,388 | -€10,604 | -23.6% |
| Tangible fixed assets | 22/27 | €44,991 | €34,388 | -€10,604 | -23.6% |
| Plant, machinery and equipment | 23 | €2,336 | €1,816 | -€520 | -22.3% |
| Furniture and vehicles | 24 | €42,656 | €32,572 | -€10,084 | -23.6% |
| Current assets | 29/58 | €189,771 | €142,697 | -€47,074 | -24.8% |
| Amounts receivable within one year | 40/41 | €33,467 | €29,491 | -€3,976 | -11.9% |
| Trade receivables | 40 | €33,467 | €26,000 | -€7,467 | -22.3% |
| Other amounts receivable | 41 | - | €3,491 | +€3,491 | |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €55,589 | €111,331 | +€55,742 | +100% |
| Deferred charges and accrued income | 490/1 | €716 | €1,875 | +€1,160 | +162% |
| Total equity and liabilities | 10/49 | €234,762 | €177,085 | -€57,678 | -24.6% |
| Equity | 10/15 | €128,940 | €79,902 | -€49,038 | -38.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €128,840 | €79,802 | -€49,038 | -38.1% |
| Distributable reserves | 133 | €128,840 | €79,802 | -€49,038 | -38.1% |
| Amounts payable | 17/49 | €105,823 | €97,183 | -€8,640 | -8.2% |
| Amounts payable within one year | 42/48 | €105,117 | €97,183 | -€7,935 | -7.5% |
| Trade debts | 44 | €556 | €2,665 | +€2,109 | +380% |
| Suppliers | 440/4 | €556 | €2,665 | +€2,109 | +380% |
| Taxes, remuneration and social security | 45 | €12,576 | €9,579 | -€2,996 | -23.8% |
| Taxes | 450/3 | €12,576 | €8,224 | -€4,352 | -34.6% |
| Remuneration and social security | 454/9 | - | €1,355 | +€1,355 | |
| Other amounts payable | 47/48 | €91,986 | €84,939 | -€7,047 | -7.7% |
| Accrued charges and deferred income | 492/3 | €705 | - | -€705 | |
| Non-recurring operating income | 76A | €7,873 | - | -€7,873 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,027 | €10,604 | +€2,577 | +32.1% |
| Other operating charges | 640/8 | €763 | €510 | -€253 | -33.1% |
| Gross operating margin | 9900 | €116,202 | €121,466 | +€5,264 | +4.5% |
| Operating profit (loss) | 9901 | €107,413 | €110,353 | +€2,940 | +2.7% |
| Financial income | 75/76B | €1,861 | €419 | -€1,443 | -77.5% |
| Recurring financial income | 75 | €1,861 | €419 | -€1,443 | -77.5% |
| Financial charges | 65/66B | €499 | €153 | -€346 | -69.3% |
| Recurring financial charges | 65 | €499 | €153 | -€346 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €108,775 | €110,618 | +€1,843 | +1.7% |
| Income taxes | 67/77 | €22,357 | €23,309 | +€952 | +4.3% |
| Profit (loss) for the period | 9904 | €86,418 | €87,309 | +€891 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,418 | €87,309 | +€891 | +1.0% |
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 28 October 2026 via checked.be.