Bruno de MENTEN: 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 de MENTEN
Largest movements
- Stocks and contracts -€21,205
down €21,205 (-34.8%), from €60,884 to €39,679
- Cash -€6,562
down €6,562 (-2.6%), from €251,652 to €245,090
mainly Contributions, distributions and other (-€34,665) and Investment in fixed assets (net) (-€21,436)
- Receivables within one year +€6,400
up €6,400 (+136%), from €4,702 to €11,101
of which Trade receivables: +€9,546
- Tangible fixed assets +€6,389
up €6,389 (+25.4%), from €25,165 to €31,553
of which Furniture and vehicles: +€6,627
- Accrued charges and deferred income -€9,116
down €9,116 (-88.6%), from €10,291 to €1,175
- Gross operating margin +€8,486
up €8,486 (+15.1%), from €56,149 to €64,635
- Depreciation +€4,342
up €4,342 (+40.6%), from €10,705 to €15,047
- Financial income -€3,353
down €3,353 (-44.2%), from €7,579 to €4,226
- Other operating charges +€808
up €808 (+58.7%), from €1,377 to €2,184
- Taxes -€707
down €707 (-4.0%), from €17,696 to €16,989
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 | €364,863 | €352,323 | -€12,540 | -3.4% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €42,678 | €49,066 | +€6,389 | +15.0% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €25,165 | €31,553 | +€6,389 | +25.4% |
| Land and buildings | 22 | €751 | €0 | -€751 | -100% |
| Plant, machinery and equipment | 23 | €3,777 | €4,290 | +€512 | +13.6% |
| Furniture and vehicles | 24 | €20,637 | €27,264 | +€6,627 | +32.1% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Financial fixed assets | 28 | €17,513 | €17,513 | = | 0.0% |
| Current assets | 29/58 | €322,185 | €303,256 | -€18,929 | -5.9% |
| Stocks and contracts in progress | 3 | €60,884 | €39,679 | -€21,205 | -34.8% |
| Stocks | 30/36 | €60,884 | €39,679 | -€21,205 | -34.8% |
| Amounts receivable within one year | 40/41 | €4,702 | €11,101 | +€6,400 | +136% |
| Trade receivables | 40 | - | €9,546 | +€9,546 | |
| Other amounts receivable | 41 | €4,702 | €1,555 | -€3,147 | -66.9% |
| Cash at bank and in hand | 54/58 | €251,652 | €245,090 | -€6,562 | -2.6% |
| Deferred charges and accrued income | 490/1 | €4,947 | €7,385 | +€2,438 | +49.3% |
| Total equity and liabilities | 10/49 | €364,863 | €352,323 | -€12,540 | -3.4% |
| Equity | 10/15 | €343,868 | €343,613 | -€255 | -0.1% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €312,881 | €312,626 | -€255 | -0.1% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €309,782 | €309,527 | -€255 | -0.1% |
| Amounts payable | 17/49 | €20,995 | €8,710 | -€12,286 | -58.5% |
| Amounts payable within one year | 42/48 | €10,704 | €7,535 | -€3,169 | -29.6% |
| Trade debts | 44 | €4,913 | €1,573 | -€3,340 | -68.0% |
| Suppliers | 440/4 | €4,913 | €1,573 | -€3,340 | -68.0% |
| Taxes, remuneration and social security | 45 | €5,791 | €5,919 | +€128 | +2.2% |
| Taxes | 450/3 | €5,791 | €5,919 | +€128 | +2.2% |
| Other amounts payable | 47/48 | - | €42 | +€42 | |
| Accrued charges and deferred income | 492/3 | €10,291 | €1,175 | -€9,116 | -88.6% |
| Remuneration, social security and pensions | 62 | €61 | - | -€61 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,705 | €15,047 | +€4,342 | +40.6% |
| Other operating charges | 640/8 | €1,377 | €2,184 | +€808 | +58.7% |
| Gross operating margin | 9900 | €56,149 | €64,635 | +€8,486 | +15.1% |
| Operating profit (loss) | 9901 | €44,007 | €47,403 | +€3,397 | +7.7% |
| Financial income | 75/76B | €7,579 | €4,226 | -€3,353 | -44.2% |
| Recurring financial income | 75 | €7,579 | €4,226 | -€3,353 | -44.2% |
| Financial charges | 65/66B | €172 | €230 | +€58 | +34.0% |
| Recurring financial charges | 65 | €172 | €230 | +€58 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | €51,414 | €51,399 | -€15 | 0.0% |
| Income taxes | 67/77 | €17,696 | €16,989 | -€707 | -4.0% |
| Profit (loss) for the period | 9904 | €33,718 | €34,410 | +€692 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,718 | €34,410 | +€692 | +2.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.