BRUNO DE WINTER: 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 WINTER
Largest movements
- Cash -€193,743
down €193,743 (-96.7%), from €200,290 to €6,547
mainly Other debts (-€116,026) and Receivables within one year (-€106,211)
- Receivables within one year +€106,211
up €106,211 (+184.4%), from €57,585 to €163,796
of which Trade receivables: +€103,345
- Deferred charges and accrued income +€80,003
up €80,003 (+30.8%), from €260,000 to €340,003
- Current investments -€41,103
down €41,103 (-11.7%), from €351,103 to €310,000
- Tangible fixed assets -€35,292
down €35,292 (-13.6%), from €259,581 to €224,289
- Other debts -€116,026
down €116,026 (-99.0%), from €117,213 to €1,187
- Trade debts +€35,480
up €35,480 (+345.6%), from €10,267 to €45,747
- Debts after one year -€30,000
down €30,000 (-32.8%), from €91,442 to €61,442
- Tax, wage and social debts -€14,423
down €14,423 (-67.9%), from €21,237 to €6,814
- Reserves +€13,706
up €13,706 (+1.5%), from €896,746 to €910,452
- Depreciation +€8,518
up €8,518 (+22.2%), from €38,396 to €46,915
- Financial charges +€7,420
up €7,420 (+367.3%), from €2,020 to €9,440
- Gross operating margin +€6,072
up €6,072 (+7.7%), from €78,996 to €85,068
- Taxes -€5,127
down €5,127 (-31.1%), from €16,480 to €11,353
- Other operating charges -€1,500
down €1,500 (-29.1%), from €5,154 to €3,654
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,206,058 | €1,089,635 | -€116,423 | -9.7% |
| Fixed assets | 21/28 | €262,081 | €224,289 | -€37,792 | -14.4% |
| Tangible fixed assets | 22/27 | €259,581 | €224,289 | -€35,292 | -13.6% |
| Land and buildings | 22 | €117,551 | €100,264 | -€17,288 | -14.7% |
| Plant, machinery and equipment | 23 | €2,547 | €1,624 | -€923 | -36.2% |
| Furniture and vehicles | 24 | €136,958 | €121,062 | -€15,895 | -11.6% |
| Other tangible fixed assets | 26 | €2,525 | €1,340 | -€1,185 | -46.9% |
| Financial fixed assets | 28 | €2,500 | - | -€2,500 | |
| Current assets | 29/58 | €943,978 | €865,346 | -€78,631 | -8.3% |
| Amounts receivable after more than one year | 29 | €75,000 | €45,000 | -€30,000 | -40.0% |
| Other amounts receivable | 291 | €75,000 | €45,000 | -€30,000 | -40.0% |
| Amounts receivable within one year | 40/41 | €57,585 | €163,796 | +€106,211 | +184.4% |
| Trade receivables | 40 | €50,579 | €153,924 | +€103,345 | +204.3% |
| Other amounts receivable | 41 | €7,006 | €9,872 | +€2,866 | +40.9% |
| Current investments | 50/53 | €351,103 | €310,000 | -€41,103 | -11.7% |
| Cash at bank and in hand | 54/58 | €200,290 | €6,547 | -€193,743 | -96.7% |
| Deferred charges and accrued income | 490/1 | €260,000 | €340,003 | +€80,003 | +30.8% |
| Total equity and liabilities | 10/49 | €1,206,058 | €1,089,635 | -€116,423 | -9.7% |
| Equity | 10/15 | €915,346 | €929,052 | +€13,706 | +1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €896,746 | €910,452 | +€13,706 | +1.5% |
| Distributable reserves | 133 | €896,746 | €910,452 | +€13,706 | +1.5% |
| Amounts payable | 17/49 | €290,712 | €160,583 | -€130,129 | -44.8% |
| Amounts payable after more than one year | 17 | €91,442 | €61,442 | -€30,000 | -32.8% |
| Financial debts | 170/4 | €91,442 | €61,442 | -€30,000 | -32.8% |
| Amounts payable within one year | 42/48 | €188,417 | €88,287 | -€100,129 | -53.1% |
| Current portion of amounts payable after more than one year | 42 | €39,699 | €34,539 | -€5,160 | -13.0% |
| Trade debts | 44 | €10,267 | €45,747 | +€35,480 | +345.6% |
| Suppliers | 440/4 | €10,267 | €45,747 | +€35,480 | +345.6% |
| Taxes, remuneration and social security | 45 | €21,237 | €6,814 | -€14,423 | -67.9% |
| Taxes | 450/3 | €21,237 | €6,814 | -€14,423 | -67.9% |
| Other amounts payable | 47/48 | €117,213 | €1,187 | -€116,026 | -99.0% |
| Accrued charges and deferred income | 492/3 | €10,854 | €10,854 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,396 | €46,915 | +€8,518 | +22.2% |
| Other operating charges | 640/8 | €5,154 | €3,654 | -€1,500 | -29.1% |
| Gross operating margin | 9900 | €78,996 | €85,068 | +€6,072 | +7.7% |
| Operating profit (loss) | 9901 | €35,445 | €34,499 | -€946 | -2.7% |
| Financial charges | 65/66B | €2,020 | €9,440 | +€7,420 | +367.3% |
| Recurring financial charges | 65 | €2,020 | €9,440 | +€7,420 | +367.3% |
| Profit (loss) for the period before taxes | 9903 | €33,425 | €25,059 | -€8,366 | -25.0% |
| Income taxes | 67/77 | €16,480 | €11,353 | -€5,127 | -31.1% |
| Profit (loss) for the period | 9904 | €16,946 | €13,706 | -€3,239 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,946 | €13,706 | -€3,239 | -19.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.