Bruno Degrande: 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 Degrande
Largest movements
- Cash +€69,682
up €69,682 (+22.9%), from €304,041 to €373,723
mainly Net result for the year (+€109,177) and Depreciation (+€35,931)
- Tangible fixed assets -€35,346
down €35,346 (-4.1%), from €858,334 to €822,988
of which Land and buildings: -€21,375
- Reserves +€109,177
up €109,177 (+17.1%), from €640,014 to €749,191
of which Distributable reserves: +€109,177
- Debts after one year -€65,692
down €65,692 (-15.5%), from €424,358 to €358,665
- Gross operating margin -€18,208
down €18,208 (-9.0%), from €202,994 to €184,786
- Depreciation +€7,103
up €7,103 (+24.6%), from €28,828 to €35,931
- Taxes -€4,792
down €4,792 (-12.8%), from €37,505 to €32,713
- Financial income +€4,323
up €4,323 (+184%), from €2,355 to €6,678
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 | €1,183,482 | €1,214,549 | +€31,066 | +2.6% |
| Fixed assets | 21/28 | €858,334 | €822,988 | -€35,346 | -4.1% |
| Tangible fixed assets | 22/27 | €858,334 | €822,988 | -€35,346 | -4.1% |
| Land and buildings | 22 | €793,731 | €772,356 | -€21,375 | -2.7% |
| Plant, machinery and equipment | 23 | - | €439 | +€439 | |
| Furniture and vehicles | 24 | €64,603 | €50,193 | -€14,410 | -22.3% |
| Current assets | 29/58 | €325,148 | €391,560 | +€66,412 | +20.4% |
| Amounts receivable within one year | 40/41 | €21,107 | €17,430 | -€3,677 | -17.4% |
| Trade receivables | 40 | €21,107 | €17,430 | -€3,677 | -17.4% |
| Cash at bank and in hand | 54/58 | €304,041 | €373,723 | +€69,682 | +22.9% |
| Deferred charges and accrued income | 490/1 | - | €407 | +€407 | |
| Total equity and liabilities | 10/49 | €1,183,482 | €1,214,549 | +€31,066 | +2.6% |
| Equity | 10/15 | €655,014 | €764,191 | +€109,177 | +16.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Contributions outside capital | 11 | €15,000 | €15,000 | = | 0.0% |
| Other | 1109/19 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €640,014 | €749,191 | +€109,177 | +17.1% |
| Non-distributable reserves | 130/1 | €1,500 | €1,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,500 | €1,500 | = | 0.0% |
| Distributable reserves | 133 | €638,514 | €747,691 | +€109,177 | +17.1% |
| Amounts payable | 17/49 | €528,468 | €450,358 | -€78,110 | -14.8% |
| Amounts payable after more than one year | 17 | €424,358 | €358,665 | -€65,692 | -15.5% |
| Financial debts | 170/4 | €424,358 | €358,665 | -€65,692 | -15.5% |
| Amounts payable within one year | 42/48 | €101,371 | €89,013 | -€12,358 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €63,521 | €63,692 | +€171 | +0.3% |
| Trade debts | 44 | €2,977 | €1,436 | -€1,542 | -51.8% |
| Suppliers | 440/4 | €2,977 | €1,436 | -€1,542 | -51.8% |
| Taxes, remuneration and social security | 45 | €34,025 | €23,528 | -€10,497 | -30.9% |
| Taxes | 450/3 | €34,025 | €23,528 | -€10,497 | -30.9% |
| Other amounts payable | 47/48 | €847 | €357 | -€490 | -57.8% |
| Accrued charges and deferred income | 492/3 | €2,740 | €2,680 | -€60 | -2.2% |
| Non-recurring operating income | 76A | €27,375 | - | -€27,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,828 | €35,931 | +€7,103 | +24.6% |
| Other operating charges | 640/8 | €6,733 | €6,834 | +€101 | +1.5% |
| Gross operating margin | 9900 | €202,994 | €184,786 | -€18,208 | -9.0% |
| Operating profit (loss) | 9901 | €167,434 | €142,021 | -€25,412 | -15.2% |
| Financial income | 75/76B | €2,355 | €6,678 | +€4,323 | +184% |
| Recurring financial income | 75 | €2,355 | €6,678 | +€4,323 | +184% |
| Financial charges | 65/66B | €7,118 | €6,810 | -€308 | -4.3% |
| Recurring financial charges | 65 | €7,118 | €6,810 | -€308 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €162,670 | €141,890 | -€20,781 | -12.8% |
| Income taxes | 67/77 | €37,505 | €32,713 | -€4,792 | -12.8% |
| Profit (loss) for the period | 9904 | €125,165 | €109,177 | -€15,989 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €125,165 | €109,177 | -€15,989 | -12.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.