Bruno DEMARBAIX: 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 DEMARBAIX
Largest movements
- Cash +€41,313
up €41,313 (+61.2%), from €67,475 to €108,788
- Tangible fixed assets -€4,366
down €4,366 (-25.7%), from €17,006 to €12,640
- Receivables within one year -€2,073
down €2,073 (-100%), from €2,073 to €0
of which Other amounts receivable: -€2,073
- Other debts +€23,022
up €23,022 (+41.7%), from €55,244 to €78,266
- Tax, wage and social debts +€10,209
up €10,209 (+68.1%), from €14,982 to €25,191
- Trade debts +€1,583
up €1,583 (+71.5%), from €2,213 to €3,795
- Gross operating margin +€4,391
up €4,391 (+9.8%), from €44,580 to €48,971
- Depreciation +€1,924
up €1,924 (+75.5%), from €2,547 to €4,471
- Taxes +€1,562
up €1,562 (+17.5%), from €8,927 to €10,489
- Financial charges -€820
down €820 (-80.2%), from €1,022 to €202
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,296 | €123,996 | +€34,701 | +38.9% |
| Fixed assets | 21/28 | €17,006 | €12,640 | -€4,366 | -25.7% |
| Tangible fixed assets | 22/27 | €17,006 | €12,640 | -€4,366 | -25.7% |
| Furniture and vehicles | 24 | €17,006 | €12,640 | -€4,366 | -25.7% |
| Current assets | 29/58 | €72,289 | €111,356 | +€39,067 | +54.0% |
| Amounts receivable within one year | 40/41 | €2,073 | €0 | -€2,073 | -100% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €2,073 | €0 | -€2,073 | -100% |
| Cash at bank and in hand | 54/58 | €67,475 | €108,788 | +€41,313 | +61.2% |
| Deferred charges and accrued income | 490/1 | €2,742 | €2,568 | -€174 | -6.3% |
| Total equity and liabilities | 10/49 | €89,296 | €123,996 | +€34,701 | +38.9% |
| Equity | 10/15 | €16,846 | €16,705 | -€141 | -0.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | - | €1,855 | +€1,855 | |
| Profit (loss) carried forward | 14 | €2,591 | €2,450 | -€141 | -5.4% |
| Amounts payable | 17/49 | €72,450 | €107,291 | +€34,841 | +48.1% |
| Amounts payable within one year | 42/48 | €72,438 | €107,252 | +€34,813 | +48.1% |
| Trade debts | 44 | €2,213 | €3,795 | +€1,583 | +71.5% |
| Suppliers | 440/4 | €2,213 | €3,795 | +€1,583 | +71.5% |
| Taxes, remuneration and social security | 45 | €14,982 | €25,191 | +€10,209 | +68.1% |
| Taxes | 450/3 | €14,982 | €25,191 | +€10,209 | +68.1% |
| Other amounts payable | 47/48 | €55,244 | €78,266 | +€23,022 | +41.7% |
| Accrued charges and deferred income | 492/3 | €12 | €40 | +€28 | +246% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,547 | €4,471 | +€1,924 | +75.5% |
| Other operating charges | 640/8 | €1,366 | €1,057 | -€310 | -22.7% |
| Gross operating margin | 9900 | €44,580 | €48,971 | +€4,391 | +9.8% |
| Operating profit (loss) | 9901 | €40,667 | €43,444 | +€2,777 | +6.8% |
| Financial income | 75/76B | €0 | €15 | +€15 | +148,300% |
| Recurring financial income | 75 | €0 | €15 | +€15 | +148,300% |
| Financial charges | 65/66B | €1,022 | €202 | -€820 | -80.2% |
| Recurring financial charges | 65 | €1,022 | €202 | -€820 | -80.2% |
| Profit (loss) for the period before taxes | 9903 | €39,645 | €43,256 | +€3,612 | +9.1% |
| Income taxes | 67/77 | €8,927 | €10,489 | +€1,562 | +17.5% |
| Profit (loss) for the period | 9904 | €30,718 | €32,767 | +€2,050 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,718 | €32,767 | +€2,050 | +6.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.