Bruno DEMONCEAU: 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 DEMONCEAU
Largest movements
- Cash +€384,954
up €384,954 (+263%), from €146,309 to €531,262
mainly Net result for the year (+€446,153) and Receivables within one year (+€128,192)
- Receivables within one year -€128,192
down €128,192 (-52.5%), from €244,247 to €116,055
of which Other amounts receivable: -€130,467
- Profit (loss) carried forward +€446,153
new in 2025: €446,153
- Other debts -€180,620
down €180,620 (-10.4%), from €1.7m to €1.6m
- Financial income +€214,140
up €214,140 (+143%), from €149,400 to €363,540
- Gross operating margin +€25,019
up €25,019 (+27.1%), from €92,276 to €117,295
- Taxes +€5,964
up €5,964 (+33.2%), from €17,981 to €23,945
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 | €1,794,080 | €2,041,737 | +€247,657 | +13.8% |
| Fixed assets | 21/28 | €1,403,525 | €1,394,420 | -€9,105 | -0.6% |
| Tangible fixed assets | 22/27 | €33,525 | €24,420 | -€9,105 | -27.2% |
| Furniture and vehicles | 24 | €33,525 | €24,420 | -€9,105 | -27.2% |
| Financial fixed assets | 28 | €1,370,000 | €1,370,000 | = | 0.0% |
| Current assets | 29/58 | €390,555 | €647,317 | +€256,762 | +65.7% |
| Amounts receivable within one year | 40/41 | €244,247 | €116,055 | -€128,192 | -52.5% |
| Trade receivables | 40 | €87,725 | €90,000 | +€2,275 | +2.6% |
| Other amounts receivable | 41 | €156,522 | €26,055 | -€130,467 | -83.4% |
| Cash at bank and in hand | 54/58 | €146,309 | €531,262 | +€384,954 | +263% |
| Total equity and liabilities | 10/49 | €1,794,080 | €2,041,737 | +€247,657 | +13.8% |
| Equity | 10/15 | €27,500 | €473,653 | +€446,153 | +1,622% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €446,153 | +€446,153 | |
| Amounts payable | 17/49 | €1,766,580 | €1,568,084 | -€198,496 | -11.2% |
| Amounts payable within one year | 42/48 | €1,760,056 | €1,566,791 | -€193,265 | -11.0% |
| Trade debts | 44 | €893 | €1,801 | +€908 | +102% |
| Suppliers | 440/4 | €893 | €1,801 | +€908 | +102% |
| Taxes, remuneration and social security | 45 | €21,015 | €7,462 | -€13,553 | -64.5% |
| Taxes | 450/3 | €21,015 | €7,462 | -€13,553 | -64.5% |
| Other amounts payable | 47/48 | €1,738,147 | €1,557,527 | -€180,620 | -10.4% |
| Accrued charges and deferred income | 492/3 | €6,524 | €1,293 | -€5,230 | -80.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,059 | €9,105 | +€46 | +0.5% |
| Other operating charges | 640/8 | €1,253 | €1,293 | +€41 | +3.2% |
| Gross operating margin | 9900 | €92,276 | €117,295 | +€25,019 | +27.1% |
| Operating profit (loss) | 9901 | €81,964 | €106,896 | +€24,933 | +30.4% |
| Financial income | 75/76B | €149,400 | €363,540 | +€214,140 | +143% |
| Recurring financial income | 75 | €149,400 | €363,540 | +€214,140 | +143% |
| Financial charges | 65/66B | €314 | €338 | +€24 | +7.7% |
| Recurring financial charges | 65 | €314 | €338 | +€24 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €231,049 | €470,098 | +€239,049 | +103% |
| Income taxes | 67/77 | €17,981 | €23,945 | +€5,964 | +33.2% |
| Profit (loss) for the period | 9904 | €213,068 | €446,153 | +€233,085 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €213,068 | €446,153 | +€233,085 | +109% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.