Bruno Deraedt: what changed
Two fiscal 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 Deraedt
Largest movements
- Current investments +€22,421
up €22,421 (+39.8%), from €56,343 to €78,764
- Tangible fixed assets -€18,298
down €18,298 (-39.1%), from €46,782 to €28,484
of which Furniture and vehicles: -€18,064
- Receivables within one year -€7,946
down €7,946 (-51.8%), from €15,331 to €7,385
of which Trade receivables: -€6,175
- Reserves -€152,073
down €152,073 (-79.5%), from €191,200 to €39,127
- Other debts +€126,530
up €126,530 (+259.9%), from €48,689 to €175,219
- Tax, wage and social debts +€35,005
up €35,005 (+257.3%), from €13,603 to €48,608
- Current portion of long-term debt -€9,144
down €9,144 (-57.7%), from €15,844 to €6,700
- Debts after one year -€6,700
down €6,700 (-100.0%), from €6,700 to €0
- Depreciation +€2,772
up €2,772 (+12.9%), from €21,485 to €24,257
- Financial income +€1,891
up €1,891 (+138.7%), from €1,363 to €3,254
- Financial charges -€883
down €883 (-19.4%), from €4,539 to €3,656
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.
Cash bridge derived
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 | €283,789 | €277,645 | -€6,144 | -2.2% |
| Fixed assets | 21/28 | €46,782 | €28,484 | -€18,298 | -39.1% |
| Tangible fixed assets | 22/27 | €46,782 | €28,484 | -€18,298 | -39.1% |
| Plant, machinery and equipment | 23 | €1,781 | €1,547 | -€234 | -13.2% |
| Furniture and vehicles | 24 | €45,001 | €26,937 | -€18,064 | -40.1% |
| Current assets | 29/58 | €237,006 | €249,160 | +€12,154 | +5.1% |
| Amounts receivable within one year | 40/41 | €15,331 | €7,385 | -€7,946 | -51.8% |
| Trade receivables | 40 | €6,175 | €0 | -€6,175 | -100.0% |
| Other amounts receivable | 41 | €9,155 | €7,385 | -€1,771 | -19.3% |
| Current investments | 50/53 | €56,343 | €78,764 | +€22,421 | +39.8% |
| Cash at bank and in hand | 54/58 | €161,923 | €159,509 | -€2,414 | -1.5% |
| Deferred charges and accrued income | 490/1 | €3,410 | €3,503 | +€93 | +2.7% |
| Total equity and liabilities | 10/49 | €283,789 | €277,645 | -€6,144 | -2.2% |
| Equity | 10/15 | €194,200 | €42,127 | -€152,073 | -78.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €191,200 | €39,127 | -€152,073 | -79.5% |
| Distributable reserves | 133 | €191,200 | €39,127 | -€152,073 | -79.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €89,589 | €235,518 | +€145,929 | +162.9% |
| Amounts payable after more than one year | 17 | €6,700 | €0 | -€6,700 | -100.0% |
| Financial debts | 170/4 | €6,700 | €0 | -€6,700 | -100.0% |
| Amounts payable within one year | 42/48 | €82,871 | €235,095 | +€152,224 | +183.7% |
| Current portion of amounts payable after more than one year | 42 | €15,844 | €6,700 | -€9,144 | -57.7% |
| Financial debts | 43 | €2 | €0 | -€2 | -100.0% |
| Other loans | 439 | €2 | €0 | -€2 | -100.0% |
| Trade debts | 44 | €4,733 | €4,568 | -€164 | -3.5% |
| Suppliers | 440/4 | €4,733 | €4,568 | -€164 | -3.5% |
| Taxes, remuneration and social security | 45 | €13,603 | €48,608 | +€35,005 | +257.3% |
| Taxes | 450/3 | €13,603 | €48,608 | +€35,005 | +257.3% |
| Other amounts payable | 47/48 | €48,689 | €175,219 | +€126,530 | +259.9% |
| Accrued charges and deferred income | 492/3 | €18 | €423 | +€405 | +2201.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,485 | €24,257 | +€2,772 | +12.9% |
| Other operating charges | 640/8 | €1,370 | €1,033 | -€337 | -24.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €87,442 | €88,065 | +€622 | +0.7% |
| Operating profit (loss) | 9901 | €64,588 | €62,775 | -€1,813 | -2.8% |
| Financial income | 75/76B | €1,363 | €3,254 | +€1,891 | +138.7% |
| Recurring financial income | 75 | €1,363 | €3,254 | +€1,891 | +138.7% |
| Financial charges | 65/66B | €4,539 | €3,656 | -€883 | -19.4% |
| Recurring financial charges | 65 | €4,539 | €3,656 | -€883 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €61,412 | €62,372 | +€960 | +1.6% |
| Income taxes | 67/77 | €14,426 | €14,446 | +€20 | +0.1% |
| Profit (loss) for the period | 9904 | €46,986 | €47,927 | +€940 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,986 | €47,927 | +€940 | +2.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.