BRUNO DUQUESNE: 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 DUQUESNE
Largest movements
- Cash +€121,336
up €121,336 (+44.9%), from €270,125 to €391,461
mainly Net result for the year (+€126,498) and Receivables within one year (+€36,993)
- Receivables within one year -€36,993
down €36,993 (-97.4%), from €37,993 to €1,000
of which Other amounts receivable: -€37,877
- Reserves +€126,498
up €126,498 (+19.6%), from €644,629 to €771,127
of which Distributable reserves: +€126,498
- Tax, wage and social debts -€29,972
down €29,972 (-53.8%), from €55,688 to €25,716
of which Taxes: -€19,602
- Provisions +€186,389
up €186,389, from -€186,389 to €0
- Financial charges -€179,029
down €179,029 (-98.1%), from €182,579 to €3,550
- Taxes +€29,954
up €29,954 (+122.6%), from €24,423 to €54,378
- Gross operating margin -€28,006
down €28,006 (-13.3%), from €210,013 to €182,007
- Financial income +€4,628
up €4,628 (+127.0%), from €3,643 to €8,271
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 | €1,092,287 | €1,177,190 | +€84,902 | +7.8% |
| Fixed assets | 21/28 | €287,787 | €282,444 | -€5,343 | -1.9% |
| Tangible fixed assets | 22/27 | €8,119 | €2,776 | -€5,343 | -65.8% |
| Furniture and vehicles | 24 | €8,119 | €2,776 | -€5,343 | -65.8% |
| Financial fixed assets | 28 | €279,667 | €279,667 | = | 0.0% |
| Current assets | 29/58 | €804,501 | €894,746 | +€90,245 | +11.2% |
| Amounts receivable within one year | 40/41 | €37,993 | €1,000 | -€36,993 | -97.4% |
| Trade receivables | 40 | €116 | €1,000 | +€884 | +764.6% |
| Other amounts receivable | 41 | €37,877 | €0 | -€37,877 | -100.0% |
| Current investments | 50/53 | €496,005 | €501,879 | +€5,874 | +1.2% |
| Cash at bank and in hand | 54/58 | €270,125 | €391,461 | +€121,336 | +44.9% |
| Deferred charges and accrued income | 490/1 | €378 | €405 | +€27 | +7.2% |
| Total equity and liabilities | 10/49 | €1,092,287 | €1,177,190 | +€84,902 | +7.8% |
| Equity | 10/15 | €1,010,089 | €1,136,587 | +€126,498 | +12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €644,629 | €771,127 | +€126,498 | +19.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €642,769 | €769,267 | +€126,498 | +19.7% |
| Profit (loss) carried forward | 14 | €346,860 | €346,860 | = | 0.0% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Amounts payable | 17/49 | €82,198 | €40,602 | -€41,596 | -50.6% |
| Amounts payable within one year | 42/48 | €82,198 | €40,602 | -€41,596 | -50.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €2,779 | €1,542 | -€1,237 | -44.5% |
| Suppliers | 440/4 | €2,779 | €1,542 | -€1,237 | -44.5% |
| Taxes, remuneration and social security | 45 | €55,688 | €25,716 | -€29,972 | -53.8% |
| Taxes | 450/3 | €45,318 | €25,716 | -€19,602 | -43.3% |
| Remuneration and social security | 454/9 | €10,370 | €0 | -€10,370 | -100.0% |
| Other amounts payable | 47/48 | €23,731 | €13,344 | -€10,387 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,841 | €5,343 | +€502 | +10.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€186,389 | €0 | +€186,389 | |
| Other operating charges | 640/8 | €571 | €509 | -€62 | -10.8% |
| Gross operating margin | 9900 | €210,013 | €182,007 | -€28,006 | -13.3% |
| Operating profit (loss) | 9901 | €390,991 | €176,155 | -€214,836 | -54.9% |
| Financial income | 75/76B | €3,643 | €8,271 | +€4,628 | +127.0% |
| Recurring financial income | 75 | €3,643 | €8,271 | +€4,628 | +127.0% |
| Financial charges | 65/66B | €182,579 | €3,550 | -€179,029 | -98.1% |
| Recurring financial charges | 65 | €182,579 | €3,550 | -€179,029 | -98.1% |
| Profit (loss) for the period before taxes | 9903 | €212,055 | €180,876 | -€31,179 | -14.7% |
| Income taxes | 67/77 | €24,423 | €54,378 | +€29,954 | +122.6% |
| Profit (loss) for the period | 9904 | €187,632 | €126,498 | -€61,133 | -32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €187,632 | €126,498 | -€61,133 | -32.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.