Bruno Eeckhout: what changed
What changed
Bruno Eeckhout
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€4.3m
2024 · €409,660+€3.9m
Equity
€8.4m
2024 · €4.4m+€4.0m
Cash
€26,604
2024 · €2.1m-€2.0m
Balance sheet total
€22.8m
2024 · €23.1m-€306,089
Largest movements
Assets
- Cash -€2.0m
down €2.0m (-98.7%), from €2.1m to €26,604
mainly Short-term financial debts (-€5.4m) and Investment in fixed assets (net) (-€1.6m)
- Tangible fixed assets +€920,702
up €920,702 (+12.9%), from €7.1m to €8.0m
of which Land and buildings: +€2.9m
- Financial fixed assets +€500,000
up €500,000 (+3.9%), from €12.8m to €13.3m
- Receivables within one year +€329,113
up €329,113 (+29.4%), from €1.1m to €1.4m
of which Other amounts receivable: +€387,913
Equity and liabilities
- Short-term financial debts -€5.4m
down €5.4m (-97.5%), from €5.5m to €140,139
of which Credit institutions: -€5.4m
- Reserves +€4.1m
up €4.1m (+189%), from €2.2m to €6.3m
of which Distributable reserves: +€3.3m
- Other debts +€1.1m
up €1.1m (+24.2%), from €4.5m to €5.5m
- Trade debts -€493,186
down €493,186 (-61.6%), from €800,207 to €307,021
- Provisions +€288,100
up €288,100 (+166%), from €174,074 to €462,174
Income statement
- Financial income +€3.1m
up €3.1m (+806%), from €384,145 to €3.5m
of which Financial income: +€3.5m
- Gross operating margin +€1.4m
up €1.4m (+277%), from €522,582 to €2.0m
- Financial charges +€301,335
up €301,335 (+82.8%), from €363,969 to €665,304
- Depreciation +€55,318
up €55,318 (+51.8%), from €106,889 to €162,207
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€409,660
Gross operating margin
+€1.4m
Depreciation
-€55,318
Other operating charges
-€14,127
Financial income
+€3.1m
Financial charges
-€301,335
Taxes
+€14,848
Deferred taxes and other
-€288,184
Result 2025
€4.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€5.0m
Investment
-€1.6m
Financing
-€5.5m
Cash 2024
€2.1m
From operations (derived)
+€5.0m
Net result for the year
+€4.3m
Depreciation
+€162,207
Receivables within one year
-€329,113
Smaller working-capital items
+€15,075
Provisions
+€288,100
Trade debts
-€493,186
Other debts
+€1.1m
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
-€5.5m
Debts after one year
+€133,425
Current portion of long-term debt
+€131,236
Short-term financial debts
-€5.4m
Contributions, distributions and other
-€356,213
Cash 2025
€26,604
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,085,795 | €22,779,707 | -€306,089 | -1.3% |
| Fixed assets | 21/28 | €19,878,959 | €21,299,661 | +€1.4m | +7.1% |
| Tangible fixed assets | 22/27 | €7,114,119 | €8,034,821 | +€920,702 | +12.9% |
| Land and buildings | 22 | €5,057,574 | €7,916,601 | +€2.9m | +56.5% |
| Plant, machinery and equipment | 23 | €95,300 | €91,173 | -€4,127 | -4.3% |
| Furniture and vehicles | 24 | €14,234 | €27,047 | +€12,813 | +90.0% |
| Other tangible fixed assets | 26 | €4,228 | €0 | -€4,228 | -100% |
| Assets under construction and advance payments | 27 | €1,942,784 | €0 | -€1.9m | -100% |
| Financial fixed assets | 28 | €12,764,840 | €13,264,840 | +€500,000 | +3.9% |
| Current assets | 29/58 | €3,206,836 | €1,480,046 | -€1.7m | -53.8% |
| Amounts receivable within one year | 40/41 | €1,120,744 | €1,449,856 | +€329,113 | +29.4% |
| Trade receivables | 40 | €117,200 | €58,400 | -€58,800 | -50.2% |
| Other amounts receivable | 41 | €1,003,544 | €1,391,456 | +€387,913 | +38.7% |
| Cash at bank and in hand | 54/58 | €2,074,117 | €26,604 | -€2.0m | -98.7% |
| Deferred charges and accrued income | 490/1 | €11,976 | €3,586 | -€8,391 | -70.1% |
| Total equity and liabilities | 10/49 | €23,085,795 | €22,779,707 | -€306,089 | -1.3% |
| Equity | 10/15 | €4,422,345 | €8,375,947 | +€4.0m | +89.4% |
| Contributions | 10/11 | €2,230,000 | €2,039,603 | -€190,397 | -8.5% |
| Reserves | 13 | €2,192,345 | €6,336,344 | +€4.1m | +189% |
| Tax-exempt reserves | 132 | €560,054 | €1,386,273 | +€826,220 | +148% |
| Distributable reserves | 133 | €1,632,291 | €4,950,070 | +€3.3m | +203% |
| Provisions and deferred taxes | 16 | €174,074 | €462,174 | +€288,100 | +166% |
| Deferred taxes | 168 | €174,074 | €462,174 | +€288,100 | +166% |
| Amounts payable | 17/49 | €18,489,376 | €13,941,586 | -€4.5m | -24.6% |
| Amounts payable after more than one year | 17 | €6,636,078 | €6,769,503 | +€133,425 | +2.0% |
| Financial debts | 170/4 | €6,636,078 | €6,469,503 | -€166,575 | -2.5% |
| Other amounts payable | 178/9 | - | €300,000 | +€300,000 | |
| Amounts payable within one year | 42/48 | €11,853,299 | €7,170,771 | -€4.7m | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €1,003,185 | €1,134,422 | +€131,236 | +13.1% |
| Financial debts | 43 | €5,545,318 | €140,139 | -€5.4m | -97.5% |
| Credit institutions | 430/8 | €5,420,318 | €15,139 | -€5.4m | -99.7% |
| Other loans | 439 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €800,207 | €307,021 | -€493,186 | -61.6% |
| Suppliers | 440/4 | €800,207 | €307,021 | -€493,186 | -61.6% |
| Taxes, remuneration and social security | 45 | €52,328 | €57,700 | +€5,372 | +10.3% |
| Taxes | 450/3 | €50,528 | €55,900 | +€5,372 | +10.6% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €4,452,260 | €5,531,489 | +€1.1m | +24.2% |
| Accrued charges and deferred income | 492/3 | - | €1,312 | +€1,312 | |
| Non-recurring operating income | 76A | - | €1,310,363 | +€1.3m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,889 | €162,207 | +€55,318 | +51.8% |
| Other operating charges | 640/8 | €10,827 | €24,954 | +€14,127 | +130% |
| Gross operating margin | 9900 | €522,582 | €1,969,416 | +€1.4m | +277% |
| Operating profit (loss) | 9901 | €404,865 | €1,782,254 | +€1.4m | +340% |
| Financial income | 75/76B | €384,145 | €3,481,582 | +€3.1m | +806% |
| Recurring financial income | 75 | €18,431 | €3,481,582 | +€3.5m | +18,790% |
| Non-recurring financial income | 76B | €365,715 | €0 | -€365,715 | -100% |
| Financial charges | 65/66B | €363,969 | €665,304 | +€301,335 | +82.8% |
| Recurring financial charges | 65 | €363,969 | €665,304 | +€301,335 | +82.8% |
| Profit (loss) for the period before taxes | 9903 | €425,041 | €4,598,532 | +€4.2m | +982% |
| Transfer from deferred taxes | 780 | €84 | €39,491 | +€39,407 | +47,059% |
| Transfer to deferred taxes | 680 | - | €327,591 | +€327,591 | |
| Income taxes | 67/77 | €15,465 | €617 | -€14,848 | -96.0% |
| Profit (loss) for the period | 9904 | €409,660 | €4,309,815 | +€3.9m | +952% |
| Transfer from tax-exempt reserves | 789 | €219 | €118,441 | +€118,221 | +53,896% |
| Transfer to tax-exempt reserves | 689 | - | €982,772 | +€982,772 | |
| Profit (loss) for the period to be appropriated | 9905 | €409,880 | €3,445,484 | +€3.0m | +741% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.