BRUNO EGGERMONT: 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.
What changed
BRUNO EGGERMONT
NACE 74.201, Photography, excluding press photography
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€29,162
2024 · €41,150-€11,988
Equity
€272,253
2024 · €274,855-€2,602
Cash
€92,461
2024 · €90,670+€1,791
Balance sheet total
€302,940
2024 · €332,615-€29,675
Largest movements
Assets
- Receivables within one year -€19,310
down €19,310 (-42.7%), from €45,262 to €25,951
of which Trade receivables: -€16,962
- Tangible fixed assets -€12,523
down €12,523 (-6.4%), from €194,820 to €182,297
of which Land and buildings: -€8,116
Equity and liabilities
- Current portion of long-term debt -€19,133
down €19,133 (-74.8%), from €25,565 to €6,432
- Debts after one year -€6,432
down €6,432 (-100%), from €6,432 to €0
Income statement
- Gross operating margin -€21,864
down €21,864 (-27.1%), from €80,701 to €58,837
- Depreciation -€6,400
down €6,400 (-26.8%), from €23,904 to €17,504
- Taxes -€2,921
down €2,921 (-27.4%), from €10,651 to €7,730
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.
Result 2024
€41,150
Gross operating margin
-€21,864
Depreciation
+€6,400
Other operating charges
+€5
Financial income
-€38
Financial charges
+€587
Taxes
+€2,921
Result 2025
€29,162
raises the resultlowers the result
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.
From operations
+€65,962
Investment
-€4,981
Financing
-€59,189
Cash 2024
€90,670
From operations (derived)
+€65,962
Net result for the year
+€29,162
Depreciation
+€17,504
Receivables within one year
+€19,310
Deferred charges and accrued income
-€367
Trade debts
-€523
Tax, wage and social debts
+€100
Other debts
+€776
Investment (derived)
-€4,981
Investment in fixed assets (net)
-€4,981
Financing
-€59,189
Debts after one year
-€6,432
Current portion of long-term debt
-€19,133
Short-term financial debts
-€1,859
Contributions, distributions and other
-€31,765
Cash 2025
€92,461
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €332,615 | €302,940 | -€29,675 | -8.9% |
| Fixed assets | 21/28 | €194,820 | €182,297 | -€12,523 | -6.4% |
| Tangible fixed assets | 22/27 | €194,820 | €182,297 | -€12,523 | -6.4% |
| Land and buildings | 22 | €165,938 | €157,821 | -€8,116 | -4.9% |
| Plant, machinery and equipment | 23 | €3,890 | €2,247 | -€1,644 | -42.3% |
| Furniture and vehicles | 24 | €2,445 | €988 | -€1,457 | -59.6% |
| Other tangible fixed assets | 26 | €22,547 | €21,241 | -€1,306 | -5.8% |
| Current assets | 29/58 | €137,796 | €120,644 | -€17,152 | -12.4% |
| Amounts receivable within one year | 40/41 | €45,262 | €25,951 | -€19,310 | -42.7% |
| Trade receivables | 40 | €39,716 | €22,754 | -€16,962 | -42.7% |
| Other amounts receivable | 41 | €5,546 | €3,197 | -€2,349 | -42.4% |
| Cash at bank and in hand | 54/58 | €90,670 | €92,461 | +€1,791 | +2.0% |
| Deferred charges and accrued income | 490/1 | €1,864 | €2,231 | +€367 | +19.7% |
| Total equity and liabilities | 10/49 | €332,615 | €302,940 | -€29,675 | -8.9% |
| Equity | 10/15 | €274,855 | €272,253 | -€2,602 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,435 | €33,435 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,575 | €0 | -€31,575 | -100% |
| Distributable reserves | 133 | - | €31,575 | +€31,575 | |
| Profit (loss) carried forward | 14 | €222,820 | €220,218 | -€2,602 | -1.2% |
| Amounts payable | 17/49 | €57,760 | €30,688 | -€27,073 | -46.9% |
| Amounts payable after more than one year | 17 | €6,432 | €0 | -€6,432 | -100% |
| Financial debts | 170/4 | €6,432 | €0 | -€6,432 | -100% |
| Amounts payable within one year | 42/48 | €50,508 | €29,868 | -€20,640 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €25,565 | €6,432 | -€19,133 | -74.8% |
| Financial debts | 43 | €2,221 | €361 | -€1,859 | -83.7% |
| Credit institutions | 430/8 | €2,221 | €361 | -€1,859 | -83.7% |
| Trade debts | 44 | €2,040 | €1,517 | -€523 | -25.6% |
| Suppliers | 440/4 | €2,040 | €1,517 | -€523 | -25.6% |
| Taxes, remuneration and social security | 45 | €10,824 | €10,924 | +€100 | +0.9% |
| Taxes | 450/3 | €10,824 | €10,924 | +€100 | +0.9% |
| Other amounts payable | 47/48 | €9,858 | €10,633 | +€776 | +7.9% |
| Accrued charges and deferred income | 492/3 | €820 | €820 | = | 0.0% |
| Non-recurring operating income | 76A | €84 | €0 | -€84 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,904 | €17,504 | -€6,400 | -26.8% |
| Other operating charges | 640/8 | €3,250 | €3,245 | -€5 | -0.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €80,701 | €58,837 | -€21,864 | -27.1% |
| Operating profit (loss) | 9901 | €53,546 | €38,088 | -€15,458 | -28.9% |
| Financial income | 75/76B | €41 | €3 | -€38 | -93.8% |
| Recurring financial income | 75 | €41 | €3 | -€38 | -93.8% |
| Financial charges | 65/66B | €1,786 | €1,198 | -€587 | -32.9% |
| Recurring financial charges | 65 | €1,786 | €1,198 | -€587 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €51,801 | €36,892 | -€14,909 | -28.8% |
| Income taxes | 67/77 | €10,651 | €7,730 | -€2,921 | -27.4% |
| Profit (loss) for the period | 9904 | €41,150 | €29,162 | -€11,988 | -29.1% |
| Transfer from tax-exempt reserves | 789 | - | €31,575 | +€31,575 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,150 | €60,737 | +€19,587 | +47.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.