Bruno Mortier: 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 Mortier
Largest movements
- Cash +€52,219
up €52,219 (+65.0%), from €80,350 to €132,569
mainly Net result for the year (+€89,517) and Other debts (+€30,556)
- Tangible fixed assets -€20,199
down €20,199 (-25.6%), from €78,879 to €58,680
of which Furniture and vehicles: -€18,688
- Receivables within one year +€7,538
up €7,538 (+30.9%), from €24,410 to €31,948
of which Trade receivables: +€4,785
- Other debts +€30,556
up €30,556 (+376%), from €8,135 to €38,691
- Reserves +€5,975
up €5,975 (+2.7%), from €224,262 to €230,236
- Gross operating margin -€25,533
down €25,533 (-16.4%), from €155,928 to €130,395
- Taxes -€6,680
down €6,680 (-22.0%), from €30,429 to €23,749
- Financial income +€3,380
up €3,380 (+564%), from €599 to €3,979
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 | €251,542 | €291,547 | +€40,004 | +15.9% |
| Fixed assets | 21/28 | €78,879 | €58,680 | -€20,199 | -25.6% |
| Tangible fixed assets | 22/27 | €78,879 | €58,680 | -€20,199 | -25.6% |
| Plant, machinery and equipment | 23 | €1,589 | €967 | -€621 | -39.1% |
| Furniture and vehicles | 24 | €72,173 | €53,485 | -€18,688 | -25.9% |
| Other tangible fixed assets | 26 | €5,117 | €4,228 | -€889 | -17.4% |
| Current assets | 29/58 | €172,663 | €232,866 | +€60,203 | +34.9% |
| Amounts receivable within one year | 40/41 | €24,410 | €31,948 | +€7,538 | +30.9% |
| Trade receivables | 40 | €19,638 | €24,423 | +€4,785 | +24.4% |
| Other amounts receivable | 41 | €4,773 | €7,525 | +€2,752 | +57.7% |
| Current investments | 50/53 | €63,697 | €63,697 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €80,350 | €132,569 | +€52,219 | +65.0% |
| Deferred charges and accrued income | 490/1 | €4,207 | €4,653 | +€447 | +10.6% |
| Total equity and liabilities | 10/49 | €251,542 | €291,547 | +€40,004 | +15.9% |
| Equity | 10/15 | €229,362 | €235,336 | +€5,975 | +2.6% |
| Contributions | 10/11 | €5,100 | €5,100 | = | 0.0% |
| Reserves | 13 | €224,262 | €230,236 | +€5,975 | +2.7% |
| Distributable reserves | 133 | €224,262 | €230,236 | +€5,975 | +2.7% |
| Amounts payable | 17/49 | €22,181 | €56,210 | +€34,029 | +153% |
| Amounts payable within one year | 42/48 | €22,181 | €55,983 | +€33,802 | +152% |
| Trade debts | 44 | €1,261 | €1,802 | +€541 | +42.9% |
| Suppliers | 440/4 | €1,261 | €1,802 | +€541 | +42.9% |
| Taxes, remuneration and social security | 45 | €12,785 | €15,490 | +€2,705 | +21.2% |
| Taxes | 450/3 | €12,785 | €15,490 | +€2,705 | +21.2% |
| Other amounts payable | 47/48 | €8,135 | €38,691 | +€30,556 | +376% |
| Accrued charges and deferred income | 492/3 | - | €228 | +€228 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,657 | €20,199 | +€542 | +2.8% |
| Other operating charges | 640/8 | €633 | €597 | -€36 | -5.7% |
| Gross operating margin | 9900 | €155,928 | €130,395 | -€25,533 | -16.4% |
| Operating profit (loss) | 9901 | €135,637 | €109,599 | -€26,039 | -19.2% |
| Financial income | 75/76B | €599 | €3,979 | +€3,380 | +564% |
| Recurring financial income | 75 | €599 | €3,979 | +€3,380 | +564% |
| Financial charges | 65/66B | €80 | €312 | +€232 | +290% |
| Recurring financial charges | 65 | €80 | €312 | +€232 | +290% |
| Profit (loss) for the period before taxes | 9903 | €136,157 | €113,266 | -€22,890 | -16.8% |
| Income taxes | 67/77 | €30,429 | €23,749 | -€6,680 | -22.0% |
| Profit (loss) for the period | 9904 | €105,727 | €89,517 | -€16,210 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €105,727 | €89,517 | -€16,210 | -15.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.