BRUNO VANVOLSEM: 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 VANVOLSEM
Largest movements
- Cash +€50,592
up €50,592 (+69.5%), from €72,756 to €123,348
mainly Net result for the year (+€64,270) and Depreciation (+€53,809)
- Tangible fixed assets -€45,448
down €45,448 (-3.7%), from €1.2m to €1.2m
of which Land and buildings: -€44,398
- Profit (loss) carried forward +€63,884
up €63,884 (+11.5%), from €555,899 to €619,783
- Debts after one year -€49,835
down €49,835 (-8.1%), from €616,565 to €566,730
- Gross operating margin +€14,940
up €14,940 (+10.3%), from €145,386 to €160,326
- Turnover +€10,307
up €10,307 (+4.5%), from €231,165 to €241,472
- Other operating charges -€5,996
down €5,996 (-38.9%), from €15,431 to €9,435
- Purchases and services -€4,633
down €4,633 (-5.4%), from €85,779 to €81,146
- Taxes +€4,179
up €4,179 (+34.1%), from €12,251 to €16,430
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 | €1,334,041 | €1,333,384 | -€657 | 0.0% |
| Fixed assets | 21/28 | €1,241,224 | €1,195,776 | -€45,448 | -3.7% |
| Tangible fixed assets | 22/27 | €1,241,224 | €1,195,776 | -€45,448 | -3.7% |
| Land and buildings | 22 | €1,224,980 | €1,180,582 | -€44,398 | -3.6% |
| Plant, machinery and equipment | 23 | €4,499 | €6,627 | +€2,128 | +47.3% |
| Furniture and vehicles | 24 | €11,745 | €8,567 | -€3,178 | -27.1% |
| Current assets | 29/58 | €92,817 | €137,608 | +€44,791 | +48.3% |
| Stocks and contracts in progress | 3 | €422 | - | -€422 | |
| Stocks | 30/36 | €422 | - | -€422 | |
| Amounts receivable within one year | 40/41 | €19,639 | €14,260 | -€5,379 | -27.4% |
| Trade receivables | 40 | €19,639 | €9,903 | -€9,736 | -49.6% |
| Other amounts receivable | 41 | - | €4,356 | +€4,356 | |
| Cash at bank and in hand | 54/58 | €72,756 | €123,348 | +€50,592 | +69.5% |
| Total equity and liabilities | 10/49 | €1,334,041 | €1,333,384 | -€657 | 0.0% |
| Equity | 10/15 | €576,478 | €640,748 | +€64,270 | +11.1% |
| Contributions | 10/11 | €18,592 | €18,592 | +€0 | 0.0% |
| Reserves | 13 | €1,987 | €2,372 | +€385 | +19.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €128 | €513 | +€385 | +301.0% |
| Profit (loss) carried forward | 14 | €555,899 | €619,783 | +€63,884 | +11.5% |
| Amounts payable | 17/49 | €757,563 | €692,636 | -€64,927 | -8.6% |
| Amounts payable after more than one year | 17 | €616,565 | €566,730 | -€49,835 | -8.1% |
| Financial debts | 170/4 | €616,565 | €566,730 | -€49,835 | -8.1% |
| Amounts payable within one year | 42/48 | €140,998 | €125,252 | -€15,746 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €49,088 | €49,835 | +€747 | +1.5% |
| Trade debts | 44 | €15,936 | €7,915 | -€8,021 | -50.3% |
| Suppliers | 440/4 | €15,936 | €7,915 | -€8,021 | -50.3% |
| Taxes, remuneration and social security | 45 | €9,521 | €2,052 | -€7,469 | -78.4% |
| Taxes | 450/3 | €9,521 | €2,052 | -€7,469 | -78.4% |
| Other amounts payable | 47/48 | €66,453 | €65,450 | -€1,003 | -1.5% |
| Accrued charges and deferred income | 492/3 | - | €654 | +€654 | |
| Turnover | 70 | €231,165 | €241,472 | +€10,307 | +4.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €85,779 | €81,146 | -€4,633 | -5.4% |
| Remuneration, social security and pensions | 62 | €7,853 | €6,327 | -€1,526 | -19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,509 | €53,809 | +€300 | +0.6% |
| Other operating charges | 640/8 | €15,431 | €9,435 | -€5,996 | -38.9% |
| Gross operating margin | 9900 | €145,386 | €160,326 | +€14,940 | +10.3% |
| Operating profit (loss) | 9901 | €68,593 | €90,755 | +€22,162 | +32.3% |
| Financial income | 75/76B | €466 | €813 | +€347 | +74.5% |
| Recurring financial income | 75 | €55 | €81 | +€26 | +47.8% |
| Non-recurring financial income | 76B | €411 | €732 | +€321 | +78.1% |
| Financial charges | 65/66B | €11,794 | €10,868 | -€926 | -7.9% |
| Recurring financial charges | 65 | €11,794 | €10,868 | -€926 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €57,265 | €80,700 | +€23,435 | +40.9% |
| Income taxes | 67/77 | €12,251 | €16,430 | +€4,179 | +34.1% |
| Profit (loss) for the period | 9904 | €45,014 | €64,270 | +€19,256 | +42.8% |
| Transfer to tax-exempt reserves | 689 | €128 | €385 | +€257 | +200.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,886 | €63,885 | +€18,999 | +42.3% |
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 10 October 2026 via checked.be.