BRUSSELS CONSULTING MANAGEMENT: 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
BRUSSELS CONSULTING MANAGEMENT
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€82,407
2024 · €467-€82,874
Equity
€2.3m
2024 · €328,575+€1.9m
Cash
€578
2024 · €20,858-€20,280
Balance sheet total
€4.8m
2024 · €2.2m+€2.6m
Largest movements
Assets
- Tangible fixed assets +€2.1m
up €2.1m (+136%), from €1.5m to €3.6m
of which Land and buildings: +€2.0m
- Stocks and contracts +€444,834
up €444,834 (+105%), from €424,715 to €869,549
- Receivables within one year +€116,804
up €116,804 (+49.7%), from €234,990 to €351,794
of which Other amounts receivable: +€119,224
Equity and liabilities
- Revaluation surpluses +€2.0m
new in 2025: €2.0m
- Other debts +€538,452
up €538,452 (+122%), from €442,085 to €980,537
- Debts after one year +€90,494
up €90,494 (+7.7%), from €1.2m to €1.3m
of which Financial debts: +€91,728
- Profit (loss) carried forward -€78,133
down €78,133, from €43,556 to -€34,577
- Trade debts +€48,660
up €48,660 (+162%), from €30,030 to €78,689
Income statement
- Gross operating margin -€114,182
down €114,182 (-52.2%), from €218,945 to €104,762
- Financial charges -€27,971
down €27,971 (-29.1%), from €95,982 to €68,011
- Depreciation -€11,488
down €11,488 (-9.4%), from €122,869 to €111,380
- Taxes -€2,428
down €2,428 (-91.4%), from €2,657 to €229
- Staff costs +€2,211
new in 2025: €2,211
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
€467
Gross operating margin
-€114,182
Staff costs
-€2,211
Depreciation
+€11,488
Other operating charges
+€1,049
Other operating items
-€9,396
Financial income
-€21
Financial charges
+€27,971
Taxes
+€2,428
Result 2025
-€82,407
raises the resultlowers the resultnot broken down further in the accounts
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
+€34,307
Investment
-€2.2m
Financing
+€2.1m
Cash 2024
€20,858
From operations (derived)
+€34,307
Net result for the year
-€82,407
Depreciation
+€111,380
Stocks and contracts
-€444,834
Receivables within one year
-€116,804
Smaller working-capital items
-€3,784
Trade debts
+€48,660
Tax, wage and social debts
-€16,356
Other debts
+€538,452
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.2m
Financing
+€2.1m
Debts after one year
+€90,494
Current portion of long-term debt
+€22,260
Short-term financial debts
+€5,623
Contributions, distributions and other
+€2.0m
Cash 2025
€578
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,223,944 | €4,848,116 | +€2.6m | +118% |
| Fixed assets | 21/28 | €1,535,679 | €3,617,312 | +€2.1m | +136% |
| Intangible fixed assets | 21 | €937 | €637 | -€300 | -32.0% |
| Tangible fixed assets | 22/27 | €1,534,742 | €3,616,547 | +€2.1m | +136% |
| Land and buildings | 22 | €1,155,267 | €3,128,762 | +€2.0m | +171% |
| Furniture and vehicles | 24 | €101,381 | €84,111 | -€17,271 | -17.0% |
| Leasing and similar rights | 25 | - | €403,674 | +€403,674 | |
| Other tangible fixed assets | 26 | €278,093 | €0 | -€278,093 | -100% |
| Financial fixed assets | 28 | - | €129 | +€129 | |
| Current assets | 29/58 | €688,265 | €1,230,803 | +€542,538 | +78.8% |
| Stocks and contracts in progress | 3 | €424,715 | €869,549 | +€444,834 | +105% |
| Stocks | 30/36 | €424,715 | €869,549 | +€444,834 | +105% |
| Amounts receivable within one year | 40/41 | €234,990 | €351,794 | +€116,804 | +49.7% |
| Trade receivables | 40 | €2,420 | - | -€2,420 | |
| Other amounts receivable | 41 | €232,570 | €351,794 | +€119,224 | +51.3% |
| Cash at bank and in hand | 54/58 | €20,858 | €578 | -€20,280 | -97.2% |
| Deferred charges and accrued income | 490/1 | €7,701 | €8,882 | +€1,181 | +15.3% |
| Total equity and liabilities | 10/49 | €2,223,944 | €4,848,116 | +€2.6m | +118% |
| Equity | 10/15 | €328,575 | €2,266,218 | +€1.9m | +590% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,020,050 | +€2.0m | |
| Reserves | 13 | €278,819 | €274,545 | -€4,274 | -1.5% |
| Tax-exempt reserves | 132 | €134,259 | €129,985 | -€4,274 | -3.2% |
| Distributable reserves | 133 | €144,560 | €144,560 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,556 | -€34,577 | -€78,133 | |
| Provisions and deferred taxes | 16 | €44,753 | €43,328 | -€1,425 | -3.2% |
| Deferred taxes | 168 | €44,753 | €43,328 | -€1,425 | -3.2% |
| Amounts payable | 17/49 | €1,850,615 | €2,538,569 | +€687,954 | +37.2% |
| Amounts payable after more than one year | 17 | €1,173,489 | €1,263,983 | +€90,494 | +7.7% |
| Financial debts | 170/4 | €1,146,862 | €1,238,590 | +€91,728 | +8.0% |
| Other amounts payable | 178/9 | €26,627 | €25,393 | -€1,234 | -4.6% |
| Amounts payable within one year | 42/48 | €672,928 | €1,271,567 | +€598,638 | +89.0% |
| Current portion of amounts payable after more than one year | 42 | €118,510 | €140,770 | +€22,260 | +18.8% |
| Financial debts | 43 | €65,130 | €70,752 | +€5,623 | +8.6% |
| Credit institutions | 430/8 | €65,130 | €70,752 | +€5,623 | +8.6% |
| Trade debts | 44 | €30,030 | €78,689 | +€48,660 | +162% |
| Suppliers | 440/4 | €30,030 | €78,689 | +€48,660 | +162% |
| Taxes, remuneration and social security | 45 | €17,174 | €818 | -€16,356 | -95.2% |
| Taxes | 450/3 | €17,174 | €818 | -€16,356 | -95.2% |
| Other amounts payable | 47/48 | €442,085 | €980,537 | +€538,452 | +122% |
| Accrued charges and deferred income | 492/3 | €4,199 | €3,020 | -€1,179 | -28.1% |
| Remuneration, social security and pensions | 62 | - | €2,211 | +€2,211 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,869 | €111,380 | -€11,488 | -9.4% |
| Other operating charges | 640/8 | €12,265 | €11,216 | -€1,049 | -8.6% |
| Non-recurring operating charges | 66A | - | €9,396 | +€9,396 | |
| Gross operating margin | 9900 | €218,945 | €104,762 | -€114,182 | -52.2% |
| Operating profit (loss) | 9901 | €83,812 | -€29,441 | -€113,252 | |
| Financial income | 75/76B | €13,870 | €13,848 | -€21 | -0.2% |
| Recurring financial income | 75 | €13,870 | €13,848 | -€21 | -0.2% |
| Financial charges | 65/66B | €95,982 | €68,011 | -€27,971 | -29.1% |
| Recurring financial charges | 65 | €95,982 | €68,011 | -€27,971 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €1,699 | -€83,603 | -€85,302 | |
| Transfer from deferred taxes | 780 | €1,425 | €1,425 | = | 0.0% |
| Income taxes | 67/77 | €2,657 | €229 | -€2,428 | -91.4% |
| Profit (loss) for the period | 9904 | €467 | -€82,407 | -€82,874 | |
| Transfer from tax-exempt reserves | 789 | €4,274 | €4,274 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,741 | -€78,133 | -€82,874 |
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 31 October 2026 via checked.be.