BRUT: 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.
BRUT
Largest movements
- Tangible fixed assets +€24,068
up €24,068 (+31.0%), from €77,521 to €101,589
of which Furniture and vehicles: +€23,313
- Cash -€12,589
down €12,589 (-71.8%), from €17,527 to €4,939
mainly Investment in fixed assets (net) (-€58,785) and Other debts (-€23,253)
- Short-term financial debts +€25,000
new in 2025: €25,000
- Other debts -€23,253
down €23,253 (-21.7%), from €107,140 to €83,887
- Debts after one year +€14,396
up €14,396 (+65.3%), from €22,054 to €36,449
- Trade debts -€5,964
down €5,964 (-17.9%), from €33,381 to €27,417
- Current portion of long-term debt +€3,911
up €3,911 (+27.1%), from €14,410 to €18,321
- Depreciation +€11,250
up €11,250 (+47.9%), from €23,467 to €34,716
- Other operating charges -€4,159
down €4,159 (-32.8%), from €12,680 to €8,521
- Financial charges -€1,944
down €1,944 (-35.6%), from €5,467 to €3,523
- Gross operating margin +€1,521
up €1,521 (+3.2%), from €47,901 to €49,422
- Taxes -€1,244
down €1,244 (-27.1%), from €4,596 to €3,352
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 | €234,865 | €245,879 | +€11,014 | +4.7% |
| Fixed assets | 21/28 | €77,521 | €101,589 | +€24,068 | +31.0% |
| Tangible fixed assets | 22/27 | €77,521 | €101,589 | +€24,068 | +31.0% |
| Plant, machinery and equipment | 23 | €1,714 | €8,704 | +€6,990 | +408% |
| Furniture and vehicles | 24 | €63,885 | €87,198 | +€23,313 | +36.5% |
| Leasing and similar rights | 25 | €10,543 | €3,965 | -€6,578 | -62.4% |
| Other tangible fixed assets | 26 | €1,378 | €1,722 | +€343 | +24.9% |
| Current assets | 29/58 | €157,345 | €144,291 | -€13,054 | -8.3% |
| Stocks and contracts in progress | 3 | €126,619 | €126,004 | -€615 | -0.5% |
| Stocks | 30/36 | €126,619 | €126,004 | -€615 | -0.5% |
| Amounts receivable within one year | 40/41 | €12,409 | €12,531 | +€122 | +1.0% |
| Trade receivables | 40 | €11,633 | €11,754 | +€122 | +1.0% |
| Other amounts receivable | 41 | €776 | €776 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,527 | €4,939 | -€12,589 | -71.8% |
| Deferred charges and accrued income | 490/1 | €789 | €818 | +€28 | +3.6% |
| Total equity and liabilities | 10/49 | €234,865 | €245,879 | +€11,014 | +4.7% |
| Equity | 10/15 | €43,320 | €42,650 | -€671 | -1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,720 | €24,720 | = | 0.0% |
| Distributable reserves | 133 | €24,720 | €24,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€671 | -€671 | |
| Amounts payable | 17/49 | €191,545 | €203,230 | +€11,685 | +6.1% |
| Amounts payable after more than one year | 17 | €22,054 | €36,449 | +€14,396 | +65.3% |
| Financial debts | 170/4 | €22,054 | €36,449 | +€14,396 | +65.3% |
| Amounts payable within one year | 42/48 | €169,491 | €166,761 | -€2,731 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €14,410 | €18,321 | +€3,911 | +27.1% |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €33,381 | €27,417 | -€5,964 | -17.9% |
| Suppliers | 440/4 | €33,381 | €27,417 | -€5,964 | -17.9% |
| Taxes, remuneration and social security | 45 | €14,561 | €12,136 | -€2,425 | -16.7% |
| Taxes | 450/3 | €14,561 | €12,136 | -€2,425 | -16.7% |
| Other amounts payable | 47/48 | €107,140 | €83,887 | -€23,253 | -21.7% |
| Accrued charges and deferred income | 492/3 | - | €20 | +€20 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,467 | €34,716 | +€11,250 | +47.9% |
| Other operating charges | 640/8 | €12,680 | €8,521 | -€4,159 | -32.8% |
| Gross operating margin | 9900 | €47,901 | €49,422 | +€1,521 | +3.2% |
| Operating profit (loss) | 9901 | €11,754 | €6,185 | -€5,570 | -47.4% |
| Financial income | 75/76B | €29 | €19 | -€10 | -33.9% |
| Recurring financial income | 75 | €29 | €19 | -€10 | -33.9% |
| Financial charges | 65/66B | €5,467 | €3,523 | -€1,944 | -35.6% |
| Recurring financial charges | 65 | €5,467 | €3,523 | -€1,944 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €6,317 | €2,681 | -€3,635 | -57.6% |
| Income taxes | 67/77 | €4,596 | €3,352 | -€1,244 | -27.1% |
| Profit (loss) for the period | 9904 | €1,720 | -€671 | -€2,391 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,720 | -€671 | -€2,391 |
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 16 October 2026 via checked.be.