Brutus & Co: 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.
Brutus & Co
Largest movements
- Current investments -€2.8m
down €2.8m (-82.2%), from €3.4m to €602,500
- Cash +€910,761
up €910,761 (+5,922%), from €15,379 to €926,140
mainly Current investments (+€2.8m) and Receivables within one year (+€376,043)
- Receivables within one year -€376,043
down €376,043 (-60.8%), from €618,872 to €242,829
of which Other amounts receivable: -€289,286
- Financial fixed assets -€230,334
down €230,334 (-20.5%), from €1.1m to €894,666
- Tangible fixed assets +€95,835
up €95,835, from €0 to €95,835
of which Furniture and vehicles: +€95,835
- Profit (loss) carried forward -€895,498
down €895,498 (-50.0%), from €1.8m to €894,394
- Reserves -€862,079
down €862,079 (-50.0%), from €1.7m to €862,078
- Other debts -€562,094
down €562,094 (-45.6%), from €1.2m to €670,739
- Tax, wage and social debts -€73,700
down €73,700 (-22.6%), from €325,679 to €251,979
- Financial income -€730,258
down €730,258 (-97.0%), from €752,828 to €22,570
- Taxes -€240,371
down €240,371 (-99.9%), from €240,679 to €308
- Gross operating margin -€18,817
down €18,817 (-582%), from -€3,231 to -€22,048
- Other operating charges -€3,055
down €3,055 (-86.6%), from €3,527 to €472
- Financial charges -€993
down €993 (-80.5%), from €1,234 to €241
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 | €5,161,598 | €2,761,970 | -€2.4m | -46.5% |
| Fixed assets | 21/28 | €1,125,000 | €990,501 | -€134,499 | -12.0% |
| Tangible fixed assets | 22/27 | €0 | €95,835 | +€95,835 | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €95,835 | +€95,835 | |
| Financial fixed assets | 28 | €1,125,000 | €894,666 | -€230,334 | -20.5% |
| Current assets | 29/58 | €4,036,598 | €1,771,469 | -€2.3m | -56.1% |
| Amounts receivable within one year | 40/41 | €618,872 | €242,829 | -€376,043 | -60.8% |
| Trade receivables | 40 | €86,757 | - | -€86,757 | |
| Other amounts receivable | 41 | €532,115 | €242,829 | -€289,286 | -54.4% |
| Current investments | 50/53 | €3,390,000 | €602,500 | -€2.8m | -82.2% |
| Cash at bank and in hand | 54/58 | €15,379 | €926,140 | +€910,761 | +5,922% |
| Deferred charges and accrued income | 490/1 | €12,348 | - | -€12,348 | |
| Total equity and liabilities | 10/49 | €5,161,598 | €2,761,970 | -€2.4m | -46.5% |
| Equity | 10/15 | €3,532,648 | €1,765,772 | -€1.8m | -50.0% |
| Contributions | 10/11 | €18,600 | €9,300 | -€9,300 | -50.0% |
| Reserves | 13 | €1,724,157 | €862,078 | -€862,079 | -50.0% |
| Distributable reserves | 133 | €1,724,157 | €862,078 | -€862,079 | -50.0% |
| Profit (loss) carried forward | 14 | €1,789,892 | €894,394 | -€895,498 | -50.0% |
| Provisions and deferred taxes | 16 | €70,342 | €70,342 | +€0 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €70,342 | €70,342 | +€0 | 0.0% |
| Pensions and similar obligations | 160 | €70,342 | €70,342 | +€0 | 0.0% |
| Amounts payable | 17/49 | €1,558,609 | €925,856 | -€632,753 | -40.6% |
| Amounts payable within one year | 42/48 | €1,558,609 | €925,856 | -€632,753 | -40.6% |
| Trade debts | 44 | €98 | €3,138 | +€3,041 | +3,118% |
| Suppliers | 440/4 | €98 | €3,138 | +€3,041 | +3,118% |
| Taxes, remuneration and social security | 45 | €325,679 | €251,979 | -€73,700 | -22.6% |
| Taxes | 450/3 | €325,679 | €251,979 | -€73,700 | -22.6% |
| Other amounts payable | 47/48 | €1,232,833 | €670,739 | -€562,094 | -45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €52 | +€52 | |
| Other operating charges | 640/8 | €3,527 | €472 | -€3,055 | -86.6% |
| Gross operating margin | 9900 | -€3,231 | -€22,048 | -€18,817 | -582% |
| Operating profit (loss) | 9901 | -€6,759 | -€22,572 | -€15,814 | -234% |
| Financial income | 75/76B | €752,828 | €22,570 | -€730,258 | -97.0% |
| Recurring financial income | 75 | €752,828 | €22,570 | -€730,258 | -97.0% |
| Financial charges | 65/66B | €1,234 | €241 | -€993 | -80.5% |
| Recurring financial charges | 65 | €1,234 | €241 | -€993 | -80.5% |
| Profit (loss) for the period before taxes | 9903 | €744,835 | -€243 | -€745,078 | |
| Income taxes | 67/77 | €240,679 | €308 | -€240,371 | -99.9% |
| Profit (loss) for the period | 9904 | €504,157 | -€551 | -€504,708 | |
| Profit (loss) for the period to be appropriated | 9905 | €504,157 | -€551 | -€504,708 |
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 29 October 2026 via checked.be.