BRUVAL: 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.
BRUVAL
Largest movements
- Tangible fixed assets -€16,026
down €16,026 (-3.6%), from €450,486 to €434,461
of which Land and buildings: -€16,583
- Cash -€13,331
down €13,331 (-46.7%), from €28,537 to €15,206
mainly Other debts (-€24,348) and Debts after one year (-€13,164)
- Other debts -€24,348
down €24,348 (-25.2%), from €96,567 to €72,219
- Debts after one year -€13,164
down €13,164 (-24.1%), from €54,516 to €41,352
- Reserves +€6,602
up €6,602 (+6.9%), from €95,218 to €101,820
- Gross operating margin +€35,738
up €35,738 (+625.5%), from €5,714 to €41,452
- Other operating charges -€3,902
down €3,902 (-57.8%), from €6,753 to €2,851
- Financial charges -€2,181
down €2,181 (-25.2%), from €8,649 to €6,468
- Depreciation -€1,912
down €1,912 (-7.5%), from €25,388 to €23,476
- Taxes +€1,205
up €1,205 (+141.8%), from €850 to €2,055
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 | €491,370 | €457,750 | -€33,620 | -6.8% |
| Fixed assets | 21/28 | €450,561 | €434,536 | -€16,026 | -3.6% |
| Tangible fixed assets | 22/27 | €450,486 | €434,461 | -€16,026 | -3.6% |
| Land and buildings | 22 | €411,250 | €394,667 | -€16,583 | -4.0% |
| Plant, machinery and equipment | 23 | €35,301 | €38,564 | +€3,263 | +9.2% |
| Furniture and vehicles | 24 | €3,935 | €1,229 | -€2,706 | -68.8% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €40,809 | €23,214 | -€17,594 | -43.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €11,993 | €7,765 | -€4,228 | -35.3% |
| Trade receivables | 40 | €9,340 | €6,710 | -€2,630 | -28.2% |
| Other amounts receivable | 41 | €2,653 | €1,055 | -€1,598 | -60.2% |
| Cash at bank and in hand | 54/58 | €28,537 | €15,206 | -€13,331 | -46.7% |
| Deferred charges and accrued income | 490/1 | €278 | €243 | -€35 | -12.5% |
| Total equity and liabilities | 10/49 | €491,370 | €457,750 | -€33,620 | -6.8% |
| Equity | 10/15 | €300,498 | €307,100 | +€6,602 | +2.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €95,218 | €101,820 | +€6,602 | +6.9% |
| Distributable reserves | 133 | €95,218 | €101,820 | +€6,602 | +6.9% |
| Profit (loss) carried forward | 14 | €5,280 | €5,280 | = | 0.0% |
| Amounts payable | 17/49 | €190,872 | €150,650 | -€40,222 | -21.1% |
| Amounts payable after more than one year | 17 | €54,516 | €41,352 | -€13,164 | -24.1% |
| Financial debts | 170/4 | €54,516 | €41,352 | -€13,164 | -24.1% |
| Amounts payable within one year | 42/48 | €127,398 | €103,878 | -€23,520 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €14,116 | €13,164 | -€952 | -6.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €6,124 | €9,348 | +€3,224 | +52.7% |
| Suppliers | 440/4 | €6,124 | €9,348 | +€3,224 | +52.7% |
| Taxes, remuneration and social security | 45 | €10,592 | €9,147 | -€1,445 | -13.6% |
| Taxes | 450/3 | €7,985 | €7,673 | -€312 | -3.9% |
| Remuneration and social security | 454/9 | €2,606 | €1,474 | -€1,133 | -43.5% |
| Other amounts payable | 47/48 | €96,567 | €72,219 | -€24,348 | -25.2% |
| Accrued charges and deferred income | 492/3 | €8,958 | €5,421 | -€3,538 | -39.5% |
| Non-recurring operating income | 76A | - | €191 | +€191 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,388 | €23,476 | -€1,912 | -7.5% |
| Other operating charges | 640/8 | €6,753 | €2,851 | -€3,902 | -57.8% |
| Gross operating margin | 9900 | €5,714 | €41,452 | +€35,738 | +625.5% |
| Operating profit (loss) | 9901 | -€26,427 | €15,125 | +€41,552 | |
| Financial income | 75/76B | €947 | €0 | -€947 | -100.0% |
| Recurring financial income | 75 | €947 | €0 | -€947 | -100.0% |
| Financial charges | 65/66B | €8,649 | €6,468 | -€2,181 | -25.2% |
| Recurring financial charges | 65 | €8,649 | €6,468 | -€2,181 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | -€34,129 | €8,657 | +€42,786 | |
| Income taxes | 67/77 | €850 | €2,055 | +€1,205 | +141.8% |
| Profit (loss) for the period | 9904 | -€34,979 | €6,602 | +€41,581 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,979 | €6,602 | +€41,581 |
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 11 October 2026 via checked.be.