BRUVINVEST: 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.
BRUVINVEST
Largest movements
- Deferred charges and accrued income +€627,472
up €627,472 (+564%), from €111,259 to €738,731
- Tangible fixed assets -€342,172
down €342,172 (-9.2%), from €3.7m to €3.4m
of which Land and buildings: -€379,949
- Cash +€223,089
up €223,089 (+78.4%), from €284,470 to €507,559
mainly Depreciation (+€395,256) and Debts after one year (+€371,185)
- Debts after one year +€371,185
up €371,185 (+26.2%), from €1.4m to €1.8m
- Trade debts -€126,122
down €126,122 (-70.7%), from €178,465 to €52,343
- Reserves +€123,398
up €123,398 (+11.2%), from €1.1m to €1.2m
of which Distributable reserves: +€116,898
- Current portion of long-term debt +€99,847
up €99,847 (+26.5%), from €377,368 to €477,216
- Financial charges +€21,004
up €21,004 (+72.0%), from €29,155 to €50,159
- Taxes -€14,684
down €14,684 (-21.0%), from €69,792 to €55,109
- Financial income -€13,593
down €13,593 (-13.6%), from €100,203 to €86,609
- Gross operating margin -€7,400
down €7,400 (-1.0%), from €731,554 to €724,154
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 | €6,139,228 | €6,707,669 | +€568,441 | +9.3% |
| Fixed assets | 21/28 | €3,758,008 | €3,420,884 | -€337,125 | -9.0% |
| Tangible fixed assets | 22/27 | €3,731,656 | €3,389,484 | -€342,172 | -9.2% |
| Land and buildings | 22 | €3,659,603 | €3,279,654 | -€379,949 | -10.4% |
| Plant, machinery and equipment | 23 | €28,927 | €77,256 | +€48,329 | +167% |
| Furniture and vehicles | 24 | €15,737 | €11,835 | -€3,902 | -24.8% |
| Other tangible fixed assets | 26 | €27,389 | €20,740 | -€6,649 | -24.3% |
| Financial fixed assets | 28 | €26,353 | €31,400 | +€5,047 | +19.2% |
| Current assets | 29/58 | €2,381,220 | €3,286,786 | +€905,566 | +38.0% |
| Amounts receivable within one year | 40/41 | €1,985,491 | €2,040,496 | +€55,004 | +2.8% |
| Trade receivables | 40 | €54,830 | €23,225 | -€31,605 | -57.6% |
| Other amounts receivable | 41 | €1,930,661 | €2,017,270 | +€86,609 | +4.5% |
| Cash at bank and in hand | 54/58 | €284,470 | €507,559 | +€223,089 | +78.4% |
| Deferred charges and accrued income | 490/1 | €111,259 | €738,731 | +€627,472 | +564% |
| Total equity and liabilities | 10/49 | €6,139,228 | €6,707,669 | +€568,441 | +9.3% |
| Equity | 10/15 | €4,002,556 | €4,125,954 | +€123,398 | +3.1% |
| Contributions | 10/11 | €2,900,000 | €2,900,000 | = | 0.0% |
| Capital | 10 | €2,900,000 | €2,900,000 | = | 0.0% |
| Issued capital | 100 | €2,900,000 | €2,900,000 | = | 0.0% |
| Reserves | 13 | €1,102,556 | €1,225,954 | +€123,398 | +11.2% |
| Non-distributable reserves | 130/1 | €133,906 | €140,406 | +€6,500 | +4.9% |
| Legal reserve | 130 | €133,906 | €140,406 | +€6,500 | +4.9% |
| Distributable reserves | 133 | €968,650 | €1,085,548 | +€116,898 | +12.1% |
| Amounts payable | 17/49 | €2,136,672 | €2,581,715 | +€445,043 | +20.8% |
| Amounts payable after more than one year | 17 | €1,415,132 | €1,786,317 | +€371,185 | +26.2% |
| Financial debts | 170/4 | €1,415,132 | €1,786,317 | +€371,185 | +26.2% |
| Amounts payable within one year | 42/48 | €626,590 | €654,460 | +€27,870 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €377,368 | €477,216 | +€99,847 | +26.5% |
| Trade debts | 44 | €178,465 | €52,343 | -€126,122 | -70.7% |
| Suppliers | 440/4 | €178,465 | €52,343 | -€126,122 | -70.7% |
| Taxes, remuneration and social security | 45 | €70,756 | €124,901 | +€54,145 | +76.5% |
| Taxes | 450/3 | €70,756 | €124,901 | +€54,145 | +76.5% |
| Accrued charges and deferred income | 492/3 | €94,951 | €140,938 | +€45,987 | +48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €391,590 | €395,256 | +€3,666 | +0.9% |
| Other operating charges | 640/8 | €182,232 | €186,842 | +€4,610 | +2.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €731,554 | €724,154 | -€7,400 | -1.0% |
| Operating profit (loss) | 9901 | €157,732 | €142,056 | -€15,676 | -9.9% |
| Financial income | 75/76B | €100,203 | €86,609 | -€13,593 | -13.6% |
| Recurring financial income | 75 | €100,203 | €86,609 | -€13,593 | -13.6% |
| Financial charges | 65/66B | €29,155 | €50,159 | +€21,004 | +72.0% |
| Recurring financial charges | 65 | €29,155 | €50,159 | +€21,004 | +72.0% |
| Profit (loss) for the period before taxes | 9903 | €228,779 | €178,506 | -€50,273 | -22.0% |
| Income taxes | 67/77 | €69,792 | €55,109 | -€14,684 | -21.0% |
| Profit (loss) for the period | 9904 | €158,987 | €123,398 | -€35,589 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €158,987 | €123,398 | -€35,589 | -22.4% |
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 17 October 2026 via checked.be.