BRUYER 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.
BRUYER MANAGEMENT
Largest movements
- Financial fixed assets -€740,789
down €740,789 (-99.8%), from €742,309 to €1,520
- Tangible fixed assets +€545,281
up €545,281 (+63.5%), from €858,369 to €1.4m
of which Land and buildings: +€492,543
- Receivables within one year +€475,122
up €475,122 (+32431.5%), from €1,465 to €476,587
of which Other amounts receivable: +€382,061
- Cash +€175,372
up €175,372 (+3142.9%), from €5,580 to €180,952
mainly Short-term financial debts (+€569,064) and Net result for the year (+€527,629)
- Current investments -€88,878
down €88,878 (-6.1%), from €1.5m to €1.4m
- Other debts -€673,905
no longer reported in 2025 (was €673,905)
- Reserves +€579,063
up €579,063 (+33.7%), from €1.7m to €2.3m
of which Tax-exempt reserves: +€579,063
- Short-term financial debts +€569,064
new in 2025: €569,064
of which Other loans: +€566,272
- Profit (loss) carried forward -€51,434
down €51,434 (-38.4%), from €133,908 to €82,474
- Provisions -€49,679
down €49,679 (-13.0%), from €380,962 to €331,283
- Financial income +€743,529
up €743,529 (+23048.0%), from €3,226 to €746,755
of which Non-recurring financial income: +€728,100
- Purchases and services -€111,452
no longer reported in 2025 (was €111,452)
- Write-downs +€64,935
new in 2025: €64,935
- Depreciation +€44,140
up €44,140 (+116.7%), from €37,828 to €81,968
- Staff costs -€42,991
no longer reported in 2025 (was €42,991)
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 | €3,068,938 | €3,445,015 | +€376,077 | +12.3% |
| Fixed assets | 21/28 | €1,600,678 | €1,405,170 | -€195,508 | -12.2% |
| Tangible fixed assets | 22/27 | €858,369 | €1,403,650 | +€545,281 | +63.5% |
| Land and buildings | 22 | €858,295 | €1,350,838 | +€492,543 | +57.4% |
| Plant, machinery and equipment | 23 | €74 | - | -€74 | |
| Furniture and vehicles | 24 | - | €52,812 | +€52,812 | |
| Financial fixed assets | 28 | €742,309 | €1,520 | -€740,789 | -99.8% |
| Current assets | 29/58 | €1,468,260 | €2,039,845 | +€571,585 | +38.9% |
| Amounts receivable within one year | 40/41 | €1,465 | €476,587 | +€475,122 | +32431.5% |
| Trade receivables | 40 | - | €93,061 | +€93,061 | |
| Other amounts receivable | 41 | €1,465 | €383,526 | +€382,061 | +26079.2% |
| Current investments | 50/53 | €1,451,624 | €1,362,746 | -€88,878 | -6.1% |
| Cash at bank and in hand | 54/58 | €5,580 | €180,952 | +€175,372 | +3142.9% |
| Deferred charges and accrued income | 490/1 | €9,591 | €19,560 | +€9,969 | +103.9% |
| Total equity and liabilities | 10/49 | €3,068,938 | €3,445,015 | +€376,077 | +12.3% |
| Equity | 10/15 | €1,955,284 | €2,482,913 | +€527,629 | +27.0% |
| Contributions | 10/11 | €104,115 | €104,115 | = | 0.0% |
| Capital | 10 | €104,115 | €104,115 | = | 0.0% |
| Issued capital | 100 | €104,115 | €104,115 | = | 0.0% |
| Reserves | 13 | €1,717,261 | €2,296,324 | +€579,063 | +33.7% |
| Non-distributable reserves | 130/1 | €10,412 | €10,412 | = | 0.0% |
| Legal reserve | 130 | €10,412 | €10,412 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,142,886 | €1,721,949 | +€579,063 | +50.7% |
| Distributable reserves | 133 | €563,963 | €563,963 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,908 | €82,474 | -€51,434 | -38.4% |
| Provisions and deferred taxes | 16 | €380,962 | €331,283 | -€49,679 | -13.0% |
| Deferred taxes | 168 | €380,962 | €331,283 | -€49,679 | -13.0% |
| Amounts payable | 17/49 | €732,692 | €630,819 | -€101,873 | -13.9% |
| Amounts payable within one year | 42/48 | €732,692 | €629,820 | -€102,872 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | - | €33,728 | +€33,728 | |
| Financial debts | 43 | - | €569,064 | +€569,064 | |
| Credit institutions | 430/8 | - | €2,792 | +€2,792 | |
| Other loans | 439 | - | €566,272 | +€566,272 | |
| Trade debts | 44 | €55,345 | €27,028 | -€28,317 | -51.2% |
| Suppliers | 440/4 | €55,345 | €27,028 | -€28,317 | -51.2% |
| Taxes, remuneration and social security | 45 | €3,442 | - | -€3,442 | |
| Remuneration and social security | 454/9 | €3,442 | - | -€3,442 | |
| Other amounts payable | 47/48 | €673,905 | - | -€673,905 | |
| Accrued charges and deferred income | 492/3 | - | €999 | +€999 | |
| Turnover | 70 | €46,640 | €61,866 | +€15,226 | +32.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €111,452 | - | -€111,452 | |
| Remuneration, social security and pensions | 62 | €42,991 | - | -€42,991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,828 | €81,968 | +€44,140 | +116.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €64,935 | +€64,935 | |
| Other operating charges | 640/8 | - | €3,195 | +€3,195 | |
| Gross operating margin | 9900 | -€64,812 | -€97,732 | -€32,920 | -50.8% |
| Operating profit (loss) | 9901 | -€145,631 | -€247,830 | -€102,199 | -70.2% |
| Financial income | 75/76B | €3,226 | €746,755 | +€743,529 | +23048.0% |
| Recurring financial income | 75 | €3,226 | €18,655 | +€15,429 | +478.3% |
| Non-recurring financial income | 76B | - | €728,100 | +€728,100 | |
| Financial charges | 65/66B | €3,099 | €20,975 | +€17,876 | +576.8% |
| Recurring financial charges | 65 | €3,099 | €20,975 | +€17,876 | +576.8% |
| Profit (loss) for the period before taxes | 9903 | -€145,504 | €477,950 | +€623,454 | |
| Transfer from deferred taxes | 780 | €34,418 | €49,679 | +€15,261 | +44.3% |
| Profit (loss) for the period | 9904 | -€111,086 | €527,629 | +€638,715 | |
| Transfer from tax-exempt reserves | 789 | €103,254 | €149,037 | +€45,783 | +44.3% |
| Transfer to tax-exempt reserves | 689 | - | €728,100 | +€728,100 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,832 | -€51,434 | -€43,602 | -556.7% |
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.