BRUYNEEL: 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.
BRUYNEEL
Largest movements
- Current investments +€1.8m
up €1.8m (+560%), from €324,447 to €2.1m
- Cash -€1.7m
down €1.7m (-88.4%), from €2.0m to €228,838
mainly Current investments (-€1.8m) and Trade debts (-€105,082)
- Receivables within one year -€115,946
down €115,946 (-96.6%), from €120,061 to €4,115
of which Trade receivables: -€113,194
- Trade debts -€105,082
down €105,082 (-67.9%), from €154,657 to €49,574
of which Suppliers: -€105,082
- Reserves +€55,394
up €55,394 (+2.1%), from €2.6m to €2.7m
- Staff costs -€62,564
down €62,564 (-99.9%), from €62,654 to €90
- Gross operating margin +€59,096
up €59,096 (+150%), from €39,363 to €98,459
- Financial income -€29,244
down €29,244 (-50.8%), from €57,621 to €28,376
- Taxes +€22,619
new in 2025: €22,619
- Depreciation -€5,179
down €5,179 (-17.2%), from €30,097 to €24,918
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 | €3,363,526 | €3,327,596 | -€35,930 | -1.1% |
| Fixed assets | 21/28 | €946,762 | €921,844 | -€24,918 | -2.6% |
| Tangible fixed assets | 22/27 | €946,762 | €921,844 | -€24,918 | -2.6% |
| Land and buildings | 22 | €916,725 | €916,725 | = | 0.0% |
| Plant, machinery and equipment | 23 | €17,212 | €5,119 | -€12,093 | -70.3% |
| Furniture and vehicles | 24 | €12,825 | €0 | -€12,825 | -100% |
| Current assets | 29/58 | €2,416,765 | €2,405,753 | -€11,012 | -0.5% |
| Stocks and contracts in progress | 3 | €750 | €750 | = | 0.0% |
| Stocks | 30/36 | €750 | €750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €120,061 | €4,115 | -€115,946 | -96.6% |
| Trade receivables | 40 | €114,631 | €1,437 | -€113,194 | -98.7% |
| Other amounts receivable | 41 | €5,430 | €2,677 | -€2,752 | -50.7% |
| Current investments | 50/53 | €324,447 | €2,141,538 | +€1.8m | +560% |
| Cash at bank and in hand | 54/58 | €1,969,631 | €228,838 | -€1.7m | -88.4% |
| Deferred charges and accrued income | 490/1 | €1,876 | €30,512 | +€28,636 | +1,526% |
| Total equity and liabilities | 10/49 | €3,363,526 | €3,327,596 | -€35,930 | -1.1% |
| Equity | 10/15 | €3,126,885 | €3,182,279 | +€55,394 | +1.8% |
| Contributions | 10/11 | €490,000 | €490,000 | = | 0.0% |
| Reserves | 13 | €2,636,885 | €2,692,279 | +€55,394 | +2.1% |
| Distributable reserves | 133 | €2,636,885 | €2,692,279 | +€55,394 | +2.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €236,641 | €145,318 | -€91,324 | -38.6% |
| Amounts payable within one year | 42/48 | €236,641 | €145,318 | -€91,324 | -38.6% |
| Trade debts | 44 | €154,657 | €49,574 | -€105,082 | -67.9% |
| Suppliers | 440/4 | €154,657 | €49,574 | -€105,082 | -67.9% |
| Bills of exchange payable | 441 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €11,817 | €3,326 | -€8,491 | -71.9% |
| Taxes | 450/3 | €7,020 | €3,326 | -€3,694 | -52.6% |
| Remuneration and social security | 454/9 | €4,798 | €0 | -€4,798 | -100% |
| Other amounts payable | 47/48 | €70,167 | €92,417 | +€22,250 | +31.7% |
| Remuneration, social security and pensions | 62 | €62,654 | €90 | -€62,564 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,097 | €24,918 | -€5,179 | -17.2% |
| Other operating charges | 640/8 | €15,190 | €14,399 | -€791 | -5.2% |
| Non-recurring operating charges | 66A | €4,669 | - | -€4,669 | |
| Gross operating margin | 9900 | €39,363 | €98,459 | +€59,096 | +150% |
| Operating profit (loss) | 9901 | -€73,247 | €59,052 | +€132,299 | |
| Financial income | 75/76B | €57,621 | €28,376 | -€29,244 | -50.8% |
| Recurring financial income | 75 | €57,621 | €28,376 | -€29,244 | -50.8% |
| Financial charges | 65/66B | €7,131 | €7,750 | +€619 | +8.7% |
| Recurring financial charges | 65 | €7,131 | €7,750 | +€619 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | -€22,758 | €79,678 | +€102,436 | |
| Income taxes | 67/77 | - | €22,619 | +€22,619 | |
| Profit (loss) for the period | 9904 | -€22,758 | €57,060 | +€79,817 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,758 | €57,060 | +€79,817 |
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 14 October 2026 via checked.be.