BRUYNEEL PERFORMANCE 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.
BRUYNEEL PERFORMANCE MANAGEMENT
Largest movements
- Receivables within one year +€382,464
up €382,464 (+25.9%), from €1.5m to €1.9m
of which Other amounts receivable: +€350,822
- Tangible fixed assets +€156,333
up €156,333 (+11.0%), from €1.4m to €1.6m
of which Assets under construction and advance payments: +€216,526
- Current investments +€125,000
up €125,000 (+33.3%), from €375,000 to €500,000
- Cash -€102,832
down €102,832 (-27.4%), from €375,138 to €272,305
mainly Receivables within one year (-€382,464) and Investment in fixed assets (net) (-€208,640)
- Reserves +€751,062
up €751,062 (+33.8%), from €2.2m to €3.0m
of which Distributable reserves: +€751,062
- Other debts -€89,567
down €89,567 (-43.9%), from €203,974 to €114,408
- Debts after one year -€79,254
down €79,254 (-7.1%), from €1.1m to €1.0m
of which Financial debts: -€93,004
- Gross operating margin +€320,512
up €320,512 (+30.9%), from €1.0m to €1.4m
- Taxes +€111,417
up €111,417 (+33.7%), from €331,017 to €442,435
- Other operating charges +€17,078
up €17,078 (+460%), from €3,713 to €20,791
- Financial income +€14,329
up €14,329 (+18.5%), from €77,264 to €91,593
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 | €3,798,506 | €4,357,552 | +€559,046 | +14.7% |
| Fixed assets | 21/28 | €1,419,477 | €1,575,810 | +€156,333 | +11.0% |
| Tangible fixed assets | 22/27 | €1,417,928 | €1,574,261 | +€156,333 | +11.0% |
| Land and buildings | 22 | €950,541 | €933,488 | -€17,053 | -1.8% |
| Plant, machinery and equipment | 23 | €4,393 | €1,463 | -€2,931 | -66.7% |
| Furniture and vehicles | 24 | €64,147 | €40,794 | -€23,353 | -36.4% |
| Other tangible fixed assets | 26 | €16,856 | €0 | -€16,856 | -100% |
| Assets under construction and advance payments | 27 | €381,990 | €598,516 | +€216,526 | +56.7% |
| Financial fixed assets | 28 | €1,549 | €1,549 | = | 0.0% |
| Current assets | 29/58 | €2,379,029 | €2,781,742 | +€402,714 | +16.9% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,474,139 | €1,856,603 | +€382,464 | +25.9% |
| Trade receivables | 40 | €9,179 | €40,821 | +€31,642 | +345% |
| Other amounts receivable | 41 | €1,464,960 | €1,815,782 | +€350,822 | +23.9% |
| Current investments | 50/53 | €375,000 | €500,000 | +€125,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €375,138 | €272,305 | -€102,832 | -27.4% |
| Deferred charges and accrued income | 490/1 | €4,752 | €2,834 | -€1,918 | -40.4% |
| Total equity and liabilities | 10/49 | €3,798,506 | €4,357,552 | +€559,046 | +14.7% |
| Equity | 10/15 | €2,241,425 | €2,992,488 | +€751,062 | +33.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,222,875 | €2,973,938 | +€751,062 | +33.8% |
| Tax-exempt reserves | 132 | €12,124 | €12,124 | = | 0.0% |
| Distributable reserves | 133 | €2,210,751 | €2,961,813 | +€751,062 | +34.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,557,081 | €1,365,065 | -€192,016 | -12.3% |
| Amounts payable after more than one year | 17 | €1,120,492 | €1,041,239 | -€79,254 | -7.1% |
| Financial debts | 170/4 | €295,057 | €202,054 | -€93,004 | -31.5% |
| Other amounts payable | 178/9 | €825,435 | €839,185 | +€13,750 | +1.7% |
| Amounts payable within one year | 42/48 | €404,299 | €289,993 | -€114,306 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €103,229 | €93,004 | -€10,226 | -9.9% |
| Financial debts | 43 | €856 | €280 | -€577 | -67.3% |
| Credit institutions | 430/8 | €856 | €280 | -€577 | -67.3% |
| Trade debts | 44 | €17,268 | €5,002 | -€12,267 | -71.0% |
| Suppliers | 440/4 | €17,268 | €5,002 | -€12,267 | -71.0% |
| Taxes, remuneration and social security | 45 | €78,971 | €77,301 | -€1,670 | -2.1% |
| Taxes | 450/3 | €78,971 | €77,301 | -€1,670 | -2.1% |
| Other amounts payable | 47/48 | €203,974 | €114,408 | -€89,567 | -43.9% |
| Accrued charges and deferred income | 492/3 | €32,290 | €33,833 | +€1,543 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,468 | €52,308 | -€3,161 | -5.7% |
| Other operating charges | 640/8 | €3,713 | €20,791 | +€17,078 | +460% |
| Gross operating margin | 9900 | €1,038,683 | €1,359,195 | +€320,512 | +30.9% |
| Operating profit (loss) | 9901 | €979,502 | €1,286,096 | +€306,594 | +31.3% |
| Financial income | 75/76B | €77,264 | €91,593 | +€14,329 | +18.5% |
| Recurring financial income | 75 | €77,264 | €91,593 | +€14,329 | +18.5% |
| Financial charges | 65/66B | €35,522 | €43,811 | +€8,289 | +23.3% |
| Recurring financial charges | 65 | €35,522 | €43,811 | +€8,289 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €1,021,244 | €1,333,878 | +€312,634 | +30.6% |
| Income taxes | 67/77 | €331,017 | €442,435 | +€111,417 | +33.7% |
| Profit (loss) for the period | 9904 | €690,226 | €891,443 | +€201,217 | +29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €690,226 | €891,443 | +€201,217 | +29.2% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.