BRUYNSEELS IVAN: 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.
BRUYNSEELS IVAN
Largest movements
- Receivables within one year -€7,528
down €7,528 (-9.1%), from €82,840 to €75,312
of which Other amounts receivable: -€5,560
- Stocks and contracts -€4,365
down €4,365 (-100%), from €4,365 to €0
- Cash -€2,973
down €2,973 (-36.3%), from €8,199 to €5,226
mainly Trade debts (-€12,581) and Net result for the year (-€6,074)
- Tangible fixed assets -€1,642
down €1,642 (-5.5%), from €29,675 to €28,033
of which Land and buildings: -€1,394
- Trade debts -€12,581
down €12,581 (-66.4%), from €18,947 to €6,366
- Profit (loss) carried forward -€6,074
down €6,074 (-75.7%), from -€8,029 to -€14,103
- Other debts +€2,856
new in 2025: €2,856
- Staff costs -€19,580
down €19,580 (-74.6%), from €26,246 to €6,666
- Gross operating margin -€15,601
down €15,601 (-69.1%), from €22,592 to €6,991
- Other operating charges +€2,572
up €2,572 (+414%), from €621 to €3,193
- Depreciation -€835
down €835 (-33.7%), from €2,477 to €1,642
- Financial income -€428
down €428 (-93.0%), from €461 to €32
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 | €125,684 | €109,178 | -€16,506 | -13.1% |
| Fixed assets | 21/28 | €30,182 | €28,541 | -€1,642 | -5.4% |
| Tangible fixed assets | 22/27 | €29,675 | €28,033 | -€1,642 | -5.5% |
| Land and buildings | 22 | €28,931 | €27,537 | -€1,394 | -4.8% |
| Plant, machinery and equipment | 23 | €744 | €496 | -€248 | -33.3% |
| Financial fixed assets | 28 | €507 | €507 | = | 0.0% |
| Current assets | 29/58 | €95,501 | €80,638 | -€14,864 | -15.6% |
| Stocks and contracts in progress | 3 | €4,365 | €0 | -€4,365 | -100% |
| Stocks | 30/36 | €4,365 | €0 | -€4,365 | -100% |
| Amounts receivable within one year | 40/41 | €82,840 | €75,312 | -€7,528 | -9.1% |
| Trade receivables | 40 | €69,215 | €67,247 | -€1,968 | -2.8% |
| Other amounts receivable | 41 | €13,625 | €8,065 | -€5,560 | -40.8% |
| Cash at bank and in hand | 54/58 | €8,199 | €5,226 | -€2,973 | -36.3% |
| Deferred charges and accrued income | 490/1 | €98 | €100 | +€2 | +2.0% |
| Total equity and liabilities | 10/49 | €125,684 | €109,178 | -€16,506 | -13.1% |
| Equity | 10/15 | €103,931 | €97,857 | -€6,074 | -5.8% |
| Reserves | 13 | €111,960 | €111,960 | = | 0.0% |
| Distributable reserves | 133 | €111,960 | €111,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,029 | -€14,103 | -€6,074 | -75.7% |
| Amounts payable | 17/49 | €21,752 | €11,321 | -€10,432 | -48.0% |
| Amounts payable within one year | 42/48 | €21,752 | €11,321 | -€10,432 | -48.0% |
| Current portion of amounts payable after more than one year | 42 | €1,228 | €1,378 | +€150 | +12.2% |
| Trade debts | 44 | €18,947 | €6,366 | -€12,581 | -66.4% |
| Suppliers | 440/4 | €18,947 | €6,366 | -€12,581 | -66.4% |
| Advances received on contracts in progress | 46 | - | €314 | +€314 | |
| Taxes, remuneration and social security | 45 | €1,578 | €408 | -€1,170 | -74.1% |
| Remuneration and social security | 454/9 | €1,578 | €408 | -€1,170 | -74.1% |
| Other amounts payable | 47/48 | - | €2,856 | +€2,856 | |
| Remuneration, social security and pensions | 62 | €26,246 | €6,666 | -€19,580 | -74.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,477 | €1,642 | -€835 | -33.7% |
| Other operating charges | 640/8 | €621 | €3,193 | +€2,572 | +414% |
| Gross operating margin | 9900 | €22,592 | €6,991 | -€15,601 | -69.1% |
| Operating profit (loss) | 9901 | -€6,752 | -€4,510 | +€2,242 | +33.2% |
| Financial income | 75/76B | €461 | €32 | -€428 | -93.0% |
| Recurring financial income | 75 | €461 | €32 | -€428 | -93.0% |
| Financial charges | 65/66B | €1,270 | €1,103 | -€166 | -13.1% |
| Recurring financial charges | 65 | €1,270 | €1,103 | -€166 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,561 | -€5,581 | +€1,979 | +26.2% |
| Income taxes | 67/77 | €468 | €493 | +€25 | +5.3% |
| Profit (loss) for the period | 9904 | -€8,029 | -€6,074 | +€1,955 | +24.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,029 | -€6,074 | +€1,955 | +24.3% |
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 19 October 2026 via checked.be.