BRUYNSEELS PROJECTS: 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 PROJECTS
Largest movements
- Cash +€298,764
up €298,764 (+1,104%), from €27,064 to €325,828
mainly Trade debts (+€157,561) and Debts after one year (+€101,364)
- Stocks and contracts +€176,390
up €176,390 (+3,640%), from €4,846 to €181,236
- Tangible fixed assets -€57,812
down €57,812 (-13.1%), from €440,012 to €382,200
of which Plant, machinery and equipment: -€55,518
- Trade debts +€157,561
up €157,561 (+361%), from €43,590 to €201,151
- Debts after one year +€101,364
up €101,364 (+54.8%), from €185,102 to €286,466
- Reserves +€80,397
up €80,397 (+4,322%), from €1,860 to €82,257
of which Distributable reserves: +€82,257
- Short-term financial debts +€60,000
new in 2025: €60,000
- Tax, wage and social debts +€39,737
up €39,737 (+122%), from €32,698 to €72,435
of which Taxes: +€39,708
- Gross operating margin +€66,334
up €66,334 (+42.6%), from €155,594 to €221,928
- Taxes +€21,784
up €21,784 (+154%), from €14,175 to €35,959
- Financial income +€9,434
up €9,434 (+94.8%), from €9,954 to €19,388
- Staff costs +€8,681
up €8,681 (+23.0%), from €37,759 to €46,440
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 | €621,809 | €1,035,071 | +€413,262 | +66.5% |
| Fixed assets | 21/28 | €441,012 | €383,200 | -€57,812 | -13.1% |
| Tangible fixed assets | 22/27 | €440,012 | €382,200 | -€57,812 | -13.1% |
| Land and buildings | 22 | €129,304 | €125,306 | -€3,998 | -3.1% |
| Plant, machinery and equipment | 23 | €286,173 | €230,655 | -€55,518 | -19.4% |
| Furniture and vehicles | 24 | €24,535 | €26,239 | +€1,704 | +6.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €180,797 | €651,871 | +€471,074 | +261% |
| Stocks and contracts in progress | 3 | €4,846 | €181,236 | +€176,390 | +3,640% |
| Stocks | 30/36 | €4,846 | €181,236 | +€176,390 | +3,640% |
| Amounts receivable within one year | 40/41 | €133,104 | €129,853 | -€3,251 | -2.4% |
| Trade receivables | 40 | €118,771 | €78,354 | -€40,417 | -34.0% |
| Other amounts receivable | 41 | €14,333 | €51,499 | +€37,166 | +259% |
| Cash at bank and in hand | 54/58 | €27,064 | €325,828 | +€298,764 | +1,104% |
| Deferred charges and accrued income | 490/1 | €15,783 | €14,954 | -€829 | -5.3% |
| Total equity and liabilities | 10/49 | €621,809 | €1,035,071 | +€413,262 | +66.5% |
| Equity | 10/15 | €167,517 | €247,914 | +€80,397 | +48.0% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Capital | 10 | €6,500 | - | -€6,500 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,100 | - | -€12,100 | |
| Reserves | 13 | €1,860 | €82,257 | +€80,397 | +4,322% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €82,257 | +€82,257 | |
| Profit (loss) carried forward | 14 | €159,157 | €159,157 | -€0 | 0.0% |
| Amounts payable | 17/49 | €454,292 | €787,158 | +€332,866 | +73.3% |
| Amounts payable after more than one year | 17 | €185,102 | €286,466 | +€101,364 | +54.8% |
| Financial debts | 170/4 | €185,102 | €286,466 | +€101,364 | +54.8% |
| Amounts payable within one year | 42/48 | €267,390 | €500,692 | +€233,302 | +87.3% |
| Current portion of amounts payable after more than one year | 42 | €31,860 | €29,105 | -€2,755 | -8.6% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €43,590 | €201,151 | +€157,561 | +361% |
| Suppliers | 440/4 | €43,590 | €201,151 | +€157,561 | +361% |
| Taxes, remuneration and social security | 45 | €32,698 | €72,435 | +€39,737 | +122% |
| Taxes | 450/3 | €25,819 | €65,527 | +€39,708 | +154% |
| Remuneration and social security | 454/9 | €6,879 | €6,908 | +€29 | +0.4% |
| Other amounts payable | 47/48 | €159,242 | €138,000 | -€21,242 | -13.3% |
| Accrued charges and deferred income | 492/3 | €1,800 | - | -€1,800 | |
| Remuneration, social security and pensions | 62 | €37,759 | €46,440 | +€8,681 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,766 | €70,371 | -€395 | -0.6% |
| Other operating charges | 640/8 | €3,715 | €1,915 | -€1,800 | -48.4% |
| Gross operating margin | 9900 | €155,594 | €221,928 | +€66,334 | +42.6% |
| Operating profit (loss) | 9901 | €43,354 | €103,201 | +€59,847 | +138% |
| Financial income | 75/76B | €9,954 | €19,388 | +€9,434 | +94.8% |
| Recurring financial income | 75 | €9,954 | €19,388 | +€9,434 | +94.8% |
| Financial charges | 65/66B | €4,928 | €6,233 | +€1,305 | +26.5% |
| Recurring financial charges | 65 | €4,928 | €6,233 | +€1,305 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €48,380 | €116,356 | +€67,976 | +141% |
| Income taxes | 67/77 | €14,175 | €35,959 | +€21,784 | +154% |
| Profit (loss) for the period | 9904 | €34,205 | €80,397 | +€46,192 | +135% |
| Profit (loss) for the period to be appropriated | 9905 | €34,205 | €80,397 | +€46,192 | +135% |
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 13 October 2026 via checked.be.