CÉDRIC BRUYNINCKX: 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.
CÉDRIC BRUYNINCKX
Largest movements
- Cash +€21,268
up €21,268 (+49.3%), from €43,176 to €64,445
mainly Advances received (+€17,606) and Net result for the year (+€13,927)
- Receivables within one year +€8,303
up €8,303 (+58.9%), from €14,095 to €22,397
of which Trade receivables: +€8,303
- Advances received +€17,606
new in 2025: €17,606
- Reserves +€13,900
up €13,900 (+36.6%), from €38,000 to €51,900
- Tax, wage and social debts -€8,417
down €8,417 (-52.3%), from €16,100 to €7,683
of which Taxes: -€8,417
- Trade debts +€4,527
up €4,527 (+160%), from €2,821 to €7,348
- Gross operating margin -€19,140
down €19,140 (-47.8%), from €40,048 to €20,908
- Taxes -€4,258
down €4,258 (-50.1%), from €8,500 to €4,242
- Other operating charges +€477
up €477 (+129%), from €371 to €849
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 | €62,665 | €90,987 | +€28,322 | +45.2% |
| Fixed assets | 21/28 | €4,466 | €4,049 | -€417 | -9.3% |
| Tangible fixed assets | 22/27 | €4,466 | €4,049 | -€417 | -9.3% |
| Plant, machinery and equipment | 23 | €3,650 | €2,631 | -€1,019 | -27.9% |
| Furniture and vehicles | 24 | €816 | €1,418 | +€602 | +73.8% |
| Current assets | 29/58 | €58,199 | €86,938 | +€28,738 | +49.4% |
| Amounts receivable within one year | 40/41 | €14,095 | €22,397 | +€8,303 | +58.9% |
| Trade receivables | 40 | €10,210 | €18,512 | +€8,303 | +81.3% |
| Other amounts receivable | 41 | €3,885 | €3,885 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €43,176 | €64,445 | +€21,268 | +49.3% |
| Deferred charges and accrued income | 490/1 | €928 | €96 | -€833 | -89.7% |
| Total equity and liabilities | 10/49 | €62,665 | €90,987 | +€28,322 | +45.2% |
| Equity | 10/15 | €41,059 | €54,986 | +€13,927 | +33.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €38,000 | €51,900 | +€13,900 | +36.6% |
| Distributable reserves | 133 | €38,000 | €51,900 | +€13,900 | +36.6% |
| Profit (loss) carried forward | 14 | €59 | €86 | +€27 | +45.4% |
| Amounts payable | 17/49 | €21,606 | €36,001 | +€14,395 | +66.6% |
| Amounts payable within one year | 42/48 | €21,606 | €36,001 | +€14,395 | +66.6% |
| Trade debts | 44 | €2,821 | €7,348 | +€4,527 | +160% |
| Suppliers | 440/4 | €2,821 | €7,348 | +€4,527 | +160% |
| Advances received on contracts in progress | 46 | - | €17,606 | +€17,606 | |
| Taxes, remuneration and social security | 45 | €16,100 | €7,683 | -€8,417 | -52.3% |
| Taxes | 450/3 | €16,100 | €7,683 | -€8,417 | -52.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,685 | €3,364 | +€679 | +25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,285 | €1,480 | +€195 | +15.1% |
| Other operating charges | 640/8 | €371 | €849 | +€477 | +129% |
| Gross operating margin | 9900 | €40,048 | €20,908 | -€19,140 | -47.8% |
| Operating profit (loss) | 9901 | €38,391 | €18,580 | -€19,812 | -51.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | +42.9% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +42.9% |
| Financial charges | 65/66B | €42 | €411 | +€369 | +884% |
| Recurring financial charges | 65 | €42 | €411 | +€369 | +884% |
| Profit (loss) for the period before taxes | 9903 | €38,350 | €18,169 | -€20,181 | -52.6% |
| Income taxes | 67/77 | €8,500 | €4,242 | -€4,258 | -50.1% |
| Profit (loss) for the period | 9904 | €29,850 | €13,927 | -€15,923 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,850 | €13,927 | -€15,923 | -53.3% |
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 30 October 2026 via checked.be.