De Bruyn: 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.
De Bruyn
Largest movements
- Tangible fixed assets +€9,304
up €9,304 (+54.5%), from €17,072 to €26,376
of which Plant, machinery and equipment: +€8,634
- Cash +€3,772
up €3,772 (+7.6%), from €49,794 to €53,566
mainly Depreciation (+€10,778) and Other debts (+€8,498)
- Receivables within one year -€2,169
down €2,169 (-14.9%), from €14,541 to €12,372
- Deferred charges and accrued income +€1,549
up €1,549 (+47.4%), from €3,269 to €4,818
- Other debts +€8,498
up €8,498 (+47.5%), from €17,872 to €26,370
- Trade debts +€6,758
up €6,758 (+65.5%), from €10,324 to €17,081
- Reserves +€5,677
up €5,677 (+24.5%), from €23,135 to €28,812
- Debts after one year -€5,275
no longer reported in 2025 (was €5,275)
- Current portion of long-term debt -€3,582
down €3,582 (-40.4%), from €8,857 to €5,275
- Gross operating margin -€14,780
down €14,780 (-20.1%), from €73,582 to €58,802
- Staff costs -€6,773
down €6,773 (-14.9%), from €45,470 to €38,697
- Financial charges +€1,642
up €1,642 (+148%), from €1,107 to €2,749
- Depreciation +€1,332
up €1,332 (+14.1%), from €9,445 to €10,778
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 | €87,886 | €100,163 | +€12,277 | +14.0% |
| Fixed assets | 21/28 | €17,177 | €26,481 | +€9,304 | +54.2% |
| Tangible fixed assets | 22/27 | €17,072 | €26,376 | +€9,304 | +54.5% |
| Plant, machinery and equipment | 23 | €8,114 | €16,748 | +€8,634 | +106% |
| Other tangible fixed assets | 26 | €8,958 | €9,628 | +€670 | +7.5% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €70,709 | €73,682 | +€2,973 | +4.2% |
| Stocks and contracts in progress | 3 | €3,105 | €2,925 | -€180 | -5.8% |
| Stocks | 30/36 | €3,105 | €2,925 | -€180 | -5.8% |
| Amounts receivable within one year | 40/41 | €14,541 | €12,372 | -€2,169 | -14.9% |
| Other amounts receivable | 41 | €14,541 | €12,372 | -€2,169 | -14.9% |
| Cash at bank and in hand | 54/58 | €49,794 | €53,566 | +€3,772 | +7.6% |
| Deferred charges and accrued income | 490/1 | €3,269 | €4,818 | +€1,549 | +47.4% |
| Total equity and liabilities | 10/49 | €87,886 | €100,163 | +€12,277 | +14.0% |
| Equity | 10/15 | €29,340 | €35,017 | +€5,677 | +19.4% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €23,135 | €28,812 | +€5,677 | +24.5% |
| Distributable reserves | 133 | €23,135 | €28,812 | +€5,677 | +24.5% |
| Amounts payable | 17/49 | €58,547 | €65,146 | +€6,600 | +11.3% |
| Amounts payable after more than one year | 17 | €5,275 | - | -€5,275 | |
| Financial debts | 170/4 | €5,275 | - | -€5,275 | |
| Amounts payable within one year | 42/48 | €53,271 | €63,543 | +€10,272 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €8,857 | €5,275 | -€3,582 | -40.4% |
| Trade debts | 44 | €10,324 | €17,081 | +€6,758 | +65.5% |
| Suppliers | 440/4 | €10,324 | €17,081 | +€6,758 | +65.5% |
| Taxes, remuneration and social security | 45 | €16,218 | €14,816 | -€1,402 | -8.6% |
| Taxes | 450/3 | €2,366 | €3,295 | +€929 | +39.3% |
| Remuneration and social security | 454/9 | €13,852 | €11,521 | -€2,332 | -16.8% |
| Other amounts payable | 47/48 | €17,872 | €26,370 | +€8,498 | +47.5% |
| Accrued charges and deferred income | 492/3 | - | €1,603 | +€1,603 | |
| Remuneration, social security and pensions | 62 | €45,470 | €38,697 | -€6,773 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,445 | €10,778 | +€1,332 | +14.1% |
| Other operating charges | 640/8 | €926 | €941 | +€16 | +1.7% |
| Gross operating margin | 9900 | €73,582 | €58,802 | -€14,780 | -20.1% |
| Operating profit (loss) | 9901 | €17,741 | €8,385 | -€9,356 | -52.7% |
| Financial income | 75/76B | €180 | €41 | -€138 | -77.0% |
| Recurring financial income | 75 | €180 | €41 | -€138 | -77.0% |
| Financial charges | 65/66B | €1,107 | €2,749 | +€1,642 | +148% |
| Recurring financial charges | 65 | €1,107 | €2,749 | +€1,642 | +148% |
| Profit (loss) for the period before taxes | 9903 | €16,814 | €5,677 | -€11,136 | -66.2% |
| Profit (loss) for the period | 9904 | €16,814 | €5,677 | -€11,136 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,814 | €5,677 | -€11,136 | -66.2% |
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 16 October 2026 via checked.be.