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
- Cash -€36,691
down €36,691 (-19.2%), from €190,705 to €154,014
mainly Tax, wage and social debts (-€48,754) and Debts after one year (-€34,489)
- Tangible fixed assets -€28,979
down €28,979 (-17.6%), from €165,062 to €136,084
of which Leasing and similar rights: -€38,678
- Receivables within one year +€17,148
up €17,148 (+5.7%), from €301,745 to €318,893
of which Other amounts receivable: +€30,240
- Reserves +€48,872
up €48,872 (+10.4%), from €472,021 to €520,893
- Tax, wage and social debts -€48,754
down €48,754 (-60.1%), from €81,174 to €32,420
of which Taxes: -€47,531
- Debts after one year -€34,489
down €34,489 (-79.5%), from €43,364 to €8,875
- Current portion of long-term debt -€23,679
down €23,679 (-40.7%), from €58,168 to €34,489
- Gross operating margin +€21,024
up €21,024 (+22.3%), from €94,321 to €115,345
- Staff costs -€17,882
down €17,882 (-100.0%), from €17,882 to €0
- Taxes +€15,417
up €15,417 (+119.3%), from €12,924 to €28,341
- Financial income +€11,410
up €11,410 (+200.6%), from €5,687 to €17,097
of which Financial income: +€10,410
- Other operating charges -€6,754
down €6,754 (-71.6%), from €9,432 to €2,677
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.
Cash bridge derived
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 | €679,060 | €627,118 | -€51,942 | -7.6% |
| Fixed assets | 21/28 | €165,062 | €136,084 | -€28,979 | -17.6% |
| Tangible fixed assets | 22/27 | €165,062 | €136,084 | -€28,979 | -17.6% |
| Plant, machinery and equipment | 23 | €3,747 | €3,056 | -€691 | -18.4% |
| Furniture and vehicles | 24 | €122,501 | €132,975 | +€10,475 | +8.6% |
| Leasing and similar rights | 25 | €38,678 | - | -€38,678 | |
| Other tangible fixed assets | 26 | €136 | €52 | -€84 | -61.8% |
| Current assets | 29/58 | €513,998 | €491,034 | -€22,964 | -4.5% |
| Stocks and contracts in progress | 3 | €10,912 | €12,023 | +€1,111 | +10.2% |
| Stocks | 30/36 | €10,912 | €12,023 | +€1,111 | +10.2% |
| Amounts receivable within one year | 40/41 | €301,745 | €318,893 | +€17,148 | +5.7% |
| Trade receivables | 40 | €13,708 | €617 | -€13,091 | -95.5% |
| Other amounts receivable | 41 | €288,036 | €318,276 | +€30,240 | +10.5% |
| Current investments | 50/53 | €3 | €3 | -€0 | -9.0% |
| Cash at bank and in hand | 54/58 | €190,705 | €154,014 | -€36,691 | -19.2% |
| Deferred charges and accrued income | 490/1 | €10,633 | €6,101 | -€4,532 | -42.6% |
| Total equity and liabilities | 10/49 | €679,060 | €627,118 | -€51,942 | -7.6% |
| Equity | 10/15 | €472,121 | €520,993 | +€48,872 | +10.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €472,021 | €520,893 | +€48,872 | +10.4% |
| Distributable reserves | 133 | €472,021 | €520,893 | +€48,872 | +10.4% |
| Amounts payable | 17/49 | €206,939 | €106,125 | -€100,814 | -48.7% |
| Amounts payable after more than one year | 17 | €43,364 | €8,875 | -€34,489 | -79.5% |
| Financial debts | 170/4 | €43,364 | €8,875 | -€34,489 | -79.5% |
| Amounts payable within one year | 42/48 | €163,575 | €97,250 | -€66,325 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €58,168 | €34,489 | -€23,679 | -40.7% |
| Trade debts | 44 | €24,234 | €30,341 | +€6,108 | +25.2% |
| Suppliers | 440/4 | €24,234 | €30,341 | +€6,108 | +25.2% |
| Taxes, remuneration and social security | 45 | €81,174 | €32,420 | -€48,754 | -60.1% |
| Taxes | 450/3 | €79,951 | €32,420 | -€47,531 | -59.5% |
| Remuneration and social security | 454/9 | €1,223 | - | -€1,223 | |
| Remuneration, social security and pensions | 62 | €17,882 | €0 | -€17,882 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,429 | €46,468 | +€3,039 | +7.0% |
| Other operating charges | 640/8 | €9,432 | €2,677 | -€6,754 | -71.6% |
| Non-recurring operating charges | 66A | - | €67 | +€67 | |
| Gross operating margin | 9900 | €94,321 | €115,345 | +€21,024 | +22.3% |
| Operating profit (loss) | 9901 | €23,579 | €66,133 | +€42,555 | +180.5% |
| Financial income | 75/76B | €5,687 | €17,097 | +€11,410 | +200.6% |
| Recurring financial income | 75 | €5,687 | €16,097 | +€10,410 | +183.1% |
| Non-recurring financial income | 76B | - | €1,000 | +€1,000 | |
| Financial charges | 65/66B | €8,425 | €6,018 | -€2,408 | -28.6% |
| Recurring financial charges | 65 | €8,425 | €6,018 | -€2,408 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €20,840 | €77,213 | +€56,373 | +270.5% |
| Income taxes | 67/77 | €12,924 | €28,341 | +€15,417 | +119.3% |
| Profit (loss) for the period | 9904 | €7,917 | €48,872 | +€40,955 | +517.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,917 | €48,872 | +€40,955 | +517.3% |
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 9 October 2026 via checked.be.