De bruyn: what changed
Two fiscal 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 +€236,029
up €236,029 (+1006.0%), from €23,462 to €259,490
of which Land and buildings: +€243,363
- Receivables within one year -€22,447
down €22,447 (-75.5%), from €29,715 to €7,268
of which Trade receivables: -€20,150
- Other debts +€76,044
new in 2025: €76,044
- Reserves +€74,843
up €74,843 (+15.3%), from €488,204 to €563,047
of which Distributable reserves: +€74,843
- Debts after one year +€51,699
up €51,699 (+14.1%), from €367,566 to €419,265
- Gross operating margin -€63,431
down €63,431 (-38.8%), from €163,605 to €100,174
- Financial income +€35,567
up €35,567 (+399.9%), from €8,894 to €44,461
- Depreciation +€31,225
up €31,225 (+310.8%), from €10,047 to €41,271
- Taxes -€29,976
down €29,976 (-63.5%), from €47,187 to €17,211
- Financial charges -€5,287
down €5,287 (-35.3%), from €14,962 to €9,676
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 | €953,382 | €1,165,948 | +€212,567 | +22.3% |
| Fixed assets | 21/28 | €23,487 | €259,515 | +€236,029 | +1005.0% |
| Tangible fixed assets | 22/27 | €23,462 | €259,490 | +€236,029 | +1006.0% |
| Land and buildings | 22 | - | €243,363 | +€243,363 | |
| Plant, machinery and equipment | 23 | €5,604 | €4,129 | -€1,476 | -26.3% |
| Furniture and vehicles | 24 | €17,857 | €11,999 | -€5,858 | -32.8% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €929,895 | €906,433 | -€23,462 | -2.5% |
| Amounts receivable within one year | 40/41 | €29,715 | €7,268 | -€22,447 | -75.5% |
| Trade receivables | 40 | €27,418 | €7,268 | -€20,150 | -73.5% |
| Other amounts receivable | 41 | €2,297 | - | -€2,297 | |
| Current investments | 50/53 | €868,803 | €878,458 | +€9,655 | +1.1% |
| Cash at bank and in hand | 54/58 | €31,377 | €20,706 | -€10,670 | -34.0% |
| Total equity and liabilities | 10/49 | €953,382 | €1,165,948 | +€212,567 | +22.3% |
| Equity | 10/15 | €506,804 | €581,647 | +€74,843 | +14.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €488,204 | €563,047 | +€74,843 | +15.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €486,344 | €561,187 | +€74,843 | +15.4% |
| Amounts payable | 17/49 | €446,578 | €584,301 | +€137,723 | +30.8% |
| Amounts payable after more than one year | 17 | €367,566 | €419,265 | +€51,699 | +14.1% |
| Financial debts | 170/4 | €367,566 | €419,265 | +€51,699 | +14.1% |
| Amounts payable within one year | 42/48 | €79,012 | €164,246 | +€85,234 | +107.9% |
| Financial debts | 43 | €59,034 | €70,614 | +€11,580 | +19.6% |
| Credit institutions | 430/8 | €59,034 | €70,614 | +€11,580 | +19.6% |
| Trade debts | 44 | €14,603 | €3,336 | -€11,267 | -77.2% |
| Suppliers | 440/4 | €14,603 | €3,336 | -€11,267 | -77.2% |
| Taxes, remuneration and social security | 45 | €5,375 | €14,252 | +€8,876 | +165.1% |
| Taxes | 450/3 | €5,375 | €14,252 | +€8,876 | +165.1% |
| Other amounts payable | 47/48 | - | €76,044 | +€76,044 | |
| Accrued charges and deferred income | 492/3 | - | €790 | +€790 | |
| Non-recurring operating income | 76A | €84,267 | - | -€84,267 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,047 | €41,271 | +€31,225 | +310.8% |
| Other operating charges | 640/8 | €2,238 | €1,634 | -€604 | -27.0% |
| Gross operating margin | 9900 | €163,605 | €100,174 | -€63,431 | -38.8% |
| Operating profit (loss) | 9901 | €151,320 | €57,269 | -€94,051 | -62.2% |
| Financial income | 75/76B | €8,894 | €44,461 | +€35,567 | +399.9% |
| Recurring financial income | 75 | €8,894 | €44,461 | +€35,567 | +399.9% |
| Financial charges | 65/66B | €14,962 | €9,676 | -€5,287 | -35.3% |
| Recurring financial charges | 65 | €14,962 | €9,676 | -€5,287 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €145,251 | €92,054 | -€53,197 | -36.6% |
| Income taxes | 67/77 | €47,187 | €17,211 | -€29,976 | -63.5% |
| Profit (loss) for the period | 9904 | €98,064 | €74,843 | -€23,220 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €98,064 | €74,843 | -€23,220 | -23.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.