DEBRUGA: 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.
DEBRUGA
Largest movements
- Tangible fixed assets -€1.5m
down €1.5m (-88.4%), from €1.7m to €191,843
- Receivables after one year -€200,000
no longer reported in 2025 (was €200,000)
- Cash -€93,817
down €93,817 (-86.1%), from €108,983 to €15,165
mainly Contributions, distributions and other (-€1.8m) and Other debts (-€43,335)
- Receivables within one year -€26,908
down €26,908 (-88.5%), from €30,408 to €3,500
- Reserves -€1.7m
down €1.7m (-93.7%), from €1.9m to €117,321
of which Distributable reserves: -€1.7m
- Other debts -€43,335
down €43,335 (-61.1%), from €70,982 to €27,646
- Gross operating margin -€75,843
down €75,843 (-46.1%), from €164,658 to €88,814
- Depreciation -€55,706
down €55,706 (-92.9%), from €59,942 to €4,236
- Other operating charges -€11,550
down €11,550 (-39.2%), from €29,494 to €17,944
- Taxes -€7,204
down €7,204 (-30.3%), from €23,736 to €16,532
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 | €2,002,525 | €213,214 | -€1.8m | -89.4% |
| Fixed assets | 21/28 | €1,663,134 | €191,843 | -€1.5m | -88.5% |
| Tangible fixed assets | 22/27 | €1,656,225 | €191,843 | -€1.5m | -88.4% |
| Land and buildings | 22 | €1,656,225 | €191,843 | -€1.5m | -88.4% |
| Financial fixed assets | 28 | €6,909 | - | -€6,909 | |
| Current assets | 29/58 | €339,391 | €21,371 | -€318,020 | -93.7% |
| Amounts receivable after more than one year | 29 | €200,000 | - | -€200,000 | |
| Other amounts receivable | 291 | €200,000 | - | -€200,000 | |
| Amounts receivable within one year | 40/41 | €30,408 | €3,500 | -€26,908 | -88.5% |
| Other amounts receivable | 41 | €30,408 | €3,500 | -€26,908 | -88.5% |
| Cash at bank and in hand | 54/58 | €108,983 | €15,165 | -€93,817 | -86.1% |
| Deferred charges and accrued income | 490/1 | - | €2,706 | +€2,706 | |
| Total equity and liabilities | 10/49 | €2,002,525 | €213,214 | -€1.8m | -89.4% |
| Equity | 10/15 | €1,922,801 | €178,821 | -€1.7m | -90.7% |
| Contributions | 10/11 | €62,000 | €61,500 | -€500 | -0.8% |
| Capital | 10 | €62,000 | €61,500 | -€500 | -0.8% |
| Issued capital | 100 | €62,000 | €61,500 | -€500 | -0.8% |
| Reserves | 13 | €1,860,801 | €117,321 | -€1.7m | -93.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,150 | -€50 | -0.8% |
| Legal reserve | 130 | €6,200 | €6,150 | -€50 | -0.8% |
| Distributable reserves | 133 | €1,854,601 | €111,171 | -€1.7m | -94.0% |
| Amounts payable | 17/49 | €79,724 | €34,393 | -€45,332 | -56.9% |
| Amounts payable within one year | 42/48 | €76,624 | €34,393 | -€42,232 | -55.1% |
| Trade debts | 44 | - | €3,746 | +€3,746 | |
| Suppliers | 440/4 | - | €3,746 | +€3,746 | |
| Taxes, remuneration and social security | 45 | €5,643 | €3,000 | -€2,643 | -46.8% |
| Taxes | 450/3 | €5,643 | €3,000 | -€2,643 | -46.8% |
| Other amounts payable | 47/48 | €70,982 | €27,646 | -€43,335 | -61.1% |
| Accrued charges and deferred income | 492/3 | €3,100 | - | -€3,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,942 | €4,236 | -€55,706 | -92.9% |
| Other operating charges | 640/8 | €29,494 | €17,944 | -€11,550 | -39.2% |
| Gross operating margin | 9900 | €164,658 | €88,814 | -€75,843 | -46.1% |
| Operating profit (loss) | 9901 | €75,222 | €66,635 | -€8,587 | -11.4% |
| Financial charges | 65/66B | €561 | €461 | -€99 | -17.7% |
| Recurring financial charges | 65 | €561 | €461 | -€99 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €74,661 | €66,173 | -€8,488 | -11.4% |
| Income taxes | 67/77 | €23,736 | €16,532 | -€7,204 | -30.3% |
| Profit (loss) for the period | 9904 | €50,925 | €49,641 | -€1,284 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,925 | €49,641 | -€1,284 | -2.5% |
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 4 October 2026 via checked.be.