DR. BRU GEORGES: what changed
DR. BRU GEORGES
Largest movements
- Tangible fixed assets +€392,354
up €392,354 (+1,805%), from €21,741 to €414,095
of which Land and buildings: +€398,716
- Current investments -€209,390
down €209,390 (-51.6%), from €406,031 to €196,641
- Cash -€125,364
down €125,364 (-68.0%), from €184,480 to €59,116
mainly Investment in fixed assets (net) (-€455,238) and Smaller working-capital items (-€2,454)
- Reserves +€55,571
up €55,571 (+11.2%), from €494,073 to €549,644
- Depreciation +€56,799
up €56,799 (+933%), from €6,086 to €62,885
- Gross operating margin +€22,621
up €22,621 (+20.1%), from €112,481 to €135,102
- Financial charges +€17,074
up €17,074, from -€11,990 to €5,084
- Financial income +€10,423
up €10,423 (+138%), from €7,531 to €17,953
- Taxes -€10,018
down €10,018 (-26.9%), from €37,190 to €27,172
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €614,943 | €673,128 | +€58,185 | +9.5% |
| Fixed assets | 21/28 | €21,741 | €414,095 | +€392,354 | +1,805% |
| Tangible fixed assets | 22/27 | €21,741 | €414,095 | +€392,354 | +1,805% |
| Land and buildings | 22 | - | €398,716 | +€398,716 | |
| Plant, machinery and equipment | 23 | €2,407 | €1,864 | -€543 | -22.6% |
| Furniture and vehicles | 24 | €9,986 | €6,907 | -€3,079 | -30.8% |
| Other tangible fixed assets | 26 | €9,348 | €6,608 | -€2,741 | -29.3% |
| Current assets | 29/58 | €593,202 | €259,033 | -€334,168 | -56.3% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | €406,031 | €196,641 | -€209,390 | -51.6% |
| Cash at bank and in hand | 54/58 | €184,480 | €59,116 | -€125,364 | -68.0% |
| Deferred charges and accrued income | 490/1 | €2,690 | €3,276 | +€585 | +21.8% |
| Total equity and liabilities | 10/49 | €614,943 | €673,128 | +€58,185 | +9.5% |
| Equity | 10/15 | €550,849 | €607,044 | +€56,194 | +10.2% |
| Contributions | 10/11 | €57,400 | €57,400 | = | 0.0% |
| Reserves | 13 | €494,073 | €549,644 | +€55,571 | +11.2% |
| Distributable reserves | 133 | €494,073 | €549,644 | +€55,571 | +11.2% |
| Profit (loss) carried forward | 14 | -€623 | €0 | +€623 | |
| Amounts payable | 17/49 | €64,093 | €66,084 | +€1,991 | +3.1% |
| Amounts payable within one year | 42/48 | €60,360 | €62,669 | +€2,309 | +3.8% |
| Trade debts | 44 | €1,274 | €822 | -€452 | -35.5% |
| Suppliers | 440/4 | €1,274 | €822 | -€452 | -35.5% |
| Taxes, remuneration and social security | 45 | €12,562 | €11,463 | -€1,099 | -8.7% |
| Taxes | 450/3 | €12,562 | €11,463 | -€1,099 | -8.7% |
| Other amounts payable | 47/48 | €46,524 | €50,383 | +€3,860 | +8.3% |
| Accrued charges and deferred income | 492/3 | €3,733 | €3,416 | -€318 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,086 | €62,885 | +€56,799 | +933% |
| Other operating charges | 640/8 | €1,792 | €1,720 | -€72 | -4.0% |
| Gross operating margin | 9900 | €112,481 | €135,102 | +€22,621 | +20.1% |
| Operating profit (loss) | 9901 | €104,603 | €70,497 | -€34,106 | -32.6% |
| Financial income | 75/76B | €7,531 | €17,953 | +€10,423 | +138% |
| Recurring financial income | 75 | €7,531 | €17,953 | +€10,423 | +138% |
| Financial charges | 65/66B | -€11,990 | €5,084 | +€17,074 | |
| Recurring financial charges | 65 | -€11,990 | €5,084 | +€17,074 | |
| Profit (loss) for the period before taxes | 9903 | €124,124 | €83,366 | -€40,757 | -32.8% |
| Income taxes | 67/77 | €37,190 | €27,172 | -€10,018 | -26.9% |
| Profit (loss) for the period | 9904 | €86,934 | €56,194 | -€30,740 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,934 | €56,194 | -€30,740 | -35.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.