DR. R. 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.
DR. R. DE BRUYN
Largest movements
- Current investments +€70,000
new in 2025: €70,000
- Cash +€43,094
up €43,094 (+117%), from €36,906 to €80,000
mainly Net result for the year (+€101,427) and Trade debts (+€33,539)
- Tangible fixed assets +€28,152
up €28,152 (+401%), from €7,028 to €35,180
- Receivables within one year -€7,421
down €7,421 (-71.3%), from €10,410 to €2,988
- Deferred charges and accrued income +€2,786
up €2,786 (+251%), from €1,110 to €3,896
- Reserves +€101,427
up €101,427 (+237%), from €42,792 to €144,219
- Trade debts +€33,539
up €33,539 (+1,853%), from €1,810 to €35,349
- Tax, wage and social debts +€6,997
up €6,997 (+200%), from €3,500 to €10,497
- Other debts -€5,352
no longer reported in 2025 (was €5,352)
- Gross operating margin +€75,070
up €75,070 (+131%), from €57,444 to €132,515
- Taxes +€16,732
up €16,732 (+144%), from €11,590 to €28,322
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 | €55,454 | €192,065 | +€136,610 | +246% |
| Fixed assets | 21/28 | €7,028 | €35,180 | +€28,152 | +401% |
| Tangible fixed assets | 22/27 | €7,028 | €35,180 | +€28,152 | +401% |
| Furniture and vehicles | 24 | €7,028 | €35,180 | +€28,152 | +401% |
| Current assets | 29/58 | €48,426 | €156,884 | +€108,458 | +224% |
| Amounts receivable within one year | 40/41 | €10,410 | €2,988 | -€7,421 | -71.3% |
| Other amounts receivable | 41 | €10,410 | €2,988 | -€7,421 | -71.3% |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €36,906 | €80,000 | +€43,094 | +117% |
| Deferred charges and accrued income | 490/1 | €1,110 | €3,896 | +€2,786 | +251% |
| Total equity and liabilities | 10/49 | €55,454 | €192,065 | +€136,610 | +246% |
| Equity | 10/15 | €44,792 | €146,219 | +€101,427 | +226% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €42,792 | €144,219 | +€101,427 | +237% |
| Distributable reserves | 133 | €42,792 | €144,219 | +€101,427 | +237% |
| Amounts payable | 17/49 | €10,662 | €45,846 | +€35,184 | +330% |
| Amounts payable within one year | 42/48 | €10,662 | €45,846 | +€35,184 | +330% |
| Trade debts | 44 | €1,810 | €35,349 | +€33,539 | +1,853% |
| Suppliers | 440/4 | €1,810 | €35,349 | +€33,539 | +1,853% |
| Taxes, remuneration and social security | 45 | €3,500 | €10,497 | +€6,997 | +200% |
| Taxes | 450/3 | €3,500 | €10,497 | +€6,997 | +200% |
| Other amounts payable | 47/48 | €5,352 | - | -€5,352 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,488 | €2,136 | +€648 | +43.5% |
| Other operating charges | 640/8 | €1,481 | €867 | -€614 | -41.4% |
| Gross operating margin | 9900 | €57,444 | €132,515 | +€75,070 | +131% |
| Operating profit (loss) | 9901 | €54,475 | €129,511 | +€75,036 | +138% |
| Financial income | 75/76B | - | €404 | +€404 | |
| Recurring financial income | 75 | - | €404 | +€404 | |
| Financial charges | 65/66B | €92 | €166 | +€75 | +81.2% |
| Recurring financial charges | 65 | €92 | €166 | +€75 | +81.2% |
| Profit (loss) for the period before taxes | 9903 | €54,383 | €129,748 | +€75,366 | +139% |
| Income taxes | 67/77 | €11,590 | €28,322 | +€16,732 | +144% |
| Profit (loss) for the period | 9904 | €42,792 | €101,427 | +€58,634 | +137% |
| Profit (loss) for the period to be appropriated | 9905 | €42,792 | €101,427 | +€58,634 | +137% |
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 18 October 2026 via checked.be.