EDWIN BRONCKAERS: 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.
EDWIN BRONCKAERS
Largest movements
- Cash -€40,673
down €40,673 (-58.9%), from €69,070 to €28,397
mainly Receivables within one year (-€31,241) and Investment in fixed assets (net) (-€25,687)
- Receivables within one year +€31,241
up €31,241 (+92.5%), from €33,779 to €65,020
of which Trade receivables: +€22,533
- Tangible fixed assets +€12,944
up €12,944 (+117%), from €11,056 to €24,000
- Financial fixed assets +€2,784
up €2,784 (+2.1%), from €133,408 to €136,192
- Profit (loss) carried forward +€21,985
no longer reported in 2025 (was -€21,985)
- Tax, wage and social debts -€13,517
down €13,517 (-40.8%), from €33,143 to €19,626
of which Remuneration and social security: -€14,018
- Gross operating margin +€57,920
up €57,920, from -€5,439 to €52,480
- Staff costs +€24,991
new in 2025: €24,991
- Taxes -€21,928
down €21,928 (-96.8%), from €22,660 to €732
- Financial income -€6,485
down €6,485 (-49.9%), from €12,983 to €6,498
of which Non-recurring financial income: -€6,246
- Depreciation +€4,581
up €4,581 (+85.2%), from €5,379 to €9,960
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 | €247,313 | €253,608 | +€6,295 | +2.5% |
| Fixed assets | 21/28 | €144,464 | €160,192 | +€15,727 | +10.9% |
| Tangible fixed assets | 22/27 | €11,056 | €24,000 | +€12,944 | +117% |
| Plant, machinery and equipment | 23 | €11,056 | €24,000 | +€12,944 | +117% |
| Financial fixed assets | 28 | €133,408 | €136,192 | +€2,784 | +2.1% |
| Current assets | 29/58 | €102,849 | €93,417 | -€9,432 | -9.2% |
| Amounts receivable within one year | 40/41 | €33,779 | €65,020 | +€31,241 | +92.5% |
| Trade receivables | 40 | €21,708 | €44,241 | +€22,533 | +104% |
| Other amounts receivable | 41 | €12,071 | €20,779 | +€8,708 | +72.1% |
| Cash at bank and in hand | 54/58 | €69,070 | €28,397 | -€40,673 | -58.9% |
| Total equity and liabilities | 10/49 | €247,313 | €253,608 | +€6,295 | +2.5% |
| Equity | 10/15 | €204,639 | €226,684 | +€22,045 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €208,024 | €208,084 | +€61 | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €206,164 | €206,224 | +€61 | 0.0% |
| Profit (loss) carried forward | 14 | -€21,985 | - | +€21,985 | |
| Amounts payable | 17/49 | €42,674 | €26,924 | -€15,750 | -36.9% |
| Amounts payable within one year | 42/48 | €42,674 | €26,924 | -€15,750 | -36.9% |
| Current portion of amounts payable after more than one year | 42 | €2,537 | €2,562 | +€25 | +1.0% |
| Trade debts | 44 | €2,297 | €250 | -€2,047 | -89.1% |
| Suppliers | 440/4 | €2,297 | €250 | -€2,047 | -89.1% |
| Taxes, remuneration and social security | 45 | €33,143 | €19,626 | -€13,517 | -40.8% |
| Taxes | 450/3 | - | €501 | +€501 | |
| Remuneration and social security | 454/9 | €33,143 | €19,125 | -€14,018 | -42.3% |
| Other amounts payable | 47/48 | €4,697 | €4,486 | -€211 | -4.5% |
| Remuneration, social security and pensions | 62 | - | €24,991 | +€24,991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,379 | €9,960 | +€4,581 | +85.2% |
| Other operating charges | 640/8 | €1,091 | €771 | -€321 | -29.4% |
| Gross operating margin | 9900 | -€5,439 | €52,480 | +€57,920 | |
| Operating profit (loss) | 9901 | -€11,910 | €16,758 | +€28,668 | |
| Financial income | 75/76B | €12,983 | €6,498 | -€6,485 | -49.9% |
| Recurring financial income | 75 | €3,953 | €3,714 | -€238 | -6.0% |
| Non-recurring financial income | 76B | €9,030 | €2,784 | -€6,246 | -69.2% |
| Financial charges | 65/66B | €397 | €509 | +€112 | +28.3% |
| Recurring financial charges | 65 | €397 | €509 | +€112 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €676 | €22,747 | +€22,072 | +3,266% |
| Income taxes | 67/77 | €22,660 | €732 | -€21,928 | -96.8% |
| Profit (loss) for the period | 9904 | -€21,985 | €22,015 | +€44,000 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,985 | €22,015 | +€44,000 |
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 17 October 2026 via checked.be.