Express Brugmann: 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.
Express Brugmann
Largest movements
- Receivables within one year -€76,663
down €76,663 (-66.8%), from €114,697 to €38,034
of which Trade receivables: -€86,444
- Cash +€42,412
up €42,412 (+181%), from €23,451 to €65,863
mainly Receivables within one year (+€76,663) and Debts after one year (+€57,319)
- Tangible fixed assets +€26,416
up €26,416 (+108%), from €24,551 to €50,967
of which Plant, machinery and equipment: +€17,912
- Stocks and contracts -€10,551
down €10,551 (-14.0%), from €75,203 to €64,652
- Trade debts -€118,920
down €118,920 (-58.3%), from €203,866 to €84,945
- Debts after one year +€57,319
new in 2025: €57,319
- Tax, wage and social debts +€17,567
up €17,567 (+83.4%), from €21,075 to €38,642
of which Remuneration and social security: +€17,615
- Profit (loss) carried forward +€14,021
up €14,021 (+40.7%), from €34,472 to €48,492
- Current portion of long-term debt +€9,023
new in 2025: €9,023
- Gross operating margin +€15,761
up €15,761 (+7.6%), from €207,457 to €223,218
- Staff costs -€14,115
down €14,115 (-8.0%), from €176,763 to €162,648
- Financial charges +€7,540
up €7,540 (+102%), from €7,399 to €14,939
- Other operating charges +€2,674
up €2,674 (+61.5%), from €4,346 to €7,020
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 | €290,922 | €269,422 | -€21,500 | -7.4% |
| Fixed assets | 21/28 | €65,054 | €90,969 | +€25,916 | +39.8% |
| Intangible fixed assets | 21 | €1,063 | €563 | -€500 | -47.1% |
| Tangible fixed assets | 22/27 | €24,551 | €50,967 | +€26,416 | +108% |
| Plant, machinery and equipment | 23 | €24,551 | €42,463 | +€17,912 | +73.0% |
| Furniture and vehicles | 24 | - | €2,044 | +€2,044 | |
| Other tangible fixed assets | 26 | - | €6,460 | +€6,460 | |
| Financial fixed assets | 28 | €39,440 | €39,440 | = | 0.0% |
| Current assets | 29/58 | €225,869 | €178,453 | -€47,416 | -21.0% |
| Stocks and contracts in progress | 3 | €75,203 | €64,652 | -€10,551 | -14.0% |
| Stocks | 30/36 | €75,203 | €64,652 | -€10,551 | -14.0% |
| Amounts receivable within one year | 40/41 | €114,697 | €38,034 | -€76,663 | -66.8% |
| Trade receivables | 40 | €86,502 | €58 | -€86,444 | -99.9% |
| Other amounts receivable | 41 | €28,196 | €37,976 | +€9,781 | +34.7% |
| Cash at bank and in hand | 54/58 | €23,451 | €65,863 | +€42,412 | +181% |
| Deferred charges and accrued income | 490/1 | €12,517 | €9,903 | -€2,614 | -20.9% |
| Total equity and liabilities | 10/49 | €290,922 | €269,422 | -€21,500 | -7.4% |
| Equity | 10/15 | €65,472 | €79,492 | +€14,021 | +21.4% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Contributions outside capital | 11 | €31,000 | - | -€31,000 | |
| Other | 1109/19 | €31,000 | - | -€31,000 | |
| Profit (loss) carried forward | 14 | €34,472 | €48,492 | +€14,021 | +40.7% |
| Amounts payable | 17/49 | €225,451 | €189,930 | -€35,521 | -15.8% |
| Amounts payable after more than one year | 17 | - | €57,319 | +€57,319 | |
| Financial debts | 170/4 | - | €57,319 | +€57,319 | |
| Amounts payable within one year | 42/48 | €224,940 | €132,611 | -€92,330 | -41.0% |
| Current portion of amounts payable after more than one year | 42 | - | €9,023 | +€9,023 | |
| Trade debts | 44 | €203,866 | €84,945 | -€118,920 | -58.3% |
| Suppliers | 440/4 | €203,866 | €84,945 | -€118,920 | -58.3% |
| Taxes, remuneration and social security | 45 | €21,075 | €38,642 | +€17,567 | +83.4% |
| Taxes | 450/3 | €7,682 | €7,635 | -€47 | -0.6% |
| Remuneration and social security | 454/9 | €13,393 | €31,007 | +€17,615 | +132% |
| Accrued charges and deferred income | 492/3 | €510 | €0 | -€510 | -100% |
| Remuneration, social security and pensions | 62 | €176,763 | €162,648 | -€14,115 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,199 | €7,298 | -€1,901 | -20.7% |
| Other operating charges | 640/8 | €4,346 | €7,020 | +€2,674 | +61.5% |
| Non-recurring operating charges | 66A | - | €13,205 | +€13,205 | |
| Gross operating margin | 9900 | €207,457 | €223,218 | +€15,761 | +7.6% |
| Operating profit (loss) | 9901 | €17,149 | €33,046 | +€15,898 | +92.7% |
| Financial income | 75/76B | €1,300 | €147 | -€1,153 | -88.7% |
| Recurring financial income | 75 | €1,300 | €147 | -€1,153 | -88.7% |
| Financial charges | 65/66B | €7,399 | €14,939 | +€7,540 | +102% |
| Recurring financial charges | 65 | €7,399 | €14,939 | +€7,540 | +102% |
| Profit (loss) for the period before taxes | 9903 | €11,049 | €18,254 | +€7,205 | +65.2% |
| Income taxes | 67/77 | €3,666 | €4,234 | +€568 | +15.5% |
| Profit (loss) for the period | 9904 | €7,383 | €14,021 | +€6,637 | +89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,383 | €14,021 | +€6,637 | +89.9% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.