Ilse Bruglemans: 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.
Ilse Bruglemans
Largest movements
- Receivables within one year +€86,855
up €86,855 (+4,374%), from €1,986 to €88,840
of which Other amounts receivable: +€83,117
- Cash -€62,172
no longer reported in 2025 (was €62,172)
mainly Receivables within one year (-€86,855) and Other debts (-€2,432)
- Tangible fixed assets -€4,195
down €4,195 (-32.5%), from €12,897 to €8,701
- Reserves +€21,612
up €21,612 (+46.5%), from €46,453 to €68,066
- Other debts -€2,432
down €2,432 (-15.8%), from €15,403 to €12,971
- Tax, wage and social debts +€1,307
up €1,307 (+11.2%), from €11,698 to €13,005
- Gross operating margin +€657
up €657 (+1.8%), from €36,209 to €36,866
- Financial income +€525
new in 2025: €525
- Taxes +€390
up €390 (+3.7%), from €10,634 to €11,024
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 | €77,055 | €97,542 | +€20,487 | +26.6% |
| Fixed assets | 21/28 | €12,897 | €8,701 | -€4,195 | -32.5% |
| Tangible fixed assets | 22/27 | €12,897 | €8,701 | -€4,195 | -32.5% |
| Furniture and vehicles | 24 | €12,897 | €8,701 | -€4,195 | -32.5% |
| Current assets | 29/58 | €64,158 | €88,840 | +€24,682 | +38.5% |
| Amounts receivable within one year | 40/41 | €1,986 | €88,840 | +€86,855 | +4,374% |
| Trade receivables | 40 | €1,986 | €5,723 | +€3,738 | +188% |
| Other amounts receivable | 41 | - | €83,117 | +€83,117 | |
| Cash at bank and in hand | 54/58 | €62,172 | - | -€62,172 | |
| Total equity and liabilities | 10/49 | €77,055 | €97,542 | +€20,487 | +26.6% |
| Equity | 10/15 | €49,953 | €71,566 | +€21,612 | +43.3% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Capital | 10 | - | €3,500 | +€3,500 | |
| Issued capital | 100 | - | €3,500 | +€3,500 | |
| Reserves | 13 | €46,453 | €68,066 | +€21,612 | +46.5% |
| Distributable reserves | 133 | €46,453 | €68,066 | +€21,612 | +46.5% |
| Amounts payable | 17/49 | €27,101 | €25,976 | -€1,125 | -4.2% |
| Amounts payable within one year | 42/48 | €27,101 | €25,976 | -€1,125 | -4.2% |
| Taxes, remuneration and social security | 45 | €11,698 | €13,005 | +€1,307 | +11.2% |
| Taxes | 450/3 | €11,698 | €13,005 | +€1,307 | +11.2% |
| Other amounts payable | 47/48 | €15,403 | €12,971 | -€2,432 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,195 | €4,195 | = | 0.0% |
| Other operating charges | 640/8 | €669 | €560 | -€108 | -16.2% |
| Gross operating margin | 9900 | €36,209 | €36,866 | +€657 | +1.8% |
| Operating profit (loss) | 9901 | €31,345 | €32,111 | +€765 | +2.4% |
| Financial income | 75/76B | - | €525 | +€525 | |
| Recurring financial income | 75 | - | €525 | +€525 | |
| Profit (loss) for the period before taxes | 9903 | €31,345 | €32,636 | +€1,290 | +4.1% |
| Income taxes | 67/77 | €10,634 | €11,024 | +€390 | +3.7% |
| Profit (loss) for the period | 9904 | €20,712 | €21,612 | +€900 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,712 | €21,612 | +€900 | +4.3% |
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 21 October 2026 via checked.be.