LE BRUSSELS GROUP: 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.
LE BRUSSELS GROUP
Largest movements
- Receivables within one year -€14,762
down €14,762 (-4.2%), from €354,354 to €339,591
of which Trade receivables: -€34,762
- Cash -€14,252
down €14,252 (-29.1%), from €49,021 to €34,769
mainly Debts after one year (-€160,000) and Tax, wage and social debts (-€6,945)
- Debts after one year -€160,000
down €160,000 (-25.2%), from €635,910 to €475,910
- Profit (loss) carried forward +€115,903
up €115,903 (+38.3%), from €302,344 to €418,247
- Gross operating margin -€180,481
down €180,481 (-55.7%), from €323,821 to €143,339
- Staff costs -€129,534
down €129,534 (-99.7%), from €129,917 to €382
- Financial income -€9,714
down €9,714 (-48.6%), from €20,000 to €10,286
- Financial charges +€4,655
up €4,655 (+16.4%), from €28,347 to €33,002
of which Non-recurring financial charges: +€10,586
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 | €1,276,112 | €1,226,061 | -€50,051 | -3.9% |
| Fixed assets | 21/28 | €851,827 | €841,158 | -€10,669 | -1.3% |
| Tangible fixed assets | 22/27 | €7,560 | €7,552 | -€8 | -0.1% |
| Plant, machinery and equipment | 23 | €2,814 | €2,443 | -€371 | -13.2% |
| Furniture and vehicles | 24 | €4,487 | €4,991 | +€503 | +11.2% |
| Other tangible fixed assets | 26 | €258 | €118 | -€140 | -54.4% |
| Financial fixed assets | 28 | €844,267 | €833,606 | -€10,661 | -1.3% |
| Current assets | 29/58 | €424,285 | €384,903 | -€39,382 | -9.3% |
| Amounts receivable within one year | 40/41 | €354,354 | €339,591 | -€14,762 | -4.2% |
| Trade receivables | 40 | €104,354 | €69,591 | -€34,762 | -33.3% |
| Other amounts receivable | 41 | €250,000 | €270,000 | +€20,000 | +8.0% |
| Cash at bank and in hand | 54/58 | €49,021 | €34,769 | -€14,252 | -29.1% |
| Deferred charges and accrued income | 490/1 | €20,911 | €10,543 | -€10,368 | -49.6% |
| Total equity and liabilities | 10/49 | €1,276,112 | €1,226,061 | -€50,051 | -3.9% |
| Equity | 10/15 | €617,417 | €733,320 | +€115,903 | +18.8% |
| Contributions | 10/11 | €248,000 | €248,000 | = | 0.0% |
| Capital | 10 | €248,000 | €248,000 | = | 0.0% |
| Issued capital | 100 | €248,000 | €248,000 | = | 0.0% |
| Revaluation surpluses | 12 | €42,273 | €42,273 | = | 0.0% |
| Reserves | 13 | €24,800 | €24,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,800 | €24,800 | = | 0.0% |
| Legal reserve | 130 | €24,800 | €24,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €302,344 | €418,247 | +€115,903 | +38.3% |
| Amounts payable | 17/49 | €658,695 | €492,740 | -€165,954 | -25.2% |
| Amounts payable after more than one year | 17 | €635,910 | €475,910 | -€160,000 | -25.2% |
| Financial debts | 170/4 | €635,910 | €475,910 | -€160,000 | -25.2% |
| Amounts payable within one year | 42/48 | €22,773 | €16,830 | -€5,943 | -26.1% |
| Trade debts | 44 | €649 | €1,238 | +€589 | +90.8% |
| Suppliers | 440/4 | €649 | €1,238 | +€589 | +90.8% |
| Taxes, remuneration and social security | 45 | €20,179 | €13,234 | -€6,945 | -34.4% |
| Taxes | 450/3 | €11,288 | €13,234 | +€1,946 | +17.2% |
| Remuneration and social security | 454/9 | €8,891 | €0 | -€8,891 | -100% |
| Other amounts payable | 47/48 | €1,945 | €2,358 | +€413 | +21.2% |
| Accrued charges and deferred income | 492/3 | €12 | €0 | -€12 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €129,917 | €382 | -€129,534 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,918 | €3,339 | +€422 | +14.5% |
| Other operating charges | 640/8 | €1,029 | €998 | -€31 | -3.0% |
| Gross operating margin | 9900 | €323,821 | €143,339 | -€180,481 | -55.7% |
| Operating profit (loss) | 9901 | €189,957 | €138,619 | -€51,338 | -27.0% |
| Financial income | 75/76B | €20,000 | €10,286 | -€9,714 | -48.6% |
| Recurring financial income | 75 | €20,000 | €10,286 | -€9,714 | -48.6% |
| Financial charges | 65/66B | €28,347 | €33,002 | +€4,655 | +16.4% |
| Recurring financial charges | 65 | €28,347 | €22,416 | -€5,932 | -20.9% |
| Non-recurring financial charges | 66B | - | €10,586 | +€10,586 | |
| Profit (loss) for the period before taxes | 9903 | €181,610 | €115,903 | -€65,707 | -36.2% |
| Profit (loss) for the period | 9904 | €181,610 | €115,903 | -€65,707 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €181,610 | €115,903 | -€65,707 | -36.2% |
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 23 October 2026 via checked.be.