Leen Bruggeman: 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.
Leen Bruggeman
Largest movements
- Cash +€56,598
up €56,598 (+42.1%), from €134,485 to €191,084
mainly Net result for the year (+€73,439) and Depreciation (+€988)
- Receivables within one year +€7,002
up €7,002 (+137%), from €5,095 to €12,098
- Reserves +€73,439
up €73,439 (+63.3%), from €115,984 to €189,423
- Tax, wage and social debts -€9,164
no longer reported in 2025 (was €9,164)
- Gross operating margin -€60,106
down €60,106 (-35.6%), from €169,008 to €108,902
- Taxes -€14,179
down €14,179 (-29.0%), from €48,836 to €34,656
- Depreciation -€3,044
down €3,044 (-75.5%), from €4,032 to €988
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 | €142,401 | €206,844 | +€64,443 | +45.3% |
| Fixed assets | 21/28 | €2,821 | €3,663 | +€842 | +29.9% |
| Tangible fixed assets | 22/27 | €2,821 | €3,663 | +€842 | +29.9% |
| Land and buildings | 22 | €1,356 | €1,950 | +€595 | +43.9% |
| Furniture and vehicles | 24 | €1,465 | €1,712 | +€247 | +16.9% |
| Current assets | 29/58 | €139,581 | €203,181 | +€63,601 | +45.6% |
| Amounts receivable within one year | 40/41 | €5,095 | €12,098 | +€7,002 | +137% |
| Other amounts receivable | 41 | €5,095 | €12,098 | +€7,002 | +137% |
| Cash at bank and in hand | 54/58 | €134,485 | €191,084 | +€56,598 | +42.1% |
| Total equity and liabilities | 10/49 | €142,401 | €206,844 | +€64,443 | +45.3% |
| Equity | 10/15 | €130,984 | €204,423 | +€73,439 | +56.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €115,984 | €189,423 | +€73,439 | +63.3% |
| Distributable reserves | 133 | €115,984 | €189,423 | +€73,439 | +63.3% |
| Amounts payable | 17/49 | €11,417 | €2,420 | -€8,997 | -78.8% |
| Amounts payable within one year | 42/48 | €11,417 | €2,420 | -€8,997 | -78.8% |
| Trade debts | 44 | €2,253 | €2,420 | +€167 | +7.4% |
| Suppliers | 440/4 | €2,253 | €2,420 | +€167 | +7.4% |
| Taxes, remuneration and social security | 45 | €9,164 | - | -€9,164 | |
| Taxes | 450/3 | €9,164 | - | -€9,164 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,032 | €988 | -€3,044 | -75.5% |
| Other operating charges | 640/8 | €291 | €192 | -€100 | -34.2% |
| Gross operating margin | 9900 | €169,008 | €108,902 | -€60,106 | -35.6% |
| Operating profit (loss) | 9901 | €164,685 | €107,722 | -€56,963 | -34.6% |
| Financial income | 75/76B | €212 | €417 | +€206 | +97.2% |
| Recurring financial income | 75 | €212 | €417 | +€206 | +97.2% |
| Financial charges | 65/66B | €76 | €44 | -€33 | -43.0% |
| Recurring financial charges | 65 | €76 | €44 | -€33 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €164,820 | €108,096 | -€56,724 | -34.4% |
| Income taxes | 67/77 | €48,836 | €34,656 | -€14,179 | -29.0% |
| Profit (loss) for the period | 9904 | €115,984 | €73,439 | -€42,545 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €115,984 | €73,439 | -€42,545 | -36.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.