Luc de Bruyn: what changed
Luc de Bruyn
Largest movements
- Tangible fixed assets +€21,406
up €21,406 (+270%), from €7,914 to €29,320
of which Furniture and vehicles: +€21,952
- Cash +€4,540
up €4,540 (+77.9%), from €5,832 to €10,372
mainly Debts after one year (+€10,581) and Net result for the year (+€9,232)
- Receivables within one year +€901
up €901 (+48.3%), from €1,867 to €2,768
of which Trade receivables: +€479
- Debts after one year +€10,581
new in 2025: €10,581
- Trade debts +€4,655
new in 2025: €4,655
- Profit (loss) carried forward +€4,232
up €4,232, from -€2,243 to €1,989
- Current portion of long-term debt +€3,557
up €3,557 (+413%), from €862 to €4,419
- Other debts +€3,282
up €3,282 (+191%), from €1,718 to €5,000
- Depreciation -€5,689
down €5,689 (-86.9%), from €6,548 to €859
- Gross operating margin +€4,479
up €4,479 (+57.1%), from €7,845 to €12,324
- Financial income +€670
up €670 (+1,505%), from €45 to €715
of which Non-recurring financial income: +€610
- Taxes +€665
up €665 (+50.6%), from €1,315 to €1,980
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,613 | €42,460 | +€26,847 | +172% |
| Fixed assets | 21/28 | €7,914 | €29,320 | +€21,406 | +270% |
| Tangible fixed assets | 22/27 | €7,914 | €29,320 | +€21,406 | +270% |
| Land and buildings | 22 | €1,639 | €1,093 | -€546 | -33.3% |
| Furniture and vehicles | 24 | €6,275 | €28,227 | +€21,952 | +350% |
| Current assets | 29/58 | €7,699 | €13,140 | +€5,441 | +70.7% |
| Amounts receivable within one year | 40/41 | €1,867 | €2,768 | +€901 | +48.3% |
| Trade receivables | 40 | €703 | €1,182 | +€479 | +68.1% |
| Other amounts receivable | 41 | €1,164 | €1,586 | +€422 | +36.3% |
| Cash at bank and in hand | 54/58 | €5,832 | €10,372 | +€4,540 | +77.9% |
| Total equity and liabilities | 10/49 | €15,613 | €42,460 | +€26,847 | +172% |
| Equity | 10/15 | €11,183 | €15,415 | +€4,232 | +37.8% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €13,425 | €13,425 | = | 0.0% |
| Distributable reserves | 133 | €13,425 | €13,425 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,243 | €1,989 | +€4,232 | |
| Amounts payable | 17/49 | €4,430 | €27,045 | +€22,615 | +511% |
| Amounts payable after more than one year | 17 | - | €10,581 | +€10,581 | |
| Financial debts | 170/4 | - | €10,581 | +€10,581 | |
| Amounts payable within one year | 42/48 | €4,430 | €16,464 | +€12,034 | +272% |
| Current portion of amounts payable after more than one year | 42 | €862 | €4,419 | +€3,557 | +413% |
| Trade debts | 44 | - | €4,655 | +€4,655 | |
| Suppliers | 440/4 | - | €4,655 | +€4,655 | |
| Taxes, remuneration and social security | 45 | €1,849 | €2,390 | +€540 | +29.2% |
| Taxes | 450/3 | €1,849 | €2,390 | +€540 | +29.2% |
| Other amounts payable | 47/48 | €1,718 | €5,000 | +€3,282 | +191% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,548 | €859 | -€5,689 | -86.9% |
| Other operating charges | 640/8 | €673 | €695 | +€22 | +3.3% |
| Gross operating margin | 9900 | €7,845 | €12,324 | +€4,479 | +57.1% |
| Operating profit (loss) | 9901 | €624 | €10,770 | +€10,146 | +1,626% |
| Financial income | 75/76B | €45 | €715 | +€670 | +1,505% |
| Recurring financial income | 75 | €45 | €105 | +€60 | +135% |
| Non-recurring financial income | 76B | - | €610 | +€610 | |
| Financial charges | 65/66B | €221 | €273 | +€52 | +23.8% |
| Recurring financial charges | 65 | €221 | €273 | +€52 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €448 | €11,212 | +€10,764 | +2,403% |
| Income taxes | 67/77 | €1,315 | €1,980 | +€665 | +50.6% |
| Profit (loss) for the period | 9904 | -€867 | €9,232 | +€10,099 | |
| Profit (loss) for the period to be appropriated | 9905 | -€867 | €9,232 | +€10,099 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.