MAISON BRULS: what changed
Two fiscal 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.
What changed
MAISON BRULS
NACE 47.721, Retail sale of footwear
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€43,097
2024 · €59,622-€16,525
Equity
€1.6m
2024 · €1.7m-€104,903
Cash
€437,148
2024 · €298,570+€138,578
Balance sheet total
€2.6m
2024 · €2.7m-€132,703
Largest movements
Assets
- Cash +€138,578
up €138,578 (+46.4%), from €298,570 to €437,148
mainly Depreciation (+€124,134) and Current investments (+€100,000)
- Tangible fixed assets -€103,720
down €103,720 (-7.1%), from €1.5m to €1.4m
of which Land and buildings: -€86,052
- Current investments -€100,000
down €100,000 (-32.8%), from €304,952 to €204,952
- Stocks and contracts -€78,908
down €78,908 (-12.4%), from €634,693 to €555,785
Equity and liabilities
- Reserves -€106,000
down €106,000 (-19.6%), from €541,433 to €435,433
of which Distributable reserves: -€106,000
- Debts after one year -€72,136
down €72,136 (-9.9%), from €727,899 to €655,763
- Other debts +€57,294
up €57,294 (+52.7%), from €108,759 to €166,053
Income statement
- Gross operating margin -€47,965
down €47,965 (-12.4%), from €387,436 to €339,471
- Provisions -€29,810
new in 2025: -€29,810
- Depreciation -€10,027
down €10,027 (-7.5%), from €134,161 to €124,134
- Taxes -€7,822
down €7,822 (-30.3%), from €25,792 to €17,971
- Staff costs +€6,033
up €6,033 (+3.2%), from €190,833 to €196,866
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.
Result 2024
€59,622
Gross operating margin
-€47,965
Staff costs
-€6,033
Depreciation
+€10,027
Write-downs
-€2,906
Provisions
+€29,810
Other operating charges
-€3,453
Other operating items
-€7,000
Financial income
+€1,558
Financial charges
+€1,615
Taxes
+€7,822
Result 2025
€43,097
Cash bridge derived
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.
From operations
+€284,690
Investment
+€74,024
Financing
-€220,136
Cash 2024
€298,570
From operations (derived)
+€284,690
Net result for the year
+€43,097
Depreciation
+€124,134
Stocks and contracts
+€78,908
Receivables within one year
-€2,744
Deferred charges and accrued income
-€3,041
Trade debts
-€2,135
Tax, wage and social debts
-€21,091
Advances received
+€10,035
Other debts
+€57,294
Accrued charges and deferred income
+€234
Investment (derived)
+€74,024
Investment in fixed assets (net)
-€25,976
Current investments
+€100,000
Financing
-€220,136
Debts after one year
-€72,136
Contributions, distributions and other
-€148,000
Cash 2025
€437,148
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,749,181 | €2,616,479 | -€132,703 | -4.8% |
| Fixed assets | 21/28 | €1,460,885 | €1,362,727 | -€98,158 | -6.7% |
| Intangible fixed assets | 21 | - | €5,562 | +€5,562 | |
| Tangible fixed assets | 22/27 | €1,457,885 | €1,354,165 | -€103,720 | -7.1% |
| Land and buildings | 22 | €1,218,071 | €1,132,019 | -€86,052 | -7.1% |
| Plant, machinery and equipment | 23 | €146 | - | -€146 | |
| Furniture and vehicles | 24 | €34,849 | €39,368 | +€4,519 | +13.0% |
| Other tangible fixed assets | 26 | €204,819 | €182,778 | -€22,041 | -10.8% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €1,288,297 | €1,253,752 | -€34,545 | -2.7% |
| Stocks and contracts in progress | 3 | €634,693 | €555,785 | -€78,908 | -12.4% |
| Stocks | 30/36 | €634,693 | €555,785 | -€78,908 | -12.4% |
| Amounts receivable within one year | 40/41 | €40,186 | €42,931 | +€2,744 | +6.8% |
| Trade receivables | 40 | €13,328 | €19,642 | +€6,314 | +47.4% |
| Other amounts receivable | 41 | €26,858 | €23,289 | -€3,569 | -13.3% |
| Current investments | 50/53 | €304,952 | €204,952 | -€100,000 | -32.8% |
| Cash at bank and in hand | 54/58 | €298,570 | €437,148 | +€138,578 | +46.4% |
| Deferred charges and accrued income | 490/1 | €9,895 | €12,935 | +€3,041 | +30.7% |
| Total equity and liabilities | 10/49 | €2,749,181 | €2,616,479 | -€132,703 | -4.8% |
| Equity | 10/15 | €1,714,424 | €1,609,521 | -€104,903 | -6.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €541,433 | €435,433 | -€106,000 | -19.6% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,274 | €8,274 | = | 0.0% |
| Distributable reserves | 133 | €526,962 | €420,962 | -€106,000 | -20.1% |
| Profit (loss) carried forward | 14 | €1,111,018 | €1,112,115 | +€1,097 | +0.1% |
| Amounts payable | 17/49 | €1,034,757 | €1,006,957 | -€27,800 | -2.7% |
| Amounts payable after more than one year | 17 | €727,899 | €655,763 | -€72,136 | -9.9% |
| Financial debts | 170/4 | €727,899 | €655,763 | -€72,136 | -9.9% |
| Amounts payable within one year | 42/48 | €306,858 | €350,961 | +€44,103 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €72,136 | €72,136 | = | 0.0% |
| Trade debts | 44 | €30,879 | €28,743 | -€2,135 | -6.9% |
| Suppliers | 440/4 | €30,879 | €28,743 | -€2,135 | -6.9% |
| Advances received on contracts in progress | 46 | - | €10,035 | +€10,035 | |
| Taxes, remuneration and social security | 45 | €95,085 | €73,994 | -€21,091 | -22.2% |
| Taxes | 450/3 | €55,363 | €26,006 | -€29,357 | -53.0% |
| Remuneration and social security | 454/9 | €39,722 | €47,987 | +€8,265 | +20.8% |
| Other amounts payable | 47/48 | €108,759 | €166,053 | +€57,294 | +52.7% |
| Accrued charges and deferred income | 492/3 | - | €234 | +€234 | |
| Non-recurring operating income | 76A | €2,479 | - | -€2,479 | |
| Remuneration, social security and pensions | 62 | €190,833 | €196,866 | +€6,033 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,161 | €124,134 | -€10,027 | -7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,906 | - | +€2,906 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€29,810 | -€29,810 | |
| Other operating charges | 640/8 | €2,351 | €5,804 | +€3,453 | +146.8% |
| Non-recurring operating charges | 66A | - | €7,000 | +€7,000 | |
| Gross operating margin | 9900 | €387,436 | €339,471 | -€47,965 | -12.4% |
| Operating profit (loss) | 9901 | €62,997 | €35,477 | -€27,520 | -43.7% |
| Financial income | 75/76B | €42,400 | €43,958 | +€1,558 | +3.7% |
| Recurring financial income | 75 | €42,400 | €43,958 | +€1,558 | +3.7% |
| Financial charges | 65/66B | €19,982 | €18,367 | -€1,615 | -8.1% |
| Recurring financial charges | 65 | €19,982 | €18,367 | -€1,615 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €85,414 | €61,068 | -€24,347 | -28.5% |
| Income taxes | 67/77 | €25,792 | €17,971 | -€7,822 | -30.3% |
| Profit (loss) for the period | 9904 | €59,622 | €43,097 | -€16,525 | -27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,622 | €43,097 | -€16,525 | -27.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.