MARC BREUGELMANS: what changed
What changed
MARC BREUGELMANS
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€106,664
2024 · €39,612+€67,051
Equity
€807,029
2024 · €881,038-€74,010
Cash
€119,069
2024 · €57,112+€61,957
Balance sheet total
€1.5m
2024 · €1.5m-€31,878
Largest movements
Assets
- Intangible fixed assets -€82,200
down €82,200 (-48.7%), from €168,800 to €86,600
- Cash +€61,957
up €61,957 (+108%), from €57,112 to €119,069
mainly Other debts (+€117,064) and Net result for the year (+€106,664)
Equity and liabilities
- Other debts +€117,064
up €117,064 (+1,889%), from €6,196 to €123,260
- Reserves -€74,010
down €74,010 (-8.5%), from €868,638 to €794,629
- Debts after one year -€56,801
down €56,801 (-12.0%), from €474,218 to €417,418
- Current portion of long-term debt -€31,149
down €31,149 (-35.4%), from €87,950 to €56,801
- Tax, wage and social debts +€17,032
up €17,032 (+71.3%), from €23,894 to €40,926
of which Taxes: +€19,612
Income statement
- Depreciation -€55,545
down €55,545 (-35.9%), from €154,510 to €98,965
- Gross operating margin +€42,836
up €42,836 (+14.2%), from €301,102 to €343,938
- Taxes +€30,670
up €30,670 (+192%), from €15,971 to €46,641
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.
Result 2024
€39,612
Gross operating margin
+€42,836
Staff costs
-€1,880
Depreciation
+€55,545
Other operating charges
-€83
Financial income
+€294
Financial charges
+€1,010
Taxes
-€30,670
Result 2025
€106,664
raises the resultlowers the result
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.
From operations
+€337,211
Investment
-€2,797
Financing
-€272,458
Cash 2024
€57,112
From operations (derived)
+€337,211
Net result for the year
+€106,664
Depreciation
+€98,965
Receivables within one year
-€1,201
Deferred charges and accrued income
-€1,133
Smaller working-capital items
-€180
Tax, wage and social debts
+€17,032
Other debts
+€117,064
Investment (derived)
-€2,797
Investment in fixed assets (net)
-€2,797
Financing
-€272,458
Debts after one year
-€56,801
Current portion of long-term debt
-€31,149
Short-term financial debts
-€3,834
Contributions, distributions and other
-€180,674
Cash 2025
€119,069
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,486,255 | €1,454,377 | -€31,878 | -2.1% |
| Fixed assets | 21/28 | €1,328,279 | €1,232,110 | -€96,168 | -7.2% |
| Intangible fixed assets | 21 | €168,800 | €86,600 | -€82,200 | -48.7% |
| Tangible fixed assets | 22/27 | €479,864 | €465,896 | -€13,968 | -2.9% |
| Land and buildings | 22 | €471,016 | €456,547 | -€14,469 | -3.1% |
| Furniture and vehicles | 24 | €8,848 | €9,349 | +€501 | +5.7% |
| Financial fixed assets | 28 | €679,615 | €679,615 | = | 0.0% |
| Current assets | 29/58 | €157,976 | €222,266 | +€64,291 | +40.7% |
| Amounts receivable within one year | 40/41 | €95,303 | €96,504 | +€1,201 | +1.3% |
| Trade receivables | 40 | €21,958 | €33,716 | +€11,758 | +53.5% |
| Other amounts receivable | 41 | €73,345 | €62,788 | -€10,557 | -14.4% |
| Cash at bank and in hand | 54/58 | €57,112 | €119,069 | +€61,957 | +108% |
| Deferred charges and accrued income | 490/1 | €5,561 | €6,694 | +€1,133 | +20.4% |
| Total equity and liabilities | 10/49 | €1,486,255 | €1,454,377 | -€31,878 | -2.1% |
| Equity | 10/15 | €881,038 | €807,029 | -€74,010 | -8.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €868,638 | €794,629 | -€74,010 | -8.5% |
| Distributable reserves | 133 | €868,638 | €794,629 | -€74,010 | -8.5% |
| Amounts payable | 17/49 | €605,216 | €647,348 | +€42,132 | +7.0% |
| Amounts payable after more than one year | 17 | €474,218 | €417,418 | -€56,801 | -12.0% |
| Financial debts | 170/4 | €474,218 | €417,418 | -€56,801 | -12.0% |
| Amounts payable within one year | 42/48 | €126,259 | €225,056 | +€98,797 | +78.2% |
| Current portion of amounts payable after more than one year | 42 | €87,950 | €56,801 | -€31,149 | -35.4% |
| Financial debts | 43 | €3,834 | - | -€3,834 | |
| Credit institutions | 430/8 | €3,834 | - | -€3,834 | |
| Trade debts | 44 | €4,386 | €4,070 | -€316 | -7.2% |
| Suppliers | 440/4 | €4,386 | €4,070 | -€316 | -7.2% |
| Taxes, remuneration and social security | 45 | €23,894 | €40,926 | +€17,032 | +71.3% |
| Taxes | 450/3 | €10,204 | €29,816 | +€19,612 | +192% |
| Remuneration and social security | 454/9 | €13,690 | €11,110 | -€2,580 | -18.8% |
| Other amounts payable | 47/48 | €6,196 | €123,260 | +€117,064 | +1,889% |
| Accrued charges and deferred income | 492/3 | €4,739 | €4,874 | +€136 | +2.9% |
| Remuneration, social security and pensions | 62 | €62,103 | €63,983 | +€1,880 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,510 | €98,965 | -€55,545 | -35.9% |
| Other operating charges | 640/8 | €4,425 | €4,508 | +€83 | +1.9% |
| Gross operating margin | 9900 | €301,102 | €343,938 | +€42,836 | +14.2% |
| Operating profit (loss) | 9901 | €80,064 | €176,482 | +€96,417 | +120% |
| Financial income | 75/76B | €605 | €899 | +€294 | +48.6% |
| Recurring financial income | 75 | €605 | €899 | +€294 | +48.6% |
| Financial charges | 65/66B | €25,086 | €24,076 | -€1,010 | -4.0% |
| Recurring financial charges | 65 | €25,086 | €24,076 | -€1,010 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €55,584 | €153,305 | +€97,721 | +176% |
| Income taxes | 67/77 | €15,971 | €46,641 | +€30,670 | +192% |
| Profit (loss) for the period | 9904 | €39,612 | €106,664 | +€67,051 | +169% |
| Profit (loss) for the period to be appropriated | 9905 | €39,612 | €106,664 | +€67,051 | +169% |
Next steps
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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 7 November 2026 via checked.be.