Mario Bruelemans: 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.
Mario Bruelemans
Largest movements
- Tangible fixed assets -€14,036
down €14,036 (-29.6%), from €47,419 to €33,382
of which Furniture and vehicles: -€12,610
- Stocks and contracts -€4,635
down €4,635 (-53.8%), from €8,610 to €3,975
- Cash +€3,534
up €3,534 (+288%), from €1,227 to €4,761
mainly Depreciation (+€12,610) and Stocks and contracts (+€4,635)
- Deferred charges and accrued income +€1,001
up €1,001 (+252%), from €398 to €1,399
- Debts after one year -€11,660
down €11,660 (-46.3%), from €25,201 to €13,541
- Other debts -€2,070
down €2,070 (-11.7%), from €17,766 to €15,695
- Current portion of long-term debt -€627
down €627 (-5.1%), from €12,287 to €11,660
- Gross operating margin +€1,086
up €1,086 (+7.3%), from €14,872 to €15,958
- Depreciation +€939
up €939 (+8.0%), from €11,671 to €12,610
- Other operating charges +€841
up €841 (+87.1%), from €965 to €1,806
- Taxes -€184
down €184 (-74.4%), from €248 to €64
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 | €58,041 | €43,540 | -€14,501 | -25.0% |
| Fixed assets | 21/28 | €47,419 | €33,382 | -€14,036 | -29.6% |
| Tangible fixed assets | 22/27 | €47,419 | €33,382 | -€14,036 | -29.6% |
| Plant, machinery and equipment | 23 | €1,426 | €0 | -€1,426 | -100% |
| Furniture and vehicles | 24 | €45,992 | €33,382 | -€12,610 | -27.4% |
| Current assets | 29/58 | €10,623 | €10,158 | -€465 | -4.4% |
| Stocks and contracts in progress | 3 | €8,610 | €3,975 | -€4,635 | -53.8% |
| Contracts in progress | 37 | €8,610 | €3,975 | -€4,635 | -53.8% |
| Amounts receivable within one year | 40/41 | €388 | €22 | -€366 | -94.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €388 | €22 | -€366 | -94.2% |
| Cash at bank and in hand | 54/58 | €1,227 | €4,761 | +€3,534 | +288% |
| Deferred charges and accrued income | 490/1 | €398 | €1,399 | +€1,001 | +252% |
| Total equity and liabilities | 10/49 | €58,041 | €43,540 | -€14,501 | -25.0% |
| Equity | 10/15 | €1,663 | €1,182 | -€481 | -28.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €163 | €160 | -€3 | -1.7% |
| Distributable reserves | 133 | €163 | €160 | -€3 | -1.7% |
| Profit (loss) carried forward | 14 | €0 | -€478 | -€478 | |
| Amounts payable | 17/49 | €56,378 | €42,359 | -€14,020 | -24.9% |
| Amounts payable after more than one year | 17 | €25,201 | €13,541 | -€11,660 | -46.3% |
| Financial debts | 170/4 | €25,201 | €13,541 | -€11,660 | -46.3% |
| Amounts payable within one year | 42/48 | €31,178 | €28,817 | -€2,360 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €12,287 | €11,660 | -€627 | -5.1% |
| Trade debts | 44 | €558 | €832 | +€274 | +49.1% |
| Suppliers | 440/4 | €558 | €832 | +€274 | +49.1% |
| Taxes, remuneration and social security | 45 | €567 | €630 | +€64 | +11.2% |
| Taxes | 450/3 | €567 | €630 | +€64 | +11.2% |
| Other amounts payable | 47/48 | €17,766 | €15,695 | -€2,070 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,671 | €12,610 | +€939 | +8.0% |
| Other operating charges | 640/8 | €965 | €1,806 | +€841 | +87.1% |
| Gross operating margin | 9900 | €14,872 | €15,958 | +€1,086 | +7.3% |
| Operating profit (loss) | 9901 | €2,236 | €1,542 | -€694 | -31.0% |
| Financial charges | 65/66B | €1,945 | €1,960 | +€15 | +0.8% |
| Recurring financial charges | 65 | €1,945 | €1,960 | +€15 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €292 | -€418 | -€709 | |
| Income taxes | 67/77 | €248 | €64 | -€184 | -74.4% |
| Profit (loss) for the period | 9904 | €44 | -€481 | -€525 | |
| Profit (loss) for the period to be appropriated | 9905 | €44 | -€481 | -€525 |
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 28 October 2026 via checked.be.