RUDI BRAES: what changed
What changed
RUDI BRAES
NACE 69.203, Activities of company auditors
filed annual accounts (NBB)
Net result for the year
€2.9m
2025 · €3.5m-€560,196
Equity
€23.7m
2025 · €20.8m+€2.9m
Cash
€1.5m
2025 · €934,148+€598,865
Balance sheet total
€23.9m
2025 · €20.9m+€3.0m
Largest movements
Assets
- Current investments +€2.1m
up €2.1m (+24.1%), from €8.8m to €10.9m
- Cash +€598,865
up €598,865 (+64.1%), from €934,148 to €1.5m
mainly Net result for the year (+€2.9m) and Depreciation (+€219,087)
- Receivables within one year +€496,689
up €496,689 (+100%), from €496,103 to €992,791
of which Other amounts receivable: +€453,924
Equity and liabilities
- Reserves +€2.9m
up €2.9m (+14.2%), from €20.7m to €23.6m
Income statement
- Gross operating margin -€446,410
down €446,410 (-9.4%), from €4.7m to €4.3m
- Financial income -€166,241
down €166,241 (-30.9%), from €538,219 to €371,978
of which Financial income: -€153,922
- Depreciation -€67,925
down €67,925 (-23.7%), from €287,012 to €219,087
- Financial charges +€51,001
up €51,001 (+360%), from €14,179 to €65,180
Change in the result, 2025 to 2026
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 2025
€3.5m
Gross operating margin
-€446,410
Depreciation
+€67,925
Other operating charges
-€9,234
Financial income
-€166,241
Financial charges
-€51,001
Taxes
+€44,765
Result 2026
€2.9m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.8m
Investment
-€2.2m
Financing
€0
Cash 2025
€934,148
From operations (derived)
+€2.8m
Net result for the year
+€2.9m
Depreciation
+€219,087
Receivables after one year
+€38,056
Receivables within one year
-€496,689
Deferred charges and accrued income
-€8,366
Trade debts
+€7,857
Tax, wage and social debts
+€51,703
Smaller working-capital items
-€2,923
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€35,407
Current investments
-€2.1m
Cash 2026
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,924,051 | €23,925,064 | +€3.0m | +14.3% |
| Fixed assets | 21/28 | €5,857,237 | €5,673,557 | -€183,681 | -3.1% |
| Tangible fixed assets | 22/27 | €5,847,660 | €5,663,980 | -€183,681 | -3.1% |
| Land and buildings | 22 | €4,959,285 | €4,865,928 | -€93,356 | -1.9% |
| Furniture and vehicles | 24 | €747,443 | €674,330 | -€73,114 | -9.8% |
| Other tangible fixed assets | 26 | €140,932 | €123,722 | -€17,210 | -12.2% |
| Financial fixed assets | 28 | €9,577 | €9,577 | = | 0.0% |
| Current assets | 29/58 | €15,066,814 | €18,251,507 | +€3.2m | +21.1% |
| Amounts receivable after more than one year | 29 | €4,760,122 | €4,722,066 | -€38,056 | -0.8% |
| Other amounts receivable | 291 | €4,760,122 | €4,722,066 | -€38,056 | -0.8% |
| Amounts receivable within one year | 40/41 | €496,103 | €992,791 | +€496,689 | +100% |
| Trade receivables | 40 | €208 | €42,973 | +€42,765 | +20,540% |
| Other amounts receivable | 41 | €495,895 | €949,818 | +€453,924 | +91.5% |
| Current investments | 50/53 | €8,805,236 | €10,924,066 | +€2.1m | +24.1% |
| Cash at bank and in hand | 54/58 | €934,148 | €1,533,014 | +€598,865 | +64.1% |
| Deferred charges and accrued income | 490/1 | €71,204 | €79,570 | +€8,366 | +11.7% |
| Total equity and liabilities | 10/49 | €20,924,051 | €23,925,064 | +€3.0m | +14.3% |
| Equity | 10/15 | €20,803,748 | €23,748,124 | +€2.9m | +14.2% |
| Contributions | 10/11 | €112,400 | €112,400 | = | 0.0% |
| Reserves | 13 | €20,691,348 | €23,635,724 | +€2.9m | +14.2% |
| Distributable reserves | 133 | €20,691,348 | €23,635,724 | +€2.9m | +14.2% |
| Amounts payable | 17/49 | €120,303 | €176,940 | +€56,638 | +47.1% |
| Amounts payable within one year | 42/48 | €110,687 | €167,547 | +€56,860 | +51.4% |
| Trade debts | 44 | €34,645 | €42,503 | +€7,857 | +22.7% |
| Suppliers | 440/4 | €34,645 | €42,503 | +€7,857 | +22.7% |
| Taxes, remuneration and social security | 45 | €73,341 | €125,044 | +€51,703 | +70.5% |
| Taxes | 450/3 | €73,341 | €125,044 | +€51,703 | +70.5% |
| Other amounts payable | 47/48 | €2,700 | €0 | -€2,700 | -100% |
| Accrued charges and deferred income | 492/3 | €9,616 | €9,394 | -€223 | -2.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,012 | €219,087 | -€67,925 | -23.7% |
| Other operating charges | 640/8 | €14,384 | €23,618 | +€9,234 | +64.2% |
| Gross operating margin | 9900 | €4,723,972 | €4,277,562 | -€446,410 | -9.4% |
| Operating profit (loss) | 9901 | €4,422,576 | €4,034,857 | -€387,719 | -8.8% |
| Financial income | 75/76B | €538,219 | €371,978 | -€166,241 | -30.9% |
| Recurring financial income | 75 | €525,900 | €371,978 | -€153,922 | -29.3% |
| Non-recurring financial income | 76B | €12,319 | €0 | -€12,319 | -100% |
| Financial charges | 65/66B | €14,179 | €65,180 | +€51,001 | +360% |
| Recurring financial charges | 65 | €14,179 | €65,180 | +€51,001 | +360% |
| Profit (loss) for the period before taxes | 9903 | €4,946,616 | €4,341,655 | -€604,961 | -12.2% |
| Income taxes | 67/77 | €1,442,045 | €1,397,280 | -€44,765 | -3.1% |
| Profit (loss) for the period | 9904 | €3,504,571 | €2,944,375 | -€560,196 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,504,571 | €2,944,375 | -€560,196 | -16.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 May 2025 and 31 May 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.