Sander De Bruyne: 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.
Sander De Bruyne
Largest movements
- Cash +€52,613
up €52,613 (+57.4%), from €91,639 to €144,253
mainly Other debts (+€200,064) and Net result for the year (+€111,432)
- Receivables within one year +€52,136
up €52,136 (+42.2%), from €123,493 to €175,629
of which Trade receivables: +€27,833
- Tangible fixed assets +€29,789
up €29,789 (+557%), from €5,347 to €35,135
of which Furniture and vehicles: +€30,070
- Other debts +€200,064
new in 2025: €200,064
- Reserves -€88,568
down €88,568 (-43.9%), from €201,915 to €113,348
- Short-term financial debts +€35,000
new in 2025: €35,000
- Tax, wage and social debts -€8,738
down €8,738 (-34.0%), from €25,686 to €16,947
of which Taxes: -€9,728
- Gross operating margin +€25,660
up €25,660 (+21.8%), from €117,690 to €143,350
- Taxes +€7,344
up €7,344 (+29.8%), from €24,645 to €31,988
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 | €237,349 | €371,955 | +€134,606 | +56.7% |
| Fixed assets | 21/28 | €5,347 | €35,135 | +€29,789 | +557% |
| Tangible fixed assets | 22/27 | €5,347 | €35,135 | +€29,789 | +557% |
| Furniture and vehicles | 24 | - | €30,070 | +€30,070 | |
| Other tangible fixed assets | 26 | €5,347 | €5,065 | -€281 | -5.3% |
| Current assets | 29/58 | €232,002 | €336,819 | +€104,817 | +45.2% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €123,493 | €175,629 | +€52,136 | +42.2% |
| Trade receivables | 40 | €121,968 | €149,801 | +€27,833 | +22.8% |
| Other amounts receivable | 41 | €1,525 | €25,828 | +€24,303 | +1,594% |
| Cash at bank and in hand | 54/58 | €91,639 | €144,253 | +€52,613 | +57.4% |
| Deferred charges and accrued income | 490/1 | €1,870 | €1,937 | +€67 | +3.6% |
| Total equity and liabilities | 10/49 | €237,349 | €371,955 | +€134,606 | +56.7% |
| Equity | 10/15 | €206,915 | €118,348 | -€88,568 | -42.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €201,915 | €113,348 | -€88,568 | -43.9% |
| Distributable reserves | 133 | €201,915 | €113,348 | -€88,568 | -43.9% |
| Amounts payable | 17/49 | €30,433 | €253,607 | +€223,174 | +733% |
| Amounts payable within one year | 42/48 | €30,433 | €253,607 | +€223,174 | +733% |
| Financial debts | 43 | - | €35,000 | +€35,000 | |
| Credit institutions | 430/8 | - | €35,000 | +€35,000 | |
| Trade debts | 44 | €4,748 | €1,596 | -€3,151 | -66.4% |
| Suppliers | 440/4 | €4,748 | €1,596 | -€3,151 | -66.4% |
| Taxes, remuneration and social security | 45 | €25,686 | €16,947 | -€8,738 | -34.0% |
| Taxes | 450/3 | €24,676 | €14,947 | -€9,728 | -39.4% |
| Remuneration and social security | 454/9 | €1,010 | €2,000 | +€990 | +98.0% |
| Other amounts payable | 47/48 | - | €200,064 | +€200,064 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €281 | €347 | +€66 | +23.5% |
| Other operating charges | 640/8 | €591 | €848 | +€257 | +43.5% |
| Gross operating margin | 9900 | €117,690 | €143,350 | +€25,660 | +21.8% |
| Operating profit (loss) | 9901 | €116,818 | €142,155 | +€25,337 | +21.7% |
| Financial income | 75/76B | €676 | €1,359 | +€683 | +101% |
| Recurring financial income | 75 | €676 | €1,359 | +€683 | +101% |
| Financial charges | 65/66B | €48 | €93 | +€45 | +93.7% |
| Recurring financial charges | 65 | €48 | €93 | +€45 | +93.7% |
| Profit (loss) for the period before taxes | 9903 | €117,445 | €143,421 | +€25,975 | +22.1% |
| Income taxes | 67/77 | €24,645 | €31,988 | +€7,344 | +29.8% |
| Profit (loss) for the period | 9904 | €92,801 | €111,432 | +€18,632 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,801 | €111,432 | +€18,632 | +20.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.