DE BROUWER
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 11-07-2026 at the NBB all 32 filings
Turnover
€260,354▲ 5.6%
2024 · €246,582
EBIT margin
5.2%▲ 2.0pp
2024 · 3.2%
Net result
€13,623▲ 81.4%
2024 · €7,509
Working capital
Not included in this filing
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€260,354
▲ 5.6%
2025
20182025
Operating result
€13,663
▲ 71.2%
2025
20182025
Net result
€13,623
▲ 81.4%
2025
20182025
EBIT margin
5.2%
▲ 2.0pp
2025
20182025
Equity
€225,275
▲ 6.4%
2025
20182025
Total assets
€225,275
▲ 6.4%
2025
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€249,739-€249,780=€240,748▼ 3.6%€231,891▼ 3.7%€238,737▲ 3.0%€239,367▲ 0.3%€246,582▲ 3.0%€260,354▲ 5.6%
Operating result-€17,355-€6,805-€1,233-€7,237▼ 487%-€762▲ 89.5%-€2,229▼ 193%€7,983€13,663▲ 71.2%
Net result-€17,847-€5,771-€1,707-€6,453▼ 278%-€987▲ 84.7%-€2,017▼ 104%€7,509€13,623▲ 81.4%
EBIT margin-6.9%-2.7%▲ 9.7pp-0.5%▼ 3.2pp-3.1%▼ 2.6pp-0.3%▲ 2.8pp-0.9%▼ 0.6pp3.2%▲ 4.2pp5.2%▲ 2.0pp
Equity€209,537-€215,308▲ 2.8%€213,600▼ 0.8%€207,147▼ 3.0%€206,160▼ 0.5%€204,143▼ 1.0%€211,652▲ 3.7%€225,275▲ 6.4%
Total assets€211,726-€216,672▲ 2.3%€214,965▼ 0.8%€207,147▼ 3.6%€206,160▼ 0.5%€204,143▼ 1.0%€211,652▲ 3.7%€225,275▲ 6.4%
Staff (FTE)0.5-
The operating result for 2025 is 71% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €225,275
Fixed assets
€30,987 ▼ 5.2%
Current assets
€194,288 ▲ 8.6%
Key figures and ratios
EBITDA
€15,377▲
2024 · €13,717
Cash flow
€15,337▲
2024 · €13,243
Solvency
100.0%=
2024 · 100.0%
ROE
6.0%▲
2024 · 3.5%
ROA
6.0%▲
2024 · 3.5%
Interest coverage
18.75▼
2024 · 19.00
Income taxes
€335▲
2024 · €90
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Subsidies and aid
Flemish government
2023 to 2025 · 4 entries · €2,116 awarded · €2,164 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €2,066 | €2,066 |
| 2024 | 1 | €50 | €50 |
| 2023 | 1 | €0 | €48 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €249,739 | €249,780 | €240,748 | €231,891 | €238,737 | €239,367 | €246,582 | €260,354 | ▲ 5.6% |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €6,198 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €225,919 | €228,511 | €230,551 | €225,502 | €241,822 | ▲ 7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,258 | €10,874 | €7,988 | €7,726 | €5,734 | €5,734 | €5,734 | €1,714 | ▼ 70.1% |
| Other operating charges640/8 | - | - | - | €5,483 | €5,253 | €5,311 | €7,363 | €9,353 | ▲ 27.0% |
| Gross operating margin9900 | €32,810 | €36,734 | €12,990 | €5,972 | €10,225 | €8,816 | €21,080 | €24,730 | ▲ 17.3% |
| Operating profit (loss)9901 | -€17,355 | €6,805 | -€1,233 | -€7,237 | -€762 | -€2,229 | €7,983 | €13,663 | ▲ 71.2% |
| Financial income75/76B | - | - | - | €1,451 | €431 | €938 | €338 | €1,115 | ▲ 230% |
| Recurring financial income75 | €147 | €148 | €156 | €87 | €138 | €688 | €338 | €1,115 | ▲ 230% |
| Non-recurring financial income76B | - | - | - | €1,364 | €293 | €250 | €0 | - | - |
| Financial charges65/66B | - | - | - | €665 | €649 | €623 | €722 | €820 | ▲ 13.6% |
| Recurring financial charges65 | €634 | €646 | €698 | €665 | €649 | €623 | €722 | €820 | ▲ 13.6% |
| Profit (loss) for the period before taxes9903 | -€17,842 | €5,771 | -€1,707 | -€6,451 | -€980 | -€1,914 | €7,599 | €13,958 | ▲ 83.7% |
| Income taxes67/77 | €5 | €0 | - | €2 | €7 | €103 | €90 | €335 | ▲ 272% |
| Profit (loss) for the period9904 | -€17,847 | €5,771 | -€1,707 | -€6,453 | -€987 | -€2,017 | €7,509 | €13,623 | ▲ 81.4% |
| Profit (loss) for the period to be appropriated9905 | -€17,847 | €5,771 | -€1,707 | -€6,453 | -€987 | -€2,017 | €7,509 | €13,623 | ▲ 81.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €211,726 | €216,672 | €214,965 | €207,147 | €206,160 | €204,143 | €211,652 | €225,275 | ▲ 6.4% |
| Fixed assets21/28 | €70,764 | €65,618 | €57,629 | €49,903 | €44,169 | €38,435 | €32,701 | €30,987 | ▼ 5.2% |
| Intangible fixed assets21 | - | €0 | - | - | - | - | €0 | €0 | - |
| Tangible fixed assets22/27 | €70,516 | €65,618 | €57,629 | €49,903 | €44,169 | €38,435 | €32,701 | €30,987 | ▼ 5.2% |
| Land and buildings22 | - | - | - | €49,903 | €44,169 | €38,435 | €32,701 | €30,987 | ▼ 5.2% |
| Financial fixed assets28 | €248 | €0 | - | - | - | - | €0 | - | - |
| Current assets29/58 | €140,962 | €151,054 | €157,336 | €157,244 | €161,991 | €165,708 | €178,951 | €194,288 | ▲ 8.6% |
| Amounts receivable after more than one year29 | - | - | - | - | €14,417 | €14,976 | €14,910 | €15,640 | ▲ 4.9% |
| Trade receivables290 | - | - | - | - | €14,417 | €14,976 | €14,910 | €15,640 | ▲ 4.9% |
| Amounts receivable within one year40/41 | €72,322 | €80,112 | €10,489 | €11,828 | - | - | - | - | - |
| Trade receivables40 | - | - | - | €11,828 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €68,640 | €70,942 | €146,847 | €145,416 | €147,574 | €150,732 | €164,041 | €178,648 | ▲ 8.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €211,726 | €216,672 | €214,965 | €207,147 | €206,160 | €204,143 | €211,652 | €225,275 | ▲ 6.4% |
| Equity10/15 | €209,537 | €215,308 | €213,600 | €207,147 | €206,160 | €204,143 | €211,652 | €225,275 | ▲ 6.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Non-distributable reserves130/1 | - | - | - | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Legal reserve130 | - | - | - | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Profit (loss) carried forward14 | €135,142 | €140,913 | €139,205 | €132,752 | €131,765 | €129,748 | €137,257 | €150,880 | ▲ 9.9% |
| Provisions and deferred taxes16 | €2,189 | €1,364 | €1,365 | - | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,847 | €5,771 | -€1,707 | -€6,453 | -€987 | -€2,017 | €7,509 | €13,623 | ▲ 81.4% |
| + Depreciation and write-downs630 | €13,258 | €10,874 | €7,988 | €7,726 | €5,734 | €5,734 | €5,734 | €1,714 | ▼ 70.1% |
| Operating cash flow (approximation) | -€4,589 | €16,645 | €6,281 | €1,273 | €4,747 | €3,717 | €13,243 | €15,337 | ▲ 15.8% |
| Investment in fixed assets (approximation) | - | -€5,728 | €1 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €2,302 | €75,905 | -€1,431 | €2,158 | €3,158 | €13,309 | €14,607 | ▲ 9.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as DE BROUWER has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DE BROUWER itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for DE BROUWER. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 11-07-2026 | 2026-00281721 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00223583 | |
| 31-12-2023 | micro format | 11-07-2024 | 2024-00235096 | |
| 31-12-2022 | micro format | 06-07-2023 | 2023-00212563 | |
| 31-12-2021 | micro format | 19-07-2022 | 2022-20208469 | |
| 31-12-2020 | micro format | 15-07-2021 | 2021-35300553 | |
| 31-12-2019 | micro format | 16-07-2020 | 2020-30300209 | |
| 31-12-2018 | micro format | 05-07-2019 | 2019-28700424 | |
| 31-12-2017 | abbreviated format | 03-07-2018 | 2018-27500033 | |
| 31-12-2016 | abbreviated format | 04-07-2017 | 2017-26500012 |