ADRIAEN BROUWER: 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.
What changed
ADRIAEN BROUWER
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,097
2024 · -€189+€2,285
Equity
€49,094
2024 · €46,997+€2,097
Cash
€495
2024 · €774-€280
Balance sheet total
€227,892
2024 · €238,808-€10,916
Largest movements
Assets
- Tangible fixed assets -€9,068
down €9,068 (-4.2%), from €218,105 to €209,037
Equity and liabilities
- Debts after one year -€14,589
down €14,589 (-11.5%), from €126,533 to €111,944
- Profit (loss) carried forward +€4,339
up €4,339 (+11.0%), from -€39,427 to -€35,088
- Other debts +€2,798
up €2,798 (+12.2%), from €23,016 to €25,815
Income statement
- Gross operating margin +€3,873
up €3,873 (+30.9%), from €12,546 to €16,418
- Financial charges +€1,536
up €1,536 (+53.8%), from €2,858 to €4,394
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.
Result 2024
-€189
Gross operating margin
+€3,873
Other operating charges
-€51
Financial income
-€0
Financial charges
-€1,536
Result 2025
€2,097
raises the resultlowers the result
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.
From operations
+€14,500
Investment
-€431
Financing
-€14,349
Cash 2024
€774
From operations (derived)
+€14,500
Net result for the year
+€2,097
Depreciation
+€9,068
Deferred charges and accrued income
+€2,000
Provisions
-€1,154
Trade debts
+€377
Tax, wage and social debts
+€518
Other debts
+€2,798
Accrued charges and deferred income
-€1,203
Investment (derived)
-€431
Investment in fixed assets (net)
-€431
Financing
-€14,349
Debts after one year
-€14,589
Current portion of long-term debt
+€240
Cash 2025
€495
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €238,808 | €227,892 | -€10,916 | -4.6% |
| Fixed assets | 21/28 | €219,174 | €210,537 | -€8,637 | -3.9% |
| Tangible fixed assets | 22/27 | €218,105 | €209,037 | -€9,068 | -4.2% |
| Land and buildings | 22 | €218,105 | €209,037 | -€9,068 | -4.2% |
| Financial fixed assets | 28 | €1,069 | €1,500 | +€431 | +40.3% |
| Current assets | 29/58 | €19,634 | €17,355 | -€2,280 | -11.6% |
| Current investments | 50/53 | €10 | €10 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €774 | €495 | -€280 | -36.1% |
| Deferred charges and accrued income | 490/1 | €18,850 | €16,850 | -€2,000 | -10.6% |
| Total equity and liabilities | 10/49 | €238,808 | €227,892 | -€10,916 | -4.6% |
| Equity | 10/15 | €46,997 | €49,094 | +€2,097 | +4.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €61,424 | €59,182 | -€2,242 | -3.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €47,829 | €45,587 | -€2,242 | -4.7% |
| Distributable reserves | 133 | €13,595 | €13,595 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,427 | -€35,088 | +€4,339 | +11.0% |
| Provisions and deferred taxes | 16 | €24,632 | €23,478 | -€1,154 | -4.7% |
| Deferred taxes | 168 | €24,632 | €23,478 | -€1,154 | -4.7% |
| Amounts payable | 17/49 | €167,179 | €155,320 | -€11,859 | -7.1% |
| Amounts payable after more than one year | 17 | €126,533 | €111,944 | -€14,589 | -11.5% |
| Financial debts | 170/4 | €126,533 | €111,944 | -€14,589 | -11.5% |
| Amounts payable within one year | 42/48 | €39,443 | €43,376 | +€3,933 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €14,349 | €14,589 | +€240 | +1.7% |
| Trade debts | 44 | €1,579 | €1,956 | +€377 | +23.9% |
| Suppliers | 440/4 | €1,579 | €1,956 | +€377 | +23.9% |
| Taxes, remuneration and social security | 45 | €499 | €1,017 | +€518 | +104% |
| Taxes | 450/3 | €499 | €1,017 | +€518 | +104% |
| Other amounts payable | 47/48 | €23,016 | €25,815 | +€2,798 | +12.2% |
| Accrued charges and deferred income | 492/3 | €1,203 | €0 | -€1,203 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,068 | €9,068 | = | 0.0% |
| Other operating charges | 640/8 | €1,963 | €2,014 | +€51 | +2.6% |
| Gross operating margin | 9900 | €12,546 | €16,418 | +€3,873 | +30.9% |
| Operating profit (loss) | 9901 | €1,515 | €5,336 | +€3,821 | +252% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €2,858 | €4,394 | +€1,536 | +53.8% |
| Recurring financial charges | 65 | €2,858 | €4,394 | +€1,536 | +53.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,343 | €942 | +€2,285 | |
| Transfer from deferred taxes | 780 | €1,154 | €1,154 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€189 | €2,097 | +€2,285 | |
| Transfer from tax-exempt reserves | 789 | €2,242 | €2,242 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,054 | €4,339 | +€2,285 | +111% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.