Broes Naeye: 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.
Broes Naeye
Largest movements
- Cash -€100,679
down €100,679 (-56.2%), from €179,186 to €78,506
mainly Contributions, distributions and other (-€403,306) and Receivables within one year (-€58,945)
- Receivables within one year +€58,945
up €58,945 (+59.4%), from €99,251 to €158,196
of which Trade receivables: +€58,958
- Tangible fixed assets +€55,327
up €55,327 (+1,438%), from €3,849 to €59,176
of which Furniture and vehicles: +€54,687
- Financial fixed assets -€9,000
down €9,000 (-17.9%), from €50,250 to €41,250
- Reserves -€130,485
down €130,485 (-43.0%), from €303,306 to €172,821
- Other debts +€123,337
up €123,337 (+2,170%), from €5,683 to €129,020
- Tax, wage and social debts +€11,605
up €11,605 (+76.2%), from €15,232 to €26,837
of which Taxes: +€11,605
- Gross operating margin +€72,896
up €72,896 (+24.7%), from €294,747 to €367,643
- Taxes +€17,823
up €17,823 (+26.0%), from €68,459 to €86,282
- Depreciation +€3,955
up €3,955 (+225%), from €1,754 to €5,709
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 | €335,626 | €340,941 | +€5,315 | +1.6% |
| Fixed assets | 21/28 | €54,099 | €100,426 | +€46,327 | +85.6% |
| Tangible fixed assets | 22/27 | €3,849 | €59,176 | +€55,327 | +1,438% |
| Plant, machinery and equipment | 23 | €3,446 | €4,086 | +€640 | +18.6% |
| Furniture and vehicles | 24 | €403 | €55,089 | +€54,687 | +13,583% |
| Financial fixed assets | 28 | €50,250 | €41,250 | -€9,000 | -17.9% |
| Current assets | 29/58 | €281,527 | €240,515 | -€41,012 | -14.6% |
| Amounts receivable within one year | 40/41 | €99,251 | €158,196 | +€58,945 | +59.4% |
| Trade receivables | 40 | €98,754 | €157,712 | +€58,958 | +59.7% |
| Other amounts receivable | 41 | €498 | €484 | -€13 | -2.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €179,186 | €78,506 | -€100,679 | -56.2% |
| Deferred charges and accrued income | 490/1 | €3,090 | €3,813 | +€722 | +23.4% |
| Total equity and liabilities | 10/49 | €335,626 | €340,941 | +€5,315 | +1.6% |
| Equity | 10/15 | €313,306 | €182,821 | -€130,485 | -41.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €303,306 | €172,821 | -€130,485 | -43.0% |
| Distributable reserves | 133 | €303,306 | €172,821 | -€130,485 | -43.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,320 | €158,120 | +€135,799 | +608% |
| Amounts payable within one year | 42/48 | €21,900 | €158,085 | +€136,184 | +622% |
| Trade debts | 44 | €985 | €2,227 | +€1,242 | +126% |
| Suppliers | 440/4 | €985 | €2,227 | +€1,242 | +126% |
| Taxes, remuneration and social security | 45 | €15,232 | €26,837 | +€11,605 | +76.2% |
| Taxes | 450/3 | €12,247 | €23,852 | +€11,605 | +94.8% |
| Remuneration and social security | 454/9 | €2,985 | €2,985 | = | 0.0% |
| Other amounts payable | 47/48 | €5,683 | €129,020 | +€123,337 | +2,170% |
| Accrued charges and deferred income | 492/3 | €420 | €35 | -€385 | -91.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,754 | €5,709 | +€3,955 | +225% |
| Other operating charges | 640/8 | €1,934 | €1,794 | -€140 | -7.2% |
| Gross operating margin | 9900 | €294,747 | €367,643 | +€72,896 | +24.7% |
| Operating profit (loss) | 9901 | €291,059 | €360,140 | +€69,081 | +23.7% |
| Financial income | 75/76B | €1,402 | €1 | -€1,401 | -100.0% |
| Recurring financial income | 75 | €1,402 | €1 | -€1,401 | -100.0% |
| Financial charges | 65/66B | €3,378 | €1,037 | -€2,341 | -69.3% |
| Recurring financial charges | 65 | €3,378 | €1,037 | -€2,341 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €289,083 | €359,103 | +€70,021 | +24.2% |
| Income taxes | 67/77 | €68,459 | €86,282 | +€17,823 | +26.0% |
| Profit (loss) for the period | 9904 | €220,623 | €272,821 | +€52,198 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €220,623 | €272,821 | +€52,198 | +23.7% |
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 21 October 2026 via checked.be.