BROTH & BEYOND: 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.
BROTH & BEYOND
Largest movements
- Tangible fixed assets +€740,202
up €740,202 (+496%), from €149,281 to €889,483
of which Leasing and similar rights: +€767,250
- Cash -€355,003
down €355,003 (-47.5%), from €747,760 to €392,758
mainly Investment in fixed assets (net) (-€1.1m) and Contributions, distributions and other (-€150,000)
- Financial fixed assets +€311,171
new in 2025: €311,171
- Receivables within one year +€95,596
up €95,596 (+38.7%), from €247,088 to €342,684
of which Other amounts receivable: +€50,926
- Stocks and contracts +€44,289
up €44,289 (+45.2%), from €97,979 to €142,268
- Debts after one year +€767,250
new in 2025: €767,250
- Profit (loss) carried forward -€237,408
down €237,408 (-100%), from €237,408 to €0
- Other debts +€150,000
up €150,000, from €0 to €150,000
- Reserves +€147,016
up €147,016 (+721%), from €20,390 to €167,405
of which Distributable reserves: +€167,405
- Short-term financial debts +€29,348
new in 2025: €29,348
- Gross operating margin -€225,507
down €225,507 (-43.1%), from €523,567 to €298,060
- Taxes -€78,995
down €78,995, from €78,730 to -€265
- Financial income -€13,415
down €13,415 (-94.7%), from €14,169 to €754
- Other operating charges +€11,715
up €11,715 (+208%), from €5,639 to €17,354
- Depreciation +€6,329
up €6,329 (+12.9%), from €48,922 to €55,251
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 | €1,247,426 | €2,091,398 | +€843,972 | +67.7% |
| Fixed assets | 21/28 | €152,270 | €1,201,992 | +€1.0m | +689% |
| Intangible fixed assets | 21 | €2,989 | €1,337 | -€1,652 | -55.3% |
| Tangible fixed assets | 22/27 | €149,281 | €889,483 | +€740,202 | +496% |
| Plant, machinery and equipment | 23 | €149,281 | €118,918 | -€30,363 | -20.3% |
| Leasing and similar rights | 25 | - | €767,250 | +€767,250 | |
| Assets under construction and advance payments | 27 | - | €3,315 | +€3,315 | |
| Financial fixed assets | 28 | - | €311,171 | +€311,171 | |
| Current assets | 29/58 | €1,095,155 | €889,406 | -€205,749 | -18.8% |
| Stocks and contracts in progress | 3 | €97,979 | €142,268 | +€44,289 | +45.2% |
| Stocks | 30/36 | €97,979 | €142,268 | +€44,289 | +45.2% |
| Amounts receivable within one year | 40/41 | €247,088 | €342,684 | +€95,596 | +38.7% |
| Trade receivables | 40 | €216,415 | €261,085 | +€44,669 | +20.6% |
| Other amounts receivable | 41 | €30,673 | €81,599 | +€50,926 | +166% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €747,760 | €392,758 | -€355,003 | -47.5% |
| Deferred charges and accrued income | 490/1 | €2,328 | €11,697 | +€9,369 | +402% |
| Total equity and liabilities | 10/49 | €1,247,426 | €2,091,398 | +€843,972 | +67.7% |
| Equity | 10/15 | €1,091,798 | €1,001,405 | -€90,393 | -8.3% |
| Contributions | 10/11 | €834,000 | €834,000 | = | 0.0% |
| Capital | 10 | €834,000 | - | -€834,000 | |
| Issued capital | 100 | €834,000 | - | -€834,000 | |
| Reserves | 13 | €20,390 | €167,405 | +€147,016 | +721% |
| Non-distributable reserves | 130/1 | €20,390 | - | -€20,390 | |
| Legal reserve | 130 | €20,390 | - | -€20,390 | |
| Distributable reserves | 133 | - | €167,405 | +€167,405 | |
| Profit (loss) carried forward | 14 | €237,408 | €0 | -€237,408 | -100% |
| Amounts payable | 17/49 | €155,628 | €1,089,993 | +€934,365 | +600% |
| Amounts payable after more than one year | 17 | - | €767,250 | +€767,250 | |
| Financial debts | 170/4 | - | €767,250 | +€767,250 | |
| Amounts payable within one year | 42/48 | €148,794 | €322,743 | +€173,948 | +117% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €29,348 | +€29,348 | |
| Credit institutions | 430/8 | - | €29,348 | +€29,348 | |
| Trade debts | 44 | €130,200 | €117,841 | -€12,359 | -9.5% |
| Suppliers | 440/4 | €130,200 | €117,841 | -€12,359 | -9.5% |
| Taxes, remuneration and social security | 45 | €18,595 | €25,554 | +€6,959 | +37.4% |
| Taxes | 450/3 | €7,103 | €7,463 | +€361 | +5.1% |
| Remuneration and social security | 454/9 | €11,492 | €18,090 | +€6,598 | +57.4% |
| Other amounts payable | 47/48 | €0 | €150,000 | +€150,000 | |
| Accrued charges and deferred income | 492/3 | €6,833 | €0 | -€6,833 | -100% |
| Remuneration, social security and pensions | 62 | €156,915 | €161,881 | +€4,966 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,922 | €55,251 | +€6,329 | +12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €369 | +€369 | |
| Other operating charges | 640/8 | €5,639 | €17,354 | +€11,715 | +208% |
| Gross operating margin | 9900 | €523,567 | €298,060 | -€225,507 | -43.1% |
| Operating profit (loss) | 9901 | €312,090 | €63,204 | -€248,886 | -79.7% |
| Financial income | 75/76B | €14,169 | €754 | -€13,415 | -94.7% |
| Recurring financial income | 75 | €14,169 | €754 | -€13,415 | -94.7% |
| Financial charges | 65/66B | €4,257 | €4,615 | +€358 | +8.4% |
| Recurring financial charges | 65 | €4,257 | €4,615 | +€358 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €322,002 | €59,343 | -€262,659 | -81.6% |
| Income taxes | 67/77 | €78,730 | -€265 | -€78,995 | |
| Profit (loss) for the period | 9904 | €243,271 | €59,607 | -€183,664 | -75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €243,271 | €59,607 | -€183,664 | -75.5% |
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 14 October 2026 via checked.be.