Broun & Wolf: what changed
Two fiscal 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.
Broun & Wolf
Largest movements
- Tangible fixed assets +€515,136
up €515,136 (+122.7%), from €419,970 to €935,106
of which Land and buildings: +€463,167
- Receivables after one year -€128,860
down €128,860 (-79.2%), from €162,676 to €33,816
- Intangible fixed assets +€66,640
new in 2025: €66,640
- Receivables within one year -€61,251
down €61,251 (-49.9%), from €122,649 to €61,398
of which Trade receivables: -€65,643
- Other debts +€372,172
up €372,172 (+304.8%), from €122,117 to €494,289
- Debts after one year +€191,544
up €191,544 (+31.4%), from €609,356 to €800,901
- Short-term financial debts -€129,121
down €129,121 (-86.1%), from €150,000 to €20,879
of which Credit institutions: -€150,000
- Trade debts -€57,233
down €57,233 (-89.2%), from €64,161 to €6,928
- Current portion of long-term debt +€41,824
up €41,824 (+34.7%), from €120,584 to €162,408
- Depreciation +€34,008
up €34,008 (+290.9%), from €11,689 to €45,697
- Gross operating margin -€12,552
down €12,552 (-8.8%), from €142,828 to €130,276
- Taxes -€7,038
down €7,038 (-40.5%), from €17,366 to €10,328
- Financial charges -€6,079
down €6,079 (-8.9%), from €67,972 to €61,893
of which Financial charges: -€6,079
- Other operating charges +€5,593
up €5,593 (+222.9%), from €2,510 to €8,103
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.
Cash bridge derived
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 | €2,090,334 | €2,476,762 | +€386,428 | +18.5% |
| Fixed assets | 21/28 | €1,789,970 | €2,371,745 | +€581,776 | +32.5% |
| Intangible fixed assets | 21 | - | €66,640 | +€66,640 | |
| Tangible fixed assets | 22/27 | €419,970 | €935,106 | +€515,136 | +122.7% |
| Land and buildings | 22 | €409,503 | €872,671 | +€463,167 | +113.1% |
| Plant, machinery and equipment | 23 | €4,656 | €4,658 | +€2 | 0.0% |
| Furniture and vehicles | 24 | €5,810 | €57,777 | +€51,966 | +894.4% |
| Financial fixed assets | 28 | €1,370,000 | €1,370,000 | = | 0.0% |
| Current assets | 29/58 | €300,364 | €105,016 | -€195,348 | -65.0% |
| Amounts receivable after more than one year | 29 | €162,676 | €33,816 | -€128,860 | -79.2% |
| Trade receivables | 290 | €162,676 | €33,816 | -€128,860 | -79.2% |
| Amounts receivable within one year | 40/41 | €122,649 | €61,398 | -€61,251 | -49.9% |
| Trade receivables | 40 | €68,051 | €2,408 | -€65,643 | -96.5% |
| Other amounts receivable | 41 | €54,598 | €58,990 | +€4,392 | +8.0% |
| Cash at bank and in hand | 54/58 | €14,054 | €9,061 | -€4,993 | -35.5% |
| Deferred charges and accrued income | 490/1 | €985 | €741 | -€244 | -24.7% |
| Total equity and liabilities | 10/49 | €2,090,334 | €2,476,762 | +€386,428 | +18.5% |
| Equity | 10/15 | €1,004,494 | €986,788 | -€17,706 | -1.8% |
| Contributions | 10/11 | €950,000 | €950,100 | +€100 | 0.0% |
| Profit (loss) carried forward | 14 | €54,494 | €36,688 | -€17,806 | -32.7% |
| Amounts payable | 17/49 | €1,085,840 | €1,489,973 | +€404,134 | +37.2% |
| Amounts payable after more than one year | 17 | €609,356 | €800,901 | +€191,544 | +31.4% |
| Financial debts | 170/4 | €609,356 | €800,901 | +€191,544 | +31.4% |
| Amounts payable within one year | 42/48 | €476,484 | €689,073 | +€212,589 | +44.6% |
| Current portion of amounts payable after more than one year | 42 | €120,584 | €162,408 | +€41,824 | +34.7% |
| Financial debts | 43 | €150,000 | €20,879 | -€129,121 | -86.1% |
| Credit institutions | 430/8 | €150,000 | €0 | -€150,000 | -100.0% |
| Other loans | 439 | - | €20,879 | +€20,879 | |
| Trade debts | 44 | €64,161 | €6,928 | -€57,233 | -89.2% |
| Suppliers | 440/4 | €64,161 | €6,928 | -€57,233 | -89.2% |
| Taxes, remuneration and social security | 45 | €19,622 | €4,570 | -€15,052 | -76.7% |
| Taxes | 450/3 | €18,444 | €4,570 | -€13,874 | -75.2% |
| Remuneration and social security | 454/9 | €1,178 | - | -€1,178 | |
| Other amounts payable | 47/48 | €122,117 | €494,289 | +€372,172 | +304.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,689 | €45,697 | +€34,008 | +290.9% |
| Other operating charges | 640/8 | €2,510 | €8,103 | +€5,593 | +222.9% |
| Gross operating margin | 9900 | €142,828 | €130,276 | -€12,552 | -8.8% |
| Operating profit (loss) | 9901 | €128,629 | €76,476 | -€52,153 | -40.5% |
| Financial income | 75/76B | €4,252 | €1,071 | -€3,181 | -74.8% |
| Recurring financial income | 75 | €4,252 | €1,071 | -€3,181 | -74.8% |
| Financial charges | 65/66B | €67,972 | €61,893 | -€6,079 | -8.9% |
| Recurring financial charges | 65 | €67,972 | €61,893 | -€6,079 | -8.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €64,909 | €15,654 | -€49,256 | -75.9% |
| Income taxes | 67/77 | €17,366 | €10,328 | -€7,038 | -40.5% |
| Profit (loss) for the period | 9904 | €47,543 | €5,325 | -€42,218 | -88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,543 | €5,325 | -€42,218 | -88.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.