BROUWERIJ HOUTSAEGER: 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.
BROUWERIJ HOUTSAEGER
Largest movements
- Cash -€21,180
down €21,180 (-33.0%), from €64,164 to €42,984
mainly Investment in fixed assets (net) (-€66,858) and Net result for the year (-€38,611)
- Tangible fixed assets -€10,616
down €10,616 (-1.3%), from €821,153 to €810,537
of which Land and buildings: -€62,478
- Reserves -€38,611
down €38,611 (-12.5%), from €308,973 to €270,362
of which Distributable reserves: -€38,611
- Other debts -€26,765
down €26,765 (-11.8%), from €226,388 to €199,623
- Debts after one year +€21,272
up €21,272 (+706%), from €3,012 to €24,285
- Trade debts +€10,840
up €10,840 (+73.1%), from €14,820 to €25,661
- Depreciation +€3,779
up €3,779 (+5.1%), from €73,695 to €77,474
- Gross operating margin -€1,533
down €1,533 (-3.3%), from €46,985 to €45,451
- Financial charges +€674
up €674 (+64.4%), from €1,047 to €1,721
- Taxes -€624
down €624 (-88.2%), from €707 to €83
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 | €904,336 | €877,509 | -€26,827 | -3.0% |
| Fixed assets | 21/28 | €821,153 | €810,537 | -€10,616 | -1.3% |
| Tangible fixed assets | 22/27 | €821,153 | €810,537 | -€10,616 | -1.3% |
| Land and buildings | 22 | €785,547 | €723,069 | -€62,478 | -8.0% |
| Plant, machinery and equipment | 23 | €12,447 | €13,230 | +€783 | +6.3% |
| Furniture and vehicles | 24 | €23,159 | €74,238 | +€51,079 | +221% |
| Current assets | 29/58 | €83,183 | €66,972 | -€16,211 | -19.5% |
| Stocks and contracts in progress | 3 | €12,236 | €11,413 | -€823 | -6.7% |
| Stocks | 30/36 | €12,236 | €11,413 | -€823 | -6.7% |
| Amounts receivable within one year | 40/41 | €36 | €2,695 | +€2,659 | +7,325% |
| Trade receivables | 40 | €36 | €54 | +€18 | +50.0% |
| Other amounts receivable | 41 | - | €2,641 | +€2,641 | |
| Cash at bank and in hand | 54/58 | €64,164 | €42,984 | -€21,180 | -33.0% |
| Deferred charges and accrued income | 490/1 | €6,747 | €9,880 | +€3,133 | +46.4% |
| Total equity and liabilities | 10/49 | €904,336 | €877,509 | -€26,827 | -3.0% |
| Equity | 10/15 | €653,973 | €615,362 | -€38,611 | -5.9% |
| Contributions | 10/11 | €345,000 | €345,000 | = | 0.0% |
| Reserves | 13 | €308,973 | €270,362 | -€38,611 | -12.5% |
| Tax-exempt reserves | 132 | €41,162 | €41,162 | = | 0.0% |
| Distributable reserves | 133 | €267,812 | €229,200 | -€38,611 | -14.4% |
| Amounts payable | 17/49 | €250,363 | €262,147 | +€11,784 | +4.7% |
| Amounts payable after more than one year | 17 | €3,012 | €24,285 | +€21,272 | +706% |
| Financial debts | 170/4 | €3,012 | €24,285 | +€21,272 | +706% |
| Amounts payable within one year | 42/48 | €247,350 | €237,862 | -€9,488 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €2,983 | €9,534 | +€6,551 | +220% |
| Trade debts | 44 | €14,820 | €25,661 | +€10,840 | +73.1% |
| Suppliers | 440/4 | €14,820 | €25,661 | +€10,840 | +73.1% |
| Advances received on contracts in progress | 46 | €2,710 | €2,000 | -€710 | -26.2% |
| Taxes, remuneration and social security | 45 | €449 | €1,046 | +€596 | +133% |
| Taxes | 450/3 | €449 | €1,046 | +€596 | +133% |
| Other amounts payable | 47/48 | €226,388 | €199,623 | -€26,765 | -11.8% |
| Non-recurring operating income | 76A | - | €13,223 | +€13,223 | |
| Remuneration, social security and pensions | 62 | -€71 | €0 | +€71 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,695 | €77,474 | +€3,779 | +5.1% |
| Other operating charges | 640/8 | €4,724 | €4,790 | +€66 | +1.4% |
| Gross operating margin | 9900 | €46,985 | €45,451 | -€1,533 | -3.3% |
| Operating profit (loss) | 9901 | -€31,362 | -€36,812 | -€5,450 | -17.4% |
| Financial income | 75/76B | €2 | €5 | +€3 | +126% |
| Recurring financial income | 75 | €2 | €5 | +€3 | +126% |
| Financial charges | 65/66B | €1,047 | €1,721 | +€674 | +64.4% |
| Recurring financial charges | 65 | €1,047 | €1,721 | +€674 | +64.4% |
| Profit (loss) for the period before taxes | 9903 | -€32,407 | -€38,528 | -€6,121 | -18.9% |
| Income taxes | 67/77 | €707 | €83 | -€624 | -88.2% |
| Profit (loss) for the period | 9904 | -€33,114 | -€38,611 | -€5,498 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,114 | -€38,611 | -€5,498 | -16.6% |
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 30 October 2026 via checked.be.