BROVAN: 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.
BROVAN
Largest movements
- Current investments -€64,000
down €64,000 (-88.3%), from €72,500 to €8,500
- Stocks and contracts +€51,090
up €51,090 (+40.8%), from €125,110 to €176,200
- Cash -€34,938
down €34,938 (-10.3%), from €340,577 to €305,639
mainly Contributions, distributions and other (-€820,000) and Stocks and contracts (-€51,090)
- Deferred charges and accrued income +€25,629
up €25,629 (+561.6%), from €4,564 to €30,193
- Receivables within one year -€21,438
down €21,438 (-7.1%), from €301,790 to €280,352
of which Trade receivables: -€35,999
- Reserves -€300,000
down €300,000 (-52.6%), from €570,000 to €270,000
- Other debts +€166,626
up €166,626 (+83.3%), from €200,000 to €366,626
- Trade debts +€61,019
up €61,019 (+77.5%), from €78,757 to €139,776
- Tax, wage and social debts +€33,235
up €33,235 (+241.3%), from €13,776 to €47,011
of which Taxes: +€32,020
- Profit (loss) carried forward -€25,989
down €25,989 (-42.2%), from €61,547 to €35,558
- Gross operating margin +€282,132
up €282,132 (+26.4%), from €1.1m to €1.4m
- Staff costs +€56,511
up €56,511 (+7.8%), from €724,670 to €781,181
- Financial income +€38,217
up €38,217 (+195.1%), from €19,593 to €57,810
- Taxes +€32,094
up €32,094 (+106.8%), from €30,041 to €62,135
- Financial charges +€23,221
up €23,221 (+62.7%), from €37,050 to €60,271
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 | €942,673 | €877,563 | -€65,109 | -6.9% |
| Fixed assets | 21/28 | €98,131 | €76,679 | -€21,453 | -21.9% |
| Tangible fixed assets | 22/27 | €26,485 | €19,713 | -€6,772 | -25.6% |
| Plant, machinery and equipment | 23 | €471 | €137 | -€334 | -70.9% |
| Furniture and vehicles | 24 | €10,878 | €6,990 | -€3,887 | -35.7% |
| Other tangible fixed assets | 26 | €15,137 | €12,585 | -€2,551 | -16.9% |
| Financial fixed assets | 28 | €71,646 | €56,966 | -€14,680 | -20.5% |
| Current assets | 29/58 | €844,541 | €800,885 | -€43,657 | -5.2% |
| Stocks and contracts in progress | 3 | €125,110 | €176,200 | +€51,090 | +40.8% |
| Stocks | 30/36 | €125,110 | €176,200 | +€51,090 | +40.8% |
| Amounts receivable within one year | 40/41 | €301,790 | €280,352 | -€21,438 | -7.1% |
| Trade receivables | 40 | €268,015 | €232,016 | -€35,999 | -13.4% |
| Other amounts receivable | 41 | €33,776 | €48,337 | +€14,561 | +43.1% |
| Current investments | 50/53 | €72,500 | €8,500 | -€64,000 | -88.3% |
| Cash at bank and in hand | 54/58 | €340,577 | €305,639 | -€34,938 | -10.3% |
| Deferred charges and accrued income | 490/1 | €4,564 | €30,193 | +€25,629 | +561.6% |
| Total equity and liabilities | 10/49 | €942,673 | €877,563 | -€65,109 | -6.9% |
| Equity | 10/15 | €650,140 | €324,150 | -€325,989 | -50.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €570,000 | €270,000 | -€300,000 | -52.6% |
| Distributable reserves | 133 | €570,000 | €270,000 | -€300,000 | -52.6% |
| Profit (loss) carried forward | 14 | €61,547 | €35,558 | -€25,989 | -42.2% |
| Amounts payable | 17/49 | €292,533 | €553,413 | +€260,880 | +89.2% |
| Amounts payable within one year | 42/48 | €292,533 | €553,413 | +€260,880 | +89.2% |
| Trade debts | 44 | €78,757 | €139,776 | +€61,019 | +77.5% |
| Suppliers | 440/4 | €78,757 | €139,776 | +€61,019 | +77.5% |
| Taxes, remuneration and social security | 45 | €13,776 | €47,011 | +€33,235 | +241.3% |
| Taxes | 450/3 | €4,901 | €36,921 | +€32,020 | +653.3% |
| Remuneration and social security | 454/9 | €8,874 | €10,090 | +€1,215 | +13.7% |
| Other amounts payable | 47/48 | €200,000 | €366,626 | +€166,626 | +83.3% |
| Remuneration, social security and pensions | 62 | €724,670 | €781,181 | +€56,511 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,739 | €6,772 | -€2,967 | -30.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,967 | - | +€13,967 | |
| Other operating charges | 640/8 | €23,682 | €5,865 | -€17,817 | -75.2% |
| Gross operating margin | 9900 | €1,070,293 | €1,352,425 | +€282,132 | +26.4% |
| Operating profit (loss) | 9901 | €326,168 | €558,607 | +€232,439 | +71.3% |
| Financial income | 75/76B | €19,593 | €57,810 | +€38,217 | +195.1% |
| Recurring financial income | 75 | €19,593 | €57,810 | +€38,217 | +195.1% |
| Financial charges | 65/66B | €37,050 | €60,271 | +€23,221 | +62.7% |
| Recurring financial charges | 65 | €37,050 | €60,271 | +€23,221 | +62.7% |
| Profit (loss) for the period before taxes | 9903 | €308,711 | €556,146 | +€247,435 | +80.2% |
| Income taxes | 67/77 | €30,041 | €62,135 | +€32,094 | +106.8% |
| Profit (loss) for the period | 9904 | €278,670 | €494,011 | +€215,341 | +77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €278,670 | €494,011 | +€215,341 | +77.3% |
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 4 October 2026 via checked.be.