BROW: 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.
BROW
Largest movements
- Cash +€42,951
up €42,951 (+310.8%), from €13,819 to €56,770
mainly Net result for the year (+€38,940) and Receivables within one year (+€10,845)
- Receivables within one year -€10,845
down €10,845 (-33.5%), from €32,354 to €21,509
of which Trade receivables: -€12,671
- Current investments +€10,000
up €10,000 (+15.4%), from €65,000 to €75,000
- Tangible fixed assets -€7,724
down €7,724 (-33.3%), from €23,219 to €15,494
- Reserves +€38,940
up €38,940 (+36.9%), from €105,640 to €144,579
- Tax, wage and social debts -€4,447
down €4,447 (-45.8%), from €9,710 to €5,263
- Gross operating margin -€7,680
down €7,680 (-11.5%), from €66,786 to €59,106
- Taxes -€1,572
down €1,572 (-11.6%), from €13,547 to €11,975
- Other operating charges +€788
up €788 (+154.1%), from €511 to €1,299
- Financial income +€771
up €771 (+719.1%), from €107 to €878
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 | €135,822 | €170,465 | +€34,643 | +25.5% |
| Fixed assets | 21/28 | €23,219 | €15,494 | -€7,724 | -33.3% |
| Tangible fixed assets | 22/27 | €23,219 | €15,494 | -€7,724 | -33.3% |
| Furniture and vehicles | 24 | €23,219 | €15,494 | -€7,724 | -33.3% |
| Current assets | 29/58 | €112,603 | €154,970 | +€42,367 | +37.6% |
| Amounts receivable within one year | 40/41 | €32,354 | €21,509 | -€10,845 | -33.5% |
| Trade receivables | 40 | €25,869 | €13,198 | -€12,671 | -49.0% |
| Other amounts receivable | 41 | €6,485 | €8,311 | +€1,826 | +28.2% |
| Current investments | 50/53 | €65,000 | €75,000 | +€10,000 | +15.4% |
| Cash at bank and in hand | 54/58 | €13,819 | €56,770 | +€42,951 | +310.8% |
| Deferred charges and accrued income | 490/1 | €1,430 | €1,692 | +€262 | +18.3% |
| Total equity and liabilities | 10/49 | €135,822 | €170,465 | +€34,643 | +25.5% |
| Equity | 10/15 | €125,640 | €164,579 | +€38,940 | +31.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €105,640 | €144,579 | +€38,940 | +36.9% |
| Distributable reserves | 133 | €105,640 | €144,579 | +€38,940 | +36.9% |
| Amounts payable | 17/49 | €10,182 | €5,885 | -€4,297 | -42.2% |
| Amounts payable within one year | 42/48 | €10,182 | €5,885 | -€4,297 | -42.2% |
| Trade debts | 44 | €344 | €279 | -€65 | -18.8% |
| Suppliers | 440/4 | €344 | €279 | -€65 | -18.8% |
| Taxes, remuneration and social security | 45 | €9,710 | €5,263 | -€4,447 | -45.8% |
| Taxes | 450/3 | €9,710 | €5,263 | -€4,447 | -45.8% |
| Other amounts payable | 47/48 | €128 | €343 | +€215 | +168.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,724 | €7,724 | = | 0.0% |
| Other operating charges | 640/8 | €511 | €1,299 | +€788 | +154.1% |
| Gross operating margin | 9900 | €66,786 | €59,106 | -€7,680 | -11.5% |
| Operating profit (loss) | 9901 | €58,550 | €50,082 | -€8,468 | -14.5% |
| Financial income | 75/76B | €107 | €878 | +€771 | +719.1% |
| Recurring financial income | 75 | €107 | €878 | +€771 | +719.1% |
| Financial charges | 65/66B | €43 | €46 | +€3 | +7.3% |
| Recurring financial charges | 65 | €43 | €46 | +€3 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €58,615 | €50,914 | -€7,700 | -13.1% |
| Income taxes | 67/77 | €13,547 | €11,975 | -€1,572 | -11.6% |
| Profit (loss) for the period | 9904 | €45,068 | €38,940 | -€6,128 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,068 | €38,940 | -€6,128 | -13.6% |
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 7 October 2026 via checked.be.