BROWN'S: 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.
BROWN'S
Largest movements
- Receivables within one year -€18,094
down €18,094 (-61.7%), from €29,345 to €11,251
of which Trade receivables: -€20,094
- Tangible fixed assets -€2,640
down €2,640 (-27.9%), from €9,474 to €6,835
of which Furniture and vehicles: -€2,774
- Cash +€997
up €997 (+119.1%), from €837 to €1,833
mainly Receivables within one year (+€18,094) and Investment in fixed assets (net) (+€1,554)
- Deferred charges and accrued income -€427
down €427 (-54.2%), from €788 to €361
- Reserves -€7,579
no longer reported in 2025 (was €7,579)
- Profit (loss) carried forward -€5,939
down €5,939 (-6.0%), from -€99,103 to -€105,042
- Tax, wage and social debts -€3,566
down €3,566 (-61.5%), from €5,803 to €2,237
- Debts after one year -€2,425
down €2,425 (-2.7%), from €89,694 to €87,269
- Trade debts -€872
down €872 (-6.7%), from €13,087 to €12,215
- Gross operating margin -€31,472
down €31,472, from €20,699 to -€10,773
- Depreciation -€4,771
down €4,771 (-81.5%), from €5,857 to €1,085
- Taxes -€3,205
no longer reported in 2025 (was €3,205)
- Other operating charges -€1,109
down €1,109 (-66.0%), from €1,678 to €570
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 | €40,659 | €20,279 | -€20,380 | -50.1% |
| Fixed assets | 21/28 | €9,474 | €6,835 | -€2,640 | -27.9% |
| Tangible fixed assets | 22/27 | €9,474 | €6,835 | -€2,640 | -27.9% |
| Plant, machinery and equipment | 23 | €6,700 | €6,835 | +€134 | +2.0% |
| Furniture and vehicles | 24 | €2,774 | - | -€2,774 | |
| Current assets | 29/58 | €31,185 | €13,445 | -€17,740 | -56.9% |
| Stocks and contracts in progress | 3 | €215 | - | -€215 | |
| Stocks | 30/36 | €215 | - | -€215 | |
| Amounts receivable within one year | 40/41 | €29,345 | €11,251 | -€18,094 | -61.7% |
| Trade receivables | 40 | €29,345 | €9,251 | -€20,094 | -68.5% |
| Other amounts receivable | 41 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €837 | €1,833 | +€997 | +119.1% |
| Deferred charges and accrued income | 490/1 | €788 | €361 | -€427 | -54.2% |
| Total equity and liabilities | 10/49 | €40,659 | €20,279 | -€20,380 | -50.1% |
| Equity | 10/15 | -€72,924 | -€86,442 | -€13,518 | -18.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,579 | - | -€7,579 | |
| Tax-exempt reserves | 132 | €7,579 | - | -€7,579 | |
| Profit (loss) carried forward | 14 | -€99,103 | -€105,042 | -€5,939 | -6.0% |
| Amounts payable | 17/49 | €113,583 | €106,721 | -€6,862 | -6.0% |
| Amounts payable after more than one year | 17 | €89,694 | €87,269 | -€2,425 | -2.7% |
| Financial debts | 170/4 | €89,694 | €87,269 | -€2,425 | -2.7% |
| Amounts payable within one year | 42/48 | €23,890 | €19,452 | -€4,437 | -18.6% |
| Trade debts | 44 | €13,087 | €12,215 | -€872 | -6.7% |
| Suppliers | 440/4 | €13,087 | €12,215 | -€872 | -6.7% |
| Taxes, remuneration and social security | 45 | €5,803 | €2,237 | -€3,566 | -61.5% |
| Taxes | 450/3 | €5,803 | €2,237 | -€3,566 | -61.5% |
| Other amounts payable | 47/48 | €5,000 | €5,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,857 | €1,085 | -€4,771 | -81.5% |
| Other operating charges | 640/8 | €1,678 | €570 | -€1,109 | -66.0% |
| Non-recurring operating charges | 66A | - | €1,041 | +€1,041 | |
| Gross operating margin | 9900 | €20,699 | -€10,773 | -€31,472 | |
| Operating profit (loss) | 9901 | €13,164 | -€13,469 | -€26,633 | |
| Financial income | 75/76B | €22 | €1 | -€21 | -96.4% |
| Recurring financial income | 75 | €22 | €1 | -€21 | -96.4% |
| Financial charges | 65/66B | €79 | €49 | -€30 | -37.9% |
| Recurring financial charges | 65 | €79 | €49 | -€30 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €13,107 | -€13,518 | -€26,624 | |
| Income taxes | 67/77 | €3,205 | - | -€3,205 | |
| Profit (loss) for the period | 9904 | €9,901 | -€13,518 | -€23,419 | |
| Transfer from tax-exempt reserves | 789 | - | €7,579 | +€7,579 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,901 | -€5,939 | -€15,840 |
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 29 September 2026 via checked.be.