BROWNING: 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.
BROWNING
Largest movements
- Cash +€36.9m
up €36.9m (+799.9%), from €4.6m to €41.5m
mainly Net result for the year (+€56.3m) and Other debts (+€30.6m)
- Receivables after one year -€4.1m
down €4.1m (-19.7%), from €20.6m to €16.5m
- Other debts +€30.6m
up €30.6m (+131.1%), from €23.4m to €54.0m
- Reserves +€2.8m
up €2.8m (+56.1%), from €5.0m to €7.8m
- Financial income +€32.7m
up €32.7m (+130.7%), from €25.1m to €57.8m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €171,375,890 | €204,294,725 | +€32.9m | +19.2% |
| Fixed assets | 21/28 | €142,052,569 | €142,052,569 | = | 0.0% |
| Financial fixed assets | 28 | €142,052,569 | €142,052,569 | = | 0.0% |
| Affiliated companies | 280/1 | €142,052,569 | €142,052,569 | = | 0.0% |
| Participating interests | 280 | €142,052,569 | €142,052,569 | = | 0.0% |
| Current assets | 29/58 | €29,323,321 | €62,242,156 | +€32.9m | +112.3% |
| Amounts receivable after more than one year | 29 | €20,550,000 | €16,500,000 | -€4.1m | -19.7% |
| Other amounts receivable | 291 | €20,550,000 | €16,500,000 | -€4.1m | -19.7% |
| Amounts receivable within one year | 40/41 | €4,157,955 | €4,209,913 | +€51,958 | +1.2% |
| Other amounts receivable | 41 | €4,157,955 | €4,209,913 | +€51,958 | +1.2% |
| Cash at bank and in hand | 54/58 | €4,615,366 | €41,532,243 | +€36.9m | +799.9% |
| Total equity and liabilities | 10/49 | €171,375,890 | €204,294,725 | +€32.9m | +19.2% |
| Equity | 10/15 | €112,937,277 | €115,244,669 | +€2.3m | +2.0% |
| Contributions | 10/11 | €107,176,099 | €107,176,099 | = | 0.0% |
| Capital | 10 | €107,176,099 | €107,176,099 | = | 0.0% |
| Issued capital | 100 | €107,176,099 | €107,176,099 | = | 0.0% |
| Reserves | 13 | €5,022,650 | €7,838,019 | +€2.8m | +56.1% |
| Non-distributable reserves | 130/1 | €5,022,650 | €7,838,019 | +€2.8m | +56.1% |
| Legal reserve | 130 | €5,022,650 | €7,838,019 | +€2.8m | +56.1% |
| Profit (loss) carried forward | 14 | €738,528 | €230,551 | -€507,977 | -68.8% |
| Amounts payable | 17/49 | €58,438,613 | €89,050,056 | +€30.6m | +52.4% |
| Amounts payable after more than one year | 17 | €35,000,000 | €35,000,000 | = | 0.0% |
| Financial debts | 170/4 | €35,000,000 | €35,000,000 | = | 0.0% |
| Other loans | 174 | €35,000,000 | €35,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €23,363,258 | €54,000,047 | +€30.6m | +131.1% |
| Other amounts payable | 47/48 | €23,363,258 | €54,000,047 | +€30.6m | +131.1% |
| Accrued charges and deferred income | 492/3 | €75,355 | €50,009 | -€25,346 | -33.6% |
| Operating charges | 60/66A | €6,944 | €14,509 | +€7,565 | +108.9% |
| Services and other goods | 61 | €6,944 | €14,509 | +€7,565 | +108.9% |
| Operating profit (loss) | 9901 | -€6,944 | -€14,509 | -€7,565 | -108.9% |
| Financial income | 75/76B | €25,052,522 | €57,785,678 | +€32.7m | +130.7% |
| Recurring financial income | 75 | €25,052,522 | €57,785,678 | +€32.7m | +130.7% |
| Income from financial fixed assets | 750 | €24,000,000 | €56,483,320 | +€32.5m | +135.3% |
| Income from current assets | 751 | €1,052,522 | €1,302,358 | +€249,836 | +23.7% |
| Financial charges | 65/66B | €1,639,201 | €1,463,777 | -€175,425 | -10.7% |
| Recurring financial charges | 65 | €1,639,201 | €1,463,777 | -€175,425 | -10.7% |
| Debt charges | 650 | €1,638,236 | €1,462,781 | -€175,455 | -10.7% |
| Other financial charges | 652/9 | €966 | €996 | +€30 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €23,406,376 | €56,307,393 | +€32.9m | +140.6% |
| Profit (loss) for the period | 9904 | €23,406,376 | €56,307,393 | +€32.9m | +140.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,406,376 | €56,307,393 | +€32.9m | +140.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.