DE BRAUWER: 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.
DE BRAUWER
Largest movements
- Cash -€205,697
down €205,697 (-32.6%), from €631,233 to €425,536
mainly Investment in fixed assets (net) (-€145,886) and Current investments (-€131,095)
- Current investments +€131,095
up €131,095 (+270%), from €48,591 to €179,686
- Receivables within one year -€48,788
down €48,788 (-43.7%), from €111,697 to €62,909
of which Trade receivables: -€80,630
- Stocks and contracts +€31,500
up €31,500 (+78.5%), from €40,102 to €71,602
- Tangible fixed assets +€27,051
up €27,051 (+4.8%), from €561,667 to €588,718
of which Plant, machinery and equipment: +€105,782
- Debts after one year -€88,076
down €88,076 (-35.2%), from €249,944 to €161,868
- Reserves +€44,000
up €44,000 (+4.9%), from €896,250 to €940,250
of which Distributable reserves: +€44,000
- Tax, wage and social debts -€37,391
down €37,391 (-94.0%), from €39,766 to €2,375
- Trade debts +€14,012
up €14,012 (+146%), from €9,566 to €23,579
- Gross operating margin -€68,441
down €68,441 (-18.9%), from €361,628 to €293,187
- Taxes -€31,505
down €31,505 (-40.4%), from €78,043 to €46,538
- Depreciation +€27,554
up €27,554 (+30.2%), from €91,281 to €118,835
- Financial income +€10,015
up €10,015 (+4,060%), from €247 to €10,261
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 | €1,400,835 | €1,336,366 | -€64,469 | -4.6% |
| Fixed assets | 21/28 | €561,915 | €588,966 | +€27,051 | +4.8% |
| Tangible fixed assets | 22/27 | €561,667 | €588,718 | +€27,051 | +4.8% |
| Land and buildings | 22 | €211,360 | €197,155 | -€14,205 | -6.7% |
| Plant, machinery and equipment | 23 | €85,624 | €191,406 | +€105,782 | +124% |
| Furniture and vehicles | 24 | €26,665 | €18,860 | -€7,805 | -29.3% |
| Leasing and similar rights | 25 | €235,481 | €181,297 | -€54,184 | -23.0% |
| Other tangible fixed assets | 26 | €2,537 | €0 | -€2,537 | -100% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €838,920 | €747,400 | -€91,520 | -10.9% |
| Stocks and contracts in progress | 3 | €40,102 | €71,602 | +€31,500 | +78.5% |
| Stocks | 30/36 | €40,102 | €71,602 | +€31,500 | +78.5% |
| Amounts receivable within one year | 40/41 | €111,697 | €62,909 | -€48,788 | -43.7% |
| Trade receivables | 40 | €111,022 | €30,392 | -€80,630 | -72.6% |
| Other amounts receivable | 41 | €675 | €32,517 | +€31,842 | +4,721% |
| Current investments | 50/53 | €48,591 | €179,686 | +€131,095 | +270% |
| Cash at bank and in hand | 54/58 | €631,233 | €425,536 | -€205,697 | -32.6% |
| Deferred charges and accrued income | 490/1 | €7,297 | €7,668 | +€370 | +5.1% |
| Total equity and liabilities | 10/49 | €1,400,835 | €1,336,366 | -€64,469 | -4.6% |
| Equity | 10/15 | €1,016,014 | €1,060,469 | +€44,455 | +4.4% |
| Contributions | 10/11 | €117,600 | €117,600 | = | 0.0% |
| Reserves | 13 | €896,250 | €940,250 | +€44,000 | +4.9% |
| Tax-exempt reserves | 132 | €48,750 | €48,750 | = | 0.0% |
| Distributable reserves | 133 | €847,500 | €891,500 | +€44,000 | +5.2% |
| Profit (loss) carried forward | 14 | €2,164 | €2,619 | +€455 | +21.0% |
| Amounts payable | 17/49 | €384,822 | €275,898 | -€108,924 | -28.3% |
| Amounts payable after more than one year | 17 | €249,944 | €161,868 | -€88,076 | -35.2% |
| Financial debts | 170/4 | €249,944 | €161,868 | -€88,076 | -35.2% |
| Amounts payable within one year | 42/48 | €134,877 | €114,030 | -€20,847 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €85,545 | €88,076 | +€2,531 | +3.0% |
| Trade debts | 44 | €9,566 | €23,579 | +€14,012 | +146% |
| Suppliers | 440/4 | €9,566 | €23,579 | +€14,012 | +146% |
| Taxes, remuneration and social security | 45 | €39,766 | €2,375 | -€37,391 | -94.0% |
| Taxes | 450/3 | €39,766 | €2,375 | -€37,391 | -94.0% |
| Non-recurring operating income | 76A | €8,401 | - | -€8,401 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,281 | €118,835 | +€27,554 | +30.2% |
| Other operating charges | 640/8 | €7,674 | €10,577 | +€2,903 | +37.8% |
| Non-recurring operating charges | 66A | €2,324 | - | -€2,324 | |
| Gross operating margin | 9900 | €361,628 | €293,187 | -€68,441 | -18.9% |
| Operating profit (loss) | 9901 | €260,349 | €163,775 | -€96,574 | -37.1% |
| Financial income | 75/76B | €247 | €10,261 | +€10,015 | +4,060% |
| Recurring financial income | 75 | €247 | €10,261 | +€10,015 | +4,060% |
| Financial charges | 65/66B | €11,313 | €13,044 | +€1,731 | +15.3% |
| Recurring financial charges | 65 | €11,313 | €13,044 | +€1,731 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €249,283 | €160,992 | -€88,291 | -35.4% |
| Income taxes | 67/77 | €78,043 | €46,538 | -€31,505 | -40.4% |
| Profit (loss) for the period | 9904 | €171,240 | €114,455 | -€56,786 | -33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €171,240 | €114,455 | -€56,786 | -33.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.