DE BROUWER MANAGEMENT: 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 BROUWER MANAGEMENT
Largest movements
- Financial fixed assets +€364,140
new in 2025: €364,140
- Receivables within one year +€24,268
up €24,268 (+128%), from €18,923 to €43,192
of which Other amounts receivable: +€25,548
- Tangible fixed assets -€9,641
down €9,641 (-31.6%), from €30,492 to €20,851
- Cash +€5,040
up €5,040 (+21.9%), from €23,023 to €28,064
mainly Debts after one year (+€220,000) and Net result for the year (+€113,765)
- Debts after one year +€220,000
new in 2025: €220,000
of which Financial debts: +€180,000
- Reserves +€113,765
up €113,765 (+172%), from €66,289 to €180,054
- Short-term financial debts +€40,000
new in 2025: €40,000
- Other debts +€9,338
new in 2025: €9,338
- Financial income +€86,778
new in 2025: €86,778
- Gross operating margin +€23,696
up €23,696 (+57.4%), from €41,282 to €64,978
- Financial charges +€11,405
up €11,405 (+4,749%), from €240 to €11,645
- Taxes +€6,523
up €6,523 (+69.6%), from €9,379 to €15,902
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 | €72,600 | €456,246 | +€383,646 | +528% |
| Fixed assets | 21/28 | €30,492 | €384,991 | +€354,499 | +1,163% |
| Tangible fixed assets | 22/27 | €30,492 | €20,851 | -€9,641 | -31.6% |
| Furniture and vehicles | 24 | €30,492 | €20,851 | -€9,641 | -31.6% |
| Financial fixed assets | 28 | - | €364,140 | +€364,140 | |
| Current assets | 29/58 | €42,109 | €71,255 | +€29,147 | +69.2% |
| Amounts receivable within one year | 40/41 | €18,923 | €43,192 | +€24,268 | +128% |
| Trade receivables | 40 | €17,095 | €15,816 | -€1,280 | -7.5% |
| Other amounts receivable | 41 | €1,828 | €27,376 | +€25,548 | +1,398% |
| Cash at bank and in hand | 54/58 | €23,023 | €28,064 | +€5,040 | +21.9% |
| Deferred charges and accrued income | 490/1 | €162 | - | -€162 | |
| Total equity and liabilities | 10/49 | €72,600 | €456,246 | +€383,646 | +528% |
| Equity | 10/15 | €67,539 | €181,304 | +€113,765 | +168% |
| Contributions | 10/11 | €1,250 | €1,250 | = | 0.0% |
| Reserves | 13 | €66,289 | €180,054 | +€113,765 | +172% |
| Distributable reserves | 133 | €66,289 | €180,054 | +€113,765 | +172% |
| Amounts payable | 17/49 | €5,061 | €274,942 | +€269,881 | +5,332% |
| Amounts payable after more than one year | 17 | - | €220,000 | +€220,000 | |
| Financial debts | 170/4 | - | €180,000 | +€180,000 | |
| Other amounts payable | 178/9 | - | €40,000 | +€40,000 | |
| Amounts payable within one year | 42/48 | €5,061 | €54,942 | +€49,881 | +986% |
| Current portion of amounts payable after more than one year | 42 | €940 | - | -€940 | |
| Financial debts | 43 | - | €40,000 | +€40,000 | |
| Other loans | 439 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €366 | €137 | -€228 | -62.4% |
| Suppliers | 440/4 | €366 | €137 | -€228 | -62.4% |
| Taxes, remuneration and social security | 45 | €3,756 | €5,467 | +€1,711 | +45.6% |
| Taxes | 450/3 | €3,756 | €5,467 | +€1,711 | +45.6% |
| Other amounts payable | 47/48 | - | €9,338 | +€9,338 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,371 | €9,641 | +€270 | +2.9% |
| Other operating charges | 640/8 | €368 | €804 | +€435 | +118% |
| Gross operating margin | 9900 | €41,282 | €64,978 | +€23,696 | +57.4% |
| Operating profit (loss) | 9901 | €31,542 | €54,533 | +€22,991 | +72.9% |
| Financial income | 75/76B | - | €86,778 | +€86,778 | |
| Recurring financial income | 75 | - | €86,778 | +€86,778 | |
| Financial charges | 65/66B | €240 | €11,645 | +€11,405 | +4,749% |
| Recurring financial charges | 65 | €240 | €11,645 | +€11,405 | +4,749% |
| Profit (loss) for the period before taxes | 9903 | €31,302 | €129,667 | +€98,364 | +314% |
| Income taxes | 67/77 | €9,379 | €15,902 | +€6,523 | +69.6% |
| Profit (loss) for the period | 9904 | €21,924 | €113,765 | +€91,841 | +419% |
| Profit (loss) for the period to be appropriated | 9905 | €21,924 | €113,765 | +€91,841 | +419% |
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 24 October 2026 via checked.be.