Den Brouwketel: what changed
Den Brouwketel
Largest movements
- Receivables within one year +€19,963
up €19,963 (+58.4%), from €34,205 to €54,168
of which Trade receivables: +€19,963
- Cash -€17,203
down €17,203 (-64.3%), from €26,756 to €9,553
mainly Receivables within one year (-€19,963) and Debts after one year (-€19,632)
- Tangible fixed assets -€10,160
down €10,160 (-14.9%), from €68,370 to €58,211
of which Plant, machinery and equipment: -€7,000
- Stocks and contracts +€9,636
up €9,636 (+73.3%), from €13,149 to €22,784
- Deferred charges and accrued income +€1,840
up €1,840 (+170%), from €1,086 to €2,926
- Tax, wage and social debts +€36,228
up €36,228 (+52.9%), from €68,544 to €104,772
of which Taxes: +€29,395
- Debts after one year -€19,632
down €19,632 (-54.9%), from €35,727 to €16,095
- Trade debts -€13,242
down €13,242 (-37.5%), from €35,281 to €22,039
- Other debts -€8,045
down €8,045 (-57.3%), from €14,033 to €5,988
- Accrued charges and deferred income +€6,654
new in 2025: €6,654
- Staff costs -€131,069
down €131,069 (-28.8%), from €455,442 to €324,373
- Gross operating margin -€122,522
down €122,522 (-26.0%), from €472,034 to €349,512
- Financial charges -€7,456
down €7,456 (-47.8%), from €15,589 to €8,133
- Depreciation -€5,515
down €5,515 (-28.4%), from €19,425 to €13,910
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €153,915 | €156,742 | +€2,827 | +1.8% |
| Fixed assets | 21/28 | €78,719 | €67,309 | -€11,410 | -14.5% |
| Intangible fixed assets | 21 | €10,348 | €9,098 | -€1,250 | -12.1% |
| Tangible fixed assets | 22/27 | €68,370 | €58,211 | -€10,160 | -14.9% |
| Plant, machinery and equipment | 23 | €55,774 | €48,774 | -€7,000 | -12.5% |
| Furniture and vehicles | 24 | €12,597 | €9,437 | -€3,160 | -25.1% |
| Current assets | 29/58 | €75,196 | €89,432 | +€14,236 | +18.9% |
| Stocks and contracts in progress | 3 | €13,149 | €22,784 | +€9,636 | +73.3% |
| Stocks | 30/36 | €13,149 | €22,784 | +€9,636 | +73.3% |
| Amounts receivable within one year | 40/41 | €34,205 | €54,168 | +€19,963 | +58.4% |
| Trade receivables | 40 | - | €19,963 | +€19,963 | |
| Other amounts receivable | 41 | €34,205 | €34,205 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €26,756 | €9,553 | -€17,203 | -64.3% |
| Deferred charges and accrued income | 490/1 | €1,086 | €2,926 | +€1,840 | +170% |
| Total equity and liabilities | 10/49 | €153,915 | €156,742 | +€2,827 | +1.8% |
| Equity | 10/15 | -€18,688 | -€18,439 | +€249 | +1.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,688 | -€23,439 | +€249 | +1.1% |
| Amounts payable | 17/49 | €172,603 | €175,181 | +€2,578 | +1.5% |
| Amounts payable after more than one year | 17 | €35,727 | €16,095 | -€19,632 | -54.9% |
| Financial debts | 170/4 | €35,727 | €16,095 | -€19,632 | -54.9% |
| Amounts payable within one year | 42/48 | €136,876 | €152,431 | +€15,556 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €19,017 | €19,632 | +€615 | +3.2% |
| Trade debts | 44 | €35,281 | €22,039 | -€13,242 | -37.5% |
| Suppliers | 440/4 | €35,281 | €22,039 | -€13,242 | -37.5% |
| Taxes, remuneration and social security | 45 | €68,544 | €104,772 | +€36,228 | +52.9% |
| Taxes | 450/3 | €18,614 | €48,009 | +€29,395 | +158% |
| Remuneration and social security | 454/9 | €49,930 | €56,763 | +€6,833 | +13.7% |
| Other amounts payable | 47/48 | €14,033 | €5,988 | -€8,045 | -57.3% |
| Accrued charges and deferred income | 492/3 | - | €6,654 | +€6,654 | |
| Remuneration, social security and pensions | 62 | €455,442 | €324,373 | -€131,069 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,425 | €13,910 | -€5,515 | -28.4% |
| Other operating charges | 640/8 | €5,199 | €3,154 | -€2,044 | -39.3% |
| Gross operating margin | 9900 | €472,034 | €349,512 | -€122,522 | -26.0% |
| Operating profit (loss) | 9901 | -€8,031 | €8,076 | +€16,106 | |
| Financial income | 75/76B | €173 | €1,137 | +€964 | +556% |
| Recurring financial income | 75 | €173 | €1,137 | +€964 | +556% |
| Financial charges | 65/66B | €15,589 | €8,133 | -€7,456 | -47.8% |
| Recurring financial charges | 65 | €15,589 | €8,133 | -€7,456 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | -€23,446 | €1,080 | +€24,527 | |
| Income taxes | 67/77 | €242 | €831 | +€590 | +244% |
| Profit (loss) for the period | 9904 | -€23,688 | €249 | +€23,937 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,688 | €249 | +€23,937 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.