DIRK BROSSE: 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.
DIRK BROSSE
Largest movements
- Cash +€146,455
up €146,455 (+30.4%), from €481,403 to €627,858
mainly Net result for the year (+€295,607) and Receivables within one year (+€85,946)
- Receivables within one year -€85,946
down €85,946 (-58.4%), from €147,220 to €61,273
of which Trade receivables: -€96,105
- Reserves +€294,774
up €294,774 (+16.8%), from €1.8m to €2.0m
- Advances received -€155,369
no longer reported in 2025 (was €155,369)
- Other debts -€94,723
down €94,723 (-28.2%), from €336,373 to €241,650
- Accrued charges and deferred income +€27,519
up €27,519 (+121%), from €22,741 to €50,260
- Write-downs +€64,832
new in 2025: €64,832
- Gross operating margin -€43,643
down €43,643 (-7.8%), from €556,801 to €513,159
- Taxes -€25,362
down €25,362 (-15.1%), from €167,432 to €142,070
- Financial charges -€7,802
down €7,802 (-23.7%), from €32,914 to €25,112
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 | €2,305,686 | €2,377,736 | +€72,050 | +3.1% |
| Fixed assets | 21/28 | €18,165 | €10,036 | -€8,130 | -44.8% |
| Tangible fixed assets | 22/27 | €18,165 | €10,036 | -€8,130 | -44.8% |
| Plant, machinery and equipment | 23 | €2,227 | €1,154 | -€1,073 | -48.2% |
| Furniture and vehicles | 24 | €14,361 | €4,287 | -€10,074 | -70.1% |
| Other tangible fixed assets | 26 | €1,578 | €4,595 | +€3,017 | +191% |
| Current assets | 29/58 | €2,287,521 | €2,367,700 | +€80,179 | +3.5% |
| Amounts receivable within one year | 40/41 | €147,220 | €61,273 | -€85,946 | -58.4% |
| Trade receivables | 40 | €128,797 | €32,692 | -€96,105 | -74.6% |
| Other amounts receivable | 41 | €18,423 | €28,581 | +€10,158 | +55.1% |
| Current investments | 50/53 | €1,658,486 | €1,678,212 | +€19,727 | +1.2% |
| Cash at bank and in hand | 54/58 | €481,403 | €627,858 | +€146,455 | +30.4% |
| Deferred charges and accrued income | 490/1 | €413 | €357 | -€56 | -13.5% |
| Total equity and liabilities | 10/49 | €2,305,686 | €2,377,736 | +€72,050 | +3.1% |
| Equity | 10/15 | €1,772,775 | €2,067,549 | +€294,774 | +16.6% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,754,025 | €2,048,799 | +€294,774 | +16.8% |
| Distributable reserves | 133 | €1,754,025 | €2,048,799 | +€294,774 | +16.8% |
| Amounts payable | 17/49 | €532,912 | €310,187 | -€222,724 | -41.8% |
| Amounts payable within one year | 42/48 | €510,171 | €259,928 | -€250,243 | -49.1% |
| Trade debts | 44 | €2,726 | €7,172 | +€4,446 | +163% |
| Suppliers | 440/4 | €2,726 | €7,172 | +€4,446 | +163% |
| Advances received on contracts in progress | 46 | €155,369 | - | -€155,369 | |
| Taxes, remuneration and social security | 45 | €15,703 | €11,106 | -€4,597 | -29.3% |
| Taxes | 450/3 | €15,703 | €11,106 | -€4,597 | -29.3% |
| Other amounts payable | 47/48 | €336,373 | €241,650 | -€94,723 | -28.2% |
| Accrued charges and deferred income | 492/3 | €22,741 | €50,260 | +€27,519 | +121% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,326 | €13,683 | +€357 | +2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €64,832 | +€64,832 | |
| Other operating charges | 640/8 | €3,979 | €4,437 | +€457 | +11.5% |
| Non-recurring operating charges | 66A | €512 | €387 | -€124 | -24.3% |
| Gross operating margin | 9900 | €556,801 | €513,159 | -€43,643 | -7.8% |
| Operating profit (loss) | 9901 | €538,984 | €429,820 | -€109,164 | -20.3% |
| Financial income | 75/76B | €32,400 | €32,969 | +€569 | +1.8% |
| Recurring financial income | 75 | €32,400 | €32,969 | +€569 | +1.8% |
| Financial charges | 65/66B | €32,914 | €25,112 | -€7,802 | -23.7% |
| Recurring financial charges | 65 | €32,914 | €25,112 | -€7,802 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €538,470 | €437,677 | -€100,793 | -18.7% |
| Income taxes | 67/77 | €167,432 | €142,070 | -€25,362 | -15.1% |
| Profit (loss) for the period | 9904 | €371,038 | €295,607 | -€75,430 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €371,038 | €295,607 | -€75,430 | -20.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.