Dr. K. Broes: 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.
Dr. K. Broes
Largest movements
- Cash -€31,188
down €31,188 (-22.8%), from €136,710 to €105,522
mainly Contributions, distributions and other (-€279,439) and Receivables within one year (-€10,112)
- Deferred charges and accrued income -€16,598
down €16,598 (-23.2%), from €71,452 to €54,854
- Tangible fixed assets -€14,388
down €14,388 (-5.9%), from €242,791 to €228,402
- Receivables within one year +€10,112
new in 2025: €10,112
of which Other amounts receivable: +€7,549
- Reserves -€136,009
down €136,009 (-97.5%), from €139,439 to €3,430
- Other debts +€87,612
up €87,612 (+56.2%), from €156,030 to €243,642
- Debts after one year -€7,041
down €7,041 (-5.9%), from €118,831 to €111,790
- Accrued charges and deferred income +€5,663
up €5,663 (+310%), from €1,824 to €7,487
- Gross operating margin -€6,293
down €6,293 (-2.9%), from €214,545 to €208,253
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 | €450,953 | €398,891 | -€52,062 | -11.5% |
| Fixed assets | 21/28 | €242,791 | €228,402 | -€14,388 | -5.9% |
| Tangible fixed assets | 22/27 | €242,791 | €228,402 | -€14,388 | -5.9% |
| Land and buildings | 22 | €92,447 | €87,825 | -€4,622 | -5.0% |
| Plant, machinery and equipment | 23 | €36,486 | €30,987 | -€5,498 | -15.1% |
| Furniture and vehicles | 24 | €2,643 | €5,174 | +€2,530 | +95.7% |
| Other tangible fixed assets | 26 | €111,215 | €104,416 | -€6,798 | -6.1% |
| Current assets | 29/58 | €208,162 | €170,488 | -€37,674 | -18.1% |
| Amounts receivable within one year | 40/41 | - | €10,112 | +€10,112 | |
| Trade receivables | 40 | - | €2,563 | +€2,563 | |
| Other amounts receivable | 41 | - | €7,549 | +€7,549 | |
| Cash at bank and in hand | 54/58 | €136,710 | €105,522 | -€31,188 | -22.8% |
| Deferred charges and accrued income | 490/1 | €71,452 | €54,854 | -€16,598 | -23.2% |
| Total equity and liabilities | 10/49 | €450,953 | €398,891 | -€52,062 | -11.5% |
| Equity | 10/15 | €157,989 | €21,980 | -€136,009 | -86.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €139,439 | €3,430 | -€136,009 | -97.5% |
| Distributable reserves | 133 | €139,439 | €3,430 | -€136,009 | -97.5% |
| Amounts payable | 17/49 | €292,964 | €376,911 | +€83,947 | +28.7% |
| Amounts payable after more than one year | 17 | €118,831 | €111,790 | -€7,041 | -5.9% |
| Financial debts | 170/4 | €118,831 | €111,790 | -€7,041 | -5.9% |
| Amounts payable within one year | 42/48 | €172,309 | €257,634 | +€85,325 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | €6,954 | €7,041 | +€87 | +1.2% |
| Financial debts | 43 | €2 | €2 | = | 0.0% |
| Credit institutions | 430/8 | €2 | €2 | = | 0.0% |
| Trade debts | 44 | €3,984 | €1,625 | -€2,359 | -59.2% |
| Suppliers | 440/4 | €3,984 | €1,625 | -€2,359 | -59.2% |
| Taxes, remuneration and social security | 45 | €5,339 | €5,324 | -€15 | -0.3% |
| Taxes | 450/3 | €5,339 | €5,324 | -€15 | -0.3% |
| Other amounts payable | 47/48 | €156,030 | €243,642 | +€87,612 | +56.2% |
| Accrued charges and deferred income | 492/3 | €1,824 | €7,487 | +€5,663 | +310% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,536 | €18,850 | +€314 | +1.7% |
| Other operating charges | 640/8 | €898 | €845 | -€53 | -5.9% |
| Gross operating margin | 9900 | €214,545 | €208,253 | -€6,293 | -2.9% |
| Operating profit (loss) | 9901 | €195,111 | €188,557 | -€6,554 | -3.4% |
| Financial income | 75/76B | €30 | €0 | -€30 | -99.9% |
| Recurring financial income | 75 | €30 | €0 | -€30 | -99.9% |
| Financial charges | 65/66B | €2,810 | €2,677 | -€134 | -4.8% |
| Recurring financial charges | 65 | €2,810 | €2,677 | -€134 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €192,331 | €185,881 | -€6,451 | -3.4% |
| Income taxes | 67/77 | €44,404 | €42,451 | -€1,954 | -4.4% |
| Profit (loss) for the period | 9904 | €147,927 | €143,430 | -€4,497 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €147,927 | €143,430 | -€4,497 | -3.0% |
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 17 October 2026 via checked.be.