Dr. K. BROUWERS: what changed
Dr. K. BROUWERS
Largest movements
- Receivables within one year +€266,383
up €266,383 (+185%), from €143,648 to €410,031
of which Trade receivables: +€139,371
- Current investments -€255,532
down €255,532 (-100%), from €255,532 to €0
- Cash -€210,144
down €210,144 (-59.4%), from €353,891 to €143,747
mainly Contributions, distributions and other (-€395,706) and Receivables within one year (-€266,383)
- Tangible fixed assets +€20,600
up €20,600 (+37.6%), from €54,830 to €75,430
- Profit (loss) carried forward -€654,624
down €654,624 (-100%), from €654,624 to €0
- Other debts +€389,756
up €389,756 (+6,386%), from €6,103 to €395,860
- Trade debts +€73,490
up €73,490 (+144%), from €50,943 to €124,433
- Tax, wage and social debts +€9,255
up €9,255 (+10.9%), from €85,111 to €94,365
of which Remuneration and social security: +€5,562
- Gross operating margin -€799,950
down €799,950, from €378,130 to -€421,820
- Financial income +€323,979
up €323,979 (+487%), from €66,501 to €390,481
- Staff costs -€15,451
down €15,451 (-8.2%), from €189,430 to €173,979
- Taxes -€14,710
down €14,710 (-39.3%), from €37,399 to €22,689
- Financial charges +€8,982
up €8,982 (+111%), from €8,121 to €17,103
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 | €817,241 | €633,258 | -€183,983 | -22.5% |
| Fixed assets | 21/28 | €58,880 | €79,480 | +€20,600 | +35.0% |
| Tangible fixed assets | 22/27 | €54,830 | €75,430 | +€20,600 | +37.6% |
| Plant, machinery and equipment | 23 | €7,123 | €17,098 | +€9,975 | +140% |
| Furniture and vehicles | 24 | €14,604 | €17,642 | +€3,039 | +20.8% |
| Other tangible fixed assets | 26 | €33,104 | €40,690 | +€7,587 | +22.9% |
| Financial fixed assets | 28 | €4,050 | €4,050 | = | 0.0% |
| Current assets | 29/58 | €758,361 | €553,778 | -€204,583 | -27.0% |
| Amounts receivable within one year | 40/41 | €143,648 | €410,031 | +€266,383 | +185% |
| Trade receivables | 40 | €130,660 | €270,031 | +€139,371 | +107% |
| Other amounts receivable | 41 | €12,988 | €140,000 | +€127,012 | +978% |
| Current investments | 50/53 | €255,532 | €0 | -€255,532 | -100% |
| Cash at bank and in hand | 54/58 | €353,891 | €143,747 | -€210,144 | -59.4% |
| Deferred charges and accrued income | 490/1 | €5,290 | €0 | -€5,290 | -100% |
| Total equity and liabilities | 10/49 | €817,241 | €633,258 | -€183,983 | -22.5% |
| Equity | 10/15 | €675,084 | €18,600 | -€656,484 | -97.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €1,860 | €0 | -€1,860 | -100% |
| Profit (loss) carried forward | 14 | €654,624 | €0 | -€654,624 | -100% |
| Amounts payable | 17/49 | €142,157 | €614,658 | +€472,501 | +332% |
| Amounts payable within one year | 42/48 | €142,157 | €614,658 | +€472,501 | +332% |
| Trade debts | 44 | €50,943 | €124,433 | +€73,490 | +144% |
| Suppliers | 440/4 | €50,943 | €124,433 | +€73,490 | +144% |
| Taxes, remuneration and social security | 45 | €85,111 | €94,365 | +€9,255 | +10.9% |
| Taxes | 450/3 | €65,399 | €69,092 | +€3,693 | +5.6% |
| Remuneration and social security | 454/9 | €19,712 | €25,273 | +€5,562 | +28.2% |
| Other amounts payable | 47/48 | €6,103 | €395,860 | +€389,756 | +6,386% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €189,430 | €173,979 | -€15,451 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,578 | €15,598 | +€1,019 | +7.0% |
| Other operating charges | 640/8 | €264 | €71 | -€194 | -73.3% |
| Gross operating margin | 9900 | €378,130 | -€421,820 | -€799,950 | |
| Operating profit (loss) | 9901 | €173,857 | -€611,467 | -€785,324 | |
| Financial income | 75/76B | €66,501 | €390,481 | +€323,979 | +487% |
| Recurring financial income | 75 | €66,501 | €390,481 | +€323,979 | +487% |
| Financial charges | 65/66B | €8,121 | €17,103 | +€8,982 | +111% |
| Recurring financial charges | 65 | €8,121 | €17,103 | +€8,982 | +111% |
| Profit (loss) for the period before taxes | 9903 | €232,238 | -€238,089 | -€470,327 | |
| Income taxes | 67/77 | €37,399 | €22,689 | -€14,710 | -39.3% |
| Profit (loss) for the period | 9904 | €194,839 | -€260,778 | -€455,617 | |
| Profit (loss) for the period to be appropriated | 9905 | €194,839 | -€260,778 | -€455,617 |
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.