Frédéric Brouet: 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.
Frédéric Brouet
Largest movements
- Cash +€47,153
up €47,153 (+90.2%), from €52,252 to €99,405
mainly Net result for the year (+€28,065) and Tax, wage and social debts (+€12,957)
- Tangible fixed assets -€3,568
down €3,568 (-26.5%), from €13,445 to €9,876
of which Furniture and vehicles: -€2,573
- Reserves +€28,000
up €28,000 (+23.2%), from €120,860 to €148,860
of which Distributable reserves: +€28,000
- Tax, wage and social debts +€12,957
up €12,957 (+118%), from €10,993 to €23,950
- Gross operating margin -€55,931
down €55,931 (-58.1%), from €96,190 to €40,258
- Taxes -€14,604
down €14,604 (-54.1%), from €27,004 to €12,401
- Financial income -€1,357
down €1,357 (-21.4%), from €6,335 to €4,978
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 | €271,981 | €313,178 | +€41,196 | +15.1% |
| Fixed assets | 21/28 | €63,445 | €59,876 | -€3,568 | -5.6% |
| Tangible fixed assets | 22/27 | €13,445 | €9,876 | -€3,568 | -26.5% |
| Furniture and vehicles | 24 | €8,229 | €5,656 | -€2,573 | -31.3% |
| Other tangible fixed assets | 26 | €5,216 | €4,220 | -€995 | -19.1% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €208,537 | €253,301 | +€44,765 | +21.5% |
| Amounts receivable within one year | 40/41 | €149,441 | €147,996 | -€1,444 | -1.0% |
| Trade receivables | 40 | €7,996 | €7,996 | = | 0.0% |
| Other amounts receivable | 41 | €141,444 | €140,000 | -€1,444 | -1.0% |
| Cash at bank and in hand | 54/58 | €52,252 | €99,405 | +€47,153 | +90.2% |
| Deferred charges and accrued income | 490/1 | €6,844 | €5,900 | -€944 | -13.8% |
| Total equity and liabilities | 10/49 | €271,981 | €313,178 | +€41,196 | +15.1% |
| Equity | 10/15 | €259,766 | €287,830 | +€28,065 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120,860 | €148,860 | +€28,000 | +23.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €119,000 | €147,000 | +€28,000 | +23.5% |
| Profit (loss) carried forward | 14 | €120,306 | €120,370 | +€65 | +0.1% |
| Amounts payable | 17/49 | €12,216 | €25,347 | +€13,132 | +107% |
| Amounts payable within one year | 42/48 | €12,216 | €25,347 | +€13,132 | +107% |
| Trade debts | 44 | €57 | €158 | +€101 | +177% |
| Suppliers | 440/4 | €57 | €158 | +€101 | +177% |
| Taxes, remuneration and social security | 45 | €10,993 | €23,950 | +€12,957 | +118% |
| Taxes | 450/3 | €10,993 | €23,950 | +€12,957 | +118% |
| Other amounts payable | 47/48 | €1,166 | €1,239 | +€73 | +6.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,477 | €3,568 | -€909 | -20.3% |
| Other operating charges | 640/8 | €771 | €750 | -€21 | -2.7% |
| Gross operating margin | 9900 | €96,190 | €40,258 | -€55,931 | -58.1% |
| Operating profit (loss) | 9901 | €90,942 | €35,940 | -€55,002 | -60.5% |
| Financial income | 75/76B | €6,335 | €4,978 | -€1,357 | -21.4% |
| Recurring financial income | 75 | €6,335 | €4,978 | -€1,357 | -21.4% |
| Financial charges | 65/66B | €777 | €453 | -€323 | -41.6% |
| Recurring financial charges | 65 | €777 | €453 | -€323 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €96,501 | €40,465 | -€56,035 | -58.1% |
| Income taxes | 67/77 | €27,004 | €12,401 | -€14,604 | -54.1% |
| Profit (loss) for the period | 9904 | €69,496 | €28,065 | -€41,432 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €69,496 | €28,065 | -€41,432 | -59.6% |
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 13 October 2026 via checked.be.