BRAVER
ActiveSummary
BRAVER has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €172k and a net result of €28k. Equity is growing by ~8% per year across the filed fiscal years. Its solvency ranks better than 51% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability81▼-3
Solvency84▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity ample (current ratio 2.11 against 1.93 in 2023; short-term debt: 28.4% and cash: 20.5% of total assets), and 41.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
43 d early
2022
28 d early
2021
67 d early
2020
53 d early
2019
38 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€172k▲ 8.2%
2023 · €159k
Total assets
€292k▲ 11.9%
2023 · €261k
Net result
€28k▼ 10.5%
2023 · €31k
Working capital
€92k▲ 47.1%
2023 · €63k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€39k▲ 3.0%€39k▼ 0.9%€32k▼ 17.3%€48k▲ 49.8%€46k▼ 3.2%
Net result€24k▲ 16.8%€22k▼ 6.1%€15k▼ 33.7%€31k▲ 110%€28k▼ 10.5%
Equity€142k▲ 20.3%€136k▼ 4.2%€141k▲ 3.7%€159k▲ 12.6%€172k▲ 8.2%
Total assets€247k▲ 3.8%€250k▲ 1.4%€245k▼ 2.3%€261k▲ 6.8%€292k▲ 11.9%
Debt€105k▼ 12.4%€114k▲ 9.0%€104k▼ 9.4%€102k▼ 1.2%€120k▲ 17.5%
Working capital€47k▲ 31.8%€34k▼ 27.7%€34k▲ 0.8%€63k▲ 83.4%€92k▲ 47.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 3% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €292k
Fixed assets
€117k ▼ 10.7%
Current assets
€175k ▲ 34.6%
Equity and liabilities €292k
Equity
€172k ▲ 8.2%
Debt
€120k ▲ 17.5%
Debt's share of the balance-sheet total rises from 39.2% to 41.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€62k▼
2023 · €64k
Cash flow
€43k▼
2023 · €48k
Current ratio
2.11▲
2023 · 1.93
Quick ratio
2.08▲
2023 · 1.89
Debt to equity
0.70▲
2023 · 0.65
ROE
16.2%▼
2023 · 19.6%
ROA
9.6%▼
2023 · 11.9%
Interest coverage
7.88▼
2023 · 22.72
Debt ≤ 1 year
€83k▲
2023 · €68k
Debt > 1 year
€30k=
2023 · €30k
Income taxes
€13k▼
2023 · €15k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €14k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €15k | €16k | €16k | €15k | ▼ 6.8% |
| Other operating charges640/8 | - | €2k | €4k | €3k | €3k | ▲ 0.2% |
| Gross operating margin9900 | €56k | €57k | €52k | €67k | €65k | ▼ 3.9% |
| Operating profit (loss)9901 | €39k | €39k | €32k | €48k | €46k | ▼ 3.2% |
| Financial income75/76B | - | - | €81 | €1k | €2k | ▲ 70.4% |
| Recurring financial income75 | - | - | €81 | €1k | €2k | ▲ 70.4% |
| Financial charges65/66B | - | €5k | €9k | €3k | €8k | ▲ 176% |
| Recurring financial charges65 | €5k | €5k | €9k | €3k | €8k | ▲ 176% |
| Profit (loss) for the period before taxes9903 | €34k | €33k | €24k | €46k | €41k | ▼ 12.3% |
| Income taxes67/77 | €10k | €11k | €9k | €15k | €13k | ▼ 15.8% |
| Profit (loss) for the period9904 | €24k | €22k | €15k | €31k | €28k | ▼ 10.5% |
| Profit (loss) for the period to be appropriated9905 | €24k | €22k | €15k | €31k | €28k | ▼ 10.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €247k | €250k | €245k | €261k | €292k | ▲ 11.9% |
| Fixed assets21/28 | €166k | €155k | €141k | €131k | €117k | ▼ 10.7% |
| Tangible fixed assets22/27 | €166k | €155k | €141k | €131k | €117k | ▼ 10.7% |
| Land and buildings22 | - | €151k | €137k | €129k | €117k | ▼ 9.9% |
| Furniture and vehicles24 | - | €4k | €4k | €2k | €414 | ▼ 74.3% |
| Financial fixed assets28 | €19 | €19 | €19 | €19 | €19 | = |
| Current assets29/58 | €81k | €96k | €104k | €130k | €175k | ▲ 34.6% |
| Stocks and contracts in progress3 | €2k | €2k | €2k | €2k | €2k | = |
| Stocks30/36 | - | €2k | €2k | €2k | €2k | = |
| Amounts receivable within one year40/41 | €23k | €9k | €10k | €10k | €10k | ▲ 1.1% |
| Trade receivables40 | - | €9k | €9k | €9k | €10k | ▲ 14.9% |
| Other amounts receivable41 | - | - | €435 | €1k | €0 | ▼ 100% |
| Current investments50/53 | - | - | €46k | €49k | €98k | ▲ 101% |
| Cash at bank and in hand54/58 | €55k | €84k | €44k | €66k | €60k | ▼ 9.1% |
| Deferred charges and accrued income490/1 | - | €506 | €2k | €3k | €5k | ▲ 48.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €247k | €250k | €245k | €261k | €292k | ▲ 11.9% |
| Equity10/15 | €142k | €136k | €141k | €159k | €172k | ▲ 8.2% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €136k | €130k | €135k | €153k | €166k | ▲ 8.6% |
| Non-distributable reserves130/1 | - | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €0 | - | - | - |
| Distributable reserves133 | - | €128k | €135k | €153k | €166k | ▲ 8.6% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €105k | €114k | €104k | €102k | €120k | ▲ 17.5% |
| Amounts payable after more than one year17 | €69k | €50k | €30k | €30k | €30k | = |
| Financial debts170/4 | - | €50k | €30k | €30k | €30k | = |
| Amounts payable within one year42/48 | €34k | €62k | €70k | €68k | €83k | ▲ 23.1% |
| Current portion of amounts payable after more than one year42 | - | €19k | €20k | €0 | - | - |
| Financial debts43 | - | - | €11 | €12 | €12 | = |
| Credit institutions430/8 | - | - | €11 | €12 | €12 | = |
| Trade debts44 | €951 | €2k | €2k | €3k | €5k | ▲ 40.7% |
| Suppliers440/4 | - | €2k | €2k | €3k | €5k | ▲ 40.7% |
| Taxes, remuneration and social security45 | - | €4k | €3k | €6k | €4k | ▼ 35.7% |
| Taxes450/3 | - | €4k | €3k | €6k | €4k | ▼ 35.7% |
| Other amounts payable47/48 | - | €37k | €45k | €58k | €74k | ▲ 28.1% |
| Accrued charges and deferred income492/3 | - | €3k | €3k | €5k | €7k | ▲ 51.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €22k | €15k | €31k | €28k | ▼ 10.5% |
| + Depreciation and write-downs630 | €15k | €15k | €16k | €16k | €15k | ▼ 6.8% |
| Operating cash flow (approximation) | €39k | €38k | €31k | €48k | €43k | ▼ 9.2% |
| Investment in fixed assets (approximation) | - | €-4k | €-2k | €-7k | €-1k | ▲ 82.0% |
| Change in cash | - | €29k | €-40k | €22k | €-6k | ▼ 127% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €31k ▲110%
Operating result €48k, net result €31k, both a record.
31-12
Financial
Equity above €150kEq €159k ▲12.6%
6 profitable years in a row build equity to €159k.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
23-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
25-04
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 2001
Ground area
935 m²
Building footprint
158 m²
Volume, LiDAR
1,178 m³
Parcel 31425C0134/00R000, Flanders · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
BRAVER bv
since 20012.095.479.023
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31425C0134/00R000 | Flanders | 935 m² | 1 · 158 m² | 11.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 1,597 EUR awarded · 1,597 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,597 EUR | 1,597 EUR |
Schemes
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
Recognitions · licences · registrations
Legal Entity Identifier
894500G5EL2QGGH37V55
Similar companies · same sector, comparable size
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BE 0769.852.079
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 40,657 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-12-2001
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
32500Manufacture of medical and dental instruments and supplies
Scores and ratios are computed by Checked and are not a credit decision.