Brawo
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 10 filings
Turnover
≈ €190,000
Estimated: probably between €150,000 and €270,000
Total assets
€2.1m▲ 4.5%
2024 · €2.0m
Net result
€93,324▲ 5.8%
2024 · €88,215
Working capital
€271,676▲ 51.0%
2024 · €179,879
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€127,628
▲ 3.1%
2025
20182025
Net result
€93,324
▲ 5.8%
2025
middle half of the sector
20182025
Equity
€1.9m
▲ 5.2%
2025
highest quarter of the sector
20182025
Total assets
€2.1m
▲ 4.5%
2025
highest quarter of the sector
20182025
Debt
€218,006
▼ 1.2%
2025
20182025
Working capital
€271,676
▲ 51.0%
2025
middle half of the sector
20182025
Solvency
89.7%
▲ 0.6pp
2025
highest quarter of the sector
20182025
Current ratio
2.27
▲ 0.43
2025
middle half of the sector
20182025
Return on assets (ROA)
4.4%
▲ 0.1pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.09m-€0.08m▼ 13.4%€0.1m▲ 54.0%€0.1m▲ 18.8%€0.1m▼ 12.6%€0.1m▼ 16.0%€0.1m▲ 14.3%€0.1m▲ 3.1%
Net result€0.05m-€1.0m▲ 18×€0.4mabove the sector's middle half▼ 56.1%€0.6mabove the sector's middle half▲ 30.0%€0.6mabove the sector's middle half▲ 3.9%-€0.03mbelow the sector's middle half€0.09mwithin the sector's middle half€0.09mwithin the sector's middle half▲ 5.8%
Equity€0.3m-€1.0m▲ 243%€1.1mabove the sector's middle half▲ 9.4%€1.4mabove the sector's middle half▲ 28.2%€1.7mabove the sector's middle half▲ 22.8%€1.7mabove the sector's middle half▼ 1.7%€1.8mabove the sector's middle half▲ 5.2%€1.9mabove the sector's middle half▲ 5.2%
Total assets€0.9m-€1.8m▲ 107%€2.0mwithin the sector's middle half▲ 9.7%€1.9mwithin the sector's middle half▼ 4.7%€2.2mwithin the sector's middle half▲ 16.0%€2.0mwithin the sector's middle half▼ 8.6%€2.0mwithin the sector's middle half▲ 2.0%€2.1mabove the sector's middle half▲ 4.5%
Debt€0.6m-€0.8m▲ 36.5%€0.9m▲ 10.2%€0.5m▼ 47.1%€0.4m▼ 5.4%€0.3m▼ 36.9%€0.2m▼ 18.2%€0.2m▼ 1.2%
Working capital-€0.3m--€0.6m▼ 92.7%-€0.5mbelow the sector's middle half▲ 10.1%-€0.3mbelow the sector's middle half▲ 48.7%-€0.002mwithin the sector's middle half▲ 99.4%€0.1mwithin the sector's middle half€0.2mwithin the sector's middle half▲ 87.6%€0.3mwithin the sector's middle half▲ 51.0%
Solvency34.2%-56.6%▲ 22.4pp56.4%within the sector's middle half▼ 0.2pp75.8%above the sector's middle half▲ 19.4pp80.3%above the sector's middle half▲ 4.5pp86.4%above the sector's middle half▲ 6.1pp89.1%above the sector's middle half▲ 2.7pp89.7%above the sector's middle half▲ 0.6pp
Current ratio0.03-0.01▼ 0.030.25below the sector's middle half▲ 0.240.24below the sector's middle half▼ 0.011.00within the sector's middle half▲ 0.751.36within the sector's middle half▲ 0.371.83within the sector's middle half▲ 0.472.27within the sector's middle half▲ 0.43
Return on assets (ROA)6.3%-54.1%▲ 47.7pp21.7%above the sector's middle half▼ 32.4pp29.5%above the sector's middle half▲ 7.9pp26.4%above the sector's middle half▼ 3.1pp-1.5%below the sector's middle half▼ 27.9pp4.4%within the sector's middle half▲ 5.9pp4.4%within the sector's middle half▲ 0.1pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 3% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.1m
Fixed assets
€1.6m =
Current assets
€486,209 ▲ 23.0%
Equity and liabilities €2.1m
Equity
€1.9m ▲ 5.2%
Debt
€218,006 ▼ 1.2%
Debt's share of the balance-sheet total falls from 10.9% to 10.3%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.12▼
2024 · 0.12
ROE
4.9%▲
2024 · 4.9%
Debt ≤ 1 year
€214,532▼
2024 · €215,558
Income taxes
€36,111▼
2024 · €39,887
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | €5,000 | - | €4,682 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €988 | €990 | €1,224 | €1,108 | €1,143 | ▲ 3.1% |
| Gross operating margin9900 | €93,729 | €81,210 | €125,281 | €148,590 | €129,930 | €109,479 | €124,876 | €128,770 | ▲ 3.1% |
| Operating profit (loss)9901 | €93,251 | €80,730 | €124,294 | €147,602 | €128,940 | €108,255 | €123,768 | €127,628 | ▲ 3.1% |
| Financial income75/76B | - | - | - | €448,855 | €491,833 | €9,004 | €13,953 | €9,580 | ▼ 31.3% |
| Recurring financial income75 | €0 | €929,578 | €349,090 | €448,855 | €491,833 | €9,004 | €13,953 | €9,580 | ▼ 31.3% |
| Financial charges65/66B | - | - | - | €9,906 | €5,085 | €144,681 | €9,619 | €7,774 | ▼ 19.2% |
| Recurring financial charges65 | €14,183 | €14,370 | €21,396 | €9,906 | €5,085 | €144,681 | €9,619 | €7,774 | ▼ 19.2% |
| Profit (loss) for the period before taxes9903 | €79,068 | €995,938 | €451,988 | €586,551 | €615,688 | -€27,422 | €128,102 | €129,435 | ▲ 1.0% |
| Income taxes67/77 | €24,348 | €29,498 | €27,341 | €34,694 | €42,253 | €2,265 | €39,887 | €36,111 | ▼ 9.5% |
| Profit (loss) for the period9904 | €54,720 | €966,440 | €424,647 | €551,857 | €573,434 | -€29,687 | €88,215 | €93,324 | ▲ 5.8% |
| Profit (loss) for the period to be appropriated9905 | €54,720 | €966,440 | €424,647 | €551,857 | €573,434 | -€29,687 | €88,215 | €93,324 | ▲ 5.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.9m | €1.8m | €2.0m | €1.9m | €2.2m | €2.0m | €2.0m | €2.1m | ▲ 4.5% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.9m | €1.8m | €1.8m | €1.8m | €1.8m | €1.6m | €1.6m | €1.6m | = |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0 | - | - | - | - | - | - | - | - |
| Financial fixed assets28 | €0.9m | €1.8m | €1.8m | €1.8m | €1.8m | €1.6m | €1.6m | €1.6m | = |
| Current assets29/58 | €0.01m | €0.005m | €0.2m | €0.09m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 23.0% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.008m | €0.003m | €0.07m | €0.02m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 23.1% |
| Trade receivables40 | - | - | - | €0.02m | €0.007m | €0.05m | €0.06m | €0.1m | ▲ 75.2% |
| Other amounts receivable41 | - | - | - | €0 | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 13.9% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.003m | €0.002m | €0.04m | €0.07m | €0.03m | €0.001m | €0.002m | €0.003m | ▲ 43.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | €0.05m | €0.002m | €0.005m | €0.005m | ▲ 4.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.9m | €1.8m | €2.0m | €1.9m | €2.2m | €2.0m | €2.0m | €2.1m | ▲ 4.5% |
| Equity10/15 | €0.3m | €1.0m | €1.1m | €1.4m | €1.7m | €1.7m | €1.8m | €1.9m | ▲ 5.2% |
| Contributions10/11 | €0.2m | €0.2m | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.09m | €0.8m | €0.9m | €1.2m | €1.5m | €1.5m | €1.6m | €1.7m | ▲ 5.8% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves not available under the articles1311 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €1.2m | €1.5m | €1.5m | €1.6m | €1.7m | ▲ 5.9% |
| Profit (loss) carried forward14 | €0 | - | - | €0 | €0 | €0 | - | - | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.6m | €0.8m | €0.9m | €0.5m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 1.2% |
| Amounts payable after more than one year17 | €0.3m | €0.2m | €0.1m | €0.09m | €0.04m | €0 | - | - | - |
| Financial debts170/4 | - | - | - | €0.09m | €0.04m | €0 | - | - | - |
| Amounts payable within one year42/48 | €0.3m | €0.6m | €0.7m | €0.4m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 0.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0 | - | - |
| Trade debts44 | €0.007m | €0.02m | €0.02m | €0 | €0.007m | €0.01m | €0.005m | €0.007m | ▲ 31.7% |
| Suppliers440/4 | - | - | - | €0 | €0.007m | €0.01m | €0.005m | €0.007m | ▲ 31.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.02m | €0.01m | €0.02m | €0.04m | ▲ 56.1% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.01m | €0.02m | €0.04m | ▲ 56.1% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 8.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0.008m | €0.003m | €0.005m | €0.005m | €0.003m | ▼ 30.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,720 | €966,440 | €424,647 | €551,857 | €573,434 | -€29,687 | €88,215 | €93,324 | ▲ 5.8% |
| + Depreciation and write-downs630 | €0 | - | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | €54,720 | €966,440 | €424,647 | €551,857 | €573,434 | -€29,687 | €88,215 | €93,324 | ▲ 5.8% |
| Investment in fixed assets (approximation) | - | -€929,578 | €0 | €0 | -€5,000 | €166,981 | -€4,682 | €0 | - |
| Change in cash | - | -€863 | €36,972 | €30,230 | -€39,750 | -€28,780 | €1,335 | €878 | ▼ 34.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 07-07-2026 | 2026-00268793 | |
| 31-12-2024 | abbreviated format | 04-07-2025 | 2025-00229529 | |
| 31-12-2023 | abbreviated format | 06-05-2024 | 2024-00082034 | |
| 31-12-2022 | abbreviated format | 26-06-2023 | 2023-00155154 | |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20122653 | |
| 31-12-2020 | abbreviated format | 15-07-2021 | 2021-35700055 | |
| 31-12-2019 | abbreviated format | 25-06-2020 | 2020-21100507 | |
| 31-12-2018 | abbreviated format | 26-06-2019 | 2019-24400474 | |
| 31-12-2017 | abbreviated format | 16-06-2018 | 2018-20300203 | |
| 31-12-2016 | abbreviated format | 23-06-2017 | 2017-20900026 |