BE BRAVE: 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.
BE BRAVE
Largest movements
- Intangible fixed assets +€33,798
up €33,798 (+42.7%), from €79,218 to €113,016
- Receivables within one year +€8,965
up €8,965 (+5,028%), from €178 to €9,143
of which Trade receivables: +€8,965
- Tangible fixed assets -€6,377
down €6,377 (-16.2%), from €39,341 to €32,965
of which Land and buildings: -€5,976
- Cash -€4,941
down €4,941 (-90.3%), from €5,470 to €529
mainly Investment in fixed assets (net) (-€48,693) and Receivables within one year (-€8,965)
- Other debts +€16,589
up €16,589 (+19.8%), from €83,680 to €100,269
- Profit (loss) carried forward +€13,451
up €13,451 (+32.2%), from -€41,715 to -€28,264
- Tax, wage and social debts +€3,821
up €3,821 (+2,600%), from €147 to €3,968
of which Taxes: +€3,821
- Trade debts -€2,195
down €2,195 (-25.4%), from €8,658 to €6,463
- Gross operating margin +€25,546
up €25,546 (+246%), from €10,364 to €35,909
- Depreciation +€5,049
up €5,049 (+31.1%), from €16,222 to €21,271
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 | €124,419 | €156,070 | +€31,651 | +25.4% |
| Fixed assets | 21/28 | €118,559 | €145,980 | +€27,421 | +23.1% |
| Intangible fixed assets | 21 | €79,218 | €113,016 | +€33,798 | +42.7% |
| Tangible fixed assets | 22/27 | €39,341 | €32,965 | -€6,377 | -16.2% |
| Land and buildings | 22 | €38,642 | €32,667 | -€5,976 | -15.5% |
| Furniture and vehicles | 24 | €699 | €298 | -€401 | -57.4% |
| Current assets | 29/58 | €5,860 | €10,090 | +€4,230 | +72.2% |
| Amounts receivable within one year | 40/41 | €178 | €9,143 | +€8,965 | +5,028% |
| Trade receivables | 40 | €178 | €9,143 | +€8,965 | +5,028% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €5,470 | €529 | -€4,941 | -90.3% |
| Deferred charges and accrued income | 490/1 | €211 | €418 | +€206 | +97.4% |
| Total equity and liabilities | 10/49 | €124,419 | €156,070 | +€31,651 | +25.4% |
| Equity | 10/15 | €31,919 | €45,370 | +€13,451 | +42.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €71,635 | €71,635 | = | 0.0% |
| Distributable reserves | 133 | €71,635 | €71,635 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,715 | -€28,264 | +€13,451 | +32.2% |
| Amounts payable | 17/49 | €92,500 | €110,700 | +€18,200 | +19.7% |
| Amounts payable within one year | 42/48 | €92,485 | €110,700 | +€18,215 | +19.7% |
| Trade debts | 44 | €8,658 | €6,463 | -€2,195 | -25.4% |
| Suppliers | 440/4 | €8,658 | €6,463 | -€2,195 | -25.4% |
| Taxes, remuneration and social security | 45 | €147 | €3,968 | +€3,821 | +2,600% |
| Taxes | 450/3 | €147 | €3,968 | +€3,821 | +2,600% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €83,680 | €100,269 | +€16,589 | +19.8% |
| Accrued charges and deferred income | 492/3 | €15 | €0 | -€15 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,222 | €21,271 | +€5,049 | +31.1% |
| Other operating charges | 640/8 | €528 | €604 | +€76 | +14.4% |
| Gross operating margin | 9900 | €10,364 | €35,909 | +€25,546 | +246% |
| Operating profit (loss) | 9901 | -€6,387 | €14,034 | +€20,421 | |
| Financial income | 75/76B | €19 | €4 | -€15 | -78.1% |
| Recurring financial income | 75 | €19 | €4 | -€15 | -78.1% |
| Financial charges | 65/66B | €747 | €587 | -€160 | -21.4% |
| Recurring financial charges | 65 | €747 | €587 | -€160 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,114 | €13,451 | +€20,565 | |
| Profit (loss) for the period | 9904 | -€7,114 | €13,451 | +€20,565 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,114 | €13,451 | +€20,565 |
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.