BRABO: 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.
What changed
BRABO
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€688,205
2024 · €488,311+€199,894
Equity
€4.4m
2024 · €3.9m+€548,205
Cash
€145,538
2024 · €244,034-€98,497
Balance sheet total
€7.7m
2024 · €6.6m+€1.1m
Largest movements
Assets
- Receivables within one year +€914,801
up €914,801 (+19.8%), from €4.6m to €5.5m
of which Trade receivables: +€1.2m
- Stocks and contracts +€274,056
up €274,056 (+18.8%), from €1.5m to €1.7m
- Cash -€98,497
down €98,497 (-40.4%), from €244,034 to €145,538
mainly Receivables within one year (-€914,801) and Debts after one year (-€356,800)
Equity and liabilities
- Trade debts +€996,872
up €996,872 (+132%), from €753,084 to €1.7m
- Reserves +€548,205
up €548,205 (+18.3%), from €3.0m to €3.5m
of which Distributable reserves: +€548,205
- Debts after one year -€356,800
down €356,800 (-31.9%), from €1.1m to €763,200
of which Other amounts payable: -€360,000
- Tax, wage and social debts -€95,605
down €95,605 (-47.6%), from €200,799 to €105,194
of which Taxes: -€125,640
Income statement
- Gross operating margin +€297,034
up €297,034 (+22.5%), from €1.3m to €1.6m
- Taxes +€77,635
up €77,635 (+68.9%), from €112,605 to €190,240
- Staff costs +€50,586
up €50,586 (+8.1%), from €625,532 to €676,118
- Financial charges -€17,832
down €17,832 (-36.6%), from €48,664 to €30,832
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.
Result 2024
€488,311
Gross operating margin
+€297,034
Staff costs
-€50,586
Depreciation
+€3,908
Write-downs
+€1,607
Provisions
-€911
Other operating charges
+€8,446
Financial income
+€198
Financial charges
+€17,832
Taxes
-€77,635
Result 2025
€688,205
raises the resultlowers the result
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.
From operations
+€422,572
Investment
-€24,845
Financing
-€496,224
Cash 2024
€244,034
From operations (derived)
+€422,572
Net result for the year
+€688,205
Depreciation
+€29,798
Stocks and contracts
-€274,056
Receivables within one year
-€914,801
Deferred charges and accrued income
-€2,991
Provisions
-€4,251
Trade debts
+€996,872
Tax, wage and social debts
-€95,605
Other debts
-€24,779
Accrued charges and deferred income
+€24,180
Investment (derived)
-€24,845
Investment in fixed assets (net)
-€24,845
Financing
-€496,224
Debts after one year
-€356,800
Current portion of long-term debt
+€576
Contributions, distributions and other
-€140,000
Cash 2025
€145,538
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,641,849 | €7,730,248 | +€1.1m | +16.4% |
| Fixed assets | 21/28 | €278,582 | €273,629 | -€4,953 | -1.8% |
| Intangible fixed assets | 21 | €1,272 | - | -€1,272 | |
| Tangible fixed assets | 22/27 | €207,257 | €212,778 | +€5,521 | +2.7% |
| Land and buildings | 22 | €187,677 | €176,172 | -€11,506 | -6.1% |
| Plant, machinery and equipment | 23 | €624 | - | -€624 | |
| Furniture and vehicles | 24 | €16,029 | €34,090 | +€18,060 | +113% |
| Other tangible fixed assets | 26 | €2,926 | €2,517 | -€410 | -14.0% |
| Financial fixed assets | 28 | €70,053 | €60,851 | -€9,202 | -13.1% |
| Current assets | 29/58 | €6,363,267 | €7,456,619 | +€1.1m | +17.2% |
| Stocks and contracts in progress | 3 | €1,455,692 | €1,729,749 | +€274,056 | +18.8% |
| Stocks | 30/36 | €1,455,692 | €1,729,749 | +€274,056 | +18.8% |
| Amounts receivable within one year | 40/41 | €4,624,919 | €5,539,719 | +€914,801 | +19.8% |
| Trade receivables | 40 | €2,662,957 | €3,865,296 | +€1.2m | +45.2% |
| Other amounts receivable | 41 | €1,961,961 | €1,674,424 | -€287,538 | -14.7% |
| Cash at bank and in hand | 54/58 | €244,034 | €145,538 | -€98,497 | -40.4% |
| Deferred charges and accrued income | 490/1 | €38,622 | €41,613 | +€2,991 | +7.7% |
| Total equity and liabilities | 10/49 | €6,641,849 | €7,730,248 | +€1.1m | +16.4% |
| Equity | 10/15 | €3,876,925 | €4,425,130 | +€548,205 | +14.1% |
| Contributions | 10/11 | €840,000 | €840,000 | = | 0.0% |
| Capital | 10 | €840,000 | €840,000 | = | 0.0% |
| Issued capital | 100 | €840,000 | €840,000 | = | 0.0% |
| Reserves | 13 | €2,990,509 | €3,538,714 | +€548,205 | +18.3% |
| Non-distributable reserves | 130/1 | €84,000 | €84,000 | = | 0.0% |
| Legal reserve | 130 | €84,000 | €84,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €244 | €244 | = | 0.0% |
| Distributable reserves | 133 | €2,906,265 | €3,454,470 | +€548,205 | +18.9% |
| Profit (loss) carried forward | 14 | €46,416 | €46,416 | = | 0.0% |
| Provisions and deferred taxes | 16 | €368,776 | €364,525 | -€4,251 | -1.2% |
| Provisions for liabilities and charges | 160/5 | €368,776 | €364,525 | -€4,251 | -1.2% |
| Other liabilities and charges | 164/5 | €368,776 | €364,525 | -€4,251 | -1.2% |
| Amounts payable | 17/49 | €2,396,148 | €2,940,593 | +€544,445 | +22.7% |
| Amounts payable after more than one year | 17 | €1,120,000 | €763,200 | -€356,800 | -31.9% |
| Financial debts | 170/4 | - | €3,200 | +€3,200 | |
| Other amounts payable | 178/9 | €1,120,000 | €760,000 | -€360,000 | -32.1% |
| Amounts payable within one year | 42/48 | €1,247,654 | €2,124,718 | +€877,064 | +70.3% |
| Current portion of amounts payable after more than one year | 42 | €4,758 | €5,334 | +€576 | +12.1% |
| Trade debts | 44 | €753,084 | €1,749,955 | +€996,872 | +132% |
| Suppliers | 440/4 | €753,084 | €1,749,955 | +€996,872 | +132% |
| Taxes, remuneration and social security | 45 | €200,799 | €105,194 | -€95,605 | -47.6% |
| Taxes | 450/3 | €146,093 | €20,452 | -€125,640 | -86.0% |
| Remuneration and social security | 454/9 | €54,706 | €84,742 | +€30,036 | +54.9% |
| Other amounts payable | 47/48 | €289,014 | €264,235 | -€24,779 | -8.6% |
| Accrued charges and deferred income | 492/3 | €28,494 | €52,675 | +€24,180 | +84.9% |
| Remuneration, social security and pensions | 62 | €625,532 | €676,118 | +€50,586 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,706 | €29,798 | -€3,908 | -11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €804 | -€804 | -€1,607 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,162 | -€4,251 | +€911 | +17.6% |
| Other operating charges | 640/8 | €17,591 | €9,145 | -€8,446 | -48.0% |
| Gross operating margin | 9900 | €1,320,045 | €1,617,079 | +€297,034 | +22.5% |
| Operating profit (loss) | 9901 | €647,574 | €907,073 | +€259,499 | +40.1% |
| Financial income | 75/76B | €2,006 | €2,204 | +€198 | +9.9% |
| Recurring financial income | 75 | €2,006 | €2,204 | +€198 | +9.9% |
| Financial charges | 65/66B | €48,664 | €30,832 | -€17,832 | -36.6% |
| Recurring financial charges | 65 | €48,664 | €30,832 | -€17,832 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €600,915 | €878,445 | +€277,529 | +46.2% |
| Income taxes | 67/77 | €112,605 | €190,240 | +€77,635 | +68.9% |
| Profit (loss) for the period | 9904 | €488,311 | €688,205 | +€199,894 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €488,311 | €688,205 | +€199,894 | +40.9% |
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 15 October 2026 via checked.be.