BRABO MARITIME SERVICES: 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.
BRABO MARITIME SERVICES
Largest movements
- Receivables within one year +€275,722
up €275,722 (+62.2%), from €443,249 to €718,971
of which Trade receivables: +€274,620
- Cash -€203,494
down €203,494 (-26.2%), from €778,147 to €574,653
mainly Receivables within one year (-€275,722) and Investment in fixed assets (net) (-€205,700)
- Deferred charges and accrued income +€150,765
up €150,765 (+3,960%), from €3,807 to €154,572
- Accrued charges and deferred income +€206,460
new in 2025: €206,460
- Debts after one year -€131,250
down €131,250 (-14.3%), from €918,750 to €787,500
- Reserves +€128,001
up €128,001 (+136%), from €93,988 to €221,989
- Trade debts -€107,504
down €107,504 (-22.9%), from €470,213 to €362,709
- Tax, wage and social debts +€95,225
new in 2025: €95,225
- Gross operating margin +€183,262
up €183,262 (+65.0%), from €282,126 to €465,388
- Depreciation +€97,616
up €97,616 (+69.7%), from €140,145 to €237,761
- Financial charges +€40,190
up €40,190 (+246%), from €16,331 to €56,521
- Taxes +€11,574
up €11,574 (+37.3%), from €31,000 to €42,574
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 | €3,364,201 | €3,555,133 | +€190,932 | +5.7% |
| Formation expenses | 20 | €2,108 | €1,523 | -€585 | -27.8% |
| Fixed assets | 21/28 | €2,136,890 | €2,105,415 | -€31,475 | -1.5% |
| Tangible fixed assets | 22/27 | €2,136,890 | €2,105,415 | -€31,475 | -1.5% |
| Plant, machinery and equipment | 23 | €100,259 | €164,977 | +€64,718 | +64.6% |
| Furniture and vehicles | 24 | €2,036,631 | €1,940,438 | -€96,193 | -4.7% |
| Current assets | 29/58 | €1,225,203 | €1,448,195 | +€222,992 | +18.2% |
| Amounts receivable within one year | 40/41 | €443,249 | €718,971 | +€275,722 | +62.2% |
| Trade receivables | 40 | €295,924 | €570,544 | +€274,620 | +92.8% |
| Other amounts receivable | 41 | €147,325 | €148,426 | +€1,101 | +0.7% |
| Cash at bank and in hand | 54/58 | €778,147 | €574,653 | -€203,494 | -26.2% |
| Deferred charges and accrued income | 490/1 | €3,807 | €154,572 | +€150,765 | +3,960% |
| Total equity and liabilities | 10/49 | €3,364,201 | €3,555,133 | +€190,932 | +5.7% |
| Equity | 10/15 | €1,343,988 | €1,471,989 | +€128,001 | +9.5% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €93,988 | €221,989 | +€128,001 | +136% |
| Distributable reserves | 133 | €93,988 | €221,989 | +€128,001 | +136% |
| Amounts payable | 17/49 | €2,020,213 | €2,083,144 | +€62,931 | +3.1% |
| Amounts payable after more than one year | 17 | €918,750 | €787,500 | -€131,250 | -14.3% |
| Financial debts | 170/4 | €918,750 | €787,500 | -€131,250 | -14.3% |
| Amounts payable within one year | 42/48 | €1,101,463 | €1,089,184 | -€12,279 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €131,250 | €131,250 | = | 0.0% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Other loans | 439 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €470,213 | €362,709 | -€107,504 | -22.9% |
| Suppliers | 440/4 | €470,213 | €362,709 | -€107,504 | -22.9% |
| Taxes, remuneration and social security | 45 | - | €95,225 | +€95,225 | |
| Taxes | 450/3 | - | €95,225 | +€95,225 | |
| Accrued charges and deferred income | 492/3 | - | €206,460 | +€206,460 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,145 | €237,761 | +€97,616 | +69.7% |
| Other operating charges | 640/8 | €890 | €531 | -€359 | -40.3% |
| Gross operating margin | 9900 | €282,126 | €465,388 | +€183,262 | +65.0% |
| Operating profit (loss) | 9901 | €141,091 | €227,096 | +€86,005 | +61.0% |
| Financial income | 75/76B | €228 | €0 | -€228 | -100.0% |
| Recurring financial income | 75 | €228 | €0 | -€228 | -100.0% |
| Financial charges | 65/66B | €16,331 | €56,521 | +€40,190 | +246% |
| Recurring financial charges | 65 | €16,331 | €56,521 | +€40,190 | +246% |
| Profit (loss) for the period before taxes | 9903 | €124,988 | €170,575 | +€45,587 | +36.5% |
| Income taxes | 67/77 | €31,000 | €42,574 | +€11,574 | +37.3% |
| Profit (loss) for the period | 9904 | €93,988 | €128,002 | +€34,014 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €93,988 | €128,002 | +€34,014 | +36.2% |
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 16 October 2026 via checked.be.