Braccas: 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.
Braccas
Largest movements
- Tangible fixed assets +€202,975
up €202,975 (+1,175%), from €17,269 to €220,244
of which Land and buildings: +€207,612
- Receivables within one year +€39,156
new in 2025: €39,156
- Cash -€7,683
down €7,683 (-20.1%), from €38,244 to €30,562
mainly Investment in fixed assets (net) (-€209,478) and Receivables within one year (-€39,156)
- Stocks and contracts +€4,641
up €4,641 (+6.6%), from €70,459 to €75,100
- Debts after one year +€177,419
new in 2025: €177,419
- Other debts +€46,974
up €46,974 (+89.4%), from €52,563 to €99,537
- Reserves +€24,142
up €24,142 (+51.4%), from €46,959 to €71,102
- Tax, wage and social debts -€17,440
down €17,440 (-80.3%), from €21,713 to €4,273
- Current portion of long-term debt +€9,581
new in 2025: €9,581
- Gross operating margin -€31,945
down €31,945 (-46.2%), from €69,094 to €37,148
- Taxes -€13,736
down €13,736 (-87.3%), from €15,742 to €2,006
- Other operating charges +€2,938
up €2,938 (+349%), from €841 to €3,778
- Depreciation +€1,215
up €1,215 (+23.0%), from €5,288 to €6,503
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 | €128,162 | €368,170 | +€240,008 | +187% |
| Fixed assets | 21/28 | €17,269 | €220,244 | +€202,975 | +1,175% |
| Tangible fixed assets | 22/27 | €17,269 | €220,244 | +€202,975 | +1,175% |
| Land and buildings | 22 | - | €207,612 | +€207,612 | |
| Plant, machinery and equipment | 23 | €10,015 | €7,844 | -€2,170 | -21.7% |
| Furniture and vehicles | 24 | €7,254 | €4,788 | -€2,466 | -34.0% |
| Current assets | 29/58 | €110,894 | €147,926 | +€37,033 | +33.4% |
| Stocks and contracts in progress | 3 | €70,459 | €75,100 | +€4,641 | +6.6% |
| Stocks | 30/36 | €70,459 | €75,100 | +€4,641 | +6.6% |
| Amounts receivable within one year | 40/41 | - | €39,156 | +€39,156 | |
| Other amounts receivable | 41 | - | €39,156 | +€39,156 | |
| Cash at bank and in hand | 54/58 | €38,244 | €30,562 | -€7,683 | -20.1% |
| Deferred charges and accrued income | 490/1 | €2,190 | €3,108 | +€918 | +41.9% |
| Total equity and liabilities | 10/49 | €128,162 | €368,170 | +€240,008 | +187% |
| Equity | 10/15 | €51,959 | €76,102 | +€24,142 | +46.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €46,959 | €71,102 | +€24,142 | +51.4% |
| Distributable reserves | 133 | €46,959 | €71,102 | +€24,142 | +51.4% |
| Amounts payable | 17/49 | €76,203 | €292,068 | +€215,865 | +283% |
| Amounts payable after more than one year | 17 | - | €177,419 | +€177,419 | |
| Financial debts | 170/4 | - | €177,419 | +€177,419 | |
| Amounts payable within one year | 42/48 | €76,203 | €114,649 | +€38,446 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,581 | +€9,581 | |
| Trade debts | 44 | €1,927 | €1,258 | -€669 | -34.7% |
| Suppliers | 440/4 | €1,927 | €1,258 | -€669 | -34.7% |
| Taxes, remuneration and social security | 45 | €21,713 | €4,273 | -€17,440 | -80.3% |
| Taxes | 450/3 | €21,713 | €4,273 | -€17,440 | -80.3% |
| Other amounts payable | 47/48 | €52,563 | €99,537 | +€46,974 | +89.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,288 | €6,503 | +€1,215 | +23.0% |
| Other operating charges | 640/8 | €841 | €3,778 | +€2,938 | +349% |
| Gross operating margin | 9900 | €69,094 | €37,148 | -€31,945 | -46.2% |
| Operating profit (loss) | 9901 | €62,965 | €26,867 | -€36,098 | -57.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €263 | €718 | +€456 | +173% |
| Recurring financial charges | 65 | €263 | €718 | +€456 | +173% |
| Profit (loss) for the period before taxes | 9903 | €62,702 | €26,149 | -€36,553 | -58.3% |
| Income taxes | 67/77 | €15,742 | €2,006 | -€13,736 | -87.3% |
| Profit (loss) for the period | 9904 | €46,959 | €24,142 | -€22,817 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €46,959 | €24,142 | -€22,817 | -48.6% |
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 29 October 2026 via checked.be.