Brafats: 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
Brafats
NACE 55.100, Hotels and similar accommodation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2,542
2024 · €6,474-€9,016
Equity
€177,955
2024 · €183,198-€5,243
Cash
€31,571
2024 · €34,876-€3,305
Balance sheet total
€988,009
2024 · €1.0m-€23,725
Largest movements
Assets
- Financial fixed assets +€50,706
up €50,706 (+633.8%), from €8,000 to €58,706
- Tangible fixed assets -€37,377
down €37,377 (-4.1%), from €922,252 to €884,875
of which Land and buildings: -€31,226
- Receivables within one year -€22,085
down €22,085 (-68.9%), from €32,060 to €9,975
of which Trade receivables: -€23,208
- Deferred charges and accrued income -€11,103
down €11,103 (-80.7%), from €13,750 to €2,647
Equity and liabilities
- Advances received -€44,856
no longer reported in 2025 (was €44,856)
- Provisions +€19,100
up €19,100 (+74.0%), from €25,810 to €44,910
of which Provisions for liabilities and charges: +€20,000
- Accrued charges and deferred income -€10,218
down €10,218 (-85.2%), from €11,993 to €1,775
Income statement
- Gross operating margin +€27,954
up €27,954 (+19.5%), from €143,617 to €171,572
- Financial income -€21,711
down €21,711 (-88.3%), from €24,581 to €2,871
- Provisions +€20,000
new in 2025: €20,000
- Staff costs -€8,586
down €8,586 (-9.0%), from €95,220 to €86,633
- Financial charges -€2,784
down €2,784 (-14.7%), from €18,999 to €16,215
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
€6,474
Gross operating margin
+€27,954
Staff costs
+€8,586
Depreciation
-€1,755
Provisions
-€20,000
Other operating charges
-€28
Other operating items
-€3,103
Financial income
-€21,711
Financial charges
+€2,784
Deferred taxes and other
-€1,745
Result 2025
-€2,542
Cash bridge derived
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
+€44,112
Investment
-€59,076
Financing
+€11,659
Cash 2024
€34,876
From operations (derived)
+€44,112
Net result for the year
-€2,542
Depreciation
+€46,017
Stocks and contracts
+€290
Receivables within one year
+€22,085
Deferred charges and accrued income
+€11,103
Provisions
+€19,100
Trade debts
+€3,419
Tax, wage and social debts
-€2,053
Advances received
-€44,856
Other debts
+€1,767
Accrued charges and deferred income
-€10,218
Investment (derived)
-€59,076
Investment in fixed assets (net)
-€59,076
Financing
+€11,659
Debts after one year
-€4,284
Current portion of long-term debt
+€9,143
Short-term financial debts
+€9,500
Contributions, distributions and other
-€2,700
Cash 2025
€31,571
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,011,734 | €988,009 | -€23,725 | -2.3% |
| Formation expenses | 20 | €43 | - | -€43 | |
| Fixed assets | 21/28 | €930,479 | €943,581 | +€13,102 | +1.4% |
| Intangible fixed assets | 21 | €227 | - | -€227 | |
| Tangible fixed assets | 22/27 | €922,252 | €884,875 | -€37,377 | -4.1% |
| Land and buildings | 22 | €850,789 | €819,563 | -€31,226 | -3.7% |
| Plant, machinery and equipment | 23 | €29,259 | €26,753 | -€2,506 | -8.6% |
| Furniture and vehicles | 24 | €14,296 | €13,687 | -€609 | -4.3% |
| Other tangible fixed assets | 26 | €27,908 | €24,872 | -€3,036 | -10.9% |
| Financial fixed assets | 28 | €8,000 | €58,706 | +€50,706 | +633.8% |
| Current assets | 29/58 | €81,211 | €44,428 | -€36,784 | -45.3% |
| Stocks and contracts in progress | 3 | €525 | €235 | -€290 | -55.2% |
| Stocks | 30/36 | €525 | €235 | -€290 | -55.2% |
| Amounts receivable within one year | 40/41 | €32,060 | €9,975 | -€22,085 | -68.9% |
| Trade receivables | 40 | €31,749 | €8,541 | -€23,208 | -73.1% |
| Other amounts receivable | 41 | €311 | €1,434 | +€1,122 | +360.4% |
| Cash at bank and in hand | 54/58 | €34,876 | €31,571 | -€3,305 | -9.5% |
| Deferred charges and accrued income | 490/1 | €13,750 | €2,647 | -€11,103 | -80.7% |
| Total equity and liabilities | 10/49 | €1,011,734 | €988,009 | -€23,725 | -2.3% |
| Equity | 10/15 | €183,198 | €177,955 | -€5,243 | -2.9% |
| Contributions | 10/11 | €106,200 | €106,200 | = | 0.0% |
| Revaluation surpluses | 12 | €63,075 | €63,075 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,507 | -€66,049 | -€2,542 | -4.0% |
| Investment grants | 15 | €77,430 | €74,729 | -€2,700 | -3.5% |
| Provisions and deferred taxes | 16 | €25,810 | €44,910 | +€19,100 | +74.0% |
| Provisions for liabilities and charges | 160/5 | - | €20,000 | +€20,000 | |
| Other liabilities and charges | 164/5 | - | €20,000 | +€20,000 | |
| Deferred taxes | 168 | €25,810 | €24,910 | -€900 | -3.5% |
| Amounts payable | 17/49 | €802,726 | €765,144 | -€37,582 | -4.7% |
| Amounts payable after more than one year | 17 | €616,541 | €612,257 | -€4,284 | -0.7% |
| Financial debts | 170/4 | €558,575 | €612,257 | +€53,682 | +9.6% |
| Other amounts payable | 178/9 | €57,966 | - | -€57,966 | |
| Amounts payable within one year | 42/48 | €174,191 | €151,111 | -€23,080 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €39,735 | €48,878 | +€9,143 | +23.0% |
| Financial debts | 43 | €27,000 | €36,500 | +€9,500 | +35.2% |
| Other loans | 439 | €27,000 | €36,500 | +€9,500 | +35.2% |
| Trade debts | 44 | €35,250 | €38,669 | +€3,419 | +9.7% |
| Suppliers | 440/4 | €35,250 | €38,669 | +€3,419 | +9.7% |
| Advances received on contracts in progress | 46 | €44,856 | - | -€44,856 | |
| Taxes, remuneration and social security | 45 | €26,618 | €24,565 | -€2,053 | -7.7% |
| Taxes | 450/3 | €2,976 | €6,702 | +€3,726 | +125.2% |
| Remuneration and social security | 454/9 | €23,642 | €17,863 | -€5,779 | -24.4% |
| Other amounts payable | 47/48 | €733 | €2,500 | +€1,767 | +240.9% |
| Accrued charges and deferred income | 492/3 | €11,993 | €1,775 | -€10,218 | -85.2% |
| Non-recurring operating income | 76A | €895 | €9,392 | +€8,497 | +949.4% |
| Remuneration, social security and pensions | 62 | €95,220 | €86,633 | -€8,586 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,262 | €46,017 | +€1,755 | +4.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €5,889 | €5,917 | +€28 | +0.5% |
| Non-recurring operating charges | 66A | - | €3,103 | +€3,103 | |
| Gross operating margin | 9900 | €143,617 | €171,572 | +€27,954 | +19.5% |
| Operating profit (loss) | 9901 | -€1,753 | €9,902 | +€11,655 | |
| Financial income | 75/76B | €24,581 | €2,871 | -€21,711 | -88.3% |
| Recurring financial income | 75 | €24,581 | €2,871 | -€21,711 | -88.3% |
| Financial charges | 65/66B | €18,999 | €16,215 | -€2,784 | -14.7% |
| Recurring financial charges | 65 | €18,999 | €16,215 | -€2,784 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €3,829 | -€3,442 | -€7,272 | |
| Transfer from deferred taxes | 780 | €2,645 | €900 | -€1,745 | -66.0% |
| Profit (loss) for the period | 9904 | €6,474 | -€2,542 | -€9,016 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,474 | -€2,542 | -€9,016 |
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 10 October 2026 via checked.be.