BRAJA: what changed
Two fiscal 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.
BRAJA
Largest movements
- Receivables within one year +€249,361
up €249,361 (+156.2%), from €159,618 to €408,979
of which Trade receivables: +€208,758
- Tangible fixed assets +€72,922
up €72,922 (+5532.8%), from €1,318 to €74,240
of which Plant, machinery and equipment: +€67,074
- Cash -€6,376
down €6,376 (-9.2%), from €69,035 to €62,659
mainly Receivables within one year (-€249,361) and Investment in fixed assets (net) (-€82,697)
- Trade debts +€169,953
up €169,953 (+478.4%), from €35,523 to €205,476
- Tax, wage and social debts +€161,158
up €161,158 (+545.7%), from €29,532 to €190,690
of which Remuneration and social security: +€92,938
- Profit (loss) carried forward -€58,318
down €58,318 (-66.7%), from €87,478 to €29,160
- Current portion of long-term debt +€37,039
up €37,039 (+185.2%), from €20,000 to €57,039
- Debts after one year +€8,482
up €8,482 (+10.7%), from €79,626 to €88,108
- Staff costs +€251,592
up €251,592 (+130.9%), from €192,155 to €443,747
- Gross operating margin +€219,404
up €219,404 (+97.8%), from €224,402 to €443,806
- Taxes +€37,604
new in 2025: €37,604
- Financial charges +€8,135
up €8,135 (+935.1%), from €870 to €9,005
- Depreciation +€5,616
up €5,616 (+135.0%), from €4,159 to €9,775
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €272,619 | €591,232 | +€318,613 | +116.9% |
| Fixed assets | 21/28 | €39,543 | €112,465 | +€72,922 | +184.4% |
| Tangible fixed assets | 22/27 | €1,318 | €74,240 | +€72,922 | +5532.8% |
| Plant, machinery and equipment | 23 | €1,318 | €68,392 | +€67,074 | +5089.1% |
| Furniture and vehicles | 24 | - | €5,848 | +€5,848 | |
| Financial fixed assets | 28 | €38,225 | €38,225 | = | 0.0% |
| Current assets | 29/58 | €233,076 | €478,767 | +€245,691 | +105.4% |
| Stocks and contracts in progress | 3 | €4,423 | €4,423 | = | 0.0% |
| Stocks | 30/36 | €4,423 | €4,423 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €159,618 | €408,979 | +€249,361 | +156.2% |
| Trade receivables | 40 | €32,310 | €241,068 | +€208,758 | +646.1% |
| Other amounts receivable | 41 | €127,308 | €167,911 | +€40,603 | +31.9% |
| Cash at bank and in hand | 54/58 | €69,035 | €62,659 | -€6,376 | -9.2% |
| Deferred charges and accrued income | 490/1 | - | €2,706 | +€2,706 | |
| Total equity and liabilities | 10/49 | €272,619 | €591,232 | +€318,613 | +116.9% |
| Equity | 10/15 | €107,938 | €49,620 | -€58,318 | -54.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,478 | €29,160 | -€58,318 | -66.7% |
| Amounts payable | 17/49 | €164,681 | €541,612 | +€376,931 | +228.9% |
| Amounts payable after more than one year | 17 | €79,626 | €88,108 | +€8,482 | +10.7% |
| Financial debts | 170/4 | €79,626 | €88,108 | +€8,482 | +10.7% |
| Amounts payable within one year | 42/48 | €85,055 | €453,504 | +€368,449 | +433.2% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €57,039 | +€37,039 | +185.2% |
| Financial debts | 43 | - | €299 | +€299 | |
| Credit institutions | 430/8 | - | €299 | +€299 | |
| Trade debts | 44 | €35,523 | €205,476 | +€169,953 | +478.4% |
| Suppliers | 440/4 | €35,523 | €205,476 | +€169,953 | +478.4% |
| Taxes, remuneration and social security | 45 | €29,532 | €190,690 | +€161,158 | +545.7% |
| Taxes | 450/3 | €20,814 | €89,034 | +€68,220 | +327.8% |
| Remuneration and social security | 454/9 | €8,718 | €101,656 | +€92,938 | +1066.0% |
| Remuneration, social security and pensions | 62 | €192,155 | €443,747 | +€251,592 | +130.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,159 | €9,775 | +€5,616 | +135.0% |
| Other operating charges | 640/8 | €1,753 | €1,993 | +€240 | +13.7% |
| Non-recurring operating charges | 66A | €5,568 | - | -€5,568 | |
| Gross operating margin | 9900 | €224,402 | €443,806 | +€219,404 | +97.8% |
| Operating profit (loss) | 9901 | €20,767 | -€11,709 | -€32,476 | |
| Financial income | 75/76B | €4,588 | - | -€4,588 | |
| Recurring financial income | 75 | €208 | - | -€208 | |
| Non-recurring financial income | 76B | €4,380 | - | -€4,380 | |
| Financial charges | 65/66B | €870 | €9,005 | +€8,135 | +935.1% |
| Recurring financial charges | 65 | €870 | €9,005 | +€8,135 | +935.1% |
| Profit (loss) for the period before taxes | 9903 | €24,485 | -€20,714 | -€45,199 | |
| Income taxes | 67/77 | - | €37,604 | +€37,604 | |
| Profit (loss) for the period | 9904 | €24,485 | -€58,318 | -€82,803 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,485 | -€58,318 | -€82,803 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.