Bralo: 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.
Bralo
Largest movements
- Cash +€273,449
up €273,449 (+346.9%), from €78,829 to €352,278
mainly Net result for the year (+€337,265) and Other debts (+€331,537)
- Stocks and contracts +€163,036
up €163,036 (+39.6%), from €412,125 to €575,162
- Receivables within one year +€62,416
up €62,416 (+180.3%), from €34,626 to €97,042
of which Other amounts receivable: +€90,261
- Tangible fixed assets -€54,889
down €54,889 (-10.4%), from €527,070 to €472,181
of which Furniture and vehicles: -€30,261
- Other debts +€331,537
up €331,537 (+264.5%), from €125,334 to €456,871
- Short-term financial debts +€100,000
up €100,000 (+25.0%), from €400,000 to €500,000
- Debts after one year -€27,098
down €27,098 (-6.5%), from €414,527 to €387,428
- Trade debts +€26,256
up €26,256 (+156.2%), from €16,812 to €43,068
- Tax, wage and social debts +€17,523
up €17,523 (+349.7%), from €5,010 to €22,534
- Gross operating margin +€240,771
up €240,771 (+142.7%), from €168,702 to €409,473
- Other operating charges -€14,548
down €14,548 (-48.1%), from €30,232 to €15,684
- Financial charges -€10,990
down €10,990 (-28.8%), from €38,192 to €27,201
- Depreciation -€8,696
down €8,696 (-22.7%), from €38,386 to €29,691
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 | €1,057,268 | €1,500,048 | +€442,780 | +41.9% |
| Fixed assets | 21/28 | €527,070 | €472,181 | -€54,889 | -10.4% |
| Tangible fixed assets | 22/27 | €527,070 | €472,181 | -€54,889 | -10.4% |
| Land and buildings | 22 | €478,561 | €454,241 | -€24,320 | -5.1% |
| Plant, machinery and equipment | 23 | €9,242 | €8,934 | -€308 | -3.3% |
| Furniture and vehicles | 24 | €39,268 | €9,007 | -€30,261 | -77.1% |
| Current assets | 29/58 | €530,197 | €1,027,867 | +€497,669 | +93.9% |
| Stocks and contracts in progress | 3 | €412,125 | €575,162 | +€163,036 | +39.6% |
| Stocks | 30/36 | €412,125 | €575,162 | +€163,036 | +39.6% |
| Amounts receivable within one year | 40/41 | €34,626 | €97,042 | +€62,416 | +180.3% |
| Trade receivables | 40 | €34,220 | €6,375 | -€27,845 | -81.4% |
| Other amounts receivable | 41 | €406 | €90,667 | +€90,261 | +22230.8% |
| Cash at bank and in hand | 54/58 | €78,829 | €352,278 | +€273,449 | +346.9% |
| Deferred charges and accrued income | 490/1 | €4,617 | €3,385 | -€1,233 | -26.7% |
| Total equity and liabilities | 10/49 | €1,057,268 | €1,500,048 | +€442,780 | +41.9% |
| Equity | 10/15 | €25,584 | €22,648 | -€2,935 | -11.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €15,500 | €12,600 | -€2,900 | -18.7% |
| Distributable reserves | 133 | €15,500 | €12,600 | -€2,900 | -18.7% |
| Profit (loss) carried forward | 14 | €84 | €48 | -€35 | -42.2% |
| Amounts payable | 17/49 | €1,031,684 | €1,477,399 | +€445,715 | +43.2% |
| Amounts payable after more than one year | 17 | €414,527 | €387,428 | -€27,098 | -6.5% |
| Financial debts | 170/4 | €414,527 | €387,428 | -€27,098 | -6.5% |
| Amounts payable within one year | 42/48 | €612,530 | €1,086,804 | +€474,274 | +77.4% |
| Current portion of amounts payable after more than one year | 42 | €65,373 | €64,331 | -€1,042 | -1.6% |
| Financial debts | 43 | €400,000 | €500,000 | +€100,000 | +25.0% |
| Credit institutions | 430/8 | €400,000 | €500,000 | +€100,000 | +25.0% |
| Trade debts | 44 | €16,812 | €43,068 | +€26,256 | +156.2% |
| Suppliers | 440/4 | €16,812 | €43,068 | +€26,256 | +156.2% |
| Taxes, remuneration and social security | 45 | €5,010 | €22,534 | +€17,523 | +349.7% |
| Taxes | 450/3 | €5,010 | €22,534 | +€17,523 | +349.7% |
| Other amounts payable | 47/48 | €125,334 | €456,871 | +€331,537 | +264.5% |
| Accrued charges and deferred income | 492/3 | €4,628 | €3,167 | -€1,460 | -31.6% |
| Non-recurring operating income | 76A | €0 | €6,187 | +€6,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,386 | €29,691 | -€8,696 | -22.7% |
| Other operating charges | 640/8 | €30,232 | €15,684 | -€14,548 | -48.1% |
| Gross operating margin | 9900 | €168,702 | €409,473 | +€240,771 | +142.7% |
| Operating profit (loss) | 9901 | €100,084 | €364,099 | +€264,015 | +263.8% |
| Financial income | 75/76B | €54 | €367 | +€313 | +574.4% |
| Recurring financial income | 75 | €54 | €367 | +€313 | +574.4% |
| Financial charges | 65/66B | €38,192 | €27,201 | -€10,990 | -28.8% |
| Recurring financial charges | 65 | €38,192 | €27,201 | -€10,990 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €61,946 | €337,265 | +€275,318 | +444.4% |
| Income taxes | 67/77 | €2,607 | €0 | -€2,607 | -100.0% |
| Profit (loss) for the period | 9904 | €59,340 | €337,265 | +€277,925 | +468.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,340 | €337,265 | +€277,925 | +468.4% |
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 7 October 2026 via checked.be.