BRAMO: 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.
BRAMO
Largest movements
- Tangible fixed assets +€548,476
up €548,476 (+78.3%), from €700,797 to €1.2m
of which Land and buildings: +€438,983
- Receivables within one year -€481,037
down €481,037 (-28.3%), from €1.7m to €1.2m
of which Trade receivables: -€469,181
- Cash +€217,659
up €217,659 (+142%), from €153,664 to €371,323
mainly Receivables within one year (+€481,037) and Debts after one year (+€305,761)
- Stocks and contracts +€83,263
up €83,263 (+238%), from €35,000 to €118,263
of which Stocks: +€43,341
- Reserves +€1.2m
up €1.2m (+335%), from €353,322 to €1.5m
of which Distributable reserves: +€1.2m
- Profit (loss) carried forward -€972,118
down €972,118 (-100%), from €972,118 to €0
- Trade debts -€361,437
down €361,437 (-74.8%), from €483,409 to €121,972
- Debts after one year +€305,761
up €305,761 (+79.3%), from €385,712 to €691,474
- Short-term financial debts +€176,540
new in 2025: €176,540
- Gross operating margin +€99,867
up €99,867 (+25.1%), from €398,602 to €498,469
- Depreciation +€89,866
up €89,866 (+141%), from €63,752 to €153,618
- Other operating charges +€13,997
up €13,997 (+114%), from €12,268 to €26,265
- Financial charges +€9,544
up €9,544 (+34.0%), from €28,082 to €37,625
- Taxes -€7,623
down €7,623 (-9.1%), from €84,062 to €76,439
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 | €2,634,765 | €2,979,432 | +€344,667 | +13.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €700,797 | €1,249,273 | +€548,476 | +78.3% |
| Tangible fixed assets | 22/27 | €700,797 | €1,249,273 | +€548,476 | +78.3% |
| Land and buildings | 22 | €484,315 | €923,298 | +€438,983 | +90.6% |
| Plant, machinery and equipment | 23 | €47,385 | €133,954 | +€86,569 | +183% |
| Furniture and vehicles | 24 | €116,836 | €155,460 | +€38,624 | +33.1% |
| Leasing and similar rights | 25 | €52,262 | €36,562 | -€15,700 | -30.0% |
| Current assets | 29/58 | €1,933,968 | €1,730,159 | -€203,809 | -10.5% |
| Stocks and contracts in progress | 3 | €35,000 | €118,263 | +€83,263 | +238% |
| Stocks | 30/36 | €35,000 | €78,341 | +€43,341 | +124% |
| Contracts in progress | 37 | - | €39,921 | +€39,921 | |
| Amounts receivable within one year | 40/41 | €1,702,264 | €1,221,227 | -€481,037 | -28.3% |
| Trade receivables | 40 | €1,099,616 | €630,435 | -€469,181 | -42.7% |
| Other amounts receivable | 41 | €602,648 | €590,792 | -€11,856 | -2.0% |
| Cash at bank and in hand | 54/58 | €153,664 | €371,323 | +€217,659 | +142% |
| Deferred charges and accrued income | 490/1 | €43,041 | €19,347 | -€23,694 | -55.0% |
| Total equity and liabilities | 10/49 | €2,634,765 | €2,979,432 | +€344,667 | +13.1% |
| Equity | 10/15 | €1,343,990 | €1,553,746 | +€209,757 | +15.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €353,322 | €1,535,196 | +€1.2m | +335% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €41,467 | €41,467 | = | 0.0% |
| Distributable reserves | 133 | €310,000 | €1,491,874 | +€1.2m | +381% |
| Profit (loss) carried forward | 14 | €972,118 | €0 | -€972,118 | -100% |
| Amounts payable | 17/49 | €1,290,775 | €1,425,685 | +€134,910 | +10.5% |
| Amounts payable after more than one year | 17 | €385,712 | €691,474 | +€305,761 | +79.3% |
| Financial debts | 170/4 | €385,712 | €691,474 | +€305,761 | +79.3% |
| Amounts payable within one year | 42/48 | €905,063 | €569,642 | -€335,421 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €253,982 | €117,309 | -€136,673 | -53.8% |
| Financial debts | 43 | - | €176,540 | +€176,540 | |
| Credit institutions | 430/8 | - | €176,540 | +€176,540 | |
| Trade debts | 44 | €483,409 | €121,972 | -€361,437 | -74.8% |
| Suppliers | 440/4 | €483,409 | €121,972 | -€361,437 | -74.8% |
| Advances received on contracts in progress | 46 | €1,903 | €0 | -€1,903 | -100% |
| Taxes, remuneration and social security | 45 | €1,091 | €1,935 | +€844 | +77.4% |
| Taxes | 450/3 | €1,091 | €1,935 | +€844 | +77.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €164,678 | €151,887 | -€12,791 | -7.8% |
| Accrued charges and deferred income | 492/3 | - | €164,570 | +€164,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,752 | €153,618 | +€89,866 | +141% |
| Other operating charges | 640/8 | €12,268 | €26,265 | +€13,997 | +114% |
| Gross operating margin | 9900 | €398,602 | €498,469 | +€99,867 | +25.1% |
| Operating profit (loss) | 9901 | €322,581 | €318,586 | -€3,996 | -1.2% |
| Financial income | 75/76B | €3,447 | €5,235 | +€1,788 | +51.9% |
| Recurring financial income | 75 | €3,447 | €5,235 | +€1,788 | +51.9% |
| Financial charges | 65/66B | €28,082 | €37,625 | +€9,544 | +34.0% |
| Recurring financial charges | 65 | €28,082 | €37,625 | +€9,544 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | €297,946 | €286,196 | -€11,751 | -3.9% |
| Income taxes | 67/77 | €84,062 | €76,439 | -€7,623 | -9.1% |
| Profit (loss) for the period | 9904 | €213,884 | €209,757 | -€4,127 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €213,884 | €209,757 | -€4,127 | -1.9% |
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 14 October 2026 via checked.be.