BRAPO: 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.
BRAPO
Largest movements
- Tangible fixed assets -€111,784
down €111,784 (-20.4%), from €547,368 to €435,584
of which Furniture and vehicles: -€63,239
- Cash +€90,050
up €90,050 (+62.7%), from €143,634 to €233,684
mainly Depreciation (+€111,784) and Net result for the year (+€31,143)
- Stocks and contracts -€24,608
down €24,608 (-51.7%), from €47,568 to €22,960
of which Stocks: -€24,608
- Debts after one year -€74,722
down €74,722 (-23.9%), from €312,408 to €237,686
- Reserves +€31,143
up €31,143 (+11.3%), from €276,337 to €307,480
of which Distributable reserves: +€31,604
- Tax, wage and social debts -€25,655
down €25,655 (-87.9%), from €29,190 to €3,535
of which Taxes: -€20,142
- Other debts +€15,528
up €15,528 (+30.2%), from €51,412 to €66,939
- Gross operating margin -€32,948
down €32,948 (-6.2%), from €531,064 to €498,116
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 | €815,033 | €768,078 | -€46,955 | -5.8% |
| Fixed assets | 21/28 | €547,553 | €435,768 | -€111,784 | -20.4% |
| Tangible fixed assets | 22/27 | €547,368 | €435,584 | -€111,784 | -20.4% |
| Land and buildings | 22 | €27,047 | €22,478 | -€4,569 | -16.9% |
| Plant, machinery and equipment | 23 | €272,418 | €228,442 | -€43,976 | -16.1% |
| Furniture and vehicles | 24 | €247,902 | €184,663 | -€63,239 | -25.5% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €267,481 | €332,310 | +€64,829 | +24.2% |
| Stocks and contracts in progress | 3 | €47,568 | €22,960 | -€24,608 | -51.7% |
| Stocks | 30/36 | €47,568 | €22,960 | -€24,608 | -51.7% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €63,583 | €66,302 | +€2,719 | +4.3% |
| Trade receivables | 40 | €60,386 | €65,329 | +€4,943 | +8.2% |
| Other amounts receivable | 41 | €3,197 | €973 | -€2,225 | -69.6% |
| Cash at bank and in hand | 54/58 | €143,634 | €233,684 | +€90,050 | +62.7% |
| Deferred charges and accrued income | 490/1 | €12,696 | €9,364 | -€3,332 | -26.2% |
| Total equity and liabilities | 10/49 | €815,033 | €768,078 | -€46,955 | -5.8% |
| Equity | 10/15 | €313,548 | €344,691 | +€31,143 | +9.9% |
| Contributions | 10/11 | €37,211 | €37,211 | = | 0.0% |
| Reserves | 13 | €276,337 | €307,480 | +€31,143 | +11.3% |
| Tax-exempt reserves | 132 | €41,089 | €40,628 | -€462 | -1.1% |
| Distributable reserves | 133 | €235,248 | €266,852 | +€31,604 | +13.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €897 | €782 | -€115 | -12.9% |
| Deferred taxes | 168 | €897 | €782 | -€115 | -12.9% |
| Amounts payable | 17/49 | €500,588 | €422,606 | -€77,982 | -15.6% |
| Amounts payable after more than one year | 17 | €312,408 | €237,686 | -€74,722 | -23.9% |
| Financial debts | 170/4 | €312,408 | €237,686 | -€74,722 | -23.9% |
| Amounts payable within one year | 42/48 | €182,714 | €180,439 | -€2,274 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €73,437 | €74,722 | +€1,285 | +1.8% |
| Trade debts | 44 | €28,676 | €35,243 | +€6,568 | +22.9% |
| Suppliers | 440/4 | €28,676 | €35,243 | +€6,568 | +22.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €29,190 | €3,535 | -€25,655 | -87.9% |
| Taxes | 450/3 | €23,677 | €3,535 | -€20,142 | -85.1% |
| Remuneration and social security | 454/9 | €5,512 | €0 | -€5,512 | -100.0% |
| Other amounts payable | 47/48 | €51,412 | €66,939 | +€15,528 | +30.2% |
| Accrued charges and deferred income | 492/3 | €5,467 | €4,481 | -€986 | -18.0% |
| Remuneration, social security and pensions | 62 | €324,665 | €327,771 | +€3,106 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,782 | €111,784 | -€3,998 | -3.5% |
| Other operating charges | 640/8 | €2,315 | €2,388 | +€73 | +3.2% |
| Gross operating margin | 9900 | €531,064 | €498,116 | -€32,948 | -6.2% |
| Operating profit (loss) | 9901 | €88,301 | €56,172 | -€32,129 | -36.4% |
| Financial income | 75/76B | €1,332 | €4,540 | +€3,208 | +240.9% |
| Recurring financial income | 75 | €1,332 | €4,540 | +€3,208 | +240.9% |
| Financial charges | 65/66B | €17,813 | €15,308 | -€2,505 | -14.1% |
| Recurring financial charges | 65 | €17,813 | €15,308 | -€2,505 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €71,820 | €45,404 | -€26,416 | -36.8% |
| Transfer from deferred taxes | 780 | €115 | €115 | = | 0.0% |
| Income taxes | 67/77 | €18,194 | €14,377 | -€3,817 | -21.0% |
| Profit (loss) for the period | 9904 | €53,742 | €31,143 | -€22,599 | -42.1% |
| Transfer from tax-exempt reserves | 789 | €462 | €462 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,203 | €31,604 | -€22,599 | -41.7% |
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 12 October 2026 via checked.be.