BRASEAP: 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
BRASEAP
NACE 85.592, Vocational training
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€79,495
2024 · €58,992+€20,503
Equity
€1.1m
2024 · €1.0m+€66,713
Cash
€509,578
2024 · €481,646+€27,932
Balance sheet total
€2.0m
2024 · €2.1m-€56,585
Largest movements
Assets
- Receivables within one year -€119,297
down €119,297 (-17.4%), from €683,873 to €564,577
of which Trade receivables: -€70,886
- Tangible fixed assets +€37,820
up €37,820 (+4.2%), from €911,105 to €948,925
of which Furniture and vehicles: +€42,156
- Cash +€27,932
up €27,932 (+5.8%), from €481,646 to €509,578
mainly Receivables within one year (+€119,297) and Depreciation (+€118,295)
Equity and liabilities
- Short-term financial debts -€163,962
down €163,962 (-56.3%), from €291,000 to €127,038
- Profit (loss) carried forward +€79,495
up €79,495 (+65.5%), from -€121,409 to -€41,913
- Provisions +€64,099
up €64,099 (+22.7%), from €282,571 to €346,670
- Trade debts -€30,128
down €30,128 (-15.0%), from €201,087 to €170,959
Income statement
- Gross operating margin +€233,594
up €233,594 (+11.8%), from €2.0m to €2.2m
- Purchases and services -€94,261
down €94,261 (-16.5%), from €571,054 to €476,793
- Turnover +€62,787
up €62,787 (+12.9%), from €488,352 to €551,140
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
€58,992
Gross operating margin
+€233,594
Staff costs
+€6,106
Depreciation
-€9,395
Write-downs
-€744
Other operating charges
-€457
Other operating items
-€207,856
Financial income
+€105
Financial charges
-€885
Taxes
+€35
Result 2025
€79,495
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€357,732
Investment
-€153,055
Financing
-€176,745
Cash 2024
€481,646
From operations (derived)
+€357,732
Net result for the year
+€79,495
Depreciation
+€118,295
Smaller working-capital items
-€19
Receivables within one year
+€119,297
Provisions
+€64,099
Trade debts
-€30,128
Tax, wage and social debts
+€5,380
Advances received
+€776
Accrued charges and deferred income
+€538
Investment (derived)
-€153,055
Investment in fixed assets (net)
-€153,055
Financing
-€176,745
Short-term financial debts
-€163,962
Contributions, distributions and other
-€12,783
Cash 2025
€509,578
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,093,081 | €2,036,496 | -€56,585 | -2.7% |
| Fixed assets | 21/28 | €918,560 | €953,319 | +€34,760 | +3.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €911,105 | €948,925 | +€37,820 | +4.2% |
| Land and buildings | 22 | €739,744 | €749,811 | +€10,067 | +1.4% |
| Plant, machinery and equipment | 23 | €59,632 | €45,284 | -€14,348 | -24.1% |
| Furniture and vehicles | 24 | €111,674 | €153,830 | +€42,156 | +37.7% |
| Assets under construction and advance payments | 27 | €55 | - | -€55 | |
| Financial fixed assets | 28 | €7,455 | €4,395 | -€3,060 | -41.0% |
| Current assets | 29/58 | €1,174,521 | €1,083,176 | -€91,345 | -7.8% |
| Stocks and contracts in progress | 3 | €2,977 | €3,028 | +€51 | +1.7% |
| Stocks | 30/36 | €2,977 | €3,028 | +€51 | +1.7% |
| Amounts receivable within one year | 40/41 | €683,873 | €564,577 | -€119,297 | -17.4% |
| Trade receivables | 40 | €608,552 | €537,667 | -€70,886 | -11.6% |
| Other amounts receivable | 41 | €75,321 | €26,910 | -€48,411 | -64.3% |
| Cash at bank and in hand | 54/58 | €481,646 | €509,578 | +€27,932 | +5.8% |
| Deferred charges and accrued income | 490/1 | €6,026 | €5,994 | -€32 | -0.5% |
| Total equity and liabilities | 10/49 | €2,093,081 | €2,036,496 | -€56,585 | -2.7% |
| Equity | 10/15 | €1,021,448 | €1,088,160 | +€66,713 | +6.5% |
| Reserves | 13 | €939,551 | €939,551 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,409 | -€41,913 | +€79,495 | +65.5% |
| Investment grants | 15 | €203,306 | €190,523 | -€12,783 | -6.3% |
| Provisions and deferred taxes | 16 | €282,571 | €346,670 | +€64,099 | +22.7% |
| Provisions for liabilities and charges | 160/5 | €282,571 | €346,670 | +€64,099 | +22.7% |
| Other liabilities and charges | 164/5 | €282,571 | €346,670 | +€64,099 | +22.7% |
| Amounts payable | 17/49 | €789,063 | €601,666 | -€187,397 | -23.7% |
| Amounts payable within one year | 42/48 | €786,343 | €598,408 | -€187,935 | -23.9% |
| Financial debts | 43 | €291,000 | €127,038 | -€163,962 | -56.3% |
| Other loans | 439 | €291,000 | €127,038 | -€163,962 | -56.3% |
| Trade debts | 44 | €201,087 | €170,959 | -€30,128 | -15.0% |
| Suppliers | 440/4 | €201,087 | €170,959 | -€30,128 | -15.0% |
| Advances received on contracts in progress | 46 | €14,425 | €15,200 | +€776 | +5.4% |
| Taxes, remuneration and social security | 45 | €279,831 | €285,211 | +€5,380 | +1.9% |
| Taxes | 450/3 | €18,127 | €18,882 | +€755 | +4.2% |
| Remuneration and social security | 454/9 | €261,705 | €266,330 | +€4,625 | +1.8% |
| Accrued charges and deferred income | 492/3 | €2,720 | €3,258 | +€538 | +19.8% |
| Turnover | 70 | €488,352 | €551,140 | +€62,787 | +12.9% |
| Membership fees, donations, legacies and grants | 73 | €1,581,731 | €1,658,341 | +€76,609 | +4.8% |
| Non-recurring operating income | 76A | €909 | €7,579 | +€6,670 | +734% |
| Goods, raw materials, services and sundry goods | 60/61 | €571,054 | €476,793 | -€94,261 | -16.5% |
| Remuneration, social security and pensions | 62 | €1,937,879 | €1,931,773 | -€6,106 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,899 | €118,295 | +€9,395 | +8.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,025 | -€2,281 | +€744 | +24.6% |
| Other operating charges | 640/8 | €7,307 | €7,764 | +€457 | +6.3% |
| Non-recurring operating charges | 66A | €2,139 | - | -€2,139 | |
| Gross operating margin | 9900 | €1,973,613 | €2,207,207 | +€233,594 | +11.8% |
| Operating profit (loss) | 9901 | €66,308 | €87,556 | +€21,248 | +32.0% |
| Financial income | 75/76B | €37 | €142 | +€105 | +284% |
| Recurring financial income | 75 | €37 | €142 | +€105 | +284% |
| Financial charges | 65/66B | €3,293 | €4,178 | +€885 | +26.9% |
| Recurring financial charges | 65 | €3,293 | €4,178 | +€885 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | €63,052 | €83,520 | +€20,468 | +32.5% |
| Income taxes | 67/77 | €4,060 | €4,024 | -€35 | -0.9% |
| Profit (loss) for the period | 9904 | €58,992 | €79,495 | +€20,503 | +34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €58,992 | €79,495 | +€20,503 | +34.8% |
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.