BRAVA PROJECTS: 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.
BRAVA PROJECTS
Largest movements
- Receivables within one year +€14,468
up €14,468 (+110.6%), from €13,081 to €27,549
of which Trade receivables: +€11,455
- Tangible fixed assets -€12,385
down €12,385 (-2.8%), from €434,608 to €422,223
- Debts after one year -€18,058
down €18,058 (-4.0%), from €452,237 to €434,179
- Profit (loss) carried forward +€11,360
no longer reported in 2025 (was -€11,360)
- Gross operating margin +€3,104
up €3,104 (+10.2%), from €30,467 to €33,571
- Purchases and services -€2,582
down €2,582 (-23.8%), from €10,826 to €8,244
- Other operating charges +€1,546
up €1,546 (+1104.3%), from €140 to €1,686
- Turnover +€522
up €522 (+1.3%), from €41,293 to €41,815
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 | €465,509 | €466,757 | +€1,248 | +0.3% |
| Fixed assets | 21/28 | €434,608 | €422,223 | -€12,385 | -2.8% |
| Tangible fixed assets | 22/27 | €434,608 | €422,223 | -€12,385 | -2.8% |
| Land and buildings | 22 | €434,608 | €422,223 | -€12,385 | -2.8% |
| Current assets | 29/58 | €30,901 | €44,534 | +€13,633 | +44.1% |
| Amounts receivable within one year | 40/41 | €13,081 | €27,549 | +€14,468 | +110.6% |
| Trade receivables | 40 | €13,080 | €24,535 | +€11,455 | +87.6% |
| Other amounts receivable | 41 | €1 | €3,014 | +€3,013 | +301300.0% |
| Cash at bank and in hand | 54/58 | €17,820 | €16,985 | -€835 | -4.7% |
| Total equity and liabilities | 10/49 | €465,509 | €466,757 | +€1,248 | +0.3% |
| Equity | 10/15 | -€6,360 | €8,976 | +€15,336 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €3,976 | +€3,976 | |
| Distributable reserves | 133 | - | €3,976 | +€3,976 | |
| Profit (loss) carried forward | 14 | -€11,360 | - | +€11,360 | |
| Amounts payable | 17/49 | €471,869 | €457,781 | -€14,088 | -3.0% |
| Amounts payable after more than one year | 17 | €452,237 | €434,179 | -€18,058 | -4.0% |
| Financial debts | 170/4 | €452,237 | €434,179 | -€18,058 | -4.0% |
| Amounts payable within one year | 42/48 | €19,632 | €23,602 | +€3,970 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €17,807 | €18,058 | +€251 | +1.4% |
| Trade debts | 44 | €1,163 | €3,630 | +€2,467 | +212.1% |
| Suppliers | 440/4 | €1,163 | €3,630 | +€2,467 | +212.1% |
| Taxes, remuneration and social security | 45 | €662 | €1,914 | +€1,252 | +189.1% |
| Taxes | 450/3 | €662 | €1,914 | +€1,252 | +189.1% |
| Turnover | 70 | €41,293 | €41,815 | +€522 | +1.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €10,826 | €8,244 | -€2,582 | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,385 | €12,385 | = | 0.0% |
| Other operating charges | 640/8 | €140 | €1,686 | +€1,546 | +1104.3% |
| Gross operating margin | 9900 | €30,467 | €33,571 | +€3,104 | +10.2% |
| Operating profit (loss) | 9901 | €17,942 | €19,500 | +€1,558 | +8.7% |
| Financial charges | 65/66B | €4,365 | €4,164 | -€201 | -4.6% |
| Recurring financial charges | 65 | €4,365 | €4,164 | -€201 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €13,577 | €15,336 | +€1,759 | +13.0% |
| Profit (loss) for the period | 9904 | €13,577 | €15,336 | +€1,759 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,577 | €15,336 | +€1,759 | +13.0% |
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 4 October 2026 via checked.be.