BRAVADI: 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.
BRAVADI
Largest movements
- Cash +€21,381
up €21,381 (+52.3%), from €40,862 to €62,243
mainly Net result for the year (+€17,530) and Tax, wage and social debts (+€2,319)
- Profit (loss) carried forward +€9,090
up €9,090, from -€9,034 to €56
- Reserves +€8,440
up €8,440 (+81.1%), from €10,410 to €18,850
- Tax, wage and social debts +€2,319
up €2,319 (+263.6%), from €880 to €3,198
- Trade debts +€2,167
up €2,167 (+652.9%), from €332 to €2,499
- Gross operating margin +€27,067
up €27,067, from -€1,512 to €25,556
- Taxes +€5,939
up €5,939 (+1192.0%), from €498 to €6,437
- Depreciation -€352
down €352 (-28.2%), from €1,249 to €897
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 | €47,718 | €69,640 | +€21,922 | +45.9% |
| Fixed assets | 21/28 | €4,356 | €4,458 | +€102 | +2.3% |
| Tangible fixed assets | 22/27 | €4,356 | €4,458 | +€102 | +2.3% |
| Plant, machinery and equipment | 23 | €1,901 | €1,701 | -€200 | -10.5% |
| Furniture and vehicles | 24 | €2,455 | €2,757 | +€302 | +12.3% |
| Current assets | 29/58 | €43,362 | €65,182 | +€21,820 | +50.3% |
| Cash at bank and in hand | 54/58 | €40,862 | €62,243 | +€21,381 | +52.3% |
| Deferred charges and accrued income | 490/1 | €2,500 | €2,939 | +€439 | +17.6% |
| Total equity and liabilities | 10/49 | €47,718 | €69,640 | +€21,922 | +45.9% |
| Equity | 10/15 | €13,776 | €31,306 | +€17,530 | +127.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €10,410 | €18,850 | +€8,440 | +81.1% |
| Distributable reserves | 133 | €10,410 | €18,850 | +€8,440 | +81.1% |
| Profit (loss) carried forward | 14 | -€9,034 | €56 | +€9,090 | |
| Amounts payable | 17/49 | €33,942 | €38,334 | +€4,393 | +12.9% |
| Amounts payable within one year | 42/48 | €33,942 | €38,334 | +€4,393 | +12.9% |
| Trade debts | 44 | €332 | €2,499 | +€2,167 | +652.9% |
| Suppliers | 440/4 | €332 | €2,499 | +€2,167 | +652.9% |
| Taxes, remuneration and social security | 45 | €880 | €3,198 | +€2,319 | +263.6% |
| Taxes | 450/3 | €880 | €3,198 | +€2,319 | +263.6% |
| Other amounts payable | 47/48 | €32,730 | €32,636 | -€94 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,249 | €897 | -€352 | -28.2% |
| Other operating charges | 640/8 | €692 | €595 | -€98 | -14.1% |
| Gross operating margin | 9900 | -€1,512 | €25,556 | +€27,067 | |
| Operating profit (loss) | 9901 | -€3,453 | €24,064 | +€27,516 | |
| Financial charges | 65/66B | €104 | €97 | -€7 | -6.5% |
| Recurring financial charges | 65 | €104 | €97 | -€7 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,556 | €23,967 | +€27,523 | |
| Income taxes | 67/77 | €498 | €6,437 | +€5,939 | +1192.0% |
| Profit (loss) for the period | 9904 | -€4,055 | €17,530 | +€21,584 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,055 | €17,530 | +€21,584 |
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 6 October 2026 via checked.be.