bravan: 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.
bravan
Largest movements
- Tangible fixed assets +€75,150
up €75,150 (+143.5%), from €52,364 to €127,514
of which Furniture and vehicles: +€84,767
- Receivables within one year +€37,780
up €37,780 (+44.5%), from €84,866 to €122,646
of which Trade receivables: +€19,052
- Cash -€25,099
down €25,099 (-81.1%), from €30,954 to €5,855
mainly Investment in fixed assets (net) (-€111,547) and Receivables within one year (-€37,780)
- Debts after one year +€62,753
up €62,753 (+298.7%), from €21,005 to €83,758
- Short-term financial debts +€19,647
new in 2025: €19,647
- Current portion of long-term debt +€16,283
up €16,283 (+271.3%), from €6,001 to €22,284
- Tax, wage and social debts -€14,629
down €14,629 (-76.4%), from €19,143 to €4,514
- Reserves +€3,592
up €3,592 (+2.7%), from €133,037 to €136,629
- Depreciation +€17,012
up €17,012 (+87.8%), from €19,385 to €36,397
- Other operating charges -€5,750
down €5,750 (-67.6%), from €8,501 to €2,751
- Gross operating margin +€3,575
up €3,575 (+8.5%), from €41,818 to €45,393
- Taxes -€2,778
down €2,778 (-40.0%), from €6,941 to €4,164
- Financial charges +€1,424
up €1,424 (+89.1%), from €1,598 to €3,022
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 | €193,725 | €281,895 | +€88,170 | +45.5% |
| Fixed assets | 21/28 | €55,189 | €130,339 | +€75,150 | +136.2% |
| Tangible fixed assets | 22/27 | €52,364 | €127,514 | +€75,150 | +143.5% |
| Plant, machinery and equipment | 23 | €30,007 | €20,391 | -€9,617 | -32.0% |
| Furniture and vehicles | 24 | €22,356 | €107,123 | +€84,767 | +379.2% |
| Financial fixed assets | 28 | €2,825 | €2,825 | = | 0.0% |
| Current assets | 29/58 | €138,536 | €151,556 | +€13,020 | +9.4% |
| Stocks and contracts in progress | 3 | €20,636 | €20,000 | -€636 | -3.1% |
| Stocks | 30/36 | €20,636 | €20,000 | -€636 | -3.1% |
| Amounts receivable within one year | 40/41 | €84,866 | €122,646 | +€37,780 | +44.5% |
| Trade receivables | 40 | €5,999 | €25,051 | +€19,052 | +317.6% |
| Other amounts receivable | 41 | €78,867 | €97,595 | +€18,728 | +23.7% |
| Cash at bank and in hand | 54/58 | €30,954 | €5,855 | -€25,099 | -81.1% |
| Deferred charges and accrued income | 490/1 | €2,080 | €3,055 | +€975 | +46.9% |
| Total equity and liabilities | 10/49 | €193,725 | €281,895 | +€88,170 | +45.5% |
| Equity | 10/15 | €145,037 | €148,629 | +€3,592 | +2.5% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €133,037 | €136,629 | +€3,592 | +2.7% |
| Distributable reserves | 133 | €133,037 | €136,629 | +€3,592 | +2.7% |
| Amounts payable | 17/49 | €48,688 | €133,266 | +€84,579 | +173.7% |
| Amounts payable after more than one year | 17 | €21,005 | €83,758 | +€62,753 | +298.7% |
| Financial debts | 170/4 | €21,005 | €83,758 | +€62,753 | +298.7% |
| Amounts payable within one year | 42/48 | €27,682 | €49,508 | +€21,826 | +78.8% |
| Current portion of amounts payable after more than one year | 42 | €6,001 | €22,284 | +€16,283 | +271.3% |
| Financial debts | 43 | - | €19,647 | +€19,647 | |
| Credit institutions | 430/8 | - | €19,647 | +€19,647 | |
| Trade debts | 44 | €2,538 | €3,063 | +€524 | +20.7% |
| Suppliers | 440/4 | €2,538 | €3,063 | +€524 | +20.7% |
| Taxes, remuneration and social security | 45 | €19,143 | €4,514 | -€14,629 | -76.4% |
| Taxes | 450/3 | €19,143 | €4,514 | -€14,629 | -76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,385 | €36,397 | +€17,012 | +87.8% |
| Other operating charges | 640/8 | €8,501 | €2,751 | -€5,750 | -67.6% |
| Gross operating margin | 9900 | €41,818 | €45,393 | +€3,575 | +8.5% |
| Operating profit (loss) | 9901 | €13,931 | €6,245 | -€7,686 | -55.2% |
| Financial income | 75/76B | €4,121 | €4,532 | +€411 | +10.0% |
| Recurring financial income | 75 | €4,121 | €4,532 | +€411 | +10.0% |
| Financial charges | 65/66B | €1,598 | €3,022 | +€1,424 | +89.1% |
| Recurring financial charges | 65 | €1,598 | €3,022 | +€1,424 | +89.1% |
| Profit (loss) for the period before taxes | 9903 | €16,454 | €7,755 | -€8,699 | -52.9% |
| Income taxes | 67/77 | €6,941 | €4,164 | -€2,778 | -40.0% |
| Profit (loss) for the period | 9904 | €9,513 | €3,592 | -€5,921 | -62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,513 | €3,592 | -€5,921 | -62.2% |
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 8 October 2026 via checked.be.