Bravence Management: 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.
Bravence Management
Largest movements
- Receivables within one year +€40,632
up €40,632 (+166%), from €24,459 to €65,090
of which Trade receivables: +€34,254
- Tangible fixed assets -€32,598
down €32,598 (-22.2%), from €147,119 to €114,521
of which Land and buildings: -€32,361
- Debts after one year -€36,103
down €36,103 (-19.0%), from €189,632 to €153,529
- Trade debts +€30,270
up €30,270 (+1,174%), from €2,579 to €32,849
- Profit (loss) carried forward +€18,416
up €18,416 (+25.8%), from €71,452 to €89,868
- Other debts -€7,775
down €7,775 (-100%), from €7,775 to €0
- Gross operating margin -€42,924
down €42,924 (-35.1%), from €122,326 to €79,403
- Depreciation +€5,700
up €5,700 (+17.4%), from €32,814 to €38,514
- Financial charges -€4,034
down €4,034 (-17.6%), from €22,880 to €18,846
- Other operating charges -€1,538
down €1,538 (-36.2%), from €4,253 to €2,715
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €333,750 | €341,334 | +€7,584 | +2.3% |
| Fixed assets | 21/28 | €302,119 | €269,521 | -€32,598 | -10.8% |
| Tangible fixed assets | 22/27 | €147,119 | €114,521 | -€32,598 | -22.2% |
| Land and buildings | 22 | €125,552 | €93,190 | -€32,361 | -25.8% |
| Plant, machinery and equipment | 23 | €1,600 | €649 | -€952 | -59.5% |
| Furniture and vehicles | 24 | €19,967 | €20,683 | +€715 | +3.6% |
| Financial fixed assets | 28 | €155,000 | €155,000 | = | 0.0% |
| Current assets | 29/58 | €31,631 | €71,813 | +€40,182 | +127% |
| Amounts receivable within one year | 40/41 | €24,459 | €65,090 | +€40,632 | +166% |
| Trade receivables | 40 | €24,459 | €58,712 | +€34,254 | +140% |
| Other amounts receivable | 41 | - | €6,378 | +€6,378 | |
| Cash at bank and in hand | 54/58 | €5,957 | €3,353 | -€2,604 | -43.7% |
| Deferred charges and accrued income | 490/1 | €1,215 | €3,369 | +€2,154 | +177% |
| Total equity and liabilities | 10/49 | €333,750 | €341,334 | +€7,584 | +2.3% |
| Equity | 10/15 | €81,452 | €99,868 | +€18,416 | +22.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,452 | €89,868 | +€18,416 | +25.8% |
| Amounts payable | 17/49 | €252,298 | €241,466 | -€10,832 | -4.3% |
| Amounts payable after more than one year | 17 | €189,632 | €153,529 | -€36,103 | -19.0% |
| Financial debts | 170/4 | €189,632 | €153,529 | -€36,103 | -19.0% |
| Amounts payable within one year | 42/48 | €62,666 | €87,937 | +€25,271 | +40.3% |
| Current portion of amounts payable after more than one year | 42 | €34,783 | €36,103 | +€1,320 | +3.8% |
| Trade debts | 44 | €2,579 | €32,849 | +€30,270 | +1,174% |
| Suppliers | 440/4 | €2,579 | €32,849 | +€30,270 | +1,174% |
| Taxes, remuneration and social security | 45 | €17,530 | €18,985 | +€1,456 | +8.3% |
| Taxes | 450/3 | €17,530 | €18,985 | +€1,456 | +8.3% |
| Other amounts payable | 47/48 | €7,775 | €0 | -€7,775 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,814 | €38,514 | +€5,700 | +17.4% |
| Other operating charges | 640/8 | €4,253 | €2,715 | -€1,538 | -36.2% |
| Non-recurring operating charges | 66A | €58,391 | €235 | -€58,156 | -99.6% |
| Gross operating margin | 9900 | €122,326 | €79,403 | -€42,924 | -35.1% |
| Operating profit (loss) | 9901 | €26,868 | €37,938 | +€11,070 | +41.2% |
| Financial income | 75/76B | €111 | €198 | +€87 | +78.6% |
| Recurring financial income | 75 | €111 | €198 | +€87 | +78.6% |
| Financial charges | 65/66B | €22,880 | €18,846 | -€4,034 | -17.6% |
| Recurring financial charges | 65 | €22,880 | €18,846 | -€4,034 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €4,098 | €19,290 | +€15,191 | +371% |
| Income taxes | 67/77 | €771 | €874 | +€103 | +13.3% |
| Profit (loss) for the period | 9904 | €3,327 | €18,416 | +€15,089 | +453% |
| Profit (loss) for the period to be appropriated | 9905 | €3,327 | €18,416 | +€15,089 | +453% |
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 27 October 2026 via checked.be.