BRAVENE: 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.
BRAVENE
Largest movements
- Tangible fixed assets -€7,911
down €7,911 (-49.0%), from €16,153 to €8,242
of which Furniture and vehicles: -€6,864
- Receivables within one year +€3,740
up €3,740 (+44.0%), from €8,492 to €12,232
- Deferred charges and accrued income -€2,960
down €2,960 (-22.3%), from €13,246 to €10,285
- Reserves -€20,000
down €20,000 (-22.0%), from €90,860 to €70,860
- Profit (loss) carried forward +€6,261
up €6,261 (+9.2%), from €68,211 to €74,472
- Tax, wage and social debts +€5,934
up €5,934 (+8945.7%), from €66 to €6,000
- Financial income +€11,530
up €11,530 (+956.8%), from €1,205 to €12,735
- Gross operating margin +€4,141
up €4,141, from -€1,355 to €2,786
- Other operating charges -€2,708
down €2,708 (-90.2%), from €3,002 to €294
- Depreciation -€166
down €166 (-2.1%), from €8,077 to €7,911
- Financial charges +€152
up €152 (+23.8%), from €639 to €791
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 | €172,138 | €164,498 | -€7,640 | -4.4% |
| Fixed assets | 21/28 | €16,153 | €8,242 | -€7,911 | -49.0% |
| Tangible fixed assets | 22/27 | €16,153 | €8,242 | -€7,911 | -49.0% |
| Plant, machinery and equipment | 23 | €3,663 | €2,616 | -€1,047 | -28.6% |
| Furniture and vehicles | 24 | €12,490 | €5,626 | -€6,864 | -55.0% |
| Current assets | 29/58 | €155,984 | €156,255 | +€271 | +0.2% |
| Amounts receivable within one year | 40/41 | €8,492 | €12,232 | +€3,740 | +44.0% |
| Other amounts receivable | 41 | €8,492 | €12,232 | +€3,740 | +44.0% |
| Current investments | 50/53 | €116,318 | €116,987 | +€670 | +0.6% |
| Cash at bank and in hand | 54/58 | €17,929 | €16,751 | -€1,178 | -6.6% |
| Deferred charges and accrued income | 490/1 | €13,246 | €10,285 | -€2,960 | -22.3% |
| Total equity and liabilities | 10/49 | €172,138 | €164,498 | -€7,640 | -4.4% |
| Equity | 10/15 | €171,471 | €157,732 | -€13,739 | -8.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €90,860 | €70,860 | -€20,000 | -22.0% |
| Distributable reserves | 133 | €90,860 | €70,860 | -€20,000 | -22.0% |
| Profit (loss) carried forward | 14 | €68,211 | €74,472 | +€6,261 | +9.2% |
| Amounts payable | 17/49 | €667 | €6,766 | +€6,099 | +914.8% |
| Amounts payable within one year | 42/48 | €667 | €6,766 | +€6,099 | +914.8% |
| Trade debts | 44 | €600 | €766 | +€165 | +27.6% |
| Suppliers | 440/4 | €600 | €766 | +€165 | +27.6% |
| Taxes, remuneration and social security | 45 | €66 | €6,000 | +€5,934 | +8945.7% |
| Taxes | 450/3 | €66 | €6,000 | +€5,934 | +8945.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,077 | €7,911 | -€166 | -2.1% |
| Other operating charges | 640/8 | €3,002 | €294 | -€2,708 | -90.2% |
| Gross operating margin | 9900 | -€1,355 | €2,786 | +€4,141 | |
| Operating profit (loss) | 9901 | -€12,435 | -€5,420 | +€7,015 | +56.4% |
| Financial income | 75/76B | €1,205 | €12,735 | +€11,530 | +956.8% |
| Recurring financial income | 75 | €1,205 | €12,735 | +€11,530 | +956.8% |
| Financial charges | 65/66B | €639 | €791 | +€152 | +23.8% |
| Recurring financial charges | 65 | €639 | €791 | +€152 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | -€11,868 | €6,525 | +€18,393 | |
| Income taxes | 67/77 | €217 | €264 | +€47 | +21.6% |
| Profit (loss) for the period | 9904 | -€12,085 | €6,261 | +€18,346 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,085 | €6,261 | +€18,346 |
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 1 October 2026 via checked.be.