BRAVI: 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.
BRAVI
Largest movements
- Receivables within one year +€8,519
up €8,519 (+285.1%), from €2,989 to €11,508
- Cash +€7,875
up €7,875 (+399.9%), from €1,969 to €9,844
mainly Depreciation (+€6,250) and Tax, wage and social debts (+€5,285)
- Intangible fixed assets -€4,000
down €4,000 (-26.1%), from €15,333 to €11,333
- Financial fixed assets +€2,254
up €2,254 (+693.5%), from €325 to €2,579
- Tangible fixed assets -€2,250
down €2,250 (-31.4%), from €7,157 to €4,908
of which Plant, machinery and equipment: -€1,511
- Tax, wage and social debts +€5,285
up €5,285 (+83.8%), from €6,305 to €11,590
of which Remuneration and social security: +€3,137
- Trade debts +€4,838
up €4,838 (+58.4%), from €8,283 to €13,121
- Profit (loss) carried forward +€4,329
up €4,329 (+24.7%), from -€17,562 to -€13,233
- Other debts -€1,832
down €1,832 (-6.4%), from €28,442 to €26,610
- Gross operating margin +€10,490
up €10,490 (+83.0%), from €12,639 to €23,129
- Staff costs -€1,842
down €1,842 (-17.1%), from €10,767 to €8,925
- Other operating charges -€414
down €414 (-15.9%), from €2,598 to €2,183
- Depreciation -€293
down €293 (-4.5%), from €6,542 to €6,250
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 | €31,668 | €44,288 | +€12,621 | +39.9% |
| Fixed assets | 21/28 | €22,816 | €18,820 | -€3,996 | -17.5% |
| Intangible fixed assets | 21 | €15,333 | €11,333 | -€4,000 | -26.1% |
| Tangible fixed assets | 22/27 | €7,157 | €4,908 | -€2,250 | -31.4% |
| Plant, machinery and equipment | 23 | €5,864 | €4,353 | -€1,511 | -25.8% |
| Furniture and vehicles | 24 | €1,294 | €555 | -€738 | -57.1% |
| Financial fixed assets | 28 | €325 | €2,579 | +€2,254 | +693.5% |
| Current assets | 29/58 | €8,852 | €25,469 | +€16,616 | +187.7% |
| Stocks and contracts in progress | 3 | €3,895 | €4,117 | +€222 | +5.7% |
| Stocks | 30/36 | €3,895 | €4,117 | +€222 | +5.7% |
| Amounts receivable within one year | 40/41 | €2,989 | €11,508 | +€8,519 | +285.1% |
| Trade receivables | 40 | €2,989 | €11,508 | +€8,519 | +285.1% |
| Cash at bank and in hand | 54/58 | €1,969 | €9,844 | +€7,875 | +399.9% |
| Total equity and liabilities | 10/49 | €31,668 | €44,288 | +€12,621 | +39.9% |
| Equity | 10/15 | -€11,362 | -€7,033 | +€4,329 | +38.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,562 | -€13,233 | +€4,329 | +24.7% |
| Amounts payable | 17/49 | €43,030 | €51,322 | +€8,291 | +19.3% |
| Amounts payable within one year | 42/48 | €43,030 | €51,322 | +€8,291 | +19.3% |
| Trade debts | 44 | €8,283 | €13,121 | +€4,838 | +58.4% |
| Suppliers | 440/4 | €8,283 | €13,121 | +€4,838 | +58.4% |
| Taxes, remuneration and social security | 45 | €6,305 | €11,590 | +€5,285 | +83.8% |
| Taxes | 450/3 | €3,441 | €5,590 | +€2,148 | +62.4% |
| Remuneration and social security | 454/9 | €2,863 | €6,000 | +€3,137 | +109.6% |
| Other amounts payable | 47/48 | €28,442 | €26,610 | -€1,832 | -6.4% |
| Remuneration, social security and pensions | 62 | €10,767 | €8,925 | -€1,842 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,542 | €6,250 | -€293 | -4.5% |
| Other operating charges | 640/8 | €2,598 | €2,183 | -€414 | -15.9% |
| Gross operating margin | 9900 | €12,639 | €23,129 | +€10,490 | +83.0% |
| Operating profit (loss) | 9901 | -€7,268 | €5,771 | +€13,039 | |
| Financial income | 75/76B | €528 | €365 | -€164 | -31.0% |
| Recurring financial income | 75 | €528 | €365 | -€164 | -31.0% |
| Financial charges | 65/66B | €1,815 | €1,806 | -€9 | -0.5% |
| Recurring financial charges | 65 | €1,815 | €1,806 | -€9 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,555 | €4,329 | +€12,884 | |
| Profit (loss) for the period | 9904 | -€8,555 | €4,329 | +€12,884 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,555 | €4,329 | +€12,884 |
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.