BRAVILOR BELUX: 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.
BRAVILOR BELUX
Largest movements
- Receivables within one year +€360,729
up €360,729 (+34.4%), from €1.0m to €1.4m
of which Other amounts receivable: +€492,173
- Stocks and contracts -€303,427
down €303,427 (-32.9%), from €921,563 to €618,136
- Cash +€77,073
up €77,073 (+131%), from €58,895 to €135,968
mainly Stocks and contracts (+€303,427) and Net result for the year (+€127,118)
- Reserves +€127,118
up €127,118 (+6.2%), from €2.0m to €2.2m
of which Distributable reserves: +€127,118
- Tax, wage and social debts -€37,279
down €37,279 (-29.3%), from €127,402 to €90,123
of which Taxes: -€28,566
- Staff costs -€127,589
down €127,589 (-19.4%), from €656,074 to €528,485
- Gross operating margin -€120,954
down €120,954 (-13.3%), from €912,663 to €791,709
- Write-downs +€48,192
up €48,192 (+741%), from €6,505 to €54,697
- Taxes -€17,898
down €17,898 (-29.9%), from €59,945 to €42,048
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 | €2,462,320 | €2,559,289 | +€96,969 | +3.9% |
| Fixed assets | 21/28 | €388,095 | €372,813 | -€15,282 | -3.9% |
| Tangible fixed assets | 22/27 | €388,095 | €372,813 | -€15,282 | -3.9% |
| Land and buildings | 22 | €320,074 | €319,116 | -€959 | -0.3% |
| Plant, machinery and equipment | 23 | €56,225 | €48,548 | -€7,677 | -13.7% |
| Furniture and vehicles | 24 | €11,796 | €5,149 | -€6,646 | -56.3% |
| Current assets | 29/58 | €2,074,225 | €2,186,476 | +€112,251 | +5.4% |
| Stocks and contracts in progress | 3 | €921,563 | €618,136 | -€303,427 | -32.9% |
| Stocks | 30/36 | €921,563 | €618,136 | -€303,427 | -32.9% |
| Amounts receivable within one year | 40/41 | €1,049,166 | €1,409,895 | +€360,729 | +34.4% |
| Trade receivables | 40 | €682,543 | €551,100 | -€131,443 | -19.3% |
| Other amounts receivable | 41 | €366,623 | €858,795 | +€492,173 | +134% |
| Cash at bank and in hand | 54/58 | €58,895 | €135,968 | +€77,073 | +131% |
| Deferred charges and accrued income | 490/1 | €44,601 | €22,476 | -€22,124 | -49.6% |
| Total equity and liabilities | 10/49 | €2,462,320 | €2,559,289 | +€96,969 | +3.9% |
| Equity | 10/15 | €2,240,459 | €2,367,577 | +€127,118 | +5.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €2,040,459 | €2,167,577 | +€127,118 | +6.2% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,966 | €3,966 | = | 0.0% |
| Distributable reserves | 133 | €2,016,493 | €2,143,611 | +€127,118 | +6.3% |
| Amounts payable | 17/49 | €221,861 | €191,712 | -€30,149 | -13.6% |
| Amounts payable within one year | 42/48 | €218,661 | €188,212 | -€30,449 | -13.9% |
| Trade debts | 44 | €91,259 | €98,089 | +€6,830 | +7.5% |
| Suppliers | 440/4 | €91,259 | €98,089 | +€6,830 | +7.5% |
| Taxes, remuneration and social security | 45 | €127,402 | €90,123 | -€37,279 | -29.3% |
| Taxes | 450/3 | €66,920 | €38,354 | -€28,566 | -42.7% |
| Remuneration and social security | 454/9 | €60,482 | €51,769 | -€8,713 | -14.4% |
| Accrued charges and deferred income | 492/3 | €3,200 | €3,500 | +€300 | +9.4% |
| Remuneration, social security and pensions | 62 | €656,074 | €528,485 | -€127,589 | -19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,239 | €29,302 | +€2,064 | +7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,505 | €54,697 | +€48,192 | +741% |
| Other operating charges | 640/8 | €9,522 | €9,590 | +€69 | +0.7% |
| Non-recurring operating charges | 66A | - | €11,122 | +€11,122 | |
| Gross operating margin | 9900 | €912,663 | €791,709 | -€120,954 | -13.3% |
| Operating profit (loss) | 9901 | €213,323 | €158,512 | -€54,812 | -25.7% |
| Financial income | 75/76B | €8,549 | €16,442 | +€7,893 | +92.3% |
| Recurring financial income | 75 | €8,549 | €16,442 | +€7,893 | +92.3% |
| Financial charges | 65/66B | €4,052 | €5,788 | +€1,736 | +42.8% |
| Recurring financial charges | 65 | €4,052 | €5,788 | +€1,736 | +42.8% |
| Profit (loss) for the period before taxes | 9903 | €217,821 | €169,166 | -€48,655 | -22.3% |
| Income taxes | 67/77 | €59,945 | €42,048 | -€17,898 | -29.9% |
| Profit (loss) for the period | 9904 | €157,875 | €127,118 | -€30,757 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €157,875 | €127,118 | -€30,757 | -19.5% |
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 30 October 2026 via checked.be.