BRAVISSIMO: 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.
BRAVISSIMO
Largest movements
- Receivables within one year -€29,211
down €29,211 (-18.0%), from €162,324 to €133,113
of which Trade receivables: -€19,433
- Tangible fixed assets -€25,155
down €25,155 (-7.8%), from €322,545 to €297,390
of which Land and buildings: -€38,415
- Stocks and contracts -€18,352
down €18,352 (-18.1%), from €101,318 to €82,966
- Intangible fixed assets +€17,073
new in 2026: €17,073
- Trade debts -€48,327
down €48,327 (-50.0%), from €96,740 to €48,413
- Profit (loss) carried forward +€30,457
up €30,457 (+62.9%), from €48,417 to €78,874
- Debts after one year -€23,459
down €23,459 (-7.2%), from €325,376 to €301,916
- Short-term financial debts -€9,976
down €9,976 (-64.2%), from €15,532 to €5,556
- Advances received -€8,509
down €8,509 (-24.5%), from €34,693 to €26,184
- Gross operating margin -€34,151
down €34,151 (-26.4%), from €129,354 to €95,204
- Taxes -€8,040
down €8,040 (-47.3%), from €17,006 to €8,967
- Depreciation +€7,448
up €7,448 (+18.0%), from €41,365 to €48,814
- Financial charges -€2,133
down €2,133 (-18.7%), from €11,420 to €9,287
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €741,508 | €681,841 | -€59,666 | -8.0% |
| Fixed assets | 21/28 | €322,738 | €314,696 | -€8,042 | -2.5% |
| Intangible fixed assets | 21 | - | €17,073 | +€17,073 | |
| Tangible fixed assets | 22/27 | €322,545 | €297,390 | -€25,155 | -7.8% |
| Land and buildings | 22 | €312,457 | €274,042 | -€38,415 | -12.3% |
| Plant, machinery and equipment | 23 | €1,717 | €12,731 | +€11,014 | +641.3% |
| Furniture and vehicles | 24 | €8,371 | €10,617 | +€2,246 | +26.8% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €193 | €233 | +€40 | +20.7% |
| Current assets | 29/58 | €418,770 | €367,145 | -€51,625 | -12.3% |
| Stocks and contracts in progress | 3 | €101,318 | €82,966 | -€18,352 | -18.1% |
| Stocks | 30/36 | €101,318 | €82,966 | -€18,352 | -18.1% |
| Amounts receivable within one year | 40/41 | €162,324 | €133,113 | -€29,211 | -18.0% |
| Trade receivables | 40 | €68,447 | €49,013 | -€19,433 | -28.4% |
| Other amounts receivable | 41 | €93,877 | €84,099 | -€9,777 | -10.4% |
| Current investments | 50/53 | €71,402 | €75,714 | +€4,313 | +6.0% |
| Cash at bank and in hand | 54/58 | €77,598 | €70,961 | -€6,636 | -8.6% |
| Deferred charges and accrued income | 490/1 | €6,129 | €4,391 | -€1,738 | -28.4% |
| Total equity and liabilities | 10/49 | €741,508 | €681,841 | -€59,666 | -8.0% |
| Equity | 10/15 | €237,562 | €268,018 | +€30,457 | +12.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €170,552 | €170,552 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,915 | €8,915 | = | 0.0% |
| Distributable reserves | 133 | €161,638 | €161,638 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,417 | €78,874 | +€30,457 | +62.9% |
| Amounts payable | 17/49 | €503,946 | €413,823 | -€90,123 | -17.9% |
| Amounts payable after more than one year | 17 | €325,376 | €301,916 | -€23,459 | -7.2% |
| Financial debts | 170/4 | €325,376 | €301,916 | -€23,459 | -7.2% |
| Amounts payable within one year | 42/48 | €174,820 | €109,730 | -€65,091 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €27,782 | €29,503 | +€1,721 | +6.2% |
| Financial debts | 43 | €15,532 | €5,556 | -€9,976 | -64.2% |
| Credit institutions | 430/8 | €15,532 | €5,556 | -€9,976 | -64.2% |
| Trade debts | 44 | €96,740 | €48,413 | -€48,327 | -50.0% |
| Suppliers | 440/4 | €96,740 | €48,413 | -€48,327 | -50.0% |
| Advances received on contracts in progress | 46 | €34,693 | €26,184 | -€8,509 | -24.5% |
| Taxes, remuneration and social security | 45 | €74 | €74 | = | 0.0% |
| Taxes | 450/3 | €74 | €74 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,750 | €2,177 | -€1,573 | -42.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,365 | €48,814 | +€7,448 | +18.0% |
| Other operating charges | 640/8 | €2,223 | €2,398 | +€175 | +7.9% |
| Non-recurring operating charges | 66A | €14,749 | €0 | -€14,749 | -100.0% |
| Gross operating margin | 9900 | €129,354 | €95,204 | -€34,151 | -26.4% |
| Operating profit (loss) | 9901 | €71,017 | €43,992 | -€27,025 | -38.1% |
| Financial income | 75/76B | €5,827 | €4,718 | -€1,109 | -19.0% |
| Recurring financial income | 75 | €5,827 | €4,718 | -€1,109 | -19.0% |
| Financial charges | 65/66B | €11,420 | €9,287 | -€2,133 | -18.7% |
| Recurring financial charges | 65 | €11,420 | €9,287 | -€2,133 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €65,424 | €39,423 | -€26,000 | -39.7% |
| Income taxes | 67/77 | €17,006 | €8,967 | -€8,040 | -47.3% |
| Profit (loss) for the period | 9904 | €48,417 | €30,457 | -€17,960 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,417 | €30,457 | -€17,960 | -37.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.