BRAVO DISCOVERY: 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.
BRAVO DISCOVERY
Largest movements
- Receivables within one year +€183,066
up €183,066 (+68.0%), from €269,328 to €452,395
of which Trade receivables: +€139,464
- Tangible fixed assets +€78,551
up €78,551 (+52.0%), from €151,172 to €229,723
of which Land and buildings: +€78,966
- Cash +€19,273
up €19,273 (+110%), from €17,540 to €36,813
mainly Net result for the year (+€170,885) and Tax, wage and social debts (+€65,878)
- Reserves +€141,005
up €141,005 (+281%), from €50,153 to €191,158
- Tax, wage and social debts +€65,878
up €65,878 (+397%), from €16,613 to €82,491
of which Taxes: +€61,035
- Trade debts +€47,209
up €47,209 (+16.4%), from €287,128 to €334,337
- Other debts +€35,134
up €35,134 (+357%), from €9,840 to €44,974
- Gross operating margin +€224,189
up €224,189 (+179%), from €125,041 to €349,230
- Taxes +€55,008
up €55,008 (+548%), from €10,046 to €65,054
- Staff costs +€24,249
up €24,249 (+37.9%), from €63,916 to €88,165
- Depreciation +€12,386
up €12,386 (+152%), from €8,148 to €20,534
- Other operating charges -€11,872
down €11,872 (-94.3%), from €12,584 to €712
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €438,285 | €719,293 | +€281,008 | +64.1% |
| Fixed assets | 21/28 | €151,416 | €229,967 | +€78,551 | +51.9% |
| Tangible fixed assets | 22/27 | €151,172 | €229,723 | +€78,551 | +52.0% |
| Land and buildings | 22 | €143,641 | €222,607 | +€78,966 | +55.0% |
| Furniture and vehicles | 24 | €7,531 | €7,116 | -€415 | -5.5% |
| Financial fixed assets | 28 | €244 | €244 | = | 0.0% |
| Current assets | 29/58 | €286,869 | €489,325 | +€202,457 | +70.6% |
| Amounts receivable within one year | 40/41 | €269,328 | €452,395 | +€183,066 | +68.0% |
| Trade receivables | 40 | €258,013 | €397,477 | +€139,464 | +54.1% |
| Other amounts receivable | 41 | €11,315 | €54,918 | +€43,602 | +385% |
| Cash at bank and in hand | 54/58 | €17,540 | €36,813 | +€19,273 | +110% |
| Deferred charges and accrued income | 490/1 | - | €118 | +€118 | |
| Total equity and liabilities | 10/49 | €438,285 | €719,293 | +€281,008 | +64.1% |
| Equity | 10/15 | €56,473 | €197,358 | +€140,885 | +249% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €50,153 | €191,158 | +€141,005 | +281% |
| Distributable reserves | 133 | €50,153 | €191,158 | +€141,005 | +281% |
| Profit (loss) carried forward | 14 | €120 | - | -€120 | |
| Amounts payable | 17/49 | €381,812 | €521,934 | +€140,123 | +36.7% |
| Amounts payable after more than one year | 17 | €56,284 | €50,697 | -€5,587 | -9.9% |
| Financial debts | 170/4 | €56,284 | €50,697 | -€5,587 | -9.9% |
| Amounts payable within one year | 42/48 | €325,527 | €471,237 | +€145,710 | +44.8% |
| Current portion of amounts payable after more than one year | 42 | €5,316 | €5,587 | +€271 | +5.1% |
| Financial debts | 43 | €6,630 | €3,848 | -€2,782 | -42.0% |
| Credit institutions | 430/8 | €6,630 | €3,848 | -€2,782 | -42.0% |
| Trade debts | 44 | €287,128 | €334,337 | +€47,209 | +16.4% |
| Suppliers | 440/4 | €287,128 | €334,337 | +€47,209 | +16.4% |
| Taxes, remuneration and social security | 45 | €16,613 | €82,491 | +€65,878 | +397% |
| Taxes | 450/3 | €16,613 | €77,648 | +€61,035 | +367% |
| Remuneration and social security | 454/9 | - | €4,844 | +€4,844 | |
| Other amounts payable | 47/48 | €9,840 | €44,974 | +€35,134 | +357% |
| Remuneration, social security and pensions | 62 | €63,916 | €88,165 | +€24,249 | +37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,148 | €20,534 | +€12,386 | +152% |
| Other operating charges | 640/8 | €12,584 | €712 | -€11,872 | -94.3% |
| Gross operating margin | 9900 | €125,041 | €349,230 | +€224,189 | +179% |
| Operating profit (loss) | 9901 | €40,392 | €239,819 | +€199,427 | +494% |
| Financial income | 75/76B | €1,169 | €215 | -€954 | -81.6% |
| Recurring financial income | 75 | €1,169 | €215 | -€954 | -81.6% |
| Financial charges | 65/66B | €7,216 | €4,095 | -€3,121 | -43.3% |
| Recurring financial charges | 65 | €7,216 | €4,095 | -€3,121 | -43.3% |
| Profit (loss) for the period before taxes | 9903 | €34,345 | €235,939 | +€201,594 | +587% |
| Income taxes | 67/77 | €10,046 | €65,054 | +€55,008 | +548% |
| Profit (loss) for the period | 9904 | €24,299 | €170,885 | +€146,586 | +603% |
| Profit (loss) for the period to be appropriated | 9905 | €24,299 | €170,885 | +€146,586 | +603% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.