Bravo Lex: 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 Lex
Largest movements
- Cash -€35,676
down €35,676 (-56.8%), from €62,784 to €27,108
mainly Investment in fixed assets (net) (-€17,343) and Receivables within one year (-€13,518)
- Receivables within one year +€13,518
up €13,518 (+105%), from €12,908 to €26,425
of which Other amounts receivable: +€16,323
- Tangible fixed assets +€10,861
up €10,861 (+89.5%), from €12,133 to €22,994
of which Furniture and vehicles: +€12,715
- Deferred charges and accrued income +€2,110
new in 2025: €2,110
- Short-term financial debts -€9,983
down €9,983 (-59.7%), from €16,714 to €6,731
- Other debts -€4,996
down €4,996 (-41.9%), from €11,933 to €6,936
- Trade debts +€2,736
up €2,736 (+93.6%), from €2,924 to €5,660
- Tax, wage and social debts +€2,466
up €2,466 (+28.2%), from €8,735 to €11,201
- Gross operating margin -€56,540
down €56,540 (-81.7%), from €69,166 to €12,626
- Taxes -€15,440
down €15,440 (-80.8%), from €19,117 to €3,677
- Depreciation +€3,166
up €3,166 (+95.5%), from €3,315 to €6,482
- Financial charges +€700
up €700 (+79.6%), from €879 to €1,579
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 | €87,824 | €78,637 | -€9,188 | -10.5% |
| Fixed assets | 21/28 | €12,133 | €22,994 | +€10,861 | +89.5% |
| Tangible fixed assets | 22/27 | €12,133 | €22,994 | +€10,861 | +89.5% |
| Furniture and vehicles | 24 | €4,753 | €17,468 | +€12,715 | +268% |
| Other tangible fixed assets | 26 | €7,380 | €5,526 | -€1,854 | -25.1% |
| Current assets | 29/58 | €75,692 | €55,643 | -€20,049 | -26.5% |
| Amounts receivable within one year | 40/41 | €12,908 | €26,425 | +€13,518 | +105% |
| Trade receivables | 40 | €12,025 | €9,220 | -€2,805 | -23.3% |
| Other amounts receivable | 41 | €883 | €17,206 | +€16,323 | +1,849% |
| Cash at bank and in hand | 54/58 | €62,784 | €27,108 | -€35,676 | -56.8% |
| Deferred charges and accrued income | 490/1 | - | €2,110 | +€2,110 | |
| Total equity and liabilities | 10/49 | €87,824 | €78,637 | -€9,188 | -10.5% |
| Equity | 10/15 | €47,520 | €47,520 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €43,520 | €43,520 | = | 0.0% |
| Distributable reserves | 133 | €43,520 | €43,520 | = | 0.0% |
| Amounts payable | 17/49 | €40,305 | €31,117 | -€9,188 | -22.8% |
| Amounts payable within one year | 42/48 | €40,305 | €30,528 | -€9,777 | -24.3% |
| Financial debts | 43 | €16,714 | €6,731 | -€9,983 | -59.7% |
| Credit institutions | 430/8 | €16,714 | €6,731 | -€9,983 | -59.7% |
| Trade debts | 44 | €2,924 | €5,660 | +€2,736 | +93.6% |
| Suppliers | 440/4 | €2,924 | €5,660 | +€2,736 | +93.6% |
| Taxes, remuneration and social security | 45 | €8,735 | €11,201 | +€2,466 | +28.2% |
| Taxes | 450/3 | €8,735 | €11,201 | +€2,466 | +28.2% |
| Other amounts payable | 47/48 | €11,933 | €6,936 | -€4,996 | -41.9% |
| Accrued charges and deferred income | 492/3 | - | €589 | +€589 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,315 | €6,482 | +€3,166 | +95.5% |
| Other operating charges | 640/8 | €623 | €382 | -€241 | -38.7% |
| Gross operating margin | 9900 | €69,166 | €12,626 | -€56,540 | -81.7% |
| Operating profit (loss) | 9901 | €65,228 | €5,762 | -€59,466 | -91.2% |
| Financial income | 75/76B | €6 | €0 | -€6 | -92.7% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -92.7% |
| Financial charges | 65/66B | €879 | €1,579 | +€700 | +79.6% |
| Recurring financial charges | 65 | €879 | €1,579 | +€700 | +79.6% |
| Profit (loss) for the period before taxes | 9903 | €64,355 | €4,184 | -€60,171 | -93.5% |
| Income taxes | 67/77 | €19,117 | €3,677 | -€15,440 | -80.8% |
| Profit (loss) for the period | 9904 | €45,238 | €507 | -€44,731 | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,238 | €507 | -€44,731 | -98.9% |
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 19 October 2026 via checked.be.