BRAVO-TECH: 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-TECH
Largest movements
- Tangible fixed assets -€657,261
down €657,261 (-21.9%), from €3.0m to €2.3m
of which Leasing and similar rights: -€430,703
- Receivables within one year -€220,576
down €220,576 (-19.7%), from €1.1m to €899,484
of which Trade receivables: -€321,173
- Cash -€88,441
down €88,441 (-96.4%), from €91,708 to €3,267
mainly Debts after one year (-€550,602) and Short-term financial debts (-€161,047)
- Debts after one year -€550,602
down €550,602 (-23.9%), from €2.3m to €1.8m
- Short-term financial debts -€161,047
down €161,047 (-100.0%), from €161,051 to €4
- Trade debts -€96,891
down €96,891 (-33.7%), from €287,087 to €190,197
- Tax, wage and social debts -€67,194
down €67,194 (-63.4%), from €106,059 to €38,865
of which Remuneration and social security: -€38,881
- Current portion of long-term debt -€58,207
down €58,207 (-9.7%), from €601,679 to €543,472
- Gross operating margin -€785,895
down €785,895 (-45.7%), from €1.7m to €933,667
- Staff costs -€435,271
down €435,271 (-96.9%), from €449,254 to €13,983
- Taxes -€50,913
down €50,913 (-84.0%), from €60,600 to €9,687
- Depreciation +€19,553
up €19,553 (+2.7%), from €731,202 to €750,755
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 | €4,316,627 | €3,354,548 | -€962,079 | -22.3% |
| Fixed assets | 21/28 | €3,091,886 | €2,422,083 | -€669,803 | -21.7% |
| Intangible fixed assets | 21 | €81,478 | €68,936 | -€12,542 | -15.4% |
| Tangible fixed assets | 22/27 | €3,007,258 | €2,349,997 | -€657,261 | -21.9% |
| Land and buildings | 22 | €665,673 | €619,106 | -€46,566 | -7.0% |
| Plant, machinery and equipment | 23 | €363,142 | €200,020 | -€163,122 | -44.9% |
| Furniture and vehicles | 24 | €62,864 | €45,995 | -€16,869 | -26.8% |
| Leasing and similar rights | 25 | €1,915,579 | €1,484,876 | -€430,703 | -22.5% |
| Financial fixed assets | 28 | €3,150 | €3,150 | = | 0.0% |
| Current assets | 29/58 | €1,224,741 | €932,465 | -€292,276 | -23.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,120,059 | €899,484 | -€220,576 | -19.7% |
| Trade receivables | 40 | €687,931 | €366,758 | -€321,173 | -46.7% |
| Other amounts receivable | 41 | €432,128 | €532,726 | +€100,598 | +23.3% |
| Cash at bank and in hand | 54/58 | €91,708 | €3,267 | -€88,441 | -96.4% |
| Deferred charges and accrued income | 490/1 | €12,973 | €29,714 | +€16,740 | +129.0% |
| Total equity and liabilities | 10/49 | €4,316,627 | €3,354,548 | -€962,079 | -22.3% |
| Equity | 10/15 | €733,284 | €756,587 | +€23,303 | +3.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €708,284 | €731,587 | +€23,303 | +3.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €708,284 | €731,587 | +€23,303 | +3.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,583,343 | €2,597,962 | -€985,382 | -27.5% |
| Amounts payable after more than one year | 17 | €2,306,642 | €1,756,040 | -€550,602 | -23.9% |
| Financial debts | 170/4 | €2,306,642 | €1,756,040 | -€550,602 | -23.9% |
| Amounts payable within one year | 42/48 | €1,262,383 | €823,304 | -€439,079 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €601,679 | €543,472 | -€58,207 | -9.7% |
| Financial debts | 43 | €161,051 | €4 | -€161,047 | -100.0% |
| Credit institutions | 430/8 | €161,051 | €4 | -€161,047 | -100.0% |
| Trade debts | 44 | €287,087 | €190,197 | -€96,891 | -33.7% |
| Suppliers | 440/4 | €287,087 | €190,197 | -€96,891 | -33.7% |
| Taxes, remuneration and social security | 45 | €106,059 | €38,865 | -€67,194 | -63.4% |
| Taxes | 450/3 | €67,178 | €38,865 | -€28,313 | -42.1% |
| Remuneration and social security | 454/9 | €38,881 | €0 | -€38,881 | -100.0% |
| Other amounts payable | 47/48 | €106,508 | €50,767 | -€55,741 | -52.3% |
| Accrued charges and deferred income | 492/3 | €14,318 | €18,617 | +€4,299 | +30.0% |
| Non-recurring operating income | 76A | €4,460 | €4,500 | +€40 | +0.9% |
| Remuneration, social security and pensions | 62 | €449,254 | €13,983 | -€435,271 | -96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €731,202 | €750,755 | +€19,553 | +2.7% |
| Other operating charges | 640/8 | €9,271 | €9,179 | -€92 | -1.0% |
| Gross operating margin | 9900 | €1,719,562 | €933,667 | -€785,895 | -45.7% |
| Operating profit (loss) | 9901 | €529,835 | €159,750 | -€370,085 | -69.8% |
| Financial income | 75/76B | €475 | €26 | -€449 | -94.6% |
| Recurring financial income | 75 | €475 | €26 | -€449 | -94.6% |
| Financial charges | 65/66B | €127,924 | €126,786 | -€1,138 | -0.9% |
| Recurring financial charges | 65 | €127,924 | €126,786 | -€1,138 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €402,385 | €32,989 | -€369,396 | -91.8% |
| Income taxes | 67/77 | €60,600 | €9,687 | -€50,913 | -84.0% |
| Profit (loss) for the period | 9904 | €341,785 | €23,303 | -€318,483 | -93.2% |
| Profit (loss) for the period to be appropriated | 9905 | €341,785 | €23,303 | -€318,483 | -93.2% |
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 12 October 2026 via checked.be.