BRAVOS: what changed
Two fiscal 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.
What changed
BRAVOS
NACE 47.551, Retail sale of household furniture
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€131,492
2024 · €118,561+€12,931
Equity
€389,308
2024 · €257,817+€131,492
Cash
€432,967
2024 · €430,045+€2,922
Balance sheet total
€1.0m
2024 · €1.1m-€60,652
Largest movements
Assets
- Tangible fixed assets -€56,042
down €56,042 (-47.0%), from €119,247 to €63,204
of which Furniture and vehicles: -€45,579
Equity and liabilities
- Advances received -€210,966
down €210,966 (-46.2%), from €456,485 to €245,518
- Reserves +€131,492
up €131,492 (+55.0%), from €239,217 to €370,708
of which Distributable reserves: +€131,492
- Trade debts +€45,222
up €45,222 (+24.8%), from €182,106 to €227,328
- Debts after one year -€29,788
down €29,788 (-39.6%), from €75,267 to €45,479
Income statement
- Staff costs -€59,496
down €59,496 (-23.0%), from €258,891 to €199,395
- Gross operating margin -€34,978
down €34,978 (-8.1%), from €432,946 to €397,968
- Other operating charges +€8,738
up €8,738 (+62.6%), from €13,968 to €22,705
- Taxes +€5,584
up €5,584 (+12.3%), from €45,461 to €51,045
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.
Result 2024
€118,561
Gross operating margin
-€34,978
Staff costs
+€59,496
Depreciation
+€58
Other operating charges
-€8,738
Other operating items
+€1,910
Financial income
-€1,073
Financial charges
+€1,840
Taxes
-€5,584
Result 2025
€131,492
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.
From operations
-€5,301
Investment
+€29,245
Financing
-€21,022
Cash 2024
€430,045
From operations (derived)
-€5,301
Net result for the year
+€131,492
Depreciation
+€26,797
Receivables after one year
+€8,889
Stocks and contracts
-€4,040
Receivables within one year
+€2,219
Deferred charges and accrued income
+€464
Trade debts
+€45,222
Tax, wage and social debts
-€6,087
Advances received
-€210,966
Accrued charges and deferred income
+€710
Investment (derived)
+€29,245
Investment in fixed assets (net)
+€29,245
Financing
-€21,022
Debts after one year
-€29,788
Current portion of long-term debt
+€8,766
Cash 2025
€432,967
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,091,681 | €1,031,029 | -€60,652 | -5.6% |
| Fixed assets | 21/28 | €119,247 | €63,204 | -€56,042 | -47.0% |
| Tangible fixed assets | 22/27 | €119,247 | €63,204 | -€56,042 | -47.0% |
| Plant, machinery and equipment | 23 | €21,015 | €13,397 | -€7,618 | -36.3% |
| Furniture and vehicles | 24 | €94,833 | €49,254 | -€45,579 | -48.1% |
| Leasing and similar rights | 25 | €3,398 | €553 | -€2,845 | -83.7% |
| Current assets | 29/58 | €972,435 | €967,825 | -€4,610 | -0.5% |
| Amounts receivable after more than one year | 29 | €74,177 | €65,288 | -€8,889 | -12.0% |
| Other amounts receivable | 291 | €74,177 | €65,288 | -€8,889 | -12.0% |
| Stocks and contracts in progress | 3 | €214,786 | €218,826 | +€4,040 | +1.9% |
| Stocks | 30/36 | €214,786 | €218,826 | +€4,040 | +1.9% |
| Amounts receivable within one year | 40/41 | €252,962 | €250,743 | -€2,219 | -0.9% |
| Trade receivables | 40 | €80,575 | €94,749 | +€14,174 | +17.6% |
| Other amounts receivable | 41 | €172,387 | €155,994 | -€16,393 | -9.5% |
| Cash at bank and in hand | 54/58 | €430,045 | €432,967 | +€2,922 | +0.7% |
| Deferred charges and accrued income | 490/1 | €464 | €0 | -€464 | -100.0% |
| Total equity and liabilities | 10/49 | €1,091,681 | €1,031,029 | -€60,652 | -5.6% |
| Equity | 10/15 | €257,817 | €389,308 | +€131,492 | +51.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €239,217 | €370,708 | +€131,492 | +55.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €239,217 | €370,708 | +€131,492 | +55.0% |
| Amounts payable | 17/49 | €833,864 | €641,721 | -€192,144 | -23.0% |
| Amounts payable after more than one year | 17 | €75,267 | €45,479 | -€29,788 | -39.6% |
| Financial debts | 170/4 | €75,267 | €45,479 | -€29,788 | -39.6% |
| Amounts payable within one year | 42/48 | €758,597 | €595,532 | -€163,065 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €67,341 | €76,107 | +€8,766 | +13.0% |
| Trade debts | 44 | €182,106 | €227,328 | +€45,222 | +24.8% |
| Suppliers | 440/4 | €182,106 | €227,328 | +€45,222 | +24.8% |
| Advances received on contracts in progress | 46 | €456,485 | €245,518 | -€210,966 | -46.2% |
| Taxes, remuneration and social security | 45 | €52,665 | €46,578 | -€6,087 | -11.6% |
| Taxes | 450/3 | €20,862 | €32,120 | +€11,259 | +54.0% |
| Remuneration and social security | 454/9 | €31,803 | €14,457 | -€17,346 | -54.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €710 | +€710 | |
| Non-recurring operating income | 76A | €0 | €1,589 | +€1,589 | |
| Remuneration, social security and pensions | 62 | €258,891 | €199,395 | -€59,496 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,855 | €26,797 | -€58 | -0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €13,968 | €22,705 | +€8,738 | +62.6% |
| Non-recurring operating charges | 66A | €1,910 | €0 | -€1,910 | -100.0% |
| Gross operating margin | 9900 | €432,946 | €397,968 | -€34,978 | -8.1% |
| Operating profit (loss) | 9901 | €131,322 | €149,071 | +€17,748 | +13.5% |
| Financial income | 75/76B | €45,267 | €44,195 | -€1,073 | -2.4% |
| Recurring financial income | 75 | €45,267 | €44,195 | -€1,073 | -2.4% |
| Financial charges | 65/66B | €12,568 | €10,728 | -€1,840 | -14.6% |
| Recurring financial charges | 65 | €12,568 | €10,728 | -€1,840 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €164,021 | €182,537 | +€18,516 | +11.3% |
| Income taxes | 67/77 | €45,461 | €51,045 | +€5,584 | +12.3% |
| Profit (loss) for the period | 9904 | €118,561 | €131,492 | +€12,931 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €118,561 | €131,492 | +€12,931 | +10.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.