BRAVOSIX: 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.
BRAVOSIX
Largest movements
- Receivables within one year +€36,953
up €36,953 (+155%), from €23,869 to €60,822
of which Trade receivables: +€24,520
- Stocks and contracts -€35,000
down €35,000 (-100%), from €35,000 to €0
- Cash +€29,542
up €29,542 (+177%), from €16,735 to €46,277
mainly Net result for the year (+€35,546) and Stocks and contracts (+€35,000)
- Deferred charges and accrued income +€1,638
new in 2025: €1,638
- Tangible fixed assets +€1,304
up €1,304 (+9.8%), from €13,278 to €14,581
of which Furniture and vehicles: +€2,838
- Other debts +€28,985
new in 2025: €28,985
- Reserves +€6,561
up €6,561 (+10.1%), from €64,696 to €71,258
- Gross operating margin +€33,092
up €33,092 (+148%), from €22,399 to €55,491
- Taxes +€8,056
up €8,056 (+124%), from €6,497 to €14,552
- Other operating charges +€1,952
up €1,952 (+308%), from €633 to €2,586
- Depreciation +€1,744
up €1,744 (+93.8%), from €1,859 to €3,603
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 | €88,882 | €123,319 | +€34,437 | +38.7% |
| Fixed assets | 21/28 | €13,278 | €14,581 | +€1,304 | +9.8% |
| Tangible fixed assets | 22/27 | €13,278 | €14,581 | +€1,304 | +9.8% |
| Plant, machinery and equipment | 23 | €5,086 | €3,552 | -€1,534 | -30.2% |
| Furniture and vehicles | 24 | €8,192 | €11,029 | +€2,838 | +34.6% |
| Current assets | 29/58 | €75,604 | €108,737 | +€33,133 | +43.8% |
| Stocks and contracts in progress | 3 | €35,000 | €0 | -€35,000 | -100% |
| Stocks | 30/36 | €35,000 | €0 | -€35,000 | -100% |
| Amounts receivable within one year | 40/41 | €23,869 | €60,822 | +€36,953 | +155% |
| Trade receivables | 40 | €7,069 | €31,590 | +€24,520 | +347% |
| Other amounts receivable | 41 | €16,800 | €29,233 | +€12,433 | +74.0% |
| Cash at bank and in hand | 54/58 | €16,735 | €46,277 | +€29,542 | +177% |
| Deferred charges and accrued income | 490/1 | - | €1,638 | +€1,638 | |
| Total equity and liabilities | 10/49 | €88,882 | €123,319 | +€34,437 | +38.7% |
| Equity | 10/15 | €65,696 | €72,258 | +€6,561 | +10.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €64,696 | €71,258 | +€6,561 | +10.1% |
| Distributable reserves | 133 | €64,696 | €71,258 | +€6,561 | +10.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €23,186 | €51,061 | +€27,875 | +120% |
| Amounts payable within one year | 42/48 | €22,466 | €51,061 | +€28,595 | +127% |
| Trade debts | 44 | €10,352 | €10,412 | +€60 | +0.6% |
| Suppliers | 440/4 | €10,352 | €10,412 | +€60 | +0.6% |
| Taxes, remuneration and social security | 45 | €12,114 | €11,665 | -€449 | -3.7% |
| Taxes | 450/3 | €12,114 | €11,665 | -€449 | -3.7% |
| Other amounts payable | 47/48 | - | €28,985 | +€28,985 | |
| Accrued charges and deferred income | 492/3 | €720 | €0 | -€720 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,859 | €3,603 | +€1,744 | +93.8% |
| Other operating charges | 640/8 | €633 | €2,586 | +€1,952 | +308% |
| Gross operating margin | 9900 | €22,399 | €55,491 | +€33,092 | +148% |
| Operating profit (loss) | 9901 | €19,907 | €49,303 | +€29,396 | +148% |
| Financial income | 75/76B | €807 | €1,170 | +€363 | +44.9% |
| Recurring financial income | 75 | €807 | €1,170 | +€363 | +44.9% |
| Financial charges | 65/66B | €215 | €374 | +€160 | +74.4% |
| Recurring financial charges | 65 | €215 | €374 | +€160 | +74.4% |
| Profit (loss) for the period before taxes | 9903 | €20,499 | €50,098 | +€29,599 | +144% |
| Income taxes | 67/77 | €6,497 | €14,552 | +€8,056 | +124% |
| Profit (loss) for the period | 9904 | €14,003 | €35,546 | +€21,543 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €14,003 | €35,546 | +€21,543 | +154% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.