BRAVX: 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.
BRAVX
Largest movements
- Cash +€409,911
up €409,911 (+375.6%), from €109,144 to €519,055
mainly Accrued charges and deferred income (+€668,286) and Trade debts (+€232,807)
- Deferred charges and accrued income +€381,781
up €381,781 (+180.4%), from €211,635 to €593,416
- Receivables within one year +€91,719
up €91,719 (+11.2%), from €819,424 to €911,144
of which Trade receivables: +€67,565
- Tangible fixed assets -€39,707
down €39,707 (-18.0%), from €220,720 to €181,013
of which Other tangible fixed assets: -€23,648
- Accrued charges and deferred income +€668,286
up €668,286 (+289.4%), from €230,896 to €899,182
- Trade debts +€232,807
up €232,807 (+76.9%), from €302,925 to €535,733
- Current portion of long-term debt -€75,699
down €75,699 (-69.6%), from €108,816 to €33,116
- Reserves -€50,000
down €50,000 (-10.0%), from €498,355 to €448,355
- Tax, wage and social debts +€48,602
up €48,602 (+20.2%), from €240,252 to €288,855
of which Taxes: +€33,356
- Gross operating margin -€66,164
down €66,164 (-2.8%), from €2.3m to €2.3m
- Staff costs +€32,297
up €32,297 (+1.5%), from €2.1m to €2.2m
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 | €1,400,127 | €2,224,045 | +€823,917 | +58.8% |
| Fixed assets | 21/28 | €259,924 | €200,430 | -€59,494 | -22.9% |
| Intangible fixed assets | 21 | €39,204 | €19,417 | -€19,787 | -50.5% |
| Tangible fixed assets | 22/27 | €220,720 | €181,013 | -€39,707 | -18.0% |
| Furniture and vehicles | 24 | €50,603 | €34,544 | -€16,058 | -31.7% |
| Other tangible fixed assets | 26 | €170,117 | €146,469 | -€23,648 | -13.9% |
| Current assets | 29/58 | €1,140,203 | €2,023,615 | +€883,412 | +77.5% |
| Amounts receivable within one year | 40/41 | €819,424 | €911,144 | +€91,719 | +11.2% |
| Trade receivables | 40 | €816,442 | €884,006 | +€67,565 | +8.3% |
| Other amounts receivable | 41 | €2,983 | €27,137 | +€24,155 | +809.8% |
| Cash at bank and in hand | 54/58 | €109,144 | €519,055 | +€409,911 | +375.6% |
| Deferred charges and accrued income | 490/1 | €211,635 | €593,416 | +€381,781 | +180.4% |
| Total equity and liabilities | 10/49 | €1,400,127 | €2,224,045 | +€823,917 | +58.8% |
| Equity | 10/15 | €517,238 | €467,159 | -€50,080 | -9.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €498,355 | €448,355 | -€50,000 | -10.0% |
| Distributable reserves | 133 | €498,355 | €448,355 | -€50,000 | -10.0% |
| Profit (loss) carried forward | 14 | €333 | €254 | -€80 | -23.9% |
| Amounts payable | 17/49 | €882,889 | €1,756,886 | +€873,997 | +99.0% |
| Amounts payable within one year | 42/48 | €651,993 | €857,704 | +€205,711 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €108,816 | €33,116 | -€75,699 | -69.6% |
| Trade debts | 44 | €302,925 | €535,733 | +€232,807 | +76.9% |
| Suppliers | 440/4 | €302,925 | €535,733 | +€232,807 | +76.9% |
| Taxes, remuneration and social security | 45 | €240,252 | €288,855 | +€48,602 | +20.2% |
| Taxes | 450/3 | €78,852 | €112,209 | +€33,356 | +42.3% |
| Remuneration and social security | 454/9 | €161,400 | €176,646 | +€15,246 | +9.4% |
| Accrued charges and deferred income | 492/3 | €230,896 | €899,182 | +€668,286 | +289.4% |
| Remuneration, social security and pensions | 62 | €2,141,235 | €2,173,532 | +€32,297 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,401 | €65,983 | -€1,418 | -2.1% |
| Other operating charges | 640/8 | €36,047 | €29,120 | -€6,927 | -19.2% |
| Gross operating margin | 9900 | €2,324,338 | €2,258,174 | -€66,164 | -2.8% |
| Operating profit (loss) | 9901 | €79,656 | -€10,460 | -€90,116 | |
| Financial income | 75/76B | €986 | €673 | -€313 | -31.7% |
| Recurring financial income | 75 | €986 | €673 | -€313 | -31.7% |
| Financial charges | 65/66B | €37,882 | €37,228 | -€654 | -1.7% |
| Recurring financial charges | 65 | €37,882 | €37,228 | -€654 | -1.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €42,760 | -€47,015 | -€89,775 | |
| Income taxes | 67/77 | €13,759 | €3,065 | -€10,695 | -77.7% |
| Profit (loss) for the period | 9904 | €29,001 | -€50,080 | -€79,080 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,001 | -€50,080 | -€79,080 |
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.