BRAZO: 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.
BRAZO
Largest movements
- Current assets -€29,953
down €29,953 (-64.1%), from €46,750 to €16,797
of which Receivables within one year: -€28,272
- Tangible fixed assets -€6,064
down €6,064 (-50.6%), from €11,981 to €5,917
- Profit (loss) carried forward -€48,683
down €48,683, from €23,495 to -€25,188
- Debts within one year +€12,666
up €12,666 (+46.6%), from €27,176 to €39,842
- Gross operating margin -€45,918
down €45,918, from €5,722 to -€40,196
- Depreciation +€1,771
up €1,771 (+41.3%), from €4,293 to €6,064
- Taxes -€881
down €881 (-79.0%), from €1,115 to €234
From the 2018 result to the 2019 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2018 | 2019 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,731 | €22,714 | -€36,017 | -61.3% |
| Fixed assets | 21/28 | €11,981 | €5,917 | -€6,064 | -50.6% |
| Tangible fixed assets | 22/27 | €11,981 | €5,917 | -€6,064 | -50.6% |
| Current assets | 29/58 | €46,750 | €16,797 | -€29,953 | -64.1% |
| Amounts receivable within one year | 40/41 | €43,448 | €15,176 | -€28,272 | -65.1% |
| Cash at bank and in hand | 54/58 | €2,813 | €1,547 | -€1,266 | -45.0% |
| Total equity and liabilities | 10/49 | €58,731 | €22,714 | -€36,017 | -61.3% |
| Equity | 10/15 | €31,555 | -€17,128 | -€48,683 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,495 | -€25,188 | -€48,683 | |
| Amounts payable | 17/49 | €27,176 | €39,842 | +€12,666 | +46.6% |
| Amounts payable within one year | 42/48 | €27,176 | €39,842 | +€12,666 | +46.6% |
| Trade debts | 44 | €25,255 | €24,434 | -€821 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,293 | €6,064 | +€1,771 | +41.3% |
| Gross operating margin | 9900 | €5,722 | -€40,196 | -€45,918 | |
| Operating profit (loss) | 9901 | -€4,036 | -€47,907 | -€43,871 | -1087.0% |
| Recurring financial income | 75 | €3 | €384 | +€381 | +12700.0% |
| Recurring financial charges | 65 | €299 | €926 | +€627 | +209.7% |
| Profit (loss) for the period before taxes | 9903 | €1,892 | -€48,449 | -€50,341 | |
| Income taxes | 67/77 | €1,115 | €234 | -€881 | -79.0% |
| Profit (loss) for the period | 9904 | €777 | -€48,683 | -€49,460 | |
| Profit (loss) for the period to be appropriated | 9905 | €777 | -€48,683 | -€49,460 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2018 and 31 December 2019. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.