Ets ROBERT - BRAIVE: 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.
Ets ROBERT - BRAIVE
Largest movements
- Receivables after one year +€153,000
new in 2025: €153,000
- Receivables within one year -€71,308
down €71,308 (-36.0%), from €198,344 to €127,035
of which Trade receivables: -€40,890
- Cash -€60,851
down €60,851 (-16.0%), from €379,780 to €318,929
mainly Contributions, distributions and other (-€168,102) and Receivables after one year (-€153,000)
- Deferred charges and accrued income +€35,725
up €35,725 (+66.9%), from €53,428 to €89,153
- Other debts +€155,932
up €155,932 (+1148.7%), from €13,575 to €169,507
- Reserves -€101,087
down €101,087 (-27.0%), from €374,726 to €273,640
of which Distributable reserves: -€101,087
- Gross operating margin -€61,663
down €61,663 (-37.9%), from €162,892 to €101,230
- Taxes -€19,691
down €19,691 (-42.1%), from €46,806 to €27,115
- Depreciation -€3,203
down €3,203 (-26.6%), from €12,028 to €8,824
- Financial income +€2,813
up €2,813 (+100.5%), from €2,799 to €5,612
- Other operating charges -€1,670
down €1,670 (-49.5%), from €3,375 to €1,704
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 | €672,907 | €725,499 | +€52,592 | +7.8% |
| Fixed assets | 21/28 | €18,096 | €12,333 | -€5,764 | -31.8% |
| Intangible fixed assets | 21 | €2,478 | €1,770 | -€708 | -28.6% |
| Tangible fixed assets | 22/27 | €15,618 | €10,563 | -€5,056 | -32.4% |
| Plant, machinery and equipment | 23 | €10,368 | €10,563 | +€194 | +1.9% |
| Furniture and vehicles | 24 | €5,250 | - | -€5,250 | |
| Current assets | 29/58 | €654,810 | €713,166 | +€58,356 | +8.9% |
| Amounts receivable after more than one year | 29 | - | €153,000 | +€153,000 | |
| Other amounts receivable | 291 | - | €153,000 | +€153,000 | |
| Stocks and contracts in progress | 3 | €23,258 | €25,049 | +€1,791 | +7.7% |
| Stocks | 30/36 | €23,258 | €25,049 | +€1,791 | +7.7% |
| Amounts receivable within one year | 40/41 | €198,344 | €127,035 | -€71,308 | -36.0% |
| Trade receivables | 40 | €144,074 | €103,184 | -€40,890 | -28.4% |
| Other amounts receivable | 41 | €54,270 | €23,852 | -€30,418 | -56.1% |
| Cash at bank and in hand | 54/58 | €379,780 | €318,929 | -€60,851 | -16.0% |
| Deferred charges and accrued income | 490/1 | €53,428 | €89,153 | +€35,725 | +66.9% |
| Total equity and liabilities | 10/49 | €672,907 | €725,499 | +€52,592 | +7.8% |
| Equity | 10/15 | €622,611 | €521,524 | -€101,087 | -16.2% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €374,726 | €273,640 | -€101,087 | -27.0% |
| Non-distributable reserves | 130/1 | €4,338 | €4,338 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,338 | €4,338 | = | 0.0% |
| Distributable reserves | 133 | €370,388 | €269,302 | -€101,087 | -27.3% |
| Profit (loss) carried forward | 14 | €235,490 | €235,490 | = | 0.0% |
| Amounts payable | 17/49 | €50,295 | €203,974 | +€153,679 | +305.6% |
| Amounts payable within one year | 42/48 | €50,295 | €203,974 | +€153,679 | +305.6% |
| Trade debts | 44 | €10,542 | €9,058 | -€1,484 | -14.1% |
| Suppliers | 440/4 | €10,542 | €9,058 | -€1,484 | -14.1% |
| Taxes, remuneration and social security | 45 | €26,179 | €25,409 | -€769 | -2.9% |
| Taxes | 450/3 | €22,529 | €21,709 | -€819 | -3.6% |
| Remuneration and social security | 454/9 | €3,650 | €3,700 | +€50 | +1.4% |
| Other amounts payable | 47/48 | €13,575 | €169,507 | +€155,932 | +1148.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,028 | €8,824 | -€3,203 | -26.6% |
| Other operating charges | 640/8 | €3,375 | €1,704 | -€1,670 | -49.5% |
| Gross operating margin | 9900 | €162,892 | €101,230 | -€61,663 | -37.9% |
| Operating profit (loss) | 9901 | €147,490 | €90,701 | -€56,789 | -38.5% |
| Financial income | 75/76B | €2,799 | €5,612 | +€2,813 | +100.5% |
| Recurring financial income | 75 | €2,799 | €5,612 | +€2,813 | +100.5% |
| Financial charges | 65/66B | €2,154 | €2,183 | +€29 | +1.3% |
| Recurring financial charges | 65 | €2,154 | €2,183 | +€29 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €148,135 | €94,130 | -€54,005 | -36.5% |
| Income taxes | 67/77 | €46,806 | €27,115 | -€19,691 | -42.1% |
| Profit (loss) for the period | 9904 | €101,329 | €67,015 | -€34,314 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €101,329 | €67,015 | -€34,314 | -33.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.