BRAMATIC: 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.
BRAMATIC
Largest movements
- Receivables within one year +€178,332
up €178,332 (+1,053%), from €16,940 to €195,272
- Tangible fixed assets +€163,949
up €163,949 (+48.1%), from €340,499 to €504,448
of which Assets under construction and advance payments: +€133,382
- Cash -€46,538
down €46,538 (-44.7%), from €104,011 to €57,473
mainly Investment in fixed assets (net) (-€208,014) and Receivables within one year (-€178,332)
- Trade debts +€167,100
up €167,100 (+3,742%), from €4,466 to €171,566
- Debts after one year +€86,296
up €86,296 (+126%), from €68,235 to €154,531
- Reserves +€35,110
up €35,110 (+17.7%), from €198,708 to €233,818
- Other operating charges +€9,202
up €9,202 (+347%), from €2,649 to €11,851
- Depreciation +€8,184
up €8,184 (+22.8%), from €35,881 to €44,065
- Taxes -€8,175
down €8,175 (-31.2%), from €26,219 to €18,045
- Gross operating margin -€6,863
down €6,863 (-5.5%), from €124,955 to €118,091
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 | €462,663 | €759,496 | +€296,833 | +64.2% |
| Fixed assets | 21/28 | €340,499 | €504,448 | +€163,949 | +48.1% |
| Tangible fixed assets | 22/27 | €340,499 | €504,448 | +€163,949 | +48.1% |
| Land and buildings | 22 | €330,725 | €364,723 | +€33,998 | +10.3% |
| Plant, machinery and equipment | 23 | €9,267 | €6,343 | -€2,924 | -31.5% |
| Furniture and vehicles | 24 | €507 | €0 | -€507 | -100% |
| Assets under construction and advance payments | 27 | - | €133,382 | +€133,382 | |
| Current assets | 29/58 | €122,164 | €255,048 | +€132,884 | +109% |
| Amounts receivable within one year | 40/41 | €16,940 | €195,272 | +€178,332 | +1,053% |
| Trade receivables | 40 | €16,940 | €195,272 | +€178,332 | +1,053% |
| Cash at bank and in hand | 54/58 | €104,011 | €57,473 | -€46,538 | -44.7% |
| Deferred charges and accrued income | 490/1 | €1,214 | €2,303 | +€1,089 | +89.8% |
| Total equity and liabilities | 10/49 | €462,663 | €759,496 | +€296,833 | +64.2% |
| Equity | 10/15 | €308,870 | €343,989 | +€35,119 | +11.4% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €198,708 | €233,818 | +€35,110 | +17.7% |
| Distributable reserves | 133 | €198,708 | €233,818 | +€35,110 | +17.7% |
| Profit (loss) carried forward | 14 | €162 | €171 | +€9 | +5.9% |
| Amounts payable | 17/49 | €153,793 | €415,507 | +€261,714 | +170% |
| Amounts payable after more than one year | 17 | €68,235 | €154,531 | +€86,296 | +126% |
| Financial debts | 170/4 | €68,235 | €154,531 | +€86,296 | +126% |
| Amounts payable within one year | 42/48 | €82,678 | €258,395 | +€175,717 | +213% |
| Current portion of amounts payable after more than one year | 42 | €26,925 | €27,707 | +€783 | +2.9% |
| Financial debts | 43 | - | €5,048 | +€5,048 | |
| Credit institutions | 430/8 | - | €5,048 | +€5,048 | |
| Trade debts | 44 | €4,466 | €171,566 | +€167,100 | +3,742% |
| Suppliers | 440/4 | €4,466 | €171,566 | +€167,100 | +3,742% |
| Taxes, remuneration and social security | 45 | €17,624 | €14,826 | -€2,798 | -15.9% |
| Taxes | 450/3 | €17,624 | €14,826 | -€2,798 | -15.9% |
| Other amounts payable | 47/48 | €33,664 | €39,248 | +€5,584 | +16.6% |
| Accrued charges and deferred income | 492/3 | €2,880 | €2,581 | -€299 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,881 | €44,065 | +€8,184 | +22.8% |
| Other operating charges | 640/8 | €2,649 | €11,851 | +€9,202 | +347% |
| Gross operating margin | 9900 | €124,955 | €118,091 | -€6,863 | -5.5% |
| Operating profit (loss) | 9901 | €86,425 | €62,175 | -€24,249 | -28.1% |
| Financial income | 75/76B | €0 | €1 | +€1 | +700% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +700% |
| Financial charges | 65/66B | €7,923 | €9,012 | +€1,089 | +13.7% |
| Recurring financial charges | 65 | €7,923 | €9,012 | +€1,089 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €78,501 | €53,164 | -€25,337 | -32.3% |
| Income taxes | 67/77 | €26,219 | €18,045 | -€8,175 | -31.2% |
| Profit (loss) for the period | 9904 | €52,282 | €35,119 | -€17,163 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,282 | €35,119 | -€17,163 | -32.8% |
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 1 November 2026 via checked.be.