Someone else who actually owns a Bravo may be able to confirm this...
IHI turbo is a slightly bigger at a VL36 as opposed to the smaller VL38. The A500 has a VL37.
Gearbox is changed from a C510 to a M32. There's a higher torque rating on the M32. Fewer reported issues with the C510 gearbox and is nicer gearbox to use.
ECU map is different allowing for additional boost of around 1.1-1.2 bar as opposed to 0.8-0.9 bar.
A reputable tuning box on the 120bhp should release a few extra ponies and should be able to near enough match the 150bhp model.