This is because the brand is probably made for text, not a logo.
Your logo is 26px in height, so you have a remaining 24px of padding - 12px for each top and bottom (the navbar is 50px high).
.navbar-brand {
padding: 10px 15px;
}
10px turns out as a good top padding value as the logo text is then aligned with the menu items. As long as top+bottom padding are below 24px, you can safely ignore the bottom padding, otherwise do e.g.
.navbar-brand {
padding: 20px 15px 4px 15px; /* last left padding value _can_ be left away */
}