BRIGER
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 16-04-2026 PDF all 32 filings
Every figure per financial year
The operating result for 2025 is 4% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €32,086 | €26,718 | €21,318 | €15,718 | €10,218 |
| Mortgages, amount registered | €130,677 | €130,677 | €130,677 | €130,677 | €130,677 |
| Carrying value of the mortgaged assets | €82,639 | €79,255 | €75,871 | €72,487 | €69,104 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,799 | €3,799 | €3,384 | €3,384 | €3,384 | €3,384 | €3,384 | €3,384 | = |
| Other operating charges640/8 | - | - | - | €2,429 | €2,639 | €2,723 | €2,834 | €2,923 | ▲ 3.2% |
| Gross operating margin9900 | €9,034 | €10,964 | €10,421 | €10,383 | €10,297 | €8,647 | €10,128 | €10,079 | ▼ 0.5% |
| Operating profit (loss)9901 | €3,062 | €4,948 | €4,628 | €4,570 | €4,274 | €2,540 | €3,911 | €3,772 | ▼ 3.6% |
| Financial charges65/66B | - | - | - | €2,527 | €1,664 | €1,632 | €1,432 | €1,532 | ▲ 7.0% |
| Recurring financial charges65 | €3,175 | €2,176 | €2,088 | €2,527 | €1,664 | €1,632 | €1,432 | €1,532 | ▲ 7.0% |
| Profit (loss) for the period before taxes9903 | -€113 | €2,772 | €2,540 | €2,043 | €2,609 | €908 | €2,479 | €2,240 | ▼ 9.7% |
| Profit (loss) for the period9904 | -€113 | €2,772 | €2,540 | €2,043 | €2,609 | €908 | €2,479 | €2,240 | ▼ 9.7% |
| Profit (loss) for the period to be appropriated9905 | -€113 | €2,772 | €2,540 | €2,043 | €2,609 | €908 | €2,479 | €2,240 | ▼ 9.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €95,243 | €93,602 | €90,456 | €87,824 | €85,065 | €79,593 | €76,472 | €69,104 | ▼ 9.6% |
| Fixed assets21/28 | €93,205 | €89,406 | €86,022 | €82,639 | €79,255 | €75,871 | €72,487 | €69,104 | ▼ 4.7% |
| Tangible fixed assets22/27 | €93,205 | €89,406 | €86,022 | €82,639 | €79,255 | €75,871 | €72,487 | €69,104 | ▼ 4.7% |
| Land and buildings22 | - | - | - | €82,639 | €79,255 | €75,871 | €72,487 | €69,104 | ▼ 4.7% |
| Current assets29/58 | €2,039 | €4,195 | €4,433 | €5,185 | €5,810 | €3,722 | €3,984 | - | - |
| Amounts receivable within one year40/41 | - | - | - | €5,185 | €4,830 | €3,722 | €3,984 | - | - |
| Other amounts receivable41 | - | - | - | €5,185 | €4,830 | €3,722 | €3,984 | - | - |
| Cash at bank and in hand54/58 | €2,039 | €4,195 | €4,433 | - | - | - | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €980 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €95,243 | €93,602 | €90,456 | €87,824 | €85,065 | €79,593 | €76,472 | €69,104 | ▼ 9.6% |
| Equity10/15 | -€172,166 | -€169,394 | -€166,854 | -€164,811 | -€162,201 | -€161,294 | -€158,815 | -€156,575 | ▲ 1.4% |
| Contributions10/11 | €6,197 | €6,197 | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Profit (loss) carried forward14 | -€178,363 | -€175,591 | -€173,051 | -€171,008 | -€168,398 | -€167,491 | -€165,012 | -€162,772 | ▲ 1.4% |
| Amounts payable17/49 | €267,409 | €262,995 | €257,309 | €252,634 | €247,266 | €240,886 | €235,286 | €225,679 | ▼ 4.1% |
| Amounts payable after more than one year17 | €225,857 | €219,757 | €214,557 | €209,257 | €203,789 | €198,289 | €192,689 | €181,989 | ▼ 5.6% |
| Financial debts170/4 | - | - | - | €26,786 | €21,318 | €15,818 | €10,218 | €4,518 | ▼ 55.8% |
| Other amounts payable178/9 | - | - | - | €182,471 | €182,471 | €182,471 | €182,471 | €177,471 | ▼ 2.7% |
| Amounts payable within one year42/48 | €41,553 | €42,653 | €42,753 | €43,377 | €43,477 | €42,597 | €42,597 | €43,690 | ▲ 2.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €5,300 | €5,400 | €5,500 | €5,500 | €5,700 | ▲ 3.6% |
| Other amounts payable47/48 | - | - | - | €38,077 | €38,077 | €37,097 | €37,097 | €37,990 | ▲ 2.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€113 | €2,772 | €2,540 | €2,043 | €2,609 | €908 | €2,479 | €2,240 | ▼ 9.7% |
| + Depreciation and write-downs630 | €3,799 | €3,799 | €3,384 | €3,384 | €3,384 | €3,384 | €3,384 | €3,384 | = |
| Operating cash flow (approximation) | €3,686 | €6,571 | €5,924 | €5,427 | €5,993 | €4,291 | €5,863 | €5,623 | ▼ 4.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €2,157 | €238 | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,449 companies had the same profile as BRIGER has now. Two years later, 92.3% were still going and 2.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BRIGER itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,449 companies, not a prediction for BRIGER. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 16-04-2026 | 2026-00080524 | |
| 31-12-2024 | full format | 09-05-2025 | 2025-00092477 | |
| 31-12-2023 | full format | 18-04-2024 | 2024-00064581 | |
| 31-12-2022 | full format | 26-04-2023 | 2023-00066134 | |
| 31-12-2021 | full format | 18-07-2022 | 2022-20193786 | |
| 31-12-2020 | full format | 14-06-2021 | 2021-19500461 | |
| 31-12-2019 | full format | 26-06-2020 | 2020-21100477 | |
| 31-12-2018 | full format | 28-05-2019 | 2019-14900122 | |
| 31-12-2017 | full format | 20-06-2018 | 2018-20700591 | |
| 31-12-2016 | full format | 30-06-2017 | 2017-25200579 |