B & R: 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.
B & R
Largest movements
- Stocks and contracts -€42,049
down €42,049 (-22.6%), from €186,269 to €144,221
- Receivables within one year -€17,396
down €17,396 (-3.8%), from €462,590 to €445,194
of which Other amounts receivable: -€17,822
- Reserves -€496,818
down €496,818 (-99.8%), from €497,956 to €1,138
of which Tax-exempt reserves: -€497,956
- Profit (loss) carried forward +€418,322
up €418,322, from -€396,695 to €21,627
- Tax, wage and social debts +€251,194
up €251,194 (+2363.7%), from €10,627 to €261,821
of which Taxes: +€256,994
- Provisions -€165,985
down €165,985 (-100.0%), from €165,985 to €0
- Debts after one year -€50,555
down €50,555 (-27.5%), from €183,779 to €133,224
- Taxes +€226,065
up €226,065 (+36412.3%), from €621 to €226,686
- Gross operating margin -€79,449
down €79,449 (-44.5%), from €178,661 to €99,212
- Staff costs -€33,205
down €33,205 (-69.2%), from €47,986 to €14,781
- Financial charges +€19,679
up €19,679 (+85.3%), from €23,068 to €42,747
- Depreciation -€2,542
down €2,542 (-4.9%), from €51,944 to €49,402
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 | €1,719,432 | €1,668,786 | -€50,646 | -2.9% |
| Fixed assets | 21/28 | €1,059,312 | €1,064,027 | +€4,714 | +0.4% |
| Tangible fixed assets | 22/27 | €1,056,714 | €1,061,429 | +€4,714 | +0.4% |
| Land and buildings | 22 | €998,954 | €1,014,176 | +€15,222 | +1.5% |
| Plant, machinery and equipment | 23 | €34,190 | €30,282 | -€3,908 | -11.4% |
| Furniture and vehicles | 24 | €23,571 | €16,971 | -€6,600 | -28.0% |
| Financial fixed assets | 28 | €2,598 | €2,598 | = | 0.0% |
| Current assets | 29/58 | €660,119 | €604,760 | -€55,360 | -8.4% |
| Stocks and contracts in progress | 3 | €186,269 | €144,221 | -€42,049 | -22.6% |
| Stocks | 30/36 | €186,269 | €144,221 | -€42,049 | -22.6% |
| Amounts receivable within one year | 40/41 | €462,590 | €445,194 | -€17,396 | -3.8% |
| Trade receivables | 40 | €123 | €549 | +€426 | +345.5% |
| Other amounts receivable | 41 | €462,466 | €444,644 | -€17,822 | -3.9% |
| Cash at bank and in hand | 54/58 | €11,260 | €15,345 | +€4,085 | +36.3% |
| Total equity and liabilities | 10/49 | €1,719,432 | €1,668,786 | -€50,646 | -2.9% |
| Equity | 10/15 | €1,194,016 | €1,115,520 | -€78,495 | -6.6% |
| Contributions | 10/11 | €1,092,755 | €1,092,755 | = | 0.0% |
| Capital | 10 | €1,092,755 | €1,092,755 | = | 0.0% |
| Issued capital | 100 | €1,092,755 | €1,092,755 | = | 0.0% |
| Reserves | 13 | €497,956 | €1,138 | -€496,818 | -99.8% |
| Non-distributable reserves | 130/1 | - | €1,138 | +€1,138 | |
| Legal reserve | 130 | - | €1,138 | +€1,138 | |
| Tax-exempt reserves | 132 | €497,956 | €0 | -€497,956 | -100.0% |
| Profit (loss) carried forward | 14 | -€396,695 | €21,627 | +€418,322 | |
| Provisions and deferred taxes | 16 | €165,985 | €0 | -€165,985 | -100.0% |
| Deferred taxes | 168 | €165,985 | €0 | -€165,985 | -100.0% |
| Amounts payable | 17/49 | €359,431 | €553,266 | +€193,835 | +53.9% |
| Amounts payable after more than one year | 17 | €183,779 | €133,224 | -€50,555 | -27.5% |
| Financial debts | 170/4 | €183,779 | €133,224 | -€50,555 | -27.5% |
| Amounts payable within one year | 42/48 | €175,652 | €420,042 | +€244,390 | +139.1% |
| Current portion of amounts payable after more than one year | 42 | €67,798 | €60,366 | -€7,432 | -11.0% |
| Trade debts | 44 | €53,226 | €52,149 | -€1,077 | -2.0% |
| Suppliers | 440/4 | €53,226 | €52,149 | -€1,077 | -2.0% |
| Taxes, remuneration and social security | 45 | €10,627 | €261,821 | +€251,194 | +2363.7% |
| Taxes | 450/3 | €4,828 | €261,821 | +€256,994 | +5323.5% |
| Remuneration and social security | 454/9 | €5,800 | €0 | -€5,800 | -100.0% |
| Other amounts payable | 47/48 | €44,001 | €45,706 | +€1,705 | +3.9% |
| Non-recurring operating income | 76A | €28,675 | €0 | -€28,675 | -100.0% |
| Remuneration, social security and pensions | 62 | €47,986 | €14,781 | -€33,205 | -69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,944 | €49,402 | -€2,542 | -4.9% |
| Other operating charges | 640/8 | €29,883 | €28,624 | -€1,260 | -4.2% |
| Non-recurring operating charges | 66A | - | €2,104 | +€2,104 | |
| Gross operating margin | 9900 | €178,661 | €99,212 | -€79,449 | -44.5% |
| Operating profit (loss) | 9901 | €48,847 | €4,301 | -€44,546 | -91.2% |
| Financial income | 75/76B | €20,328 | €20,651 | +€323 | +1.6% |
| Recurring financial income | 75 | €20,328 | €20,651 | +€323 | +1.6% |
| Financial charges | 65/66B | €23,068 | €42,747 | +€19,679 | +85.3% |
| Recurring financial charges | 65 | €23,068 | €42,747 | +€19,679 | +85.3% |
| Profit (loss) for the period before taxes | 9903 | €46,107 | -€17,794 | -€63,901 | |
| Transfer from deferred taxes | 780 | €1,403 | €165,985 | +€164,583 | +11732.7% |
| Income taxes | 67/77 | €621 | €226,686 | +€226,065 | +36412.3% |
| Profit (loss) for the period | 9904 | €46,889 | -€78,495 | -€125,384 | |
| Transfer from tax-exempt reserves | 789 | €4,208 | €497,956 | +€493,748 | +11732.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,097 | €419,460 | +€368,363 | +720.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.