B&R: what changed
Two fiscal 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
- Receivables after one year -€73,412
down €73,412 (-100.0%), from €73,412 to €0
- Tangible fixed assets +€48,270
up €48,270 (+1057.2%), from €4,566 to €52,836
of which Furniture and vehicles: +€48,684
- Receivables within one year +€20,765
up €20,765 (+147.3%), from €14,096 to €34,861
of which Trade receivables: +€22,190
- Cash -€4,296
down €4,296 (-29.5%), from €14,572 to €10,276
mainly Investment in fixed assets (net) (-€52,331) and Debts after one year (-€41,329)
- Stocks and contracts +€3,311
up €3,311 (+37.4%), from €8,858 to €12,169
- Debts after one year -€41,329
down €41,329 (-20.8%), from €198,345 to €157,016
of which Other amounts payable: -€46,329
- Profit (loss) carried forward +€24,739
up €24,739 (+16.6%), from -€148,775 to -€124,036
- Trade debts +€8,804
up €8,804 (+97.1%), from €9,067 to €17,871
- Current portion of long-term debt +€3,000
up €3,000 (+25.0%), from €12,000 to €15,000
- Financial income +€185,389
up €185,389 (+3537957.8%), from €5 to €185,394
of which Non-recurring financial income: +€182,929
- Financial charges +€181,503
up €181,503 (+2254.6%), from €8,050 to €189,553
of which Non-recurring financial charges: +€182,928
- Gross operating margin +€18,039
up €18,039 (+88.5%), from €20,388 to €38,427
- Write-downs -€9,303
down €9,303 (-84.0%), from €11,080 to €1,777
- Depreciation +€906
up €906 (+28.7%), from €3,155 to €4,061
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 | €115,719 | €110,295 | -€5,424 | -4.7% |
| Fixed assets | 21/28 | €4,566 | €52,836 | +€48,270 | +1057.2% |
| Tangible fixed assets | 22/27 | €4,566 | €52,836 | +€48,270 | +1057.2% |
| Plant, machinery and equipment | 23 | €2,539 | €2,125 | -€414 | -16.3% |
| Furniture and vehicles | 24 | €2,027 | €50,711 | +€48,684 | +2402.1% |
| Current assets | 29/58 | €111,154 | €57,460 | -€53,694 | -48.3% |
| Amounts receivable after more than one year | 29 | €73,412 | €0 | -€73,412 | -100.0% |
| Other amounts receivable | 291 | €73,412 | €0 | -€73,412 | -100.0% |
| Stocks and contracts in progress | 3 | €8,858 | €12,169 | +€3,311 | +37.4% |
| Stocks | 30/36 | €8,858 | €12,169 | +€3,311 | +37.4% |
| Amounts receivable within one year | 40/41 | €14,096 | €34,861 | +€20,765 | +147.3% |
| Trade receivables | 40 | €11,715 | €33,905 | +€22,190 | +189.4% |
| Other amounts receivable | 41 | €2,381 | €956 | -€1,425 | -59.9% |
| Cash at bank and in hand | 54/58 | €14,572 | €10,276 | -€4,296 | -29.5% |
| Deferred charges and accrued income | 490/1 | €215 | €153 | -€62 | -28.8% |
| Total equity and liabilities | 10/49 | €115,719 | €110,295 | -€5,424 | -4.7% |
| Equity | 10/15 | -€105,775 | -€81,036 | +€24,739 | +23.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €18,000 | €18,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €15,500 | €15,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,775 | -€124,036 | +€24,739 | +16.6% |
| Amounts payable | 17/49 | €221,495 | €191,332 | -€30,163 | -13.6% |
| Amounts payable after more than one year | 17 | €198,345 | €157,016 | -€41,329 | -20.8% |
| Financial debts | 170/4 | €114,000 | €119,000 | +€5,000 | +4.4% |
| Other amounts payable | 178/9 | €84,345 | €38,016 | -€46,329 | -54.9% |
| Amounts payable within one year | 42/48 | €21,067 | €32,871 | +€11,804 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €15,000 | +€3,000 | +25.0% |
| Trade debts | 44 | €9,067 | €17,871 | +€8,804 | +97.1% |
| Suppliers | 440/4 | €9,067 | €17,871 | +€8,804 | +97.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,082 | €1,444 | -€638 | -30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,155 | €4,061 | +€906 | +28.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,080 | €1,777 | -€9,303 | -84.0% |
| Other operating charges | 640/8 | €833 | €1,716 | +€883 | +106.0% |
| Non-recurring operating charges | 66A | €0 | €1,975 | +€1,975 | |
| Gross operating margin | 9900 | €20,388 | €38,427 | +€18,039 | +88.5% |
| Operating profit (loss) | 9901 | €5,319 | €28,898 | +€23,579 | +443.3% |
| Financial income | 75/76B | €5 | €185,394 | +€185,389 | +3537957.8% |
| Recurring financial income | 75 | €5 | €2,465 | +€2,460 | +46938.0% |
| Non-recurring financial income | 76B | - | €182,929 | +€182,929 | |
| Financial charges | 65/66B | €8,050 | €189,553 | +€181,503 | +2254.6% |
| Recurring financial charges | 65 | €8,050 | €6,625 | -€1,426 | -17.7% |
| Non-recurring financial charges | 66B | - | €182,928 | +€182,928 | |
| Profit (loss) for the period before taxes | 9903 | -€2,726 | €24,739 | +€27,465 | |
| Income taxes | 67/77 | €2 | €0 | -€2 | -100.0% |
| Profit (loss) for the period | 9904 | -€2,728 | €24,739 | +€27,467 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,728 | €24,739 | +€27,467 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.