B.R.G.: what changed
B.R.G.
Largest movements
- Cash -€29,517
down €29,517 (-84.9%), from €34,757 to €5,240
mainly Deferred charges and accrued income (-€22,060) and Tax, wage and social debts (-€19,876)
- Receivables within one year -€23,130
down €23,130 (-16.5%), from €140,236 to €117,106
of which Trade receivables: -€26,015
- Deferred charges and accrued income +€22,060
new in 2025: €22,060
- Tangible fixed assets -€16,771
down €16,771 (-65.4%), from €25,643 to €8,872
of which Furniture and vehicles: -€15,004
- Tax, wage and social debts -€19,876
down €19,876 (-80.9%), from €24,576 to €4,700
- Trade debts -€15,907
down €15,907 (-60.7%), from €26,224 to €10,317
- Profit (loss) carried forward -€11,575
down €11,575 (-24.3%), from -€47,632 to -€59,207
- Gross operating margin +€42,859
up €42,859, from -€37,446 to €5,414
- Other operating charges -€2,246
down €2,246 (-95.8%), from €2,345 to €99
- Financial charges +€1,817
up €1,817 (+187%), from €971 to €2,788
- Depreciation -€1,142
down €1,142 (-6.4%), from €17,913 to €16,771
- Financial income -€1,065
down €1,065 (-28.5%), from €3,733 to €2,669
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,636 | €153,279 | -€47,358 | -23.6% |
| Fixed assets | 21/28 | €25,643 | €8,872 | -€16,771 | -65.4% |
| Tangible fixed assets | 22/27 | €25,643 | €8,872 | -€16,771 | -65.4% |
| Plant, machinery and equipment | 23 | €2,961 | €1,194 | -€1,767 | -59.7% |
| Furniture and vehicles | 24 | €22,682 | €7,678 | -€15,004 | -66.1% |
| Current assets | 29/58 | €174,993 | €144,406 | -€30,587 | -17.5% |
| Amounts receivable within one year | 40/41 | €140,236 | €117,106 | -€23,130 | -16.5% |
| Trade receivables | 40 | €69,664 | €43,649 | -€26,015 | -37.3% |
| Other amounts receivable | 41 | €70,572 | €73,457 | +€2,885 | +4.1% |
| Cash at bank and in hand | 54/58 | €34,757 | €5,240 | -€29,517 | -84.9% |
| Deferred charges and accrued income | 490/1 | - | €22,060 | +€22,060 | |
| Total equity and liabilities | 10/49 | €200,636 | €153,279 | -€47,358 | -23.6% |
| Equity | 10/15 | €149,837 | €138,262 | -€11,575 | -7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €178,869 | €178,869 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €177,009 | €177,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,632 | -€59,207 | -€11,575 | -24.3% |
| Amounts payable | 17/49 | €50,799 | €15,017 | -€35,783 | -70.4% |
| Amounts payable within one year | 42/48 | €50,799 | €15,017 | -€35,783 | -70.4% |
| Trade debts | 44 | €26,224 | €10,317 | -€15,907 | -60.7% |
| Suppliers | 440/4 | €26,224 | €10,317 | -€15,907 | -60.7% |
| Taxes, remuneration and social security | 45 | €24,576 | €4,700 | -€19,876 | -80.9% |
| Taxes | 450/3 | €24,576 | €4,700 | -€19,876 | -80.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,913 | €16,771 | -€1,142 | -6.4% |
| Other operating charges | 640/8 | €2,345 | €99 | -€2,246 | -95.8% |
| Gross operating margin | 9900 | -€37,446 | €5,414 | +€42,859 | |
| Operating profit (loss) | 9901 | -€57,704 | -€11,456 | +€46,248 | +80.1% |
| Financial income | 75/76B | €3,733 | €2,669 | -€1,065 | -28.5% |
| Recurring financial income | 75 | €3,733 | €2,669 | -€1,065 | -28.5% |
| Financial charges | 65/66B | €971 | €2,788 | +€1,817 | +187% |
| Recurring financial charges | 65 | €971 | €2,788 | +€1,817 | +187% |
| Profit (loss) for the period before taxes | 9903 | -€54,941 | -€11,575 | +€43,366 | +78.9% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€54,941 | -€11,575 | +€43,366 | +78.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,941 | -€11,575 | +€43,366 | +78.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.