B.R.M.: 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.M.
Largest movements
- Receivables within one year +€165,244
up €165,244 (+96.9%), from €170,529 to €335,773
of which Trade receivables: +€152,252
- Tangible fixed assets -€127,009
down €127,009 (-20.2%), from €630,012 to €503,003
of which Furniture and vehicles: -€97,272
- Cash -€17,335
down €17,335 (-39.0%), from €44,405 to €27,070
mainly Receivables within one year (-€165,244) and Debts after one year (-€88,765)
- Short-term financial debts +€150,000
new in 2025: €150,000
- Debts after one year -€88,765
down €88,765 (-40.2%), from €220,939 to €132,175
- Reserves -€46,023
down €46,023 (-9.4%), from €488,940 to €442,917
of which Distributable reserves: -€46,023
- Profit (loss) carried forward -€30,063
new in 2025: -€30,063
- Tax, wage and social debts -€28,763
down €28,763 (-42.0%), from €68,477 to €39,714
of which Taxes: -€44,641
- Gross operating margin -€84,221
down €84,221 (-18.8%), from €447,016 to €362,796
- Staff costs -€26,195
down €26,195 (-8.7%), from €300,719 to €274,524
- Taxes -€15,664
down €15,664, from €13,016 to -€2,648
- Financial income -€12,573
down €12,573 (-42.3%), from €29,739 to €17,166
- Depreciation +€9,896
up €9,896 (+10.4%), from €94,782 to €104,678
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.
Derived cash bridge
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 | €1,021,066 | €1,029,857 | +€8,791 | +0.9% |
| Fixed assets | 21/28 | €630,012 | €506,707 | -€123,306 | -19.6% |
| Intangible fixed assets | 21 | - | €3,703 | +€3,703 | |
| Tangible fixed assets | 22/27 | €630,012 | €503,003 | -€127,009 | -20.2% |
| Land and buildings | 22 | €183,601 | €170,653 | -€12,948 | -7.1% |
| Plant, machinery and equipment | 23 | €15,947 | €11,369 | -€4,579 | -28.7% |
| Furniture and vehicles | 24 | €271,461 | €174,189 | -€97,272 | -35.8% |
| Other tangible fixed assets | 26 | €159,003 | €146,792 | -€12,210 | -7.7% |
| Current assets | 29/58 | €391,054 | €523,150 | +€132,097 | +33.8% |
| Stocks and contracts in progress | 3 | €159,868 | €149,582 | -€10,286 | -6.4% |
| Stocks | 30/36 | €159,868 | €149,582 | -€10,286 | -6.4% |
| Amounts receivable within one year | 40/41 | €170,529 | €335,773 | +€165,244 | +96.9% |
| Trade receivables | 40 | €168,385 | €320,637 | +€152,252 | +90.4% |
| Other amounts receivable | 41 | €2,144 | €15,136 | +€12,992 | +606% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €44,405 | €27,070 | -€17,335 | -39.0% |
| Deferred charges and accrued income | 490/1 | €16,250 | €10,724 | -€5,526 | -34.0% |
| Total equity and liabilities | 10/49 | €1,021,066 | €1,029,857 | +€8,791 | +0.9% |
| Equity | 10/15 | €501,340 | €425,254 | -€76,086 | -15.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €488,940 | €442,917 | -€46,023 | -9.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €501 | €501 | = | 0.0% |
| Distributable reserves | 133 | €486,578 | €440,556 | -€46,023 | -9.5% |
| Profit (loss) carried forward | 14 | - | -€30,063 | -€30,063 | |
| Provisions and deferred taxes | 16 | €3,000 | €3,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,000 | €3,000 | = | 0.0% |
| Environmental obligations | 163 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €516,726 | €601,603 | +€84,877 | +16.4% |
| Amounts payable after more than one year | 17 | €220,939 | €132,175 | -€88,765 | -40.2% |
| Financial debts | 170/4 | €220,939 | €132,175 | -€88,765 | -40.2% |
| Amounts payable within one year | 42/48 | €295,776 | €469,318 | +€173,542 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €69,209 | €82,165 | +€12,956 | +18.7% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €67,855 | €93,590 | +€25,735 | +37.9% |
| Suppliers | 440/4 | €67,855 | €93,590 | +€25,735 | +37.9% |
| Taxes, remuneration and social security | 45 | €68,477 | €39,714 | -€28,763 | -42.0% |
| Taxes | 450/3 | €49,801 | €5,161 | -€44,641 | -89.6% |
| Remuneration and social security | 454/9 | €18,676 | €34,553 | +€15,877 | +85.0% |
| Other amounts payable | 47/48 | €90,235 | €103,849 | +€13,614 | +15.1% |
| Accrued charges and deferred income | 492/3 | €11 | €110 | +€99 | +913% |
| Remuneration, social security and pensions | 62 | €300,719 | €274,524 | -€26,195 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,782 | €104,678 | +€9,896 | +10.4% |
| Other operating charges | 640/8 | €16,087 | €11,350 | -€4,737 | -29.4% |
| Non-recurring operating charges | 66A | €17,357 | €7,775 | -€9,581 | -55.2% |
| Gross operating margin | 9900 | €447,016 | €362,796 | -€84,221 | -18.8% |
| Operating profit (loss) | 9901 | €18,072 | -€35,532 | -€53,603 | |
| Financial income | 75/76B | €29,739 | €17,166 | -€12,573 | -42.3% |
| Recurring financial income | 75 | €29,739 | €17,166 | -€12,573 | -42.3% |
| Financial charges | 65/66B | €15,880 | €14,345 | -€1,536 | -9.7% |
| Recurring financial charges | 65 | €15,880 | €14,345 | -€1,536 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €31,930 | -€32,711 | -€64,641 | |
| Income taxes | 67/77 | €13,016 | -€2,648 | -€15,664 | |
| Profit (loss) for the period | 9904 | €18,914 | -€30,063 | -€48,977 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,914 | -€30,063 | -€48,977 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.