B.R.S.: 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.S.
Largest movements
- Receivables within one year +€146,788
up €146,788 (+53.3%), from €275,351 to €422,140
of which Other amounts receivable: +€96,274
- Cash -€55,023
down €55,023 (-34.8%), from €158,013 to €102,990
mainly Receivables within one year (-€146,788) and Contributions, distributions and other (-€106,610)
- Current investments -€50,000
down €50,000 (-16.7%), from €300,000 to €250,000
- Reserves +€97,479
up €97,479 (+9.6%), from €1.0m to €1.1m
of which Distributable reserves: +€97,479
- Tax, wage and social debts -€84,723
down €84,723 (-70.3%), from €120,457 to €35,734
of which Taxes: -€84,567
- Other debts +€19,424
up €19,424 (+4.7%), from €413,536 to €432,960
- Financial income -€29,269
down €29,269 (-49.5%), from €59,102 to €29,833
- Gross operating margin -€17,448
down €17,448 (-5.5%), from €314,637 to €297,189
- Taxes -€12,493
down €12,493 (-13.1%), from €95,136 to €82,643
- Depreciation +€3,188
up €3,188 (+64.4%), from €4,951 to €8,139
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 | €1,753,836 | €1,786,204 | +€32,368 | +1.8% |
| Fixed assets | 21/28 | €1,018,550 | €1,010,411 | -€8,139 | -0.8% |
| Tangible fixed assets | 22/27 | €35,742 | €27,603 | -€8,139 | -22.8% |
| Furniture and vehicles | 24 | €35,742 | €27,603 | -€8,139 | -22.8% |
| Financial fixed assets | 28 | €982,808 | €982,808 | = | 0.0% |
| Current assets | 29/58 | €735,286 | €775,793 | +€40,506 | +5.5% |
| Amounts receivable within one year | 40/41 | €275,351 | €422,140 | +€146,788 | +53.3% |
| Trade receivables | 40 | €275,318 | €325,833 | +€50,514 | +18.3% |
| Other amounts receivable | 41 | €33 | €96,307 | +€96,274 | +290,419% |
| Current investments | 50/53 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €158,013 | €102,990 | -€55,023 | -34.8% |
| Deferred charges and accrued income | 490/1 | €1,922 | €662 | -€1,259 | -65.5% |
| Total equity and liabilities | 10/49 | €1,753,836 | €1,786,204 | +€32,368 | +1.8% |
| Equity | 10/15 | €1,212,764 | €1,310,243 | +€97,479 | +8.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,012,764 | €1,110,243 | +€97,479 | +9.6% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €992,764 | €1,090,243 | +€97,479 | +9.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €541,072 | €475,961 | -€65,112 | -12.0% |
| Amounts payable within one year | 42/48 | €539,979 | €474,334 | -€65,644 | -12.2% |
| Financial debts | 43 | €4,375 | €4,375 | = | 0.0% |
| Credit institutions | 430/8 | - | €4,375 | +€4,375 | |
| Other loans | 439 | €4,375 | €0 | -€4,375 | -100% |
| Trade debts | 44 | €1,611 | €1,266 | -€345 | -21.4% |
| Suppliers | 440/4 | €1,611 | €1,266 | -€345 | -21.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €120,457 | €35,734 | -€84,723 | -70.3% |
| Taxes | 450/3 | €120,301 | €35,734 | -€84,567 | -70.3% |
| Remuneration and social security | 454/9 | €156 | €0 | -€156 | -100% |
| Other amounts payable | 47/48 | €413,536 | €432,960 | +€19,424 | +4.7% |
| Accrued charges and deferred income | 492/3 | €1,094 | €1,626 | +€533 | +48.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,951 | €8,139 | +€3,188 | +64.4% |
| Other operating charges | 640/8 | €2,275 | €1,529 | -€745 | -32.8% |
| Gross operating margin | 9900 | €314,637 | €297,189 | -€17,448 | -5.5% |
| Operating profit (loss) | 9901 | €307,411 | €287,521 | -€19,890 | -6.5% |
| Financial income | 75/76B | €59,102 | €29,833 | -€29,269 | -49.5% |
| Recurring financial income | 75 | €59,102 | €29,833 | -€29,269 | -49.5% |
| Financial charges | 65/66B | €30,784 | €30,622 | -€163 | -0.5% |
| Recurring financial charges | 65 | €30,784 | €30,622 | -€163 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €335,728 | €286,732 | -€48,996 | -14.6% |
| Income taxes | 67/77 | €95,136 | €82,643 | -€12,493 | -13.1% |
| Profit (loss) for the period | 9904 | €240,593 | €204,089 | -€36,503 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €240,593 | €204,089 | -€36,503 | -15.2% |
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 26 October 2026 via checked.be.