BR & H: 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.
BR & H
Largest movements
- Tangible fixed assets -€59,040
down €59,040 (-3.7%), from €1.6m to €1.5m
of which Land and buildings: -€58,800
- Other debts -€45,257
down €45,257 (-3.2%), from €1.4m to €1.4m
- Gross operating margin +€34,217
up €34,217 (+74.7%), from €45,824 to €80,042
- Taxes -€4,559
no longer reported in 2025 (was €4,559)
- Financial charges +€2,390
up €2,390 (+10,171%), from €24 to €2,414
- Depreciation +€1,392
up €1,392 (+2.1%), from €65,580 to €66,972
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 | €1,649,766 | €1,597,266 | -€52,501 | -3.2% |
| Fixed assets | 21/28 | €1,601,477 | €1,542,438 | -€59,040 | -3.7% |
| Tangible fixed assets | 22/27 | €1,601,477 | €1,542,438 | -€59,040 | -3.7% |
| Land and buildings | 22 | €1,563,925 | €1,505,125 | -€58,800 | -3.8% |
| Plant, machinery and equipment | 23 | €34,544 | €35,031 | +€486 | +1.4% |
| Furniture and vehicles | 24 | €3,008 | €2,281 | -€726 | -24.1% |
| Current assets | 29/58 | €48,289 | €54,828 | +€6,539 | +13.5% |
| Amounts receivable within one year | 40/41 | €39,250 | €41,800 | +€2,550 | +6.5% |
| Trade receivables | 40 | €2,250 | - | -€2,250 | |
| Other amounts receivable | 41 | €37,000 | €41,800 | +€4,800 | +13.0% |
| Cash at bank and in hand | 54/58 | €9,039 | €13,028 | +€3,989 | +44.1% |
| Total equity and liabilities | 10/49 | €1,649,766 | €1,597,266 | -€52,501 | -3.2% |
| Equity | 10/15 | €174,794 | €173,897 | -€897 | -0.5% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€175,206 | -€176,103 | -€897 | -0.5% |
| Amounts payable | 17/49 | €1,474,973 | €1,423,369 | -€51,604 | -3.5% |
| Amounts payable after more than one year | 17 | €50,000 | €37,411 | -€12,589 | -25.2% |
| Financial debts | 170/4 | €50,000 | €37,411 | -€12,589 | -25.2% |
| Amounts payable within one year | 42/48 | €1,424,973 | €1,385,958 | -€39,015 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | - | €6,448 | +€6,448 | |
| Trade debts | 44 | €3,386 | €3,179 | -€206 | -6.1% |
| Suppliers | 440/4 | €3,386 | €3,179 | -€206 | -6.1% |
| Other amounts payable | 47/48 | €1,421,587 | €1,376,330 | -€45,257 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,580 | €66,972 | +€1,392 | +2.1% |
| Other operating charges | 640/8 | €10,800 | €11,553 | +€752 | +7.0% |
| Gross operating margin | 9900 | €45,824 | €80,042 | +€34,217 | +74.7% |
| Operating profit (loss) | 9901 | -€30,556 | €1,517 | +€32,073 | |
| Financial charges | 65/66B | €24 | €2,414 | +€2,390 | +10,171% |
| Recurring financial charges | 65 | €24 | €2,414 | +€2,390 | +10,171% |
| Profit (loss) for the period before taxes | 9903 | -€30,579 | -€897 | +€29,683 | +97.1% |
| Income taxes | 67/77 | €4,559 | - | -€4,559 | |
| Profit (loss) for the period | 9904 | -€35,138 | -€897 | +€34,241 | +97.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,138 | -€897 | +€34,241 | +97.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.