BREM: 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.
What changed
BREM
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€42,918
2024 · -€143,866+€186,785
Equity
-€219,890
2024 · -€262,809+€42,918
Cash
€4,385
2024 · €742+€3,642
Balance sheet total
€1.5m
2024 · €2.1m-€530,380
Largest movements
Assets
- Tangible fixed assets -€572,200
down €572,200 (-28.2%), from €2.0m to €1.5m
of which Land and buildings: -€516,482
- Deferred charges and accrued income +€31,327
up €31,327 (+7100.0%), from €441 to €31,769
Equity and liabilities
- Debts after one year -€531,889
down €531,889 (-28.3%), from €1.9m to €1.3m
- Profit (loss) carried forward +€42,918
up €42,918 (+11.5%), from -€373,038 to -€330,120
- Other debts -€33,246
down €33,246 (-11.0%), from €302,352 to €269,106
- Tax, wage and social debts -€26,998
down €26,998 (-96.2%), from €28,054 to €1,056
Income statement
- Gross operating margin +€175,149
up €175,149 (+213.4%), from €82,065 to €257,214
- Other operating charges +€78,867
up €78,867 (+333.5%), from €23,650 to €102,516
- Depreciation -€26,966
down €26,966 (-32.4%), from €83,271 to €56,305
- Taxes -€3,188
down €3,188 (-85.9%), from €3,711 to €523
- Financial charges -€2,613
down €2,613 (-7.3%), from €35,940 to €33,327
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.
Result 2024
-€143,866
Gross operating margin
+€175,149
Depreciation
+€26,966
Other operating charges
-€78,867
Other operating items
+€57,690
Financial income
+€45
Financial charges
+€2,613
Taxes
+€3,188
Result 2025
€42,918
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.
From operations
+€12,861
Investment
+€515,895
Financing
-€525,114
Cash 2024
€742
From operations (derived)
+€12,861
Net result for the year
+€42,918
Depreciation
+€56,305
Receivables within one year
-€6,851
Deferred charges and accrued income
-€31,327
Trade debts
+€13,486
Tax, wage and social debts
-€26,998
Other debts
-€33,246
Accrued charges and deferred income
-€1,426
Investment (derived)
+€515,895
Investment in fixed assets (net)
+€515,895
Financing
-€525,114
Debts after one year
-€531,889
Current portion of long-term debt
+€7,254
Short-term financial debts
-€478
Cash 2025
€4,385
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,078,381 | €1,548,001 | -€530,380 | -25.5% |
| Fixed assets | 21/28 | €2,031,893 | €1,459,693 | -€572,200 | -28.2% |
| Tangible fixed assets | 22/27 | €2,030,750 | €1,458,550 | -€572,200 | -28.2% |
| Land and buildings | 22 | €973,135 | €456,654 | -€516,482 | -53.1% |
| Plant, machinery and equipment | 23 | €1,756 | €997 | -€759 | -43.2% |
| Furniture and vehicles | 24 | €6,539 | €4,720 | -€1,819 | -27.8% |
| Other tangible fixed assets | 26 | €1,049,320 | €996,180 | -€53,140 | -5.1% |
| Financial fixed assets | 28 | €1,142 | €1,142 | = | 0.0% |
| Current assets | 29/58 | €46,488 | €88,308 | +€41,820 | +90.0% |
| Amounts receivable within one year | 40/41 | €45,304 | €52,155 | +€6,851 | +15.1% |
| Trade receivables | 40 | €13,059 | €11,399 | -€1,660 | -12.7% |
| Other amounts receivable | 41 | €32,245 | €40,756 | +€8,511 | +26.4% |
| Cash at bank and in hand | 54/58 | €742 | €4,385 | +€3,642 | +490.5% |
| Deferred charges and accrued income | 490/1 | €441 | €31,769 | +€31,327 | +7100.0% |
| Total equity and liabilities | 10/49 | €2,078,381 | €1,548,001 | -€530,380 | -25.5% |
| Equity | 10/15 | -€262,809 | -€219,890 | +€42,918 | +16.3% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €85,440 | €85,440 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,961 | €22,961 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€373,038 | -€330,120 | +€42,918 | +11.5% |
| Amounts payable | 17/49 | €2,341,189 | €1,767,891 | -€573,298 | -24.5% |
| Amounts payable after more than one year | 17 | €1,878,371 | €1,346,481 | -€531,889 | -28.3% |
| Financial debts | 170/4 | €1,878,371 | €1,346,481 | -€531,889 | -28.3% |
| Amounts payable within one year | 42/48 | €445,749 | €405,767 | -€39,982 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €102,698 | €109,951 | +€7,254 | +7.1% |
| Financial debts | 43 | €1,043 | €565 | -€478 | -45.8% |
| Credit institutions | 430/8 | €1,043 | €565 | -€478 | -45.8% |
| Trade debts | 44 | €11,602 | €25,088 | +€13,486 | +116.2% |
| Suppliers | 440/4 | €11,602 | €25,088 | +€13,486 | +116.2% |
| Taxes, remuneration and social security | 45 | €28,054 | €1,056 | -€26,998 | -96.2% |
| Taxes | 450/3 | €28,054 | €1,056 | -€26,998 | -96.2% |
| Other amounts payable | 47/48 | €302,352 | €269,106 | -€33,246 | -11.0% |
| Accrued charges and deferred income | 492/3 | €17,069 | €15,643 | -€1,426 | -8.4% |
| Non-recurring operating income | 76A | - | €30,000 | +€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,271 | €56,305 | -€26,966 | -32.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €23,650 | €102,516 | +€78,867 | +333.5% |
| Non-recurring operating charges | 66A | €79,945 | €22,255 | -€57,690 | -72.2% |
| Gross operating margin | 9900 | €82,065 | €257,214 | +€175,149 | +213.4% |
| Operating profit (loss) | 9901 | -€104,801 | €76,138 | +€180,939 | |
| Financial income | 75/76B | €586 | €631 | +€45 | +7.7% |
| Recurring financial income | 75 | €586 | €631 | +€45 | +7.7% |
| Financial charges | 65/66B | €35,940 | €33,327 | -€2,613 | -7.3% |
| Recurring financial charges | 65 | €35,940 | €33,327 | -€2,613 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€140,155 | €43,441 | +€183,597 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €3,711 | €523 | -€3,188 | -85.9% |
| Profit (loss) for the period | 9904 | -€143,866 | €42,918 | +€186,785 | |
| Profit (loss) for the period to be appropriated | 9905 | -€143,866 | €42,918 | +€186,785 |
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 8 October 2026 via checked.be.