BRG: 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.
BRG
Largest movements
- Cash -€271,623
down €271,623 (-96.4%), from €281,751 to €10,128
mainly Contributions, distributions and other (-€366,000) and Deferred charges and accrued income (-€31,312)
- Current investments -€103,874
down €103,874 (-7.0%), from €1.5m to €1.4m
- Reserves -€366,000
down €366,000 (-75.9%), from €482,104 to €116,104
- Gross operating margin -€39,363
down €39,363, from €37,142 to -€2,220
- Taxes -€7,844
down €7,844 (-44.5%), from €17,614 to €9,770
- Financial income +€7,673
up €7,673 (+16.3%), from €47,207 to €54,880
- Financial charges +€5,441
up €5,441 (+66.8%), from €8,141 to €13,581
- Other operating charges +€557
up €557 (+33.7%), from €1,653 to €2,210
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,154,533 | €5,812,744 | -€341,789 | -5.6% |
| Fixed assets | 21/28 | €3,307,206 | €3,306,875 | -€331 | 0.0% |
| Tangible fixed assets | 22/27 | €331 | - | -€331 | |
| Furniture and vehicles | 24 | €331 | - | -€331 | |
| Financial fixed assets | 28 | €3,306,875 | €3,306,875 | = | 0.0% |
| Current assets | 29/58 | €2,847,328 | €2,505,869 | -€341,459 | -12.0% |
| Amounts receivable after more than one year | 29 | €1,043,746 | €1,043,746 | = | 0.0% |
| Other amounts receivable | 291 | €1,043,746 | €1,043,746 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,430 | €7,156 | +€2,726 | +61.5% |
| Trade receivables | 40 | - | €726 | +€726 | |
| Other amounts receivable | 41 | €4,430 | €6,430 | +€2,000 | +45.1% |
| Current investments | 50/53 | €1,486,088 | €1,382,214 | -€103,874 | -7.0% |
| Cash at bank and in hand | 54/58 | €281,751 | €10,128 | -€271,623 | -96.4% |
| Deferred charges and accrued income | 490/1 | €31,312 | €62,625 | +€31,312 | +100.0% |
| Total equity and liabilities | 10/49 | €6,154,533 | €5,812,744 | -€341,789 | -5.6% |
| Equity | 10/15 | €5,785,330 | €5,446,429 | -€338,901 | -5.9% |
| Contributions | 10/11 | €1,345,395 | €1,345,395 | = | 0.0% |
| Reserves | 13 | €482,104 | €116,104 | -€366,000 | -75.9% |
| Distributable reserves | 133 | €482,104 | €116,104 | -€366,000 | -75.9% |
| Profit (loss) carried forward | 14 | €3,957,832 | €3,984,930 | +€27,099 | +0.7% |
| Amounts payable | 17/49 | €369,203 | €366,315 | -€2,888 | -0.8% |
| Amounts payable within one year | 42/48 | €369,203 | €366,315 | -€2,888 | -0.8% |
| Trade debts | 44 | €203 | €315 | +€112 | +55.2% |
| Suppliers | 440/4 | €203 | €315 | +€112 | +55.2% |
| Other amounts payable | 47/48 | €369,000 | €366,000 | -€3,000 | -0.8% |
| Non-recurring operating income | 76A | €42,320 | - | -€42,320 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €508 | - | -€508 | |
| Other operating charges | 640/8 | €1,653 | €2,210 | +€557 | +33.7% |
| Gross operating margin | 9900 | €37,142 | -€2,220 | -€39,363 | |
| Operating profit (loss) | 9901 | €34,982 | -€4,430 | -€39,412 | |
| Financial income | 75/76B | €47,207 | €54,880 | +€7,673 | +16.3% |
| Recurring financial income | 75 | €47,207 | €54,880 | +€7,673 | +16.3% |
| Financial charges | 65/66B | €8,141 | €13,581 | +€5,441 | +66.8% |
| Recurring financial charges | 65 | €8,141 | €13,581 | +€5,441 | +66.8% |
| Profit (loss) for the period before taxes | 9903 | €74,048 | €36,868 | -€37,180 | -50.2% |
| Income taxes | 67/77 | €17,614 | €9,770 | -€7,844 | -44.5% |
| Profit (loss) for the period | 9904 | €56,434 | €27,099 | -€29,335 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,434 | €27,099 | -€29,335 | -52.0% |
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 30 September 2026 via checked.be.