BRM Management: 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.
BRM Management
Largest movements
- Financial fixed assets +€4,500
up €4,500 (+1.0%), from €437,772 to €442,272
- Debts after one year -€26,806
down €26,806 (-6.5%), from €413,882 to €387,076
- Reserves +€13,727
new in 2025: €13,727
- Tax, wage and social debts +€6,199
new in 2025: €6,199
- Gross operating margin +€26,862
up €26,862, from -€681 to €26,181
- Financial charges +€4,758
up €4,758 (+882%), from €539 to €5,297
- Taxes +€3,532
new in 2025: €3,532
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 | €440,404 | €443,132 | +€2,728 | +0.6% |
| Formation expenses | 20 | €1,138 | €795 | -€343 | -30.1% |
| Fixed assets | 21/28 | €437,772 | €442,272 | +€4,500 | +1.0% |
| Financial fixed assets | 28 | €437,772 | €442,272 | +€4,500 | +1.0% |
| Current assets | 29/58 | €1,493 | €64 | -€1,429 | -95.7% |
| Amounts receivable within one year | 40/41 | €1,142 | €2 | -€1,140 | -99.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,142 | €2 | -€1,140 | -99.8% |
| Cash at bank and in hand | 54/58 | €351 | €62 | -€289 | -82.4% |
| Total equity and liabilities | 10/49 | €440,404 | €443,132 | +€2,728 | +0.6% |
| Equity | 10/15 | €2,246 | €18,727 | +€16,481 | +734% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €13,727 | +€13,727 | |
| Distributable reserves | 133 | - | €13,727 | +€13,727 | |
| Profit (loss) carried forward | 14 | -€2,754 | €0 | +€2,754 | |
| Amounts payable | 17/49 | €438,158 | €424,405 | -€13,753 | -3.1% |
| Amounts payable after more than one year | 17 | €413,882 | €387,076 | -€26,806 | -6.5% |
| Financial debts | 170/4 | €413,882 | €387,076 | -€26,806 | -6.5% |
| Amounts payable within one year | 42/48 | €24,276 | €37,274 | +€12,998 | +53.5% |
| Current portion of amounts payable after more than one year | 42 | €23,890 | €26,806 | +€2,915 | +12.2% |
| Trade debts | 44 | €386 | €790 | +€405 | +105% |
| Suppliers | 440/4 | €386 | €790 | +€405 | +105% |
| Taxes, remuneration and social security | 45 | - | €6,199 | +€6,199 | |
| Taxes | 450/3 | - | €6,199 | +€6,199 | |
| Other amounts payable | 47/48 | - | €3,479 | +€3,479 | |
| Accrued charges and deferred income | 492/3 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €343 | €343 | = | 0.0% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€681 | €26,181 | +€26,862 | |
| Operating profit (loss) | 9901 | -€1,538 | €25,310 | +€26,848 | |
| Financial charges | 65/66B | €539 | €5,297 | +€4,758 | +882% |
| Recurring financial charges | 65 | €539 | €5,297 | +€4,758 | +882% |
| Profit (loss) for the period before taxes | 9903 | -€2,077 | €20,012 | +€22,090 | |
| Income taxes | 67/77 | - | €3,532 | +€3,532 | |
| Profit (loss) for the period | 9904 | -€2,077 | €16,481 | +€18,558 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,077 | €16,481 | +€18,558 |
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 25 October 2026 via checked.be.