BRN: 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.
BRN
Largest movements
- Current investments +€828,052
up €828,052 (+165.6%), from €500,000 to €1.3m
- Cash -€660,147
down €660,147 (-52.2%), from €1.3m to €604,056
mainly Current investments (-€828,052) and Stocks and contracts (-€176,954)
- Stocks and contracts +€176,954
up €176,954 (+38.1%), from €464,981 to €641,935
- Receivables within one year +€85,616
up €85,616 (+8.9%), from €958,546 to €1.0m
of which Other amounts receivable: +€44,722
- Tangible fixed assets +€77,105
up €77,105 (+22.6%), from €341,701 to €418,806
of which Furniture and vehicles: +€101,423
- Reserves +€333,119
up €333,119 (+20.4%), from €1.6m to €2.0m
of which Distributable reserves: +€333,119
- Advances received +€240,943
up €240,943 (+54.7%), from €440,599 to €681,542
- Trade debts -€77,681
down €77,681 (-8.9%), from €873,062 to €795,381
- Other debts -€51,766
down €51,766 (-25.7%), from €201,363 to €149,597
- Accrued charges and deferred income +€49,035
up €49,035 (+60.0%), from €81,710 to €130,745
- Gross operating margin -€343,005
down €343,005 (-18.0%), from €1.9m to €1.6m
- Taxes -€89,294
down €89,294 (-40.7%), from €219,513 to €130,220
- Financial income -€43,403
down €43,403 (-76.8%), from €56,506 to €13,103
- Other operating charges -€39,343
down €39,343 (-79.8%), from €49,319 to €9,976
- Write-downs +€31,569
up €31,569 (+228.4%), from €13,823 to €45,392
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 | €3,534,593 | €4,059,970 | +€525,376 | +14.9% |
| Fixed assets | 21/28 | €341,851 | €418,956 | +€77,105 | +22.6% |
| Tangible fixed assets | 22/27 | €341,701 | €418,806 | +€77,105 | +22.6% |
| Land and buildings | 22 | €230,133 | €206,064 | -€24,069 | -10.5% |
| Plant, machinery and equipment | 23 | €543 | €294 | -€249 | -45.9% |
| Furniture and vehicles | 24 | €111,025 | €212,448 | +€101,423 | +91.4% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €3,192,742 | €3,641,014 | +€448,271 | +14.0% |
| Amounts receivable after more than one year | 29 | €6 | €6 | = | 0.0% |
| Other amounts receivable | 291 | €6 | €6 | = | 0.0% |
| Stocks and contracts in progress | 3 | €464,981 | €641,935 | +€176,954 | +38.1% |
| Stocks | 30/36 | €464,981 | €641,935 | +€176,954 | +38.1% |
| Amounts receivable within one year | 40/41 | €958,546 | €1,044,162 | +€85,616 | +8.9% |
| Trade receivables | 40 | €951,693 | €992,587 | +€40,894 | +4.3% |
| Other amounts receivable | 41 | €6,853 | €51,575 | +€44,722 | +652.6% |
| Current investments | 50/53 | €500,000 | €1,328,052 | +€828,052 | +165.6% |
| Cash at bank and in hand | 54/58 | €1,264,203 | €604,056 | -€660,147 | -52.2% |
| Deferred charges and accrued income | 490/1 | €5,007 | €22,803 | +€17,796 | +355.4% |
| Total equity and liabilities | 10/49 | €3,534,593 | €4,059,970 | +€525,376 | +14.9% |
| Equity | 10/15 | €1,692,532 | €2,025,652 | +€333,119 | +19.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,631,032 | €1,964,152 | +€333,119 | +20.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,606,132 | €1,939,252 | +€333,119 | +20.7% |
| Amounts payable | 17/49 | €1,842,061 | €2,034,318 | +€192,257 | +10.4% |
| Amounts payable within one year | 42/48 | €1,760,351 | €1,903,573 | +€143,222 | +8.1% |
| Trade debts | 44 | €873,062 | €795,381 | -€77,681 | -8.9% |
| Suppliers | 440/4 | €873,062 | €795,381 | -€77,681 | -8.9% |
| Advances received on contracts in progress | 46 | €440,599 | €681,542 | +€240,943 | +54.7% |
| Taxes, remuneration and social security | 45 | €245,327 | €277,052 | +€31,725 | +12.9% |
| Taxes | 450/3 | €114,314 | €149,469 | +€35,156 | +30.8% |
| Remuneration and social security | 454/9 | €131,014 | €127,583 | -€3,431 | -2.6% |
| Other amounts payable | 47/48 | €201,363 | €149,597 | -€51,766 | -25.7% |
| Accrued charges and deferred income | 492/3 | €81,710 | €130,745 | +€49,035 | +60.0% |
| Non-recurring operating income | 76A | €1,000 | €500 | -€500 | -50.0% |
| Remuneration, social security and pensions | 62 | €859,918 | €880,203 | +€20,285 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,341 | €78,102 | +€25,761 | +49.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,823 | €45,392 | +€31,569 | +228.4% |
| Other operating charges | 640/8 | €49,319 | €9,976 | -€39,343 | -79.8% |
| Gross operating margin | 9900 | €1,909,582 | €1,566,577 | -€343,005 | -18.0% |
| Operating profit (loss) | 9901 | €934,181 | €552,904 | -€381,277 | -40.8% |
| Financial income | 75/76B | €56,506 | €13,103 | -€43,403 | -76.8% |
| Recurring financial income | 75 | €56,506 | €13,103 | -€43,403 | -76.8% |
| Financial charges | 65/66B | €14,946 | €2,668 | -€12,278 | -82.1% |
| Recurring financial charges | 65 | €14,946 | €2,668 | -€12,278 | -82.1% |
| Profit (loss) for the period before taxes | 9903 | €975,741 | €563,339 | -€412,402 | -42.3% |
| Income taxes | 67/77 | €219,513 | €130,220 | -€89,294 | -40.7% |
| Profit (loss) for the period | 9904 | €756,228 | €433,119 | -€323,109 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €756,228 | €433,119 | -€323,109 | -42.7% |
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 7 October 2026 via checked.be.