BRM: what changed
What changed
BRM
filed annual accounts (NBB)
Net result for the year
-€3,272
2024 · €30,891-€34,164
Equity
€944,194
2024 · €947,467-€3,272
Cash
€334,805
2024 · €228,103+€106,701
Balance sheet total
€1.5m
2024 · €1.5m-€30,780
Largest movements
Assets
- Receivables within one year -€187,308
down €187,308 (-89.2%), from €209,900 to €22,592
- Cash +€106,701
up €106,701 (+46.8%), from €228,103 to €334,805
mainly Receivables within one year (+€187,308) and Depreciation (+€66,820)
- Current investments +€100,000
up €100,000 (+81,156%), from €123 to €100,123
- Tangible fixed assets -€51,268
down €51,268 (-4.9%), from €1.1m to €1.0m
Equity and liabilities
- Trade debts -€14,983
down €14,983 (-64.3%), from €23,292 to €8,309
Income statement
- Gross operating margin -€59,458
down €59,458 (-38.7%), from €153,650 to €94,191
- Depreciation -€12,129
down €12,129 (-15.4%), from €78,949 to €66,820
- Taxes -€11,667
down €11,667 (-58.1%), from €20,070 to €8,403
- Financial charges +€6,296
up €6,296 (+33.9%), from €18,588 to €24,884
- Financial income +€6,153
new in 2025: €6,153
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€30,891
Gross operating margin
-€59,458
Depreciation
+€12,129
Other operating charges
+€1,641
Financial income
+€6,153
Financial charges
-€6,296
Taxes
+€11,667
Result 2025
-€3,272
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€234,325
Investment
-€115,552
Financing
-€12,071
Cash 2024
€228,103
From operations (derived)
+€234,325
Net result for the year
-€3,272
Depreciation
+€66,820
Receivables within one year
+€187,308
Deferred charges and accrued income
-€1,094
Trade debts
-€14,983
Other debts
-€8,746
Accrued charges and deferred income
+€8,292
Investment (derived)
-€115,552
Investment in fixed assets (net)
-€15,552
Current investments
-€100,000
Financing
-€12,071
Debts after one year
-€12,533
Current portion of long-term debt
+€462
Cash 2025
€334,805
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,497,254 | €1,466,473 | -€30,780 | -2.1% |
| Fixed assets | 21/28 | €1,053,530 | €1,002,262 | -€51,268 | -4.9% |
| Tangible fixed assets | 22/27 | €1,053,312 | €1,002,044 | -€51,268 | -4.9% |
| Land and buildings | 22 | €852,425 | €828,572 | -€23,853 | -2.8% |
| Plant, machinery and equipment | 23 | €2,152 | €1,927 | -€225 | -10.5% |
| Furniture and vehicles | 24 | €112,038 | €100,274 | -€11,764 | -10.5% |
| Other tangible fixed assets | 26 | €86,697 | €71,272 | -€15,425 | -17.8% |
| Financial fixed assets | 28 | €217 | €217 | = | 0.0% |
| Current assets | 29/58 | €443,724 | €464,211 | +€20,487 | +4.6% |
| Amounts receivable within one year | 40/41 | €209,900 | €22,592 | -€187,308 | -89.2% |
| Other amounts receivable | 41 | €209,900 | €22,592 | -€187,308 | -89.2% |
| Current investments | 50/53 | €123 | €100,123 | +€100,000 | +81,156% |
| Cash at bank and in hand | 54/58 | €228,103 | €334,805 | +€106,701 | +46.8% |
| Deferred charges and accrued income | 490/1 | €5,598 | €6,691 | +€1,094 | +19.5% |
| Total equity and liabilities | 10/49 | €1,497,254 | €1,466,473 | -€30,780 | -2.1% |
| Equity | 10/15 | €947,467 | €944,194 | -€3,272 | -0.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | - | -€100,000 | |
| Issued capital | 100 | €100,000 | - | -€100,000 | |
| Reserves | 13 | €847,467 | €844,194 | -€3,272 | -0.4% |
| Non-distributable reserves | 130/1 | €81,657 | - | -€81,657 | |
| Legal reserve | 130 | €81,657 | - | -€81,657 | |
| Tax-exempt reserves | 132 | €55,680 | €37,675 | -€18,005 | -32.3% |
| Distributable reserves | 133 | €710,130 | €806,520 | +€96,390 | +13.6% |
| Amounts payable | 17/49 | €549,787 | €522,279 | -€27,508 | -5.0% |
| Amounts payable after more than one year | 17 | €129,119 | €116,586 | -€12,533 | -9.7% |
| Financial debts | 170/4 | €129,119 | €116,586 | -€12,533 | -9.7% |
| Amounts payable within one year | 42/48 | €400,805 | €377,537 | -€23,268 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €16,160 | €16,622 | +€462 | +2.9% |
| Trade debts | 44 | €23,292 | €8,309 | -€14,983 | -64.3% |
| Suppliers | 440/4 | €23,292 | €8,309 | -€14,983 | -64.3% |
| Other amounts payable | 47/48 | €361,353 | €352,606 | -€8,746 | -2.4% |
| Accrued charges and deferred income | 492/3 | €19,863 | €28,155 | +€8,292 | +41.7% |
| Non-recurring operating income | 76A | €7,260 | - | -€7,260 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,949 | €66,820 | -€12,129 | -15.4% |
| Other operating charges | 640/8 | €5,151 | €3,510 | -€1,641 | -31.9% |
| Gross operating margin | 9900 | €153,650 | €94,191 | -€59,458 | -38.7% |
| Operating profit (loss) | 9901 | €69,550 | €23,862 | -€45,688 | -65.7% |
| Financial income | 75/76B | - | €6,153 | +€6,153 | |
| Recurring financial income | 75 | - | €6,153 | +€6,153 | |
| Financial charges | 65/66B | €18,588 | €24,884 | +€6,296 | +33.9% |
| Recurring financial charges | 65 | €18,588 | €24,884 | +€6,296 | +33.9% |
| Profit (loss) for the period before taxes | 9903 | €50,962 | €5,130 | -€45,831 | -89.9% |
| Income taxes | 67/77 | €20,070 | €8,403 | -€11,667 | -58.1% |
| Profit (loss) for the period | 9904 | €30,891 | -€3,272 | -€34,164 | |
| Transfer from tax-exempt reserves | 789 | €24,009 | €18,005 | -€6,003 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,900 | €14,733 | -€40,167 | -73.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.