Bragg Gaming Group Inc. (BRAG) Balance Sheet

NASDAQ: BRAGAssets, liabilities, debt and equity over 10 years.

BRAG balance sheet, 2025

December 31, 2025 · euros

€99.1M assets = €36.6M liabilities + €62.5M equity

What it owns€99.1MCash & ST investments: €6.6M (6.7%)€6.6MReceivables: €21.1M (21.3%)Receivables€21.1M · 21%Other current: €3.9M (3.9%)PP&E: €5.2M (5.2%)Goodwill & intangibles: €61.5M (62.0%)Goodwill & intangibles€61.5M · 62%LT investments: €459,000 (0.5%)Other non-current: €402,817 (0.4%)=How it is financed€99.1MCurrent liabilities: €32.6M (32.9%)Current liabilities€32.6M · 33%Other LT liabilities: €3.9M (4.0%)Shareholders’ equity: €62.5M (63.1%)Shareholders’ equity€62.5M · 63%

Both columns are drawn to the same scale: what BRAG owns equals what it owes plus shareholders’ equity. Hover a block for its value.

BRAG financial health

Current ratio0.97
Tight · current assets cover current liabilities 0.97×
Debt / equity0.12
Low leverage · €0.12 of debt for each $1 of equity
Equity / assets63.1%
Equity-funded · of assets funded by shareholders
Cash / debt87.6%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles62.0%
Mostly intangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

BRAG balance sheet trends, 2016–2025

MetricTrendThenLatestChange
Total assets€1.2M2016€99.1M2025+63.2%/yr
Total liabilities€3.3M2016€36.6M2025+30.5%/yr
Shareholders’ equity−€2.1M2016€62.5M2025—
Cash & short-term investments€249,3382016€6.6M2025+44.0%/yr
Total debt€1.4M2016€7.6M2025+20.4%/yr
Net cash (debt)−€1.2M2016−€943,6082025+€228,928
Working capital−€2.1M2016−€1.0M2025+€1.1M
Current ratio0.3620160.972025+0.61
Debt / equity0.0220180.122025+0.10
Shares outstanding1.4M201625.3M2025+38.4%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

BRAG assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

BRAG liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

BRAG debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

BRAG balance sheet in euros

2025202420232022202120202019201820172016
Assets
Cash & short-term investments€6.6M€10.5M€8.8M€11.3M€16.0M€26.1M€682,000€8.6M€1.9M€249,338
Cash & equivalents€6.6M€10.5M€8.8M€11.3M€16.0M€26.1M€682,000€8.6M€1.9M€249,338
Short-term investments——€37,789€85,537€71,962—————
Receivables€21.1M€20.1M€18.6M€16.6M€8.5M€10.4M€6.2M€6.4M€1.3M€879,930
Inventory€0€0€1€1.7M€2.4M€249,000€1.1M€0€0€0
Other current assets€3.9M€2.6M€1.7M€128,000€20,000€14,000€333,000€287,542€296,317€59,540
Total current assets€31.6M€33.2M€29.1M€29.7M€27.0M€36.8M€8.3M€15.3M€3.4M€1.2M
Property, plant & equipment (net)€5.2M€4.9M€3.9M€1.2M€831,000€980,000€1.0M€292,226€84,682€20,155
Goodwill & intangible assets€61.5M€68.6M€70.1M€73.4M€55.6M€34.2M€34.5M€55.0M€6.9M€71,494
Long-term investments€459,000€0€0€0€0€0€0€0€0€0
Other non-current assets€402,817€0€348,000€47,000€28,000€87,000€38,000€170,340€2€0
Total assets€99.1M€106.6M€103.4M€104.4M€83.4M€72.1M€43.9M€70.7M€10.4M€1.2M
Liabilities
Accounts payable€9.1M€3.2M€7.5M€4.3M€1.5M€6.4M€5.1M€8.4M€1.3M€298,326
Short-term debt€4.9M€7.5M€3.2M€403,000€149,000€133,000€370,000€151,581—€1.4M
Deferred revenue——€913,061€746,000€27,000€102,000€14.0M——€62,085
Total current liabilities€32.6M€29.1M€27.9M€24.3M€15.3M€30.0M€20.8M€15.8M€1.3M€3.3M
Long-term debt€0€0€0€6.6M€0€0€0€0€0€0
Lease obligations€4.1M€3.7M€3.3M€638,000€600,000€726,000€859,000———
Other long-term liabilities€3.9M€4.0M€5.2M€3.9M€1.9M€2.2M€16.5M€30.1M€1.3M€307,948
Total liabilities€36.6M€33.1M€33.1M€34.9M€17.2M€32.2M€37.3M€45.9M€1.3M€3.3M
Shareholders' equity
Common stock & paid-in capital€133.6M€131.7M€120.0M€109.9M€100.3M€62.3M€40.2M€51.4M€23.2M€5.8M
Retained earnings (deficit)−€89.2M−€81.2M−€76.1M−€72.2M−€68.7M−€61.2M−€46.7M−€54.2M−€21.4M−€8.7M
Accumulated other comprehensive income€542,624€5.3M€2.9M€4.1M€2.5M−€150,000−€212,000€13.8M€93,387€28,313
Total shareholders' equity€62.5M€73.5M€69.9M€69.5M€66.2M€39.9M€6.6M€24.8M€9.1M−€2.1M
Key figures
Total debt€7.6M€10.3M€5.7M€7.4M€600,000€726,000€1.0M€586,016—€1.4M
Net cash (debt)−€943,608€191,000€3.1M€3.9M€15.4M€25.4M−€362,000€8.0M—−€1.2M
Working capital−€1.0M€4.0M€1.2M€5.4M€11.6M€6.8M−€12.5M−€556,327€2.1M−€2.1M
Tangible book value€1.1M€4.9M−€108,785−€3.8M€10.6M€5.7M−€27.9M−€30.2M€2.2M−€2.2M
Shares outstanding25.3M24.3M22.6M21.4M19.5M8.6M7.3M2.9M2.7M1.4M
Current ratio0.971.141.041.221.761.230.400.962.630.36
Quick ratio0.851.050.981.151.601.220.330.952.400.34
Debt / equity0.120.140.080.110.010.020.160.02——
Equity / assets63.1%69.0%67.7%66.6%79.4%55.3%15.1%35.1%87.4%−175.6%

Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed March 31, 2026); data from EODHD.

BRAG financial position

At the end of fiscal 2025 (December 31, 2025), Bragg Gaming had total assets of €99.1 million (down 7.0% from a year earlier), total liabilities of €36.6 million and shareholders' equity of €62.5 million. It held €6.6 million in cash and short-term investments against €7.6 million of debt, net debt of €0.9 million. Its current ratio was 0.97. In the latest quarter (ended June 30, 2026) total assets were €91.2 million and equity €59.4 million.

Related: BRAG income statement, BRAG cash flow statement, BRAG key metrics. See the BRAG stock overview for the latest quote and news.

BRAG balance sheet FAQ

What are Bragg Gaming's total assets?

Bragg Gaming reported total assets of €99.1 million at the end of fiscal 2025 (December 31, 2025), compared with €106.6 million a year earlier.

How much debt does Bragg Gaming have?

Bragg Gaming had €7.6 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.12.

How much cash does Bragg Gaming have?

Bragg Gaming held €6.6 million in cash and short-term investments at the end of fiscal 2025; with €7.6 million of debt that is net debt of €0.9 million.

What is Bragg Gaming's book value?

Bragg Gaming's shareholders' equity (book value) was €62.5 million at the end of fiscal 2025.

What is Bragg Gaming's current ratio?

Bragg Gaming had current assets of €31.6 million and current liabilities of €32.6 million, a current ratio of 0.97 (current liabilities exceed current assets).

How much goodwill does Bragg Gaming have?

Bragg Gaming carried €61.5 million of goodwill and intangible assets, 62.0% of total assets, at the end of fiscal 2025.

Gambling: balance sheet