This Paper presents an example of a quantitative determination of the risk of damage from flooding to residential buildings. The location of Mali Zvornik is analysed. Data such as location, altitude and cross area of buildings had been previously processed by software Quantum GIS (QGIS). Damage to buildings was calculated by using the empirical formula that was developed in this study (and which includes also the data on number of stories in buildings), and by using the empirical hazard curve that was developed based on the improved data basis on floods. The damages for certain maximum water levels were calculated, as well as the risk curve that connects the overall damage to residential buildings and return periods of floods. Finally, the ALARP diagrams were created by taking into account the estimated hazard levels and number of residents.