Godzilla and Balrog are both immensely powerful creatures. Balrog was initially not a giant, but the films decided to switch that up which gives Godzilla a decent fight. Balrog has a few powerful fore techniques and his fire sword would deal a great amount of damage to the Kaiju. For now I’ll say that Godzilla still has the edge here though. His Atomic Ray is nothing to sneeze at and Godzilla has been wrecking his opponents with his superior boxing skills for some time now. He won’t go down very easily and also has his Burning Godzilla form to fall back on. Godzilla wins.