B ASSOCIATES: what changed
Two financial 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.
B ASSOCIATES
Largest movements
- Receivables within one year +€75,236
up €75,236 (+357%), from €21,093 to €96,329
of which Trade receivables: +€75,332
- Intangible fixed assets -€34,000
down €34,000 (-11.4%), from €297,500 to €263,500
- Tangible fixed assets +€33,562
up €33,562 (+24.7%), from €135,966 to €169,528
of which Furniture and vehicles: +€26,334
- Reserves +€60,000
up €60,000 (+70.6%), from €85,000 to €145,000
- Current portion of long-term debt +€30,286
up €30,286 (+180%), from €16,787 to €47,073
- Debts after one year -€18,471
down €18,471 (-4.8%), from €387,948 to €369,478
of which Other amounts payable: -€29,801
- Gross operating margin +€22,934
up €22,934 (+9.4%), from €244,328 to €267,262
- Staff costs +€10,142
up €10,142 (+10.8%), from €94,304 to €104,446
- Other operating charges +€8,853
up €8,853 (+1,171%), from €756 to €9,609
- Depreciation +€4,823
up €4,823 (+9.2%), from €52,319 to €57,142
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.
Derived cash bridge
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 | €512,353 | €587,467 | +€75,114 | +14.7% |
| Fixed assets | 21/28 | €433,466 | €433,028 | -€438 | -0.1% |
| Intangible fixed assets | 21 | €297,500 | €263,500 | -€34,000 | -11.4% |
| Tangible fixed assets | 22/27 | €135,966 | €169,528 | +€33,562 | +24.7% |
| Plant, machinery and equipment | 23 | €18,920 | €25,067 | +€6,147 | +32.5% |
| Furniture and vehicles | 24 | €40,059 | €66,393 | +€26,334 | +65.7% |
| Other tangible fixed assets | 26 | €76,987 | €78,067 | +€1,080 | +1.4% |
| Current assets | 29/58 | €78,886 | €154,439 | +€75,553 | +95.8% |
| Amounts receivable within one year | 40/41 | €21,093 | €96,329 | +€75,236 | +357% |
| Trade receivables | 40 | €19,693 | €95,025 | +€75,332 | +383% |
| Other amounts receivable | 41 | €1,400 | €1,304 | -€96 | -6.8% |
| Cash at bank and in hand | 54/58 | €45,165 | €47,151 | +€1,986 | +4.4% |
| Deferred charges and accrued income | 490/1 | €12,628 | €10,958 | -€1,670 | -13.2% |
| Total equity and liabilities | 10/49 | €512,353 | €587,467 | +€75,114 | +14.7% |
| Equity | 10/15 | €92,450 | €152,978 | +€60,528 | +65.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €85,000 | €145,000 | +€60,000 | +70.6% |
| Distributable reserves | 133 | €85,000 | €145,000 | +€60,000 | +70.6% |
| Profit (loss) carried forward | 14 | €1,450 | €1,978 | +€528 | +36.4% |
| Amounts payable | 17/49 | €419,902 | €434,489 | +€14,587 | +3.5% |
| Amounts payable after more than one year | 17 | €387,948 | €369,478 | -€18,471 | -4.8% |
| Financial debts | 170/4 | €117,072 | €128,402 | +€11,331 | +9.7% |
| Other amounts payable | 178/9 | €270,876 | €241,075 | -€29,801 | -11.0% |
| Amounts payable within one year | 42/48 | €31,954 | €65,011 | +€33,057 | +103% |
| Current portion of amounts payable after more than one year | 42 | €16,787 | €47,073 | +€30,286 | +180% |
| Trade debts | 44 | €1,047 | €2,792 | +€1,745 | +167% |
| Suppliers | 440/4 | €1,047 | €2,792 | +€1,745 | +167% |
| Taxes, remuneration and social security | 45 | €14,120 | €15,146 | +€1,026 | +7.3% |
| Taxes | 450/3 | €5,286 | €4,376 | -€910 | -17.2% |
| Remuneration and social security | 454/9 | €8,834 | €10,770 | +€1,936 | +21.9% |
| Non-recurring operating income | 76A | - | €14,215 | +€14,215 | |
| Remuneration, social security and pensions | 62 | €94,304 | €104,446 | +€10,142 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,319 | €57,142 | +€4,823 | +9.2% |
| Other operating charges | 640/8 | €756 | €9,609 | +€8,853 | +1,171% |
| Non-recurring operating charges | 66A | €286 | €90 | -€196 | -68.5% |
| Gross operating margin | 9900 | €244,328 | €267,262 | +€22,934 | +9.4% |
| Operating profit (loss) | 9901 | €96,663 | €95,974 | -€689 | -0.7% |
| Financial charges | 65/66B | €6,502 | €6,778 | +€276 | +4.3% |
| Recurring financial charges | 65 | €6,502 | €6,778 | +€276 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €90,161 | €89,196 | -€965 | -1.1% |
| Income taxes | 67/77 | €28,600 | €28,668 | +€68 | +0.2% |
| Profit (loss) for the period | 9904 | €61,561 | €60,528 | -€1,033 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €61,561 | €60,528 | -€1,033 | -1.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.