B-CORE GROUP: what changed
Two fiscal 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-CORE GROUP
Largest movements
- Cash +€42,907
up €42,907 (+18.2%), from €235,515 to €278,422
mainly Other debts (+€149,622) and Net result for the year (+€98,543)
- Receivables within one year +€27,964
up €27,964 (+12.1%), from €230,443 to €258,407
of which Other amounts receivable: +€64,123
- Other debts +€149,622
up €149,622 (+1978.6%), from €7,562 to €157,184
- Reserves +€98,543
up €98,543 (+8.6%), from €1.1m to €1.2m
of which Distributable reserves: +€98,543
- Trade debts -€81,576
down €81,576 (-78.9%), from €103,419 to €21,843
- Current portion of long-term debt -€63,925
no longer reported in 2025 (was €63,925)
- Tax, wage and social debts -€41,718
down €41,718 (-94.0%), from €44,361 to €2,643
of which Taxes: -€41,718
- Gross operating margin -€462,009
down €462,009 (-75.6%), from €611,202 to €149,193
- Taxes -€124,987
down €124,987 (-75.6%), from €165,230 to €40,243
- Other operating charges -€23,966
down €23,966 (-95.9%), from €25,003 to €1,037
- Depreciation -€10,896
down €10,896 (-91.9%), from €11,857 to €961
- Staff costs -€6,227
no longer reported in 2025 (was €6,227)
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.
Cash bridge derived
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 | €1,383,988 | €1,445,733 | +€61,746 | +4.5% |
| Fixed assets | 21/28 | €918,030 | €908,904 | -€9,126 | -1.0% |
| Tangible fixed assets | 22/27 | €11,030 | €1,904 | -€9,126 | -82.7% |
| Plant, machinery and equipment | 23 | €9,143 | €489 | -€8,654 | -94.7% |
| Furniture and vehicles | 24 | €1,887 | €1,415 | -€472 | -25.0% |
| Financial fixed assets | 28 | €907,000 | €907,000 | = | 0.0% |
| Current assets | 29/58 | €465,958 | €536,829 | +€70,872 | +15.2% |
| Amounts receivable within one year | 40/41 | €230,443 | €258,407 | +€27,964 | +12.1% |
| Trade receivables | 40 | €167,343 | €131,184 | -€36,159 | -21.6% |
| Other amounts receivable | 41 | €63,100 | €127,223 | +€64,123 | +101.6% |
| Cash at bank and in hand | 54/58 | €235,515 | €278,422 | +€42,907 | +18.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,383,988 | €1,445,733 | +€61,746 | +4.5% |
| Equity | 10/15 | €1,164,720 | €1,263,262 | +€98,543 | +8.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,139,720 | €1,238,262 | +€98,543 | +8.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,139,720 | €1,238,262 | +€98,543 | +8.6% |
| Amounts payable | 17/49 | €219,268 | €182,471 | -€36,797 | -16.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €219,268 | €181,670 | -€37,597 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €63,925 | - | -€63,925 | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €103,419 | €21,843 | -€81,576 | -78.9% |
| Suppliers | 440/4 | €103,419 | €21,843 | -€81,576 | -78.9% |
| Taxes, remuneration and social security | 45 | €44,361 | €2,643 | -€41,718 | -94.0% |
| Taxes | 450/3 | €42,061 | €343 | -€41,718 | -99.2% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €7,562 | €157,184 | +€149,622 | +1978.6% |
| Accrued charges and deferred income | 492/3 | - | €801 | +€801 | |
| Non-recurring operating income | 76A | €13,698 | - | -€13,698 | |
| Remuneration, social security and pensions | 62 | €6,227 | - | -€6,227 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,857 | €961 | -€10,896 | -91.9% |
| Other operating charges | 640/8 | €25,003 | €1,037 | -€23,966 | -95.9% |
| Non-recurring operating charges | 66A | - | €8,165 | +€8,165 | |
| Gross operating margin | 9900 | €611,202 | €149,193 | -€462,009 | -75.6% |
| Operating profit (loss) | 9901 | €568,115 | €139,030 | -€429,085 | -75.5% |
| Financial income | 75/76B | €911 | €2,281 | +€1,370 | +150.5% |
| Recurring financial income | 75 | €911 | €2,281 | +€1,370 | +150.5% |
| Financial charges | 65/66B | €6,376 | €2,526 | -€3,850 | -60.4% |
| Recurring financial charges | 65 | €6,376 | €2,526 | -€3,850 | -60.4% |
| Profit (loss) for the period before taxes | 9903 | €562,650 | €138,785 | -€423,865 | -75.3% |
| Income taxes | 67/77 | €165,230 | €40,243 | -€124,987 | -75.6% |
| Profit (loss) for the period | 9904 | €397,420 | €98,543 | -€298,878 | -75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €397,420 | €98,543 | -€298,878 | -75.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.