B en M: 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 en M
Largest movements
- Receivables after one year +€9.3m
new in 2025: €9.3m
- Receivables within one year -€9.1m
down €9.1m (-100%), from €9.1m to €0
of which Other amounts receivable: -€9.1m
- Cash -€136,059
down €136,059 (-72.5%), from €187,765 to €51,706
mainly Receivables after one year (-€9.3m) and Investment in fixed assets (net) (-€158,488)
- Tangible fixed assets +€113,434
up €113,434 (+16.7%), from €680,806 to €794,241
of which Land and buildings: +€113,434
No liability line moved by more than 1% of the balance sheet total.
- Turnover -€986,424
down €986,424 (-44.1%), from €2.2m to €1.2m
- Services and other goods -€672,203
down €672,203 (-35.8%), from €1.9m to €1.2m
- Other operating charges -€97,975
down €97,975 (-96.9%), from €101,089 to €3,114
- Financial income +€73,045
new in 2025: €73,045
- Taxes -€46,722
down €46,722 (-52.6%), from €88,885 to €42,163
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 | €10,299,904 | €10,462,956 | +€163,052 | +1.6% |
| Fixed assets | 21/28 | €962,806 | €1,076,241 | +€113,434 | +11.8% |
| Tangible fixed assets | 22/27 | €680,806 | €794,241 | +€113,434 | +16.7% |
| Land and buildings | 22 | €680,806 | €794,241 | +€113,434 | +16.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €282,000 | €282,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €282,000 | €282,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €282,000 | €282,000 | = | 0.0% |
| Current assets | 29/58 | €9,337,098 | €9,386,716 | +€49,618 | +0.5% |
| Amounts receivable after more than one year | 29 | - | €9,333,867 | +€9.3m | |
| Other amounts receivable | 291 | - | €9,333,867 | +€9.3m | |
| Amounts receivable within one year | 40/41 | €9,149,333 | €0 | -€9.1m | -100% |
| Trade receivables | 40 | €20,958 | €0 | -€20,958 | -100% |
| Other amounts receivable | 41 | €9,128,375 | €0 | -€9.1m | -100% |
| Cash at bank and in hand | 54/58 | €187,765 | €51,706 | -€136,059 | -72.5% |
| Deferred charges and accrued income | 490/1 | €0 | €1,142 | +€1,142 | +317,183% |
| Total equity and liabilities | 10/49 | €10,299,904 | €10,462,956 | +€163,052 | +1.6% |
| Equity | 10/15 | €9,703,882 | €9,806,985 | +€103,103 | +1.1% |
| Contributions | 10/11 | €1,854,618 | €1,854,618 | = | 0.0% |
| Capital | 10 | €1,854,618 | €1,854,618 | = | 0.0% |
| Issued capital | 100 | €1,854,618 | €1,854,618 | = | 0.0% |
| Revaluation surpluses | 12 | €465,984 | €465,984 | = | 0.0% |
| Reserves | 13 | €213,269 | €213,269 | = | 0.0% |
| Non-distributable reserves | 130/1 | €185,462 | €185,462 | = | 0.0% |
| Legal reserve | 130 | €185,462 | €185,462 | = | 0.0% |
| Distributable reserves | 133 | €27,807 | €27,807 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,170,011 | €7,273,114 | +€103,103 | +1.4% |
| Provisions and deferred taxes | 16 | €286,006 | €286,006 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €286,006 | €286,006 | = | 0.0% |
| Other liabilities and charges | 164/5 | €286,006 | €286,006 | = | 0.0% |
| Amounts payable | 17/49 | €310,016 | €369,965 | +€59,949 | +19.3% |
| Amounts payable within one year | 42/48 | €310,016 | €369,965 | +€59,949 | +19.3% |
| Trade debts | 44 | €114,164 | €115,348 | +€1,184 | +1.0% |
| Suppliers | 440/4 | €114,164 | €115,348 | +€1,184 | +1.0% |
| Taxes, remuneration and social security | 45 | €0 | €12,896 | +€12,896 | |
| Taxes | 450/3 | €0 | €12,896 | +€12,896 | |
| Other amounts payable | 47/48 | €195,853 | €241,721 | +€45,868 | +23.4% |
| Operating income | 70/76A | €2,317,583 | €1,327,980 | -€989,603 | -42.7% |
| Turnover | 70 | €2,234,485 | €1,248,061 | -€986,424 | -44.1% |
| Other operating income | 74 | €83,098 | €79,918 | -€3,179 | -3.8% |
| Operating charges | 60/66A | €2,019,567 | €1,254,161 | -€765,406 | -37.9% |
| Services and other goods | 61 | €1,878,196 | €1,205,993 | -€672,203 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,281 | €45,053 | +€4,772 | +11.8% |
| Other operating charges | 640/8 | €101,089 | €3,114 | -€97,975 | -96.9% |
| Operating profit (loss) | 9901 | €298,016 | €73,819 | -€224,198 | -75.2% |
| Financial income | 75/76B | - | €73,045 | +€73,045 | |
| Recurring financial income | 75 | - | €73,045 | +€73,045 | |
| Income from current assets | 751 | - | €73,045 | +€73,045 | |
| Financial charges | 65/66B | €35,777 | €1,597 | -€34,181 | -95.5% |
| Recurring financial charges | 65 | €35,777 | €1,597 | -€34,181 | -95.5% |
| Other financial charges | 652/9 | €35,777 | €1,597 | -€34,181 | -95.5% |
| Profit (loss) for the period before taxes | 9903 | €262,239 | €145,267 | -€116,972 | -44.6% |
| Income taxes | 67/77 | €88,885 | €42,163 | -€46,722 | -52.6% |
| Taxes | 670/3 | €88,885 | €42,163 | -€46,722 | -52.6% |
| Profit (loss) for the period | 9904 | €173,354 | €103,103 | -€70,251 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €173,354 | €103,103 | -€70,251 | -40.5% |
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 29 October 2026 via checked.be.