b.factory: 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.factory
Largest movements
- Stocks and contracts +€139,890
up €139,890 (+31.6%), from €442,335 to €582,225
- Cash -€36,778
down €36,778 (-43.8%), from €84,051 to €47,273
mainly Stocks and contracts (-€139,890) and Short-term financial debts (-€43,385)
- Receivables within one year -€27,427
down €27,427 (-8.1%), from €337,129 to €309,703
of which Trade receivables: -€24,746
- Deferred charges and accrued income -€25,196
down €25,196 (-23.8%), from €106,022 to €80,825
- Reserves +€56,007
up €56,007 (+160%), from €34,990 to €90,997
- Short-term financial debts -€43,385
down €43,385 (-20.8%), from €208,307 to €164,922
- Trade debts +€24,954
up €24,954 (+5.2%), from €479,051 to €504,005
- Staff costs +€35,780
new in 2025: €35,780
- Financial income +€24,505
up €24,505 (+390%), from €6,285 to €30,789
- Gross operating margin -€13,341
down €13,341 (-8.5%), from €156,120 to €142,780
- Other operating charges +€9,226
up €9,226 (+607%), from €1,519 to €10,745
- Write-downs -€7,070
down €7,070 (-100%), from €7,070 to €0
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 | €1,033,502 | €1,089,107 | +€55,605 | +5.4% |
| Fixed assets | 21/28 | €63,965 | €69,081 | +€5,116 | +8.0% |
| Intangible fixed assets | 21 | €10,230 | €13,535 | +€3,305 | +32.3% |
| Tangible fixed assets | 22/27 | €53,735 | €55,546 | +€1,811 | +3.4% |
| Plant, machinery and equipment | 23 | €20,037 | €30,094 | +€10,057 | +50.2% |
| Furniture and vehicles | 24 | €6,372 | €7,350 | +€978 | +15.3% |
| Leasing and similar rights | 25 | €25,059 | €16,566 | -€8,492 | -33.9% |
| Other tangible fixed assets | 26 | €2,267 | €1,536 | -€731 | -32.2% |
| Current assets | 29/58 | €969,537 | €1,020,026 | +€50,489 | +5.2% |
| Stocks and contracts in progress | 3 | €442,335 | €582,225 | +€139,890 | +31.6% |
| Stocks | 30/36 | €442,335 | €582,225 | +€139,890 | +31.6% |
| Amounts receivable within one year | 40/41 | €337,129 | €309,703 | -€27,427 | -8.1% |
| Trade receivables | 40 | €320,901 | €296,155 | -€24,746 | -7.7% |
| Other amounts receivable | 41 | €16,228 | €13,547 | -€2,681 | -16.5% |
| Cash at bank and in hand | 54/58 | €84,051 | €47,273 | -€36,778 | -43.8% |
| Deferred charges and accrued income | 490/1 | €106,022 | €80,825 | -€25,196 | -23.8% |
| Total equity and liabilities | 10/49 | €1,033,502 | €1,089,107 | +€55,605 | +5.4% |
| Equity | 10/15 | €291,990 | €347,997 | +€56,007 | +19.2% |
| Contributions | 10/11 | €257,000 | €257,000 | = | 0.0% |
| Reserves | 13 | €34,990 | €90,997 | +€56,007 | +160% |
| Distributable reserves | 133 | €34,990 | €90,997 | +€56,007 | +160% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €741,511 | €741,110 | -€402 | -0.1% |
| Amounts payable after more than one year | 17 | €31,859 | €30,215 | -€1,644 | -5.2% |
| Financial debts | 170/4 | €31,859 | €30,215 | -€1,644 | -5.2% |
| Amounts payable within one year | 42/48 | €706,736 | €709,081 | +€2,345 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €12,769 | €16,072 | +€3,303 | +25.9% |
| Financial debts | 43 | €208,307 | €164,922 | -€43,385 | -20.8% |
| Credit institutions | 430/8 | €208,307 | €164,922 | -€43,385 | -20.8% |
| Trade debts | 44 | €479,051 | €504,005 | +€24,954 | +5.2% |
| Suppliers | 440/4 | €479,051 | €504,005 | +€24,954 | +5.2% |
| Advances received on contracts in progress | 46 | - | €9,188 | +€9,188 | |
| Taxes, remuneration and social security | 45 | €1,106 | €9,485 | +€8,378 | +757% |
| Taxes | 450/3 | €946 | €9,485 | +€8,538 | +902% |
| Remuneration and social security | 454/9 | €160 | €0 | -€160 | -100% |
| Other amounts payable | 47/48 | €5,503 | €5,410 | -€93 | -1.7% |
| Accrued charges and deferred income | 492/3 | €2,916 | €1,814 | -€1,102 | -37.8% |
| Non-recurring operating income | 76A | €245 | €668 | +€423 | +173% |
| Remuneration, social security and pensions | 62 | - | €35,780 | +€35,780 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,922 | €22,453 | +€2,531 | +12.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,070 | €0 | -€7,070 | -100% |
| Other operating charges | 640/8 | €1,519 | €10,745 | +€9,226 | +607% |
| Non-recurring operating charges | 66A | €0 | €8,852 | +€8,852 | |
| Gross operating margin | 9900 | €156,120 | €142,780 | -€13,341 | -8.5% |
| Operating profit (loss) | 9901 | €127,609 | €64,949 | -€62,660 | -49.1% |
| Financial income | 75/76B | €6,285 | €30,789 | +€24,505 | +390% |
| Recurring financial income | 75 | €6,285 | €30,789 | +€24,505 | +390% |
| Financial charges | 65/66B | €28,644 | €23,615 | -€5,029 | -17.6% |
| Recurring financial charges | 65 | €28,644 | €23,615 | -€5,029 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €105,249 | €72,124 | -€33,126 | -31.5% |
| Income taxes | 67/77 | €15,010 | €16,117 | +€1,107 | +7.4% |
| Profit (loss) for the period | 9904 | €90,239 | €56,007 | -€34,232 | -37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90,239 | €56,007 | -€34,232 | -37.9% |
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 20 October 2026 via checked.be.