B.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.M.
Largest movements
- Receivables within one year +€99,889
up €99,889 (+1,241%), from €8,049 to €107,938
of which Trade receivables: +€95,871
- Tangible fixed assets +€18,988
up €18,988 (+41.6%), from €45,680 to €64,668
of which Furniture and vehicles: +€20,434
- Deferred charges and accrued income +€4,405
up €4,405 (+124%), from €3,550 to €7,955
- Cash -€4,128
down €4,128 (-13.0%), from €31,833 to €27,705
mainly Receivables within one year (-€99,889) and Investment in fixed assets (net) (-€34,433)
- Debts after one year +€46,374
up €46,374 (+92.5%), from €50,135 to €96,509
- Profit (loss) carried forward +€32,979
up €32,979 (+89.9%), from -€36,673 to -€3,694
- Current portion of long-term debt +€23,933
new in 2025: €23,933
- Trade debts +€17,952
up €17,952 (+179%), from €10,024 to €27,975
- Other debts -€4,234
down €4,234 (-18.0%), from €23,557 to €19,322
- Gross operating margin +€89,726
up €89,726, from -€28,690 to €61,035
- Depreciation +€8,429
up €8,429 (+120%), from €7,017 to €15,446
- Staff costs +€5,717
new in 2025: €5,717
- Financial charges +€3,273
up €3,273 (+738%), from €443 to €3,716
- Other operating charges +€2,516
up €2,516 (+355%), from €709 to €3,225
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 | €95,412 | €214,567 | +€119,155 | +125% |
| Fixed assets | 21/28 | €51,980 | €70,968 | +€18,988 | +36.5% |
| Tangible fixed assets | 22/27 | €45,680 | €64,668 | +€18,988 | +41.6% |
| Land and buildings | 22 | €1,467 | €1,318 | -€150 | -10.2% |
| Plant, machinery and equipment | 23 | €3,843 | €2,547 | -€1,296 | -33.7% |
| Furniture and vehicles | 24 | €40,370 | €60,804 | +€20,434 | +50.6% |
| Financial fixed assets | 28 | €6,300 | €6,300 | = | 0.0% |
| Current assets | 29/58 | €43,432 | €143,599 | +€100,167 | +231% |
| Amounts receivable within one year | 40/41 | €8,049 | €107,938 | +€99,889 | +1,241% |
| Trade receivables | 40 | €2,057 | €97,928 | +€95,871 | +4,660% |
| Other amounts receivable | 41 | €5,992 | €10,010 | +€4,019 | +67.1% |
| Cash at bank and in hand | 54/58 | €31,833 | €27,705 | -€4,128 | -13.0% |
| Deferred charges and accrued income | 490/1 | €3,550 | €7,955 | +€4,405 | +124% |
| Total equity and liabilities | 10/49 | €95,412 | €214,567 | +€119,155 | +125% |
| Equity | 10/15 | €9,455 | €42,433 | +€32,979 | +349% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,128 | €43,128 | = | 0.0% |
| Distributable reserves | 133 | €43,128 | €43,128 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,673 | -€3,694 | +€32,979 | +89.9% |
| Amounts payable | 17/49 | €85,957 | €172,133 | +€86,176 | +100% |
| Amounts payable after more than one year | 17 | €50,135 | €96,509 | +€46,374 | +92.5% |
| Financial debts | 170/4 | €50,135 | €96,509 | +€46,374 | +92.5% |
| Amounts payable within one year | 42/48 | €35,741 | €75,624 | +€39,883 | +112% |
| Current portion of amounts payable after more than one year | 42 | - | €23,933 | +€23,933 | |
| Trade debts | 44 | €10,024 | €27,975 | +€17,952 | +179% |
| Suppliers | 440/4 | €10,024 | €27,975 | +€17,952 | +179% |
| Taxes, remuneration and social security | 45 | €2,160 | €4,394 | +€2,233 | +103% |
| Taxes | 450/3 | €0 | €2,565 | +€2,565 | |
| Remuneration and social security | 454/9 | €2,160 | €1,829 | -€332 | -15.4% |
| Other amounts payable | 47/48 | €23,557 | €19,322 | -€4,234 | -18.0% |
| Accrued charges and deferred income | 492/3 | €82 | €0 | -€82 | -100% |
| Remuneration, social security and pensions | 62 | - | €5,717 | +€5,717 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,017 | €15,446 | +€8,429 | +120% |
| Other operating charges | 640/8 | €709 | €3,225 | +€2,516 | +355% |
| Gross operating margin | 9900 | -€28,690 | €61,035 | +€89,726 | |
| Operating profit (loss) | 9901 | -€36,416 | €36,648 | +€73,064 | |
| Financial income | 75/76B | €187 | €47 | -€140 | -74.8% |
| Recurring financial income | 75 | €187 | €47 | -€140 | -74.8% |
| Financial charges | 65/66B | €443 | €3,716 | +€3,273 | +738% |
| Recurring financial charges | 65 | €443 | €3,716 | +€3,273 | +738% |
| Profit (loss) for the period before taxes | 9903 | -€36,673 | €32,979 | +€69,651 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€36,673 | €32,979 | +€69,651 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,673 | €32,979 | +€69,651 |
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 21 October 2026 via checked.be.