B.M.D.: 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.M.D.
Largest movements
- Cash +€8,172
up €8,172 (+39.3%), from €20,808 to €28,980
mainly Net result for the year (+€14,040) and Receivables within one year (+€5,530)
- Receivables within one year -€5,530
down €5,530 (-6.3%), from €87,797 to €82,267
of which Trade receivables: -€11,288
- Reserves +€14,040
up €14,040 (+151.0%), from €9,298 to €23,338
of which Distributable reserves: +€14,040
- Trade debts -€13,570
down €13,570 (-45.7%), from €29,710 to €16,140
- Tax, wage and social debts +€1,731
up €1,731 (+20.6%), from €8,421 to €10,152
- Taxes -€6,219
down €6,219 (-76.1%), from €8,176 to €1,957
- Gross operating margin +€391
up €391 (+2.8%), from €13,927 to €14,318
- Financial income -€286
down €286 (-7.9%), from €3,639 to €3,353
- Other operating charges -€272
down €272 (-26.8%), from €1,014 to €742
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 | €109,944 | €112,146 | +€2,202 | +2.0% |
| Fixed assets | 21/28 | €564 | €124 | -€440 | -78.0% |
| Tangible fixed assets | 22/27 | €564 | €124 | -€440 | -78.0% |
| Plant, machinery and equipment | 23 | €564 | €124 | -€440 | -78.0% |
| Current assets | 29/58 | €109,380 | €112,022 | +€2,642 | +2.4% |
| Stocks and contracts in progress | 3 | €775 | €775 | = | 0.0% |
| Stocks | 30/36 | €775 | €775 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €87,797 | €82,267 | -€5,530 | -6.3% |
| Trade receivables | 40 | €26,565 | €15,277 | -€11,288 | -42.5% |
| Other amounts receivable | 41 | €61,232 | €66,990 | +€5,758 | +9.4% |
| Cash at bank and in hand | 54/58 | €20,808 | €28,980 | +€8,172 | +39.3% |
| Total equity and liabilities | 10/49 | €109,944 | €112,146 | +€2,202 | +2.0% |
| Equity | 10/15 | €71,429 | €85,469 | +€14,040 | +19.7% |
| Contributions | 10/11 | €6,092 | €6,092 | = | 0.0% |
| Reserves | 13 | €9,298 | €23,338 | +€14,040 | +151.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €7,439 | €21,479 | +€14,040 | +188.7% |
| Profit (loss) carried forward | 14 | €56,039 | €56,039 | = | 0.0% |
| Amounts payable | 17/49 | €38,515 | €26,677 | -€11,838 | -30.7% |
| Amounts payable within one year | 42/48 | €38,131 | €26,292 | -€11,839 | -31.0% |
| Trade debts | 44 | €29,710 | €16,140 | -€13,570 | -45.7% |
| Suppliers | 440/4 | €29,710 | €16,140 | -€13,570 | -45.7% |
| Taxes, remuneration and social security | 45 | €8,421 | €10,152 | +€1,731 | +20.6% |
| Taxes | 450/3 | €8,421 | €10,152 | +€1,731 | +20.6% |
| Accrued charges and deferred income | 492/3 | €384 | €385 | +€1 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €440 | €440 | = | 0.0% |
| Other operating charges | 640/8 | €1,014 | €742 | -€272 | -26.8% |
| Gross operating margin | 9900 | €13,927 | €14,318 | +€391 | +2.8% |
| Operating profit (loss) | 9901 | €12,473 | €13,136 | +€663 | +5.3% |
| Financial income | 75/76B | €3,639 | €3,353 | -€286 | -7.9% |
| Recurring financial income | 75 | €3,639 | €3,353 | -€286 | -7.9% |
| Financial charges | 65/66B | €497 | €492 | -€5 | -1.0% |
| Recurring financial charges | 65 | €497 | €492 | -€5 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €15,615 | €15,997 | +€382 | +2.4% |
| Income taxes | 67/77 | €8,176 | €1,957 | -€6,219 | -76.1% |
| Profit (loss) for the period | 9904 | €7,439 | €14,040 | +€6,601 | +88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,439 | €14,040 | +€6,601 | +88.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.