B-M Projects: 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 Projects
Largest movements
- Cash +€355,896
up €355,896 (+225.5%), from €157,847 to €513,744
mainly Current investments (+€225,188) and Net result for the year (+€134,957)
- Current investments -€225,188
down €225,188 (-75.0%), from €300,188 to €75,000
- Receivables within one year +€45,865
up €45,865 (+119.4%), from €38,421 to €84,286
of which Trade receivables: +€77,973
- Tangible fixed assets -€23,252
down €23,252 (-16.0%), from €145,706 to €122,454
of which Furniture and vehicles: -€29,054
- Reserves +€134,000
up €134,000 (+28.2%), from €474,700 to €608,700
- Trade debts +€13,107
up €13,107 (+346.0%), from €3,788 to €16,894
- Tax, wage and social debts +€9,760
up €9,760 (+108.2%), from €9,022 to €18,782
- Gross operating margin +€10,631
up €10,631 (+4.9%), from €217,092 to €227,724
- Depreciation +€7,582
up €7,582 (+22.1%), from €34,325 to €41,907
- Financial income +€7,532
up €7,532 (+4972.4%), from €151 to €7,683
- Taxes +€3,337
up €3,337 (+6.2%), from €53,634 to €56,971
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 | €642,161 | €799,986 | +€157,825 | +24.6% |
| Fixed assets | 21/28 | €145,706 | €122,454 | -€23,252 | -16.0% |
| Tangible fixed assets | 22/27 | €145,706 | €122,454 | -€23,252 | -16.0% |
| Plant, machinery and equipment | 23 | €29,226 | €35,028 | +€5,802 | +19.9% |
| Furniture and vehicles | 24 | €116,480 | €87,426 | -€29,054 | -24.9% |
| Current assets | 29/58 | €496,455 | €677,531 | +€181,076 | +36.5% |
| Amounts receivable within one year | 40/41 | €38,421 | €84,286 | +€45,865 | +119.4% |
| Trade receivables | 40 | €6,312 | €84,286 | +€77,973 | +1235.3% |
| Other amounts receivable | 41 | €32,108 | - | -€32,108 | |
| Current investments | 50/53 | €300,188 | €75,000 | -€225,188 | -75.0% |
| Cash at bank and in hand | 54/58 | €157,847 | €513,744 | +€355,896 | +225.5% |
| Deferred charges and accrued income | 490/1 | - | €4,502 | +€4,502 | |
| Total equity and liabilities | 10/49 | €642,161 | €799,986 | +€157,825 | +24.6% |
| Equity | 10/15 | €629,352 | €764,309 | +€134,957 | +21.4% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €474,700 | €608,700 | +€134,000 | +28.2% |
| Distributable reserves | 133 | €474,700 | €608,700 | +€134,000 | +28.2% |
| Profit (loss) carried forward | 14 | €29,652 | €30,609 | +€957 | +3.2% |
| Amounts payable | 17/49 | €12,809 | €35,676 | +€22,867 | +178.5% |
| Amounts payable within one year | 42/48 | €12,809 | €35,676 | +€22,867 | +178.5% |
| Trade debts | 44 | €3,788 | €16,894 | +€13,107 | +346.0% |
| Suppliers | 440/4 | €3,788 | €16,894 | +€13,107 | +346.0% |
| Taxes, remuneration and social security | 45 | €9,022 | €18,782 | +€9,760 | +108.2% |
| Taxes | 450/3 | €9,022 | €18,782 | +€9,760 | +108.2% |
| Non-recurring operating income | 76A | €50 | - | -€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,325 | €41,907 | +€7,582 | +22.1% |
| Other operating charges | 640/8 | €1,065 | €1,344 | +€279 | +26.2% |
| Gross operating margin | 9900 | €217,092 | €227,724 | +€10,631 | +4.9% |
| Operating profit (loss) | 9901 | €181,702 | €184,473 | +€2,771 | +1.5% |
| Financial income | 75/76B | €151 | €7,683 | +€7,532 | +4972.4% |
| Recurring financial income | 75 | €151 | €7,683 | +€7,532 | +4972.4% |
| Financial charges | 65/66B | €796 | €228 | -€569 | -71.4% |
| Recurring financial charges | 65 | €796 | €228 | -€569 | -71.4% |
| Profit (loss) for the period before taxes | 9903 | €181,057 | €191,929 | +€10,871 | +6.0% |
| Income taxes | 67/77 | €53,634 | €56,971 | +€3,337 | +6.2% |
| Profit (loss) for the period | 9904 | €127,423 | €134,957 | +€7,534 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €127,423 | €134,957 | +€7,534 | +5.9% |
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 4 October 2026 via checked.be.