B-MAR: 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-MAR
Largest movements
- Receivables within one year +€83,556
up €83,556 (+12.9%), from €650,110 to €733,666
of which Other amounts receivable: +€212,874
- Cash +€26,284
up €26,284 (+78.6%), from €33,432 to €59,716
mainly Trade debts (+€385,124) and Other debts (+€368,079)
- Profit (loss) carried forward -€687,521
down €687,521, from €473,430 to -€214,091
- Trade debts +€385,124
up €385,124 (+165.0%), from €233,430 to €618,554
- Other debts +€368,079
up €368,079 (+1809.6%), from €20,340 to €388,419
- Advances received +€35,000
up €35,000 (+41.2%), from €85,000 to €120,000
- Tax, wage and social debts +€14,657
up €14,657 (+8.0%), from €183,125 to €197,782
of which Remuneration and social security: +€12,585
- Gross operating margin -€393,274
down €393,274 (-26.4%), from €1.5m to €1.1m
- Write-downs -€205,698
down €205,698, from €178,520 to -€27,178
- Staff costs +€159,044
up €159,044 (+13.6%), from €1.2m to €1.3m
- Taxes -€26,568
down €26,568 (-83.2%), from €31,937 to €5,368
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 | €1,003,385 | €1,118,723 | +€115,338 | +11.5% |
| Fixed assets | 21/28 | €316,150 | €312,641 | -€3,508 | -1.1% |
| Tangible fixed assets | 22/27 | €5,490 | €1,982 | -€3,508 | -63.9% |
| Furniture and vehicles | 24 | €4,035 | €792 | -€3,243 | -80.4% |
| Other tangible fixed assets | 26 | €1,456 | €1,190 | -€266 | -18.2% |
| Financial fixed assets | 28 | €310,659 | €310,659 | = | 0.0% |
| Current assets | 29/58 | €687,236 | €806,082 | +€118,846 | +17.3% |
| Amounts receivable within one year | 40/41 | €650,110 | €733,666 | +€83,556 | +12.9% |
| Trade receivables | 40 | €311,248 | €181,930 | -€129,318 | -41.5% |
| Other amounts receivable | 41 | €338,861 | €551,736 | +€212,874 | +62.8% |
| Cash at bank and in hand | 54/58 | €33,432 | €59,716 | +€26,284 | +78.6% |
| Deferred charges and accrued income | 490/1 | €3,694 | €12,700 | +€9,006 | +243.8% |
| Total equity and liabilities | 10/49 | €1,003,385 | €1,118,723 | +€115,338 | +11.5% |
| Equity | 10/15 | €481,490 | -€206,031 | -€687,521 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €473,430 | -€214,091 | -€687,521 | |
| Amounts payable | 17/49 | €521,895 | €1,324,754 | +€802,859 | +153.8% |
| Amounts payable within one year | 42/48 | €521,895 | €1,324,754 | +€802,859 | +153.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €233,430 | €618,554 | +€385,124 | +165.0% |
| Suppliers | 440/4 | €233,430 | €618,554 | +€385,124 | +165.0% |
| Advances received on contracts in progress | 46 | €85,000 | €120,000 | +€35,000 | +41.2% |
| Taxes, remuneration and social security | 45 | €183,125 | €197,782 | +€14,657 | +8.0% |
| Taxes | 450/3 | €56,422 | €58,495 | +€2,072 | +3.7% |
| Remuneration and social security | 454/9 | €126,702 | €139,287 | +€12,585 | +9.9% |
| Other amounts payable | 47/48 | €20,340 | €388,419 | +€368,079 | +1809.6% |
| Remuneration, social security and pensions | 62 | €1,167,148 | €1,326,192 | +€159,044 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,428 | €4,519 | -€3,909 | -46.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €178,520 | -€27,178 | -€205,698 | |
| Other operating charges | 640/8 | €11,871 | €7,318 | -€4,553 | -38.4% |
| Non-recurring operating charges | 66A | - | €463,020 | +€463,020 | |
| Gross operating margin | 9900 | €1,487,266 | €1,093,992 | -€393,274 | -26.4% |
| Operating profit (loss) | 9901 | €121,299 | -€679,879 | -€801,177 | |
| Financial income | 75/76B | €43 | €1 | -€43 | -98.3% |
| Recurring financial income | 75 | €43 | €1 | -€43 | -98.3% |
| Financial charges | 65/66B | €2,924 | €2,275 | -€649 | -22.2% |
| Recurring financial charges | 65 | €2,924 | €2,275 | -€649 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €118,418 | -€682,153 | -€800,571 | |
| Income taxes | 67/77 | €31,937 | €5,368 | -€26,568 | -83.2% |
| Profit (loss) for the period | 9904 | €86,482 | -€687,521 | -€774,003 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,482 | -€687,521 | -€774,003 |
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.