B MINUS: what changed
What changed
B MINUS
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
€5,317
2024 · €10,219-€4,902
Equity
€259,365
2024 · €254,048+€5,317
Cash
€48,279
2024 · €3,799+€44,480
Balance sheet total
€975,591
2024 · €1.1m-€127,495
Largest movements
Assets
- Stocks and contracts -€124,270
down €124,270 (-44.5%), from €279,291 to €155,021
- Cash +€44,480
up €44,480 (+1,171%), from €3,799 to €48,279
mainly Debts after one year (+€128,532) and Stocks and contracts (+€124,270)
- Tangible fixed assets -€43,060
down €43,060 (-7.4%), from €578,219 to €535,159
of which Plant, machinery and equipment: -€26,103
Equity and liabilities
- Short-term financial debts -€192,482
down €192,482 (-96.2%), from €199,982 to €7,500
- Trade debts -€144,829
down €144,829 (-79.0%), from €183,268 to €38,438
- Debts after one year +€128,532
up €128,532 (+63.8%), from €201,358 to €329,890
- Other debts +€47,613
up €47,613 (+56.7%), from €83,952 to €131,565
- Advances received +€38,681
new in 2025: €38,681
Income statement
- Gross operating margin -€488,877
down €488,877 (-46.4%), from €1.1m to €564,470
- Staff costs -€391,360
down €391,360 (-50.8%), from €770,679 to €379,319
- Depreciation -€80,062
down €80,062 (-49.4%), from €162,104 to €82,042
- Financial charges -€32,770
down €32,770 (-47.3%), from €69,302 to €36,532
- Write-downs +€23,326
new in 2025: €23,326
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€10,219
Gross operating margin
-€488,877
Staff costs
+€391,360
Depreciation
+€80,062
Write-downs
-€23,326
Other operating charges
+€63
Financial income
-€2,063
Financial charges
+€32,770
Taxes
+€5,110
Result 2025
€5,317
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€152,421
Investment
-€38,982
Financing
-€68,959
Cash 2024
€3,799
From operations (derived)
+€152,421
Net result for the year
+€5,317
Depreciation
+€82,042
Stocks and contracts
+€124,270
Receivables within one year
+€4,264
Deferred charges and accrued income
+€382
Trade debts
-€144,829
Tax, wage and social debts
+€7,530
Advances received
+€38,681
Other debts
+€47,613
Accrued charges and deferred income
-€12,849
Investment (derived)
-€38,982
Investment in fixed assets (net)
-€38,982
Financing
-€68,959
Debts after one year
+€128,532
Current portion of long-term debt
-€5,009
Short-term financial debts
-€192,482
Cash 2025
€48,279
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,103,087 | €975,591 | -€127,495 | -11.6% |
| Fixed assets | 21/28 | €578,319 | €535,259 | -€43,060 | -7.4% |
| Tangible fixed assets | 22/27 | €578,219 | €535,159 | -€43,060 | -7.4% |
| Land and buildings | 22 | €420,775 | €395,934 | -€24,841 | -5.9% |
| Plant, machinery and equipment | 23 | €103,831 | €77,728 | -€26,103 | -25.1% |
| Furniture and vehicles | 24 | €20,493 | €39,417 | +€18,924 | +92.3% |
| Leasing and similar rights | 25 | €33,120 | €22,080 | -€11,040 | -33.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €524,768 | €440,332 | -€84,436 | -16.1% |
| Stocks and contracts in progress | 3 | €279,291 | €155,021 | -€124,270 | -44.5% |
| Stocks | 30/36 | €279,291 | €155,021 | -€124,270 | -44.5% |
| Amounts receivable within one year | 40/41 | €233,052 | €228,788 | -€4,264 | -1.8% |
| Trade receivables | 40 | €224,793 | €223,822 | -€971 | -0.4% |
| Other amounts receivable | 41 | €8,259 | €4,966 | -€3,293 | -39.9% |
| Cash at bank and in hand | 54/58 | €3,799 | €48,279 | +€44,480 | +1,171% |
| Deferred charges and accrued income | 490/1 | €8,626 | €8,244 | -€382 | -4.4% |
| Total equity and liabilities | 10/49 | €1,103,087 | €975,591 | -€127,495 | -11.6% |
| Equity | 10/15 | €254,048 | €259,365 | +€5,317 | +2.1% |
| Contributions | 10/11 | €20,100 | €20,100 | = | 0.0% |
| Reserves | 13 | €233,948 | €239,265 | +€5,317 | +2.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €233,948 | €239,265 | +€5,317 | +2.3% |
| Amounts payable | 17/49 | €849,038 | €716,226 | -€132,813 | -15.6% |
| Amounts payable after more than one year | 17 | €201,358 | €329,890 | +€128,532 | +63.8% |
| Financial debts | 170/4 | €201,358 | €329,890 | +€128,532 | +63.8% |
| Amounts payable within one year | 42/48 | €634,832 | €386,335 | -€248,497 | -39.1% |
| Current portion of amounts payable after more than one year | 42 | €117,113 | €112,104 | -€5,009 | -4.3% |
| Financial debts | 43 | €199,982 | €7,500 | -€192,482 | -96.2% |
| Credit institutions | 430/8 | €199,982 | €7,500 | -€192,482 | -96.2% |
| Trade debts | 44 | €183,268 | €38,438 | -€144,829 | -79.0% |
| Suppliers | 440/4 | €183,268 | €38,438 | -€144,829 | -79.0% |
| Advances received on contracts in progress | 46 | - | €38,681 | +€38,681 | |
| Taxes, remuneration and social security | 45 | €50,517 | €58,047 | +€7,530 | +14.9% |
| Taxes | 450/3 | €13,692 | €10,063 | -€3,629 | -26.5% |
| Remuneration and social security | 454/9 | €36,826 | €47,985 | +€11,159 | +30.3% |
| Other amounts payable | 47/48 | €83,952 | €131,565 | +€47,613 | +56.7% |
| Accrued charges and deferred income | 492/3 | €12,849 | €0 | -€12,849 | -100% |
| Remuneration, social security and pensions | 62 | €770,679 | €379,319 | -€391,360 | -50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,104 | €82,042 | -€80,062 | -49.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €23,326 | +€23,326 | |
| Other operating charges | 640/8 | €34,311 | €34,248 | -€63 | -0.2% |
| Gross operating margin | 9900 | €1,053,347 | €564,470 | -€488,877 | -46.4% |
| Operating profit (loss) | 9901 | €86,253 | €45,536 | -€40,718 | -47.2% |
| Financial income | 75/76B | €2,403 | €340 | -€2,063 | -85.9% |
| Recurring financial income | 75 | €2,403 | €340 | -€2,063 | -85.9% |
| Financial charges | 65/66B | €69,302 | €36,532 | -€32,770 | -47.3% |
| Recurring financial charges | 65 | €69,302 | €36,532 | -€32,770 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €19,354 | €9,343 | -€10,011 | -51.7% |
| Income taxes | 67/77 | €9,136 | €4,026 | -€5,110 | -55.9% |
| Profit (loss) for the period | 9904 | €10,219 | €5,317 | -€4,902 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,219 | €5,317 | -€4,902 | -48.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 29 December 2024 and 29 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.