B.P.A.: 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.P.A.
Largest movements
- Tangible fixed assets -€76,183
down €76,183 (-5.7%), from €1.3m to €1.3m
of which Land and buildings: -€75,851
- Cash +€19,108
up €19,108 (+131%), from €14,541 to €33,648
mainly Depreciation (+€80,455) and Net result for the year (+€77,002)
- Reserves +€77,002
up €77,002 (+13.8%), from €557,274 to €634,275
of which Distributable reserves: +€77,002
- Debts after one year -€45,854
down €45,854 (-66.5%), from €68,997 to €23,143
- Current portion of long-term debt -€42,466
down €42,466 (-48.1%), from €88,320 to €45,854
- Short-term financial debts -€31,771
down €31,771 (-53.0%), from €60,000 to €28,229
- Financial income -€32,969
down €32,969 (-99.7%), from €33,057 to €88
of which Non-recurring financial income: -€32,999
- Gross operating margin +€27,937
up €27,937 (+13.4%), from €208,298 to €236,235
- Other operating charges -€17,498
down €17,498 (-60.4%), from €28,957 to €11,459
- Taxes +€13,531
up €13,531 (+53.3%), from €25,375 to €38,906
- Financial charges -€5,832
down €5,832 (-17.0%), from €34,333 to €28,501
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 | €1,439,803 | €1,377,884 | -€61,919 | -4.3% |
| Fixed assets | 21/28 | €1,338,852 | €1,262,669 | -€76,183 | -5.7% |
| Tangible fixed assets | 22/27 | €1,338,852 | €1,262,669 | -€76,183 | -5.7% |
| Land and buildings | 22 | €1,337,856 | €1,262,005 | -€75,851 | -5.7% |
| Plant, machinery and equipment | 23 | €995 | €663 | -€332 | -33.3% |
| Current assets | 29/58 | €100,951 | €115,215 | +€14,264 | +14.1% |
| Amounts receivable within one year | 40/41 | €85,582 | €81,567 | -€4,015 | -4.7% |
| Trade receivables | 40 | €55,582 | €59,003 | +€3,421 | +6.2% |
| Other amounts receivable | 41 | €30,000 | €22,564 | -€7,436 | -24.8% |
| Cash at bank and in hand | 54/58 | €14,541 | €33,648 | +€19,108 | +131% |
| Deferred charges and accrued income | 490/1 | €828 | - | -€828 | |
| Total equity and liabilities | 10/49 | €1,439,803 | €1,377,884 | -€61,919 | -4.3% |
| Equity | 10/15 | €856,127 | €933,129 | +€77,002 | +9.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €557,274 | €634,275 | +€77,002 | +13.8% |
| 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 | €555,414 | €632,416 | +€77,002 | +13.9% |
| Profit (loss) carried forward | 14 | €280,262 | €280,262 | = | 0.0% |
| Amounts payable | 17/49 | €583,675 | €444,755 | -€138,921 | -23.8% |
| Amounts payable after more than one year | 17 | €68,997 | €23,143 | -€45,854 | -66.5% |
| Financial debts | 170/4 | €68,997 | €23,143 | -€45,854 | -66.5% |
| Amounts payable within one year | 42/48 | €491,653 | €399,416 | -€92,238 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €88,320 | €45,854 | -€42,466 | -48.1% |
| Financial debts | 43 | €60,000 | €28,229 | -€31,771 | -53.0% |
| Credit institutions | 430/8 | €60,000 | €28,229 | -€31,771 | -53.0% |
| Trade debts | 44 | €12,994 | €10,581 | -€2,413 | -18.6% |
| Suppliers | 440/4 | €12,994 | €10,581 | -€2,413 | -18.6% |
| Taxes, remuneration and social security | 45 | €10,005 | €8,092 | -€1,913 | -19.1% |
| Taxes | 450/3 | €10,005 | €8,092 | -€1,913 | -19.1% |
| Other amounts payable | 47/48 | €320,334 | €306,660 | -€13,675 | -4.3% |
| Accrued charges and deferred income | 492/3 | €23,025 | €22,196 | -€830 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,924 | €80,455 | -€469 | -0.6% |
| Other operating charges | 640/8 | €28,957 | €11,459 | -€17,498 | -60.4% |
| Gross operating margin | 9900 | €208,298 | €236,235 | +€27,937 | +13.4% |
| Operating profit (loss) | 9901 | €98,418 | €144,321 | +€45,903 | +46.6% |
| Financial income | 75/76B | €33,057 | €88 | -€32,969 | -99.7% |
| Recurring financial income | 75 | €58 | €88 | +€30 | +51.4% |
| Non-recurring financial income | 76B | €32,999 | - | -€32,999 | |
| Financial charges | 65/66B | €34,333 | €28,501 | -€5,832 | -17.0% |
| Recurring financial charges | 65 | €34,333 | €28,501 | -€5,832 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €97,142 | €115,908 | +€18,766 | +19.3% |
| Income taxes | 67/77 | €25,375 | €38,906 | +€13,531 | +53.3% |
| Profit (loss) for the period | 9904 | €71,767 | €77,002 | +€5,235 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,767 | €77,002 | +€5,235 | +7.3% |
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 16 October 2026 via checked.be.