B.P.O.: 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.O.
Largest movements
- Stocks and contracts -€996,795
down €996,795 (-26.6%), from €3.7m to €2.7m
- Receivables within one year +€319,720
up €319,720 (+646.3%), from €49,466 to €369,186
of which Other amounts receivable: +€318,191
- Cash +€295,988
up €295,988 (+273.7%), from €108,130 to €404,119
mainly Stocks and contracts (+€996,795) and Trade debts (+€149,694)
- Debts after one year -€579,822
down €579,822 (-18.3%), from €3.2m to €2.6m
- Trade debts +€149,694
up €149,694 (+121.6%), from €123,149 to €272,843
- Gross operating margin +€102,577
up €102,577 (+170.9%), from €60,038 to €162,615
- Financial charges -€52,962
down €52,962 (-28.4%), from €186,241 to €133,279
- Other operating charges -€7,376
down €7,376 (-44.4%), from €16,623 to €9,247
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 | €4,935,234 | €4,558,088 | -€377,146 | -7.6% |
| Fixed assets | 21/28 | €1,034,500 | €1,034,500 | = | 0.0% |
| Financial fixed assets | 28 | €1,034,500 | €1,034,500 | = | 0.0% |
| Current assets | 29/58 | €3,900,734 | €3,523,588 | -€377,146 | -9.7% |
| Stocks and contracts in progress | 3 | €3,743,137 | €2,746,342 | -€996,795 | -26.6% |
| Stocks | 30/36 | €3,743,137 | €2,746,342 | -€996,795 | -26.6% |
| Amounts receivable within one year | 40/41 | €49,466 | €369,186 | +€319,720 | +646.3% |
| Trade receivables | 40 | €10,043 | €11,572 | +€1,529 | +15.2% |
| Other amounts receivable | 41 | €39,423 | €357,614 | +€318,191 | +807.1% |
| Cash at bank and in hand | 54/58 | €108,130 | €404,119 | +€295,988 | +273.7% |
| Deferred charges and accrued income | 490/1 | €0 | €3,941 | +€3,941 | |
| Total equity and liabilities | 10/49 | €4,935,234 | €4,558,088 | -€377,146 | -7.6% |
| Equity | 10/15 | -€249,878 | -€229,404 | +€20,474 | +8.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €17,000 | €17,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€286,878 | -€266,404 | +€20,474 | +7.1% |
| Amounts payable | 17/49 | €5,185,112 | €4,787,492 | -€397,620 | -7.7% |
| Amounts payable after more than one year | 17 | €3,171,308 | €2,591,486 | -€579,822 | -18.3% |
| Financial debts | 170/4 | €3,171,308 | €2,591,486 | -€579,822 | -18.3% |
| Amounts payable within one year | 42/48 | €1,873,352 | €2,024,159 | +€150,807 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €47,703 | €48,816 | +€1,114 | +2.3% |
| Trade debts | 44 | €123,149 | €272,843 | +€149,694 | +121.6% |
| Suppliers | 440/4 | €123,149 | €272,843 | +€149,694 | +121.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,702,500 | €1,702,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €140,452 | €171,847 | +€31,395 | +22.4% |
| Other operating charges | 640/8 | €16,623 | €9,247 | -€7,376 | -44.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €60,038 | €162,615 | +€102,577 | +170.9% |
| Operating profit (loss) | 9901 | €43,416 | €153,368 | +€109,952 | +253.3% |
| Financial income | 75/76B | €115 | €385 | +€270 | +235.3% |
| Recurring financial income | 75 | €115 | €385 | +€270 | +235.3% |
| Financial charges | 65/66B | €186,241 | €133,279 | -€52,962 | -28.4% |
| Recurring financial charges | 65 | €186,241 | €133,279 | -€52,962 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | -€142,711 | €20,474 | +€163,185 | |
| Profit (loss) for the period | 9904 | -€142,711 | €20,474 | +€163,185 | |
| Profit (loss) for the period to be appropriated | 9905 | -€142,711 | €20,474 | +€163,185 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.