B.P.Z: what changed
B.P.Z
Largest movements
- Cash -€2,743
down €2,743 (-26.6%), from €10,302 to €7,558
mainly Net result for the year (-€54,975) and Investment in fixed assets (net) (-€5,627)
- Tangible fixed assets -€2,287
down €2,287 (-8.5%), from €26,945 to €24,658
- Profit (loss) carried forward -€54,975
down €54,975 (-18.8%), from -€292,421 to -€347,396
- Trade debts +€33,049
up €33,049 (+10.9%), from €302,519 to €335,568
- Tax, wage and social debts +€16,071
up €16,071 (+82.8%), from €19,414 to €35,484
- Staff costs +€4,204
up €4,204 (+2.8%), from €147,981 to €152,185
- Taxes -€2,826
new in 2025: -€2,826
- Gross operating margin -€1,619
down €1,619 (-1.5%), from €110,731 to €109,112
- Other operating charges -€1,577
down €1,577 (-46.0%), from €3,427 to €1,851
- Financial charges -€1,563
down €1,563 (-23.9%), from €6,526 to €4,963
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,972 | €84,117 | -€5,856 | -6.5% |
| Fixed assets | 21/28 | €26,945 | €24,658 | -€2,287 | -8.5% |
| Tangible fixed assets | 22/27 | €26,945 | €24,658 | -€2,287 | -8.5% |
| Plant, machinery and equipment | 23 | €26,945 | €24,658 | -€2,287 | -8.5% |
| Current assets | 29/58 | €63,027 | €59,459 | -€3,568 | -5.7% |
| Stocks and contracts in progress | 3 | €50,977 | €50,152 | -€825 | -1.6% |
| Stocks | 30/36 | €50,977 | €50,152 | -€825 | -1.6% |
| Amounts receivable within one year | 40/41 | €1,748 | €1,748 | = | 0.0% |
| Other amounts receivable | 41 | €1,748 | €1,748 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,302 | €7,558 | -€2,743 | -26.6% |
| Total equity and liabilities | 10/49 | €89,972 | €84,117 | -€5,856 | -6.5% |
| Equity | 10/15 | -€231,961 | -€286,936 | -€54,975 | -23.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,860 | €41,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€292,421 | -€347,396 | -€54,975 | -18.8% |
| Amounts payable | 17/49 | €321,933 | €371,052 | +€49,119 | +15.3% |
| Amounts payable within one year | 42/48 | €321,933 | €371,052 | +€49,119 | +15.3% |
| Trade debts | 44 | €302,519 | €335,568 | +€33,049 | +10.9% |
| Suppliers | 440/4 | €302,519 | €335,568 | +€33,049 | +10.9% |
| Taxes, remuneration and social security | 45 | €19,414 | €35,484 | +€16,071 | +82.8% |
| Taxes | 450/3 | €19,414 | €35,484 | +€16,071 | +82.8% |
| Remuneration, social security and pensions | 62 | €147,981 | €152,185 | +€4,204 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,529 | €7,914 | +€384 | +5.1% |
| Other operating charges | 640/8 | €3,427 | €1,851 | -€1,577 | -46.0% |
| Gross operating margin | 9900 | €110,731 | €109,112 | -€1,619 | -1.5% |
| Operating profit (loss) | 9901 | -€48,207 | -€52,838 | -€4,631 | -9.6% |
| Financial charges | 65/66B | €6,526 | €4,963 | -€1,563 | -23.9% |
| Recurring financial charges | 65 | €6,526 | €4,963 | -€1,563 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | -€54,733 | -€57,801 | -€3,068 | -5.6% |
| Income taxes | 67/77 | - | -€2,826 | -€2,826 | |
| Profit (loss) for the period | 9904 | -€54,733 | -€54,975 | -€242 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,733 | -€54,975 | -€242 | -0.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.