BALF MANAGEMENT: 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.
BALF MANAGEMENT
Largest movements
- Current investments -€1.0m
down €1.0m (-33.4%), from €3.0m to €2.0m
- Cash +€864,638
up €864,638 (+491.2%), from €176,024 to €1.0m
mainly Current investments (+€1.0m) and Net result for the year (+€86,814)
- Other debts -€225,466
down €225,466 (-65.2%), from €346,022 to €120,555
- Reserves +€86,814
up €86,814 (+3.3%), from €2.6m to €2.7m
- Financial income -€2.7m
down €2.7m (-96.9%), from €2.7m to €84,583
- Taxes -€239,718
down €239,718 (-82.4%), from €290,983 to €51,265
- Financial charges +€5,745
up €5,745 (+136.0%), from €4,225 to €9,970
- Gross operating margin -€4,014
down €4,014 (-5.7%), from €69,962 to €65,948
- Other operating charges +€2,342
up €2,342 (+1671.7%), from €140 to €2,482
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 | €3,710,579 | €3,578,573 | -€132,006 | -3.6% |
| Fixed assets | 21/28 | €150,000 | €150,000 | = | 0.0% |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €3,560,579 | €3,428,573 | -€132,006 | -3.7% |
| Amounts receivable after more than one year | 29 | €333,333 | €333,333 | = | 0.0% |
| Other amounts receivable | 291 | €333,333 | €333,333 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €667 | €18,360 | +€17,693 | +2653.7% |
| Trade receivables | 40 | €644 | €18,299 | +€17,655 | +2741.5% |
| Other amounts receivable | 41 | €23 | €60 | +€38 | +165.9% |
| Current investments | 50/53 | €3,039,000 | €2,024,646 | -€1.0m | -33.4% |
| Cash at bank and in hand | 54/58 | €176,024 | €1,040,662 | +€864,638 | +491.2% |
| Deferred charges and accrued income | 490/1 | €11,555 | €11,572 | +€17 | +0.1% |
| Total equity and liabilities | 10/49 | €3,710,579 | €3,578,573 | -€132,006 | -3.6% |
| Equity | 10/15 | €3,070,565 | €3,157,379 | +€86,814 | +2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,634,016 | €2,720,830 | +€86,814 | +3.3% |
| Distributable reserves | 133 | €2,634,016 | €2,720,830 | +€86,814 | +3.3% |
| Profit (loss) carried forward | 14 | €430,349 | €430,349 | = | 0.0% |
| Amounts payable | 17/49 | €640,014 | €421,194 | -€218,819 | -34.2% |
| Amounts payable within one year | 42/48 | €640,014 | €421,194 | -€218,819 | -34.2% |
| Financial debts | 43 | €6,920 | €6,899 | -€21 | -0.3% |
| Other loans | 439 | €6,920 | €6,899 | -€21 | -0.3% |
| Trade debts | 44 | €2,149 | €3,418 | +€1,269 | +59.0% |
| Suppliers | 440/4 | €2,149 | €3,418 | +€1,269 | +59.0% |
| Taxes, remuneration and social security | 45 | €284,923 | €290,322 | +€5,399 | +1.9% |
| Taxes | 450/3 | €283,923 | €288,322 | +€4,399 | +1.5% |
| Remuneration and social security | 454/9 | €1,000 | €2,000 | +€1,000 | +100.0% |
| Other amounts payable | 47/48 | €346,022 | €120,555 | -€225,466 | -65.2% |
| Other operating charges | 640/8 | €140 | €2,482 | +€2,342 | +1671.7% |
| Gross operating margin | 9900 | €69,962 | €65,948 | -€4,014 | -5.7% |
| Operating profit (loss) | 9901 | €69,822 | €63,466 | -€6,356 | -9.1% |
| Financial income | 75/76B | €2,735,272 | €84,583 | -€2.7m | -96.9% |
| Recurring financial income | 75 | €2,735,272 | €84,583 | -€2.7m | -96.9% |
| Financial charges | 65/66B | €4,225 | €9,970 | +€5,745 | +136.0% |
| Recurring financial charges | 65 | €4,225 | €9,970 | +€5,745 | +136.0% |
| Profit (loss) for the period before taxes | 9903 | €2,800,869 | €138,079 | -€2.7m | -95.1% |
| Income taxes | 67/77 | €290,983 | €51,265 | -€239,718 | -82.4% |
| Profit (loss) for the period | 9904 | €2,509,886 | €86,814 | -€2.4m | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,509,886 | €86,814 | -€2.4m | -96.5% |
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 7 October 2026 via checked.be.