BCA: 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.
BCA
Largest movements
- Receivables within one year +€69,951
up €69,951 (+22.3%), from €314,260 to €384,211
of which Trade receivables: +€70,823
- Intangible fixed assets -€34,257
down €34,257 (-37.4%), from €91,576 to €57,319
- Tangible fixed assets -€17,171
down €17,171 (-46.5%), from €36,960 to €19,788
of which Furniture and vehicles: -€9,249
- Deferred charges and accrued income -€9,917
down €9,917 (-29.8%), from €33,261 to €23,344
- Cash -€8,340
down €8,340 (-18.9%), from €44,230 to €35,890
mainly Short-term financial debts (-€75,415) and Receivables within one year (-€69,951)
- Profit (loss) carried forward +€113,957
up €113,957 (+30.9%), from -€368,469 to -€254,512
- Short-term financial debts -€75,415
down €75,415 (-19.1%), from €394,038 to €318,624
- Tax, wage and social debts -€51,900
down €51,900 (-18.7%), from €277,610 to €225,710
of which Taxes: -€91,047
- Other debts +€14,550
up €14,550 (+55.3%), from €26,308 to €40,858
- Advances received +€13,319
new in 2025: €13,319
- Gross operating margin +€154,690
up €154,690 (+18.8%), from €823,964 to €978,654
- Financial charges -€40,510
down €40,510 (-40.3%), from €100,562 to €60,052
- Write-downs -€31,060
down €31,060, from €6,699 to -€24,362
- Staff costs +€27,017
up €27,017 (+3.7%), from €731,189 to €758,206
- Other operating charges -€15,473
down €15,473 (-47.4%), from €32,659 to €17,186
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 | €730,399 | €723,253 | -€7,146 | -1.0% |
| Fixed assets | 21/28 | €128,802 | €77,373 | -€51,428 | -39.9% |
| Intangible fixed assets | 21 | €91,576 | €57,319 | -€34,257 | -37.4% |
| Tangible fixed assets | 22/27 | €36,960 | €19,788 | -€17,171 | -46.5% |
| Plant, machinery and equipment | 23 | €83 | €0 | -€83 | -100.0% |
| Furniture and vehicles | 24 | €26,449 | €17,200 | -€9,249 | -35.0% |
| Leasing and similar rights | 25 | €7,021 | €0 | -€7,021 | -100.0% |
| Other tangible fixed assets | 26 | €3,407 | €2,589 | -€819 | -24.0% |
| Financial fixed assets | 28 | €266 | €266 | = | 0.0% |
| Current assets | 29/58 | €601,597 | €645,879 | +€44,282 | +7.4% |
| Stocks and contracts in progress | 3 | €209,846 | €202,435 | -€7,411 | -3.5% |
| Stocks | 30/36 | €209,846 | €202,435 | -€7,411 | -3.5% |
| Amounts receivable within one year | 40/41 | €314,260 | €384,211 | +€69,951 | +22.3% |
| Trade receivables | 40 | €313,388 | €384,211 | +€70,823 | +22.6% |
| Other amounts receivable | 41 | €872 | €0 | -€872 | -100.0% |
| Cash at bank and in hand | 54/58 | €44,230 | €35,890 | -€8,340 | -18.9% |
| Deferred charges and accrued income | 490/1 | €33,261 | €23,344 | -€9,917 | -29.8% |
| Total equity and liabilities | 10/49 | €730,399 | €723,253 | -€7,146 | -1.0% |
| Equity | 10/15 | -€199,069 | -€85,112 | +€113,957 | +57.2% |
| Contributions | 10/11 | €154,000 | €154,000 | = | 0.0% |
| Capital | 10 | €154,000 | €154,000 | = | 0.0% |
| Issued capital | 100 | €154,000 | €154,000 | = | 0.0% |
| Reserves | 13 | €15,400 | €15,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,400 | €15,400 | = | 0.0% |
| Legal reserve | 130 | €15,400 | €15,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€368,469 | -€254,512 | +€113,957 | +30.9% |
| Amounts payable | 17/49 | €929,468 | €808,365 | -€121,103 | -13.0% |
| Amounts payable within one year | 42/48 | €929,061 | €807,836 | -€121,225 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €9,454 | €0 | -€9,454 | -100.0% |
| Financial debts | 43 | €394,038 | €318,624 | -€75,415 | -19.1% |
| Credit institutions | 430/8 | €394,038 | €318,624 | -€75,415 | -19.1% |
| Trade debts | 44 | €221,651 | €209,326 | -€12,325 | -5.6% |
| Suppliers | 440/4 | €221,651 | €209,326 | -€12,325 | -5.6% |
| Advances received on contracts in progress | 46 | - | €13,319 | +€13,319 | |
| Taxes, remuneration and social security | 45 | €277,610 | €225,710 | -€51,900 | -18.7% |
| Taxes | 450/3 | €160,213 | €69,165 | -€91,047 | -56.8% |
| Remuneration and social security | 454/9 | €117,397 | €156,545 | +€39,148 | +33.3% |
| Other amounts payable | 47/48 | €26,308 | €40,858 | +€14,550 | +55.3% |
| Accrued charges and deferred income | 492/3 | €407 | €529 | +€122 | +29.8% |
| Non-recurring operating income | 76A | €1,240 | €0 | -€1,240 | -100.0% |
| Remuneration, social security and pensions | 62 | €731,189 | €758,206 | +€27,017 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,305 | €51,428 | -€9,877 | -16.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,699 | -€24,362 | -€31,060 | |
| Other operating charges | 640/8 | €32,659 | €17,186 | -€15,473 | -47.4% |
| Gross operating margin | 9900 | €823,964 | €978,654 | +€154,690 | +18.8% |
| Operating profit (loss) | 9901 | -€7,888 | €176,196 | +€184,083 | |
| Financial income | 75/76B | €8,903 | €125 | -€8,778 | -98.6% |
| Recurring financial income | 75 | €8,903 | €125 | -€8,778 | -98.6% |
| Financial charges | 65/66B | €100,562 | €60,052 | -€40,510 | -40.3% |
| Recurring financial charges | 65 | €100,562 | €60,052 | -€40,510 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | -€99,547 | €116,269 | +€215,816 | |
| Income taxes | 67/77 | €2,479 | €2,312 | -€167 | -6.7% |
| Profit (loss) for the period | 9904 | -€102,026 | €113,957 | +€215,982 | |
| Profit (loss) for the period to be appropriated | 9905 | -€102,026 | €113,957 | +€215,982 |
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 30 September 2026 via checked.be.