BCH MONTAGE: what changed
BCH MONTAGE
Largest movements
- Receivables within one year +€193,060
up €193,060 (+29.9%), from €646,357 to €839,417
of which Other amounts receivable: +€152,035
- Tangible fixed assets -€60,102
down €60,102 (-21.5%), from €279,456 to €219,354
of which Furniture and vehicles: -€57,348
- Cash -€43,630
down €43,630 (-14.6%), from €299,717 to €256,087
mainly Receivables within one year (-€193,060) and Debts after one year (-€59,767)
- Stocks and contracts +€13,880
up €13,880 (+1,421%), from €977 to €14,857
- Reserves +€86,017
up €86,017 (+28.7%), from €299,487 to €385,504
of which Distributable reserves: +€86,017
- Trade debts +€67,952
up €67,952 (+19.0%), from €357,985 to €425,937
- Debts after one year -€59,767
down €59,767 (-58.3%), from €102,604 to €42,837
- Short-term financial debts -€33,126
no longer reported in 2025 (was €33,126)
- Current portion of long-term debt +€32,169
up €32,169 (+55.1%), from €58,384 to €90,553
- Gross operating margin -€43,636
down €43,636 (-16.3%), from €267,666 to €224,030
- Depreciation +€31,393
up €31,393 (+68.7%), from €45,674 to €77,067
- Taxes -€21,683
down €21,683 (-37.3%), from €58,146 to €36,463
- Other operating charges +€6,564
up €6,564 (+2,134%), from €308 to €6,871
- Financial charges +€6,002
up €6,002 (+78.9%), from €7,611 to €13,613
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 | €1,226,508 | €1,329,715 | +€103,207 | +8.4% |
| Fixed assets | 21/28 | €279,456 | €219,354 | -€60,102 | -21.5% |
| Tangible fixed assets | 22/27 | €279,456 | €219,354 | -€60,102 | -21.5% |
| Land and buildings | 22 | €72,092 | €66,136 | -€5,956 | -8.3% |
| Plant, machinery and equipment | 23 | €46,936 | €50,138 | +€3,202 | +6.8% |
| Furniture and vehicles | 24 | €160,428 | €103,080 | -€57,348 | -35.7% |
| Current assets | 29/58 | €947,051 | €1,110,361 | +€163,310 | +17.2% |
| Stocks and contracts in progress | 3 | €977 | €14,857 | +€13,880 | +1,421% |
| Stocks | 30/36 | €977 | €14,857 | +€13,880 | +1,421% |
| Amounts receivable within one year | 40/41 | €646,357 | €839,417 | +€193,060 | +29.9% |
| Trade receivables | 40 | €559,568 | €600,593 | +€41,025 | +7.3% |
| Other amounts receivable | 41 | €86,789 | €238,824 | +€152,035 | +175% |
| Cash at bank and in hand | 54/58 | €299,717 | €256,087 | -€43,630 | -14.6% |
| Total equity and liabilities | 10/49 | €1,226,508 | €1,329,715 | +€103,207 | +8.4% |
| Equity | 10/15 | €648,338 | €734,355 | +€86,017 | +13.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €299,487 | €385,504 | +€86,017 | +28.7% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €296,987 | €383,004 | +€86,017 | +29.0% |
| Profit (loss) carried forward | 14 | €323,851 | €323,851 | +€0 | 0.0% |
| Amounts payable | 17/49 | €578,170 | €595,360 | +€17,190 | +3.0% |
| Amounts payable after more than one year | 17 | €102,604 | €42,837 | -€59,767 | -58.3% |
| Financial debts | 170/4 | €102,604 | €42,837 | -€59,767 | -58.3% |
| Amounts payable within one year | 42/48 | €475,566 | €552,523 | +€76,957 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €58,384 | €90,553 | +€32,169 | +55.1% |
| Financial debts | 43 | €33,126 | - | -€33,126 | |
| Credit institutions | 430/8 | €33,126 | - | -€33,126 | |
| Trade debts | 44 | €357,985 | €425,937 | +€67,952 | +19.0% |
| Suppliers | 440/4 | €357,985 | €425,937 | +€67,952 | +19.0% |
| Taxes, remuneration and social security | 45 | €26,072 | €27,033 | +€961 | +3.7% |
| Taxes | 450/3 | €26,072 | €27,033 | +€961 | +3.7% |
| Other amounts payable | 47/48 | - | €9,000 | +€9,000 | |
| Non-recurring operating income | 76A | - | €299 | +€299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,674 | €77,067 | +€31,393 | +68.7% |
| Other operating charges | 640/8 | €308 | €6,871 | +€6,564 | +2,134% |
| Gross operating margin | 9900 | €267,666 | €224,030 | -€43,636 | -16.3% |
| Operating profit (loss) | 9901 | €221,684 | €140,092 | -€81,592 | -36.8% |
| Financial income | 75/76B | €4,647 | €5,000 | +€353 | +7.6% |
| Recurring financial income | 75 | €4,647 | €5,000 | +€353 | +7.6% |
| Financial charges | 65/66B | €7,611 | €13,613 | +€6,002 | +78.9% |
| Recurring financial charges | 65 | €7,611 | €13,613 | +€6,002 | +78.9% |
| Profit (loss) for the period before taxes | 9903 | €218,720 | €131,479 | -€87,241 | -39.9% |
| Income taxes | 67/77 | €58,146 | €36,463 | -€21,683 | -37.3% |
| Profit (loss) for the period | 9904 | €160,574 | €95,016 | -€65,558 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €160,574 | €95,016 | -€65,558 | -40.8% |
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 6 November 2026 via checked.be.