BCM & Z: 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.
BCM & Z
Largest movements
- Receivables within one year -€33,580
down €33,580 (-23.8%), from €141,275 to €107,696
of which Trade receivables: -€26,376
- Stocks and contracts +€6,000
new in 2025: €6,000
- Cash +€4,040
up €4,040 (+37.6%), from €10,751 to €14,791
mainly Receivables within one year (+€33,580) and Net result for the year (+€11,175)
- Tangible fixed assets +€3,393
up €3,393 (+53.6%), from €6,333 to €9,726
of which Plant, machinery and equipment: +€3,647
- Trade debts -€15,358
down €15,358 (-47.7%), from €32,170 to €16,813
- Tax, wage and social debts -€12,173
down €12,173 (-83.2%), from €14,631 to €2,458
of which Taxes: -€11,049
- Reserves +€11,175
up €11,175 (+11.5%), from €96,775 to €107,951
- Accrued charges and deferred income -€4,415
no longer reported in 2025 (was €4,415)
- Gross operating margin -€27,311
down €27,311 (-32.9%), from €83,096 to €55,785
- Staff costs -€13,292
down €13,292 (-29.1%), from €45,745 to €32,453
- Taxes -€5,018
down €5,018 (-47.9%), from €10,476 to €5,458
- Financial charges +€1,431
up €1,431 (+71.5%), from €2,002 to €3,434
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.
Derived cash bridge
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 | €160,492 | €139,721 | -€20,770 | -12.9% |
| Fixed assets | 21/28 | €6,333 | €9,726 | +€3,393 | +53.6% |
| Tangible fixed assets | 22/27 | €6,333 | €9,726 | +€3,393 | +53.6% |
| Land and buildings | 22 | €4,398 | €4,145 | -€254 | -5.8% |
| Plant, machinery and equipment | 23 | €1,935 | €5,581 | +€3,647 | +188% |
| Current assets | 29/58 | €154,159 | €129,995 | -€24,163 | -15.7% |
| Stocks and contracts in progress | 3 | - | €6,000 | +€6,000 | |
| Contracts in progress | 37 | - | €6,000 | +€6,000 | |
| Amounts receivable within one year | 40/41 | €141,275 | €107,696 | -€33,580 | -23.8% |
| Trade receivables | 40 | €71,724 | €45,349 | -€26,376 | -36.8% |
| Other amounts receivable | 41 | €69,551 | €62,347 | -€7,204 | -10.4% |
| Cash at bank and in hand | 54/58 | €10,751 | €14,791 | +€4,040 | +37.6% |
| Deferred charges and accrued income | 490/1 | €2,132 | €1,509 | -€623 | -29.2% |
| Total equity and liabilities | 10/49 | €160,492 | €139,721 | -€20,770 | -12.9% |
| Equity | 10/15 | €109,275 | €120,451 | +€11,175 | +10.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €96,775 | €107,951 | +€11,175 | +11.5% |
| Distributable reserves | 133 | €96,775 | €107,951 | +€11,175 | +11.5% |
| Amounts payable | 17/49 | €51,216 | €19,271 | -€31,946 | -62.4% |
| Amounts payable within one year | 42/48 | €46,801 | €19,271 | -€27,531 | -58.8% |
| Trade debts | 44 | €32,170 | €16,813 | -€15,358 | -47.7% |
| Suppliers | 440/4 | €32,170 | €16,813 | -€15,358 | -47.7% |
| Taxes, remuneration and social security | 45 | €14,631 | €2,458 | -€12,173 | -83.2% |
| Taxes | 450/3 | €13,507 | €2,458 | -€11,049 | -81.8% |
| Remuneration and social security | 454/9 | €1,124 | - | -€1,124 | |
| Accrued charges and deferred income | 492/3 | €4,415 | - | -€4,415 | |
| Remuneration, social security and pensions | 62 | €45,745 | €32,453 | -€13,292 | -29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,758 | €1,607 | -€151 | -8.6% |
| Other operating charges | 640/8 | €1,531 | €2,167 | +€636 | +41.6% |
| Gross operating margin | 9900 | €83,096 | €55,785 | -€27,311 | -32.9% |
| Operating profit (loss) | 9901 | €34,063 | €19,558 | -€14,505 | -42.6% |
| Financial income | 75/76B | €4 | €509 | +€505 | +12,945% |
| Recurring financial income | 75 | €4 | €509 | +€505 | +12,945% |
| Financial charges | 65/66B | €2,002 | €3,434 | +€1,431 | +71.5% |
| Recurring financial charges | 65 | €2,002 | €3,434 | +€1,431 | +71.5% |
| Profit (loss) for the period before taxes | 9903 | €32,065 | €16,633 | -€15,431 | -48.1% |
| Income taxes | 67/77 | €10,476 | €5,458 | -€5,018 | -47.9% |
| Profit (loss) for the period | 9904 | €21,588 | €11,175 | -€10,413 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,588 | €11,175 | -€10,413 | -48.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.