BD MONTAGES: 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.
BD MONTAGES
Largest movements
- Cash -€143,202
down €143,202 (-19.7%), from €726,647 to €583,445
mainly Trade debts (-€112,371) and Other debts (-€49,949)
- Receivables within one year -€62,712
down €62,712 (-16.6%), from €377,383 to €314,671
of which Trade receivables: -€68,888
- Tangible fixed assets -€33,876
down €33,876 (-9.0%), from €375,301 to €341,424
of which Furniture and vehicles: -€16,947
- Trade debts -€112,371
down €112,371 (-71.2%), from €157,849 to €45,478
- Other debts -€49,949
down €49,949 (-86.7%), from €57,601 to €7,652
- Debts after one year -€30,605
down €30,605 (-19.8%), from €154,669 to €124,065
- Profit (loss) carried forward -€28,092
down €28,092 (-4.7%), from €594,455 to €566,363
- Provisions -€21,826
down €21,826 (-78.4%), from €27,835 to €6,009
- Gross operating margin -€146,822
down €146,822 (-41.6%), from €353,321 to €206,500
- Staff costs -€40,121
down €40,121 (-15.4%), from €260,367 to €220,246
- Provisions -€31,359
down €31,359, from €9,533 to -€21,826
- Depreciation +€13,842
up €13,842 (+69.1%), from €20,034 to €33,876
- Write-downs -€7,569
new in 2025: -€7,569
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 | €1,493,743 | €1,253,841 | -€239,902 | -16.1% |
| Fixed assets | 21/28 | €385,152 | €348,024 | -€37,128 | -9.6% |
| Tangible fixed assets | 22/27 | €375,301 | €341,424 | -€33,876 | -9.0% |
| Land and buildings | 22 | €292,370 | €275,987 | -€16,383 | -5.6% |
| Plant, machinery and equipment | 23 | €835 | €289 | -€547 | -65.4% |
| Furniture and vehicles | 24 | €82,096 | €65,149 | -€16,947 | -20.6% |
| Financial fixed assets | 28 | €9,851 | €6,600 | -€3,251 | -33.0% |
| Current assets | 29/58 | €1,108,591 | €905,816 | -€202,775 | -18.3% |
| Amounts receivable within one year | 40/41 | €377,383 | €314,671 | -€62,712 | -16.6% |
| Trade receivables | 40 | €366,428 | €297,539 | -€68,888 | -18.8% |
| Other amounts receivable | 41 | €10,956 | €17,132 | +€6,176 | +56.4% |
| Cash at bank and in hand | 54/58 | €726,647 | €583,445 | -€143,202 | -19.7% |
| Deferred charges and accrued income | 490/1 | €4,560 | €7,700 | +€3,140 | +68.9% |
| Total equity and liabilities | 10/49 | €1,493,743 | €1,253,841 | -€239,902 | -16.1% |
| Equity | 10/15 | €1,049,047 | €1,020,955 | -€28,092 | -2.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Contributions outside capital | 11 | €7,000 | €7,000 | = | 0.0% |
| Other | 1109/19 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €447,591 | €447,591 | = | 0.0% |
| Non-distributable reserves | 130/1 | €111,860 | €111,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €110,000 | €110,000 | = | 0.0% |
| Distributable reserves | 133 | €335,731 | €335,731 | = | 0.0% |
| Profit (loss) carried forward | 14 | €594,455 | €566,363 | -€28,092 | -4.7% |
| Provisions and deferred taxes | 16 | €27,835 | €6,009 | -€21,826 | -78.4% |
| Provisions for liabilities and charges | 160/5 | €27,835 | €6,009 | -€21,826 | -78.4% |
| Environmental obligations | 163 | €27,835 | €6,009 | -€21,826 | -78.4% |
| Amounts payable | 17/49 | €416,862 | €226,877 | -€189,985 | -45.6% |
| Amounts payable after more than one year | 17 | €154,669 | €124,065 | -€30,605 | -19.8% |
| Financial debts | 170/4 | €154,669 | €124,065 | -€30,605 | -19.8% |
| Amounts payable within one year | 42/48 | €262,193 | €98,034 | -€164,159 | -62.6% |
| Current portion of amounts payable after more than one year | 42 | €31,521 | €30,605 | -€917 | -2.9% |
| Trade debts | 44 | €157,849 | €45,478 | -€112,371 | -71.2% |
| Suppliers | 440/4 | €157,849 | €45,478 | -€112,371 | -71.2% |
| Taxes, remuneration and social security | 45 | €15,221 | €14,300 | -€921 | -6.1% |
| Taxes | 450/3 | €2,535 | €27 | -€2,508 | -98.9% |
| Remuneration and social security | 454/9 | €12,686 | €14,273 | +€1,586 | +12.5% |
| Other amounts payable | 47/48 | €57,601 | €7,652 | -€49,949 | -86.7% |
| Accrued charges and deferred income | 492/3 | - | €4,779 | +€4,779 | |
| Non-recurring operating income | 76A | €35,767 | - | -€35,767 | |
| Remuneration, social security and pensions | 62 | €260,367 | €220,246 | -€40,121 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,034 | €33,876 | +€13,842 | +69.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€7,569 | -€7,569 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €9,533 | -€21,826 | -€31,359 | |
| Other operating charges | 640/8 | €6,117 | €9,502 | +€3,385 | +55.3% |
| Gross operating margin | 9900 | €353,321 | €206,500 | -€146,822 | -41.6% |
| Operating profit (loss) | 9901 | €57,271 | -€27,730 | -€85,000 | |
| Financial income | 75/76B | €2,626 | €2,310 | -€316 | -12.0% |
| Recurring financial income | 75 | €2,626 | €2,310 | -€316 | -12.0% |
| Financial charges | 65/66B | €770 | €2,413 | +€1,644 | +214% |
| Recurring financial charges | 65 | €770 | €2,413 | +€1,644 | +214% |
| Profit (loss) for the period before taxes | 9903 | €59,127 | -€27,833 | -€86,961 | |
| Income taxes | 67/77 | €1,479 | €259 | -€1,220 | -82.5% |
| Profit (loss) for the period | 9904 | €57,648 | -€28,092 | -€85,740 | |
| Profit (loss) for the period to be appropriated | 9905 | €57,648 | -€28,092 | -€85,740 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.