Bdemarrez: 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.
Bdemarrez
Largest movements
- Tangible fixed assets +€179,363
up €179,363 (+2,027%), from €8,851 to €188,214
of which Land and buildings: +€184,556
- Cash +€17,529
up €17,529 (+11.8%), from €148,899 to €166,428
mainly Debts after one year (+€181,539) and Net result for the year (+€48,643)
- Current investments +€12,000
up €12,000 (+100%), from €12,000 to €24,000
- Receivables within one year -€9,989
down €9,989 (-83.7%), from €11,940 to €1,951
of which Other amounts receivable: -€5,336
- Debts after one year +€181,539
new in 2025: €181,539
- Current portion of long-term debt +€13,318
new in 2025: €13,318
- Other debts +€8,283
up €8,283 (+12.5%), from €66,044 to €74,326
- Depreciation +€40,285
up €40,285 (+1,131%), from €3,562 to €43,847
- Taxes -€11,605
down €11,605 (-44.3%), from €26,180 to €14,576
- Financial charges +€7,284
up €7,284 (+324%), from €2,245 to €9,529
of which Financial charges: +€7,219
- Gross operating margin +€3,954
up €3,954 (+3.5%), from €113,153 to €117,107
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 | €183,153 | €380,920 | +€197,767 | +108% |
| Fixed assets | 21/28 | €8,851 | €188,214 | +€179,363 | +2,027% |
| Tangible fixed assets | 22/27 | €8,851 | €188,214 | +€179,363 | +2,027% |
| Land and buildings | 22 | €630 | €185,186 | +€184,556 | +29,293% |
| Plant, machinery and equipment | 23 | €3,728 | €2,756 | -€972 | -26.1% |
| Furniture and vehicles | 24 | €4,493 | €272 | -€4,220 | -93.9% |
| Current assets | 29/58 | €174,302 | €192,706 | +€18,403 | +10.6% |
| Amounts receivable within one year | 40/41 | €11,940 | €1,951 | -€9,989 | -83.7% |
| Trade receivables | 40 | €5,000 | €346 | -€4,654 | -93.1% |
| Other amounts receivable | 41 | €6,940 | €1,605 | -€5,336 | -76.9% |
| Current investments | 50/53 | €12,000 | €24,000 | +€12,000 | +100% |
| Cash at bank and in hand | 54/58 | €148,899 | €166,428 | +€17,529 | +11.8% |
| Deferred charges and accrued income | 490/1 | €1,464 | €327 | -€1,137 | -77.7% |
| Total equity and liabilities | 10/49 | €183,153 | €380,920 | +€197,767 | +108% |
| Equity | 10/15 | €110,237 | €107,714 | -€2,522 | -2.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €107,237 | €104,714 | -€2,522 | -2.4% |
| Distributable reserves | 133 | €107,237 | €104,714 | -€2,522 | -2.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €72,916 | €273,205 | +€200,289 | +275% |
| Amounts payable after more than one year | 17 | - | €181,539 | +€181,539 | |
| Financial debts | 170/4 | - | €181,539 | +€181,539 | |
| Amounts payable within one year | 42/48 | €72,916 | €91,666 | +€18,750 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | - | €13,318 | +€13,318 | |
| Trade debts | 44 | €756 | €1,138 | +€382 | +50.5% |
| Suppliers | 440/4 | €756 | €1,138 | +€382 | +50.5% |
| Taxes, remuneration and social security | 45 | €6,116 | €2,884 | -€3,232 | -52.8% |
| Taxes | 450/3 | €6,116 | €2,884 | -€3,232 | -52.8% |
| Other amounts payable | 47/48 | €66,044 | €74,326 | +€8,283 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,562 | €43,847 | +€40,285 | +1,131% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Non-recurring operating charges | 66A | - | €113 | +€113 | |
| Gross operating margin | 9900 | €113,153 | €117,107 | +€3,954 | +3.5% |
| Operating profit (loss) | 9901 | €109,591 | €72,747 | -€36,843 | -33.6% |
| Financial charges | 65/66B | €2,245 | €9,529 | +€7,284 | +324% |
| Recurring financial charges | 65 | €2,210 | €9,429 | +€7,219 | +327% |
| Non-recurring financial charges | 66B | €35 | €100 | +€65 | +184% |
| Profit (loss) for the period before taxes | 9903 | €107,345 | €63,219 | -€44,127 | -41.1% |
| Income taxes | 67/77 | €26,180 | €14,576 | -€11,605 | -44.3% |
| Profit (loss) for the period | 9904 | €81,165 | €48,643 | -€32,522 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €81,165 | €48,643 | -€32,522 | -40.1% |
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 23 October 2026 via checked.be.