BDMO: 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.
What changed
BDMO
NACE 17.120, Manufacture of paper and paper products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€228,652
2024 · -€503,496+€732,149
Equity
€669,418
2024 · €440,765+€228,652
Cash
€146,586
2024 · €137,793+€8,793
Balance sheet total
€5.8m
2024 · €5.8m-€138
Largest movements
Assets
- Receivables within one year +€446,548
up €446,548 (+27.1%), from €1.6m to €2.1m
of which Trade receivables: +€498,334
- Tangible fixed assets -€307,815
down €307,815 (-25.2%), from €1.2m to €912,894
of which Leasing and similar rights: -€159,192
- Stocks and contracts -€145,471
down €145,471 (-5.3%), from €2.8m to €2.6m
Equity and liabilities
- Short-term financial debts +€680,713
up €680,713 (+31.2%), from €2.2m to €2.9m
- Trade debts -€526,218
down €526,218 (-40.4%), from €1.3m to €775,199
- Debts after one year -€288,307
down €288,307 (-29.8%), from €966,394 to €678,087
- Profit (loss) carried forward +€228,652
up €228,652 (+15.4%), from -€1.5m to -€1.3m
- Current portion of long-term debt -€83,296
down €83,296 (-21.8%), from €381,424 to €298,128
Income statement
- Services and other goods -€435,859
down €435,859 (-15.2%), from €2.9m to €2.4m
- Staff costs -€234,115
down €234,115 (-6.8%), from €3.4m to €3.2m
- Goods and materials -€146,901
down €146,901 (-3.3%), from €4.4m to €4.3m
of which Purchases: -€297,289
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.
Result 2024
-€503,496
Turnover
-€26,924
Other operating income
+€99,936
Goods and materials
+€146,901
Services and other goods
+€435,859
Staff costs
+€234,115
Depreciation
+€53,774
Write-downs
+€10,651
Provisions
-€3,750
Other operating charges
-€16,153
Other operating items
-€241,378
Financial income
+€1,022
Financial charges
+€38,275
Taxes
-€179
Result 2025
€228,652
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.
From operations
-€231,377
Investment
-€68,941
Financing
+€309,111
Cash 2024
€137,793
From operations (derived)
-€231,377
Net result for the year
+€228,652
Depreciation
+€381,607
Stocks and contracts
+€145,471
Receivables within one year
-€446,548
Deferred charges and accrued income
-€2,658
Provisions
+€3,750
Trade debts
-€526,218
Tax, wage and social debts
-€12,033
Advances received
-€2,198
Accrued charges and deferred income
-€1,202
Investment (derived)
-€68,941
Investment in fixed assets (net)
-€65,191
Current investments
-€3,750
Financing
+€309,111
Debts after one year
-€288,307
Current portion of long-term debt
-€83,296
Short-term financial debts
+€680,713
Cash 2025
€146,586
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,806,659 | €5,806,521 | -€138 | 0.0% |
| Fixed assets | 21/28 | €1,237,705 | €921,290 | -€316,416 | -25.6% |
| Intangible fixed assets | 21 | €15,943 | €7,342 | -€8,601 | -53.9% |
| Tangible fixed assets | 22/27 | €1,220,709 | €912,894 | -€307,815 | -25.2% |
| Land and buildings | 22 | €604,566 | €515,946 | -€88,620 | -14.7% |
| Plant, machinery and equipment | 23 | €98,063 | €76,396 | -€21,666 | -22.1% |
| Furniture and vehicles | 24 | €45,615 | €7,279 | -€38,336 | -84.0% |
| Leasing and similar rights | 25 | €472,465 | €313,273 | -€159,192 | -33.7% |
| Financial fixed assets | 28 | €1,054 | €1,054 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,054 | €1,054 | = | 0.0% |
| Shares | 284 | €1,054 | €1,054 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €0 | - | = | |
| Current assets | 29/58 | €4,568,953 | €4,885,231 | +€316,278 | +6.9% |
| Stocks and contracts in progress | 3 | €2,752,738 | €2,607,266 | -€145,471 | -5.3% |
| Stocks | 30/36 | €2,752,738 | €2,607,266 | -€145,471 | -5.3% |
| Raw materials and consumables | 30/31 | €785,676 | €639,674 | -€146,003 | -18.6% |
| Work in progress | 32 | €536,265 | €529,100 | -€7,165 | -1.3% |
| Finished goods | 33 | €1,428,536 | €1,415,822 | -€12,714 | -0.9% |
| Goods purchased for resale | 34 | €2,260 | €22,670 | +€20,410 | +903.1% |
| Amounts receivable within one year | 40/41 | €1,645,444 | €2,091,992 | +€446,548 | +27.1% |
| Trade receivables | 40 | €1,591,867 | €2,090,202 | +€498,334 | +31.3% |
| Other amounts receivable | 41 | €53,577 | €1,790 | -€51,786 | -96.7% |
| Current investments | 50/53 | - | €3,750 | +€3,750 | |
| Other investments | 51/53 | - | €3,750 | +€3,750 | |
| Cash at bank and in hand | 54/58 | €137,793 | €146,586 | +€8,793 | +6.4% |
| Deferred charges and accrued income | 490/1 | €32,978 | €35,637 | +€2,658 | +8.1% |
| Total equity and liabilities | 10/49 | €5,806,659 | €5,806,521 | -€138 | 0.0% |
| Equity | 10/15 | €440,765 | €669,418 | +€228,652 | +51.9% |
| Contributions | 10/11 | €686,913 | €686,913 | = | 0.0% |
| Capital | 10 | €686,913 | €686,913 | = | 0.0% |
| Issued capital | 100 | €686,913 | €686,913 | = | 0.0% |
| Reserves | 13 | €1,235,135 | €1,235,135 | = | 0.0% |
| Non-distributable reserves | 130/1 | €68,691 | €68,691 | = | 0.0% |
| Legal reserve | 130 | €68,691 | €68,691 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,789 | €24,789 | = | 0.0% |
| Distributable reserves | 133 | €1,141,654 | €1,141,654 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,481,282 | -€1,252,630 | +€228,652 | +15.4% |
| Provisions and deferred taxes | 16 | - | €3,750 | +€3,750 | |
| Provisions for liabilities and charges | 160/5 | - | €3,750 | +€3,750 | |
| Other liabilities and charges | 164/5 | - | €3,750 | +€3,750 | |
| Amounts payable | 17/49 | €5,365,893 | €5,133,353 | -€232,540 | -4.3% |
| Amounts payable after more than one year | 17 | €966,394 | €678,087 | -€288,307 | -29.8% |
| Financial debts | 170/4 | €966,394 | €678,087 | -€288,307 | -29.8% |
| Leasing and similar obligations | 172 | €341,275 | €177,437 | -€163,838 | -48.0% |
| Credit institutions | 173 | €625,118 | €500,650 | -€124,468 | -19.9% |
| Amounts payable within one year | 42/48 | €4,396,016 | €4,452,984 | +€56,968 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €381,424 | €298,128 | -€83,296 | -21.8% |
| Financial debts | 43 | €2,181,483 | €2,862,197 | +€680,713 | +31.2% |
| Credit institutions | 430/8 | €2,181,483 | €2,862,197 | +€680,713 | +31.2% |
| Trade debts | 44 | €1,301,417 | €775,199 | -€526,218 | -40.4% |
| Suppliers | 440/4 | €1,301,417 | €775,199 | -€526,218 | -40.4% |
| Advances received on contracts in progress | 46 | €9,468 | €7,270 | -€2,198 | -23.2% |
| Taxes, remuneration and social security | 45 | €522,224 | €510,190 | -€12,033 | -2.3% |
| Taxes | 450/3 | €95,568 | €103,684 | +€8,116 | +8.5% |
| Remuneration and social security | 454/9 | €426,656 | €406,507 | -€20,149 | -4.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €3,484 | €2,282 | -€1,202 | -34.5% |
| Operating income | 70/76A | €10,831,958 | €10,663,533 | -€168,425 | -1.6% |
| Turnover | 70 | €10,384,445 | €10,357,521 | -€26,924 | -0.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €83,082 | -€19,879 | -€102,961 | |
| Other operating income | 74 | €225,955 | €325,891 | +€99,936 | +44.2% |
| Non-recurring operating income | 76A | €138,476 | €0 | -€138,476 | -100.0% |
| Operating charges | 60/66A | €11,178,283 | €10,316,828 | -€861,455 | -7.7% |
| Goods for resale, raw materials and consumables | 60 | €4,425,130 | €4,278,229 | -€146,901 | -3.3% |
| Purchases | 600/8 | €4,449,926 | €4,152,637 | -€297,289 | -6.7% |
| Change in stocks: decrease (increase) | 609 | -€24,796 | €125,592 | +€150,388 | |
| Services and other goods | 61 | €2,866,610 | €2,430,751 | -€435,859 | -15.2% |
| Remuneration, social security and pensions | 62 | €3,421,275 | €3,187,160 | -€234,115 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €435,380 | €381,607 | -€53,774 | -12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,777 | -€15,428 | -€10,651 | -223.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €3,750 | +€3,750 | |
| Other operating charges | 640/8 | €5,827 | €21,980 | +€16,153 | +277.2% |
| Non-recurring operating charges | 66A | €28,837 | €28,778 | -€59 | -0.2% |
| Operating profit (loss) | 9901 | -€346,325 | €346,705 | +€693,031 | |
| Financial income | 75/76B | €21,981 | €23,003 | +€1,022 | +4.6% |
| Recurring financial income | 75 | €21,981 | €23,003 | +€1,022 | +4.6% |
| Income from current assets | 751 | €12,842 | €0 | -€12,842 | -100.0% |
| Other financial income | 752/9 | €9,139 | €23,003 | +€13,864 | +151.7% |
| Financial charges | 65/66B | €178,430 | €140,155 | -€38,275 | -21.5% |
| Recurring financial charges | 65 | €178,430 | €140,155 | -€38,275 | -21.5% |
| Debt charges | 650 | €166,556 | €128,479 | -€38,078 | -22.9% |
| Other financial charges | 652/9 | €11,873 | €11,676 | -€197 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | -€502,774 | €229,554 | +€732,328 | |
| Income taxes | 67/77 | €723 | €902 | +€179 | +24.8% |
| Taxes | 670/3 | €723 | €902 | +€179 | +24.8% |
| Profit (loss) for the period | 9904 | -€503,496 | €228,652 | +€732,149 | |
| Profit (loss) for the period to be appropriated | 9905 | -€503,496 | €228,652 | +€732,149 |
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 5 October 2026 via checked.be.