BEDMAN: 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.
BEDMAN
Largest movements
- Receivables within one year +€13,958
up €13,958 (+325.3%), from €4,291 to €18,249
- Tangible fixed assets +€8,955
new in 2026: €8,955
of which Plant, machinery and equipment: +€5,626
- Cash -€6,318
down €6,318 (-96.9%), from €6,522 to €204
mainly Debts after one year (-€54,600) and Contributions, distributions and other (-€22,000)
- Debts after one year -€54,600
down €54,600 (-54.8%), from €99,579 to €44,979
- Profit (loss) carried forward +€33,257
up €33,257 (+29.8%), from €111,548 to €144,804
- Other debts +€23,941
up €23,941 (+10.9%), from €218,662 to €242,603
- Trade debts +€9,004
up €9,004 (+549.7%), from €1,638 to €10,642
- Gross operating margin +€37,270
up €37,270 (+103.7%), from €35,937 to €73,206
- Taxes +€6,427
up €6,427 (+108.9%), from €5,903 to €12,330
- Depreciation +€971
new in 2026: €971
- Financial charges -€745
down €745 (-15.3%), from €4,873 to €4,129
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €510,312 | €526,908 | +€16,596 | +3.3% |
| Fixed assets | 21/28 | €499,500 | €508,455 | +€8,955 | +1.8% |
| Tangible fixed assets | 22/27 | - | €8,955 | +€8,955 | |
| Plant, machinery and equipment | 23 | - | €5,626 | +€5,626 | |
| Furniture and vehicles | 24 | - | €3,329 | +€3,329 | |
| Financial fixed assets | 28 | €499,500 | €499,500 | = | 0.0% |
| Current assets | 29/58 | €10,812 | €18,453 | +€7,640 | +70.7% |
| Amounts receivable within one year | 40/41 | €4,291 | €18,249 | +€13,958 | +325.3% |
| Other amounts receivable | 41 | €4,291 | €18,249 | +€13,958 | +325.3% |
| Cash at bank and in hand | 54/58 | €6,522 | €204 | -€6,318 | -96.9% |
| Total equity and liabilities | 10/49 | €510,312 | €526,908 | +€16,596 | +3.3% |
| Equity | 10/15 | €131,548 | €164,804 | +€33,257 | +25.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,548 | €144,804 | +€33,257 | +29.8% |
| Amounts payable | 17/49 | €378,765 | €362,104 | -€16,661 | -4.4% |
| Amounts payable after more than one year | 17 | €99,579 | €44,979 | -€54,600 | -54.8% |
| Financial debts | 170/4 | €99,579 | €44,979 | -€54,600 | -54.8% |
| Amounts payable within one year | 42/48 | €279,186 | €317,126 | +€37,940 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €54,600 | €54,600 | = | 0.0% |
| Trade debts | 44 | €1,638 | €10,642 | +€9,004 | +549.7% |
| Suppliers | 440/4 | €1,638 | €10,642 | +€9,004 | +549.7% |
| Taxes, remuneration and social security | 45 | €4,286 | €9,281 | +€4,995 | +116.5% |
| Taxes | 450/3 | €4,286 | €9,281 | +€4,995 | +116.5% |
| Other amounts payable | 47/48 | €218,662 | €242,603 | +€23,941 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €971 | +€971 | |
| Other operating charges | 640/8 | €490 | €520 | +€30 | +6.0% |
| Gross operating margin | 9900 | €35,937 | €73,206 | +€37,270 | +103.7% |
| Operating profit (loss) | 9901 | €35,446 | €71,715 | +€36,269 | +102.3% |
| Financial income | 75/76B | €473 | - | -€473 | |
| Recurring financial income | 75 | €473 | - | -€473 | |
| Financial charges | 65/66B | €4,873 | €4,129 | -€745 | -15.3% |
| Recurring financial charges | 65 | €4,873 | €4,129 | -€745 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €31,046 | €67,586 | +€36,540 | +117.7% |
| Income taxes | 67/77 | €5,903 | €12,330 | +€6,427 | +108.9% |
| Profit (loss) for the period | 9904 | €25,143 | €55,257 | +€30,113 | +119.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,143 | €55,257 | +€30,113 | +119.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.