BEDROCK: 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.
BEDROCK
Largest movements
- Receivables after one year -€98,000
no longer reported in 2025 (was €98,000)
- Cash -€89,569
down €89,569 (-32.1%), from €279,285 to €189,716
mainly Other debts (-€124,858) and Tax, wage and social debts (-€50,463)
- Receivables within one year -€14,371
down €14,371 (-76.9%), from €18,695 to €4,324
of which Trade receivables: -€18,090
- Stocks and contracts +€14,263
up €14,263 (+64.2%), from €22,205 to €36,469
- Tangible fixed assets +€7,793
up €7,793 (+687.6%), from €1,133 to €8,927
of which Other tangible fixed assets: +€7,298
- Other debts -€124,858
down €124,858 (-98.1%), from €127,220 to €2,362
- Tax, wage and social debts -€50,463
down €50,463 (-89.8%), from €56,198 to €5,734
of which Taxes: -€50,303
- Debts after one year -€26,231
down €26,231 (-69.9%), from €37,517 to €11,286
- Reserves +€13,500
up €13,500 (+7.6%), from €176,500 to €190,000
- Gross operating margin -€112,569
down €112,569 (-83.5%), from €134,824 to €22,256
- Financial income -€53,589
down €53,589 (-97.6%), from €54,925 to €1,336
of which Non-recurring financial income: -€51,715
- Taxes -€41,436
down €41,436 (-89.6%), from €46,271 to €4,834
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €425,279 | €242,767 | -€182,512 | -42.9% |
| Fixed assets | 21/28 | €1,133 | €8,927 | +€7,793 | +687.6% |
| Tangible fixed assets | 22/27 | €1,133 | €8,927 | +€7,793 | +687.6% |
| Furniture and vehicles | 24 | €1,133 | €1,629 | +€495 | +43.7% |
| Other tangible fixed assets | 26 | - | €7,298 | +€7,298 | |
| Current assets | 29/58 | €424,145 | €233,840 | -€190,305 | -44.9% |
| Amounts receivable after more than one year | 29 | €98,000 | - | -€98,000 | |
| Other amounts receivable | 291 | €98,000 | - | -€98,000 | |
| Stocks and contracts in progress | 3 | €22,205 | €36,469 | +€14,263 | +64.2% |
| Stocks | 30/36 | €22,205 | €36,469 | +€14,263 | +64.2% |
| Amounts receivable within one year | 40/41 | €18,695 | €4,324 | -€14,371 | -76.9% |
| Trade receivables | 40 | €18,695 | €605 | -€18,090 | -96.8% |
| Other amounts receivable | 41 | - | €3,719 | +€3,719 | |
| Cash at bank and in hand | 54/58 | €279,285 | €189,716 | -€89,569 | -32.1% |
| Deferred charges and accrued income | 490/1 | €5,961 | €3,332 | -€2,629 | -44.1% |
| Total equity and liabilities | 10/49 | €425,279 | €242,767 | -€182,512 | -42.9% |
| Equity | 10/15 | €177,614 | €191,424 | +€13,810 | +7.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €176,500 | €190,000 | +€13,500 | +7.6% |
| Distributable reserves | 133 | €176,500 | €190,000 | +€13,500 | +7.6% |
| Profit (loss) carried forward | 14 | €114 | €424 | +€310 | +273.3% |
| Amounts payable | 17/49 | €247,665 | €51,343 | -€196,322 | -79.3% |
| Amounts payable after more than one year | 17 | €37,517 | €11,286 | -€26,231 | -69.9% |
| Financial debts | 170/4 | €37,517 | €11,286 | -€26,231 | -69.9% |
| Amounts payable within one year | 42/48 | €210,082 | €39,990 | -€170,092 | -81.0% |
| Current portion of amounts payable after more than one year | 42 | €25,068 | €26,231 | +€1,163 | +4.6% |
| Trade debts | 44 | €1,596 | €5,663 | +€4,067 | +254.8% |
| Suppliers | 440/4 | €1,596 | €5,663 | +€4,067 | +254.8% |
| Taxes, remuneration and social security | 45 | €56,198 | €5,734 | -€50,463 | -89.8% |
| Taxes | 450/3 | €56,038 | €5,734 | -€50,303 | -89.8% |
| Remuneration and social security | 454/9 | €160 | - | -€160 | |
| Other amounts payable | 47/48 | €127,220 | €2,362 | -€124,858 | -98.1% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €693 | €1,812 | +€1,119 | +161.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €134,824 | €22,256 | -€112,569 | -83.5% |
| Operating profit (loss) | 9901 | €133,744 | €20,044 | -€113,700 | -85.0% |
| Financial income | 75/76B | €54,925 | €1,336 | -€53,589 | -97.6% |
| Recurring financial income | 75 | €3,210 | €1,336 | -€1,874 | -58.4% |
| Non-recurring financial income | 76B | €51,715 | - | -€51,715 | |
| Financial charges | 65/66B | €3,636 | €2,735 | -€901 | -24.8% |
| Recurring financial charges | 65 | €3,636 | €2,735 | -€901 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €185,033 | €18,645 | -€166,388 | -89.9% |
| Income taxes | 67/77 | €46,271 | €4,834 | -€41,436 | -89.6% |
| Profit (loss) for the period | 9904 | €138,762 | €13,810 | -€124,952 | -90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €138,762 | €13,810 | -€124,952 | -90.0% |
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 7 October 2026 via checked.be.