BF-FUTURE: 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
BF-FUTURE
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€30,039
2024 · -€20,114+€50,153
Equity
€1.0m
2024 · €1.0m+€28,373
Cash
€99,265
2024 · €113,367-€14,102
Balance sheet total
€1.7m
2024 · €1.8m-€129,485
Largest movements
Assets
- Tangible fixed assets -€91,750
down €91,750 (-5.5%), from €1.7m to €1.6m
of which Leasing and similar rights: -€907,483
Equity and liabilities
- Other debts -€64,614
down €64,614 (-18.3%), from €352,448 to €287,834
- Provisions -€57,070
down €57,070 (-31.1%), from €183,443 to €126,373
- Debts after one year -€51,410
down €51,410 (-30.9%), from €166,604 to €115,193
- Reserves +€28,373
up €28,373 (+2.9%), from €986,391 to €1.0m
of which Tax-exempt reserves: +€22,864
Income statement
- Other operating charges -€9,491
down €9,491 (-45.2%), from €21,001 to €11,510
- Financial charges -€7,783
down €7,783 (-22.1%), from €35,211 to €27,428
- Financial income -€6,520
down €6,520 (-89.7%), from €7,272 to €752
- Gross operating margin -€4,778
down €4,778 (-3.5%), from €134,626 to €129,848
- Depreciation +€2,448
up €2,448 (+2.3%), from €104,834 to €107,282
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
-€20,114
Gross operating margin
-€4,778
Staff costs
+€1,942
Depreciation
-€2,448
Other operating charges
+€9,491
Financial income
-€6,520
Financial charges
+€7,783
Taxes
-€520
Deferred taxes and other
+€45,203
Result 2025
€30,039
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
+€38,421
Investment
-€5,503
Financing
-€47,020
Cash 2024
€113,367
From operations (derived)
+€38,421
Net result for the year
+€30,039
Depreciation
+€107,282
Receivables within one year
+€17,547
Deferred charges and accrued income
-€3,943
Provisions
-€57,070
Trade debts
+€4,064
Tax, wage and social debts
+€5,116
Other debts
-€64,614
Investment (derived)
-€5,503
Investment in fixed assets (net)
-€5,503
Financing
-€47,020
Debts after one year
-€51,410
Current portion of long-term debt
+€6,056
Contributions, distributions and other
-€1,666
Cash 2025
€99,265
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,802,032 | €1,672,547 | -€129,485 | -7.2% |
| Fixed assets | 21/28 | €1,666,444 | €1,564,665 | -€101,779 | -6.1% |
| Tangible fixed assets | 22/27 | €1,656,415 | €1,564,665 | -€91,750 | -5.5% |
| Land and buildings | 22 | €599,762 | €1,397,292 | +€797,530 | +133.0% |
| Plant, machinery and equipment | 23 | €38,827 | €38,595 | -€231 | -0.6% |
| Furniture and vehicles | 24 | €107,537 | €126,637 | +€19,100 | +17.8% |
| Leasing and similar rights | 25 | €907,483 | - | -€907,483 | |
| Other tangible fixed assets | 26 | €2,806 | €2,140 | -€665 | -23.7% |
| Financial fixed assets | 28 | €10,029 | - | -€10,029 | |
| Current assets | 29/58 | €135,588 | €107,882 | -€27,706 | -20.4% |
| Amounts receivable within one year | 40/41 | €22,221 | €4,674 | -€17,547 | -79.0% |
| Trade receivables | 40 | - | €3,459 | +€3,459 | |
| Other amounts receivable | 41 | €22,221 | €1,215 | -€21,006 | -94.5% |
| Cash at bank and in hand | 54/58 | €113,367 | €99,265 | -€14,102 | -12.4% |
| Deferred charges and accrued income | 490/1 | - | €3,943 | +€3,943 | |
| Total equity and liabilities | 10/49 | €1,802,032 | €1,672,547 | -€129,485 | -7.2% |
| Equity | 10/15 | €1,004,991 | €1,033,364 | +€28,373 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €986,391 | €1,014,764 | +€28,373 | +2.9% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €356,254 | €379,119 | +€22,864 | +6.4% |
| Distributable reserves | 133 | €628,276 | €635,645 | +€7,369 | +1.2% |
| Provisions and deferred taxes | 16 | €183,443 | €126,373 | -€57,070 | -31.1% |
| Deferred taxes | 168 | €183,443 | €126,373 | -€57,070 | -31.1% |
| Amounts payable | 17/49 | €613,598 | €512,810 | -€100,788 | -16.4% |
| Amounts payable after more than one year | 17 | €166,604 | €115,193 | -€51,410 | -30.9% |
| Financial debts | 170/4 | €166,604 | €115,193 | -€51,410 | -30.9% |
| Amounts payable within one year | 42/48 | €446,994 | €397,617 | -€49,377 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €72,961 | €79,017 | +€6,056 | +8.3% |
| Trade debts | 44 | €10,893 | €14,957 | +€4,064 | +37.3% |
| Suppliers | 440/4 | €10,893 | €14,957 | +€4,064 | +37.3% |
| Taxes, remuneration and social security | 45 | €10,693 | €15,808 | +€5,116 | +47.8% |
| Taxes | 450/3 | €10,693 | €15,808 | +€5,116 | +47.8% |
| Other amounts payable | 47/48 | €352,448 | €287,834 | -€64,614 | -18.3% |
| Non-recurring operating income | 76A | €31,000 | €13,344 | -€17,656 | -57.0% |
| Remuneration, social security and pensions | 62 | €1,942 | - | -€1,942 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,834 | €107,282 | +€2,448 | +2.3% |
| Other operating charges | 640/8 | €21,001 | €11,510 | -€9,491 | -45.2% |
| Gross operating margin | 9900 | €134,626 | €129,848 | -€4,778 | -3.5% |
| Operating profit (loss) | 9901 | €6,849 | €11,056 | +€4,207 | +61.4% |
| Financial income | 75/76B | €7,272 | €752 | -€6,520 | -89.7% |
| Recurring financial income | 75 | €7,272 | €752 | -€6,520 | -89.7% |
| Financial charges | 65/66B | €35,211 | €27,428 | -€7,783 | -22.1% |
| Recurring financial charges | 65 | €35,211 | €27,428 | -€7,783 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | -€21,090 | -€15,620 | +€5,470 | +25.9% |
| Transfer from deferred taxes | 780 | €11,868 | €57,070 | +€45,203 | +380.9% |
| Income taxes | 67/77 | €10,891 | €11,411 | +€520 | +4.8% |
| Profit (loss) for the period | 9904 | -€20,114 | €30,039 | +€50,153 | |
| Transfer from tax-exempt reserves | 789 | €23,048 | €25,655 | +€2,607 | +11.3% |
| Transfer to tax-exempt reserves | 689 | - | €48,519 | +€48,519 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,934 | €7,175 | +€4,241 | +144.6% |
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 9 October 2026 via checked.be.