BF Invest: 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.
BF Invest
Largest movements
- Tangible fixed assets -€336,152
down €336,152 (-99.2%), from €338,780 to €2,628
of which Land and buildings: -€324,643
- Cash +€210,069
up €210,069 (+326%), from €64,395 to €274,464
mainly Investment in fixed assets (net) (+€333,967) and Net result for the year (+€64,789)
- Receivables within one year -€27,373
down €27,373 (-46.6%), from €58,751 to €31,378
of which Other amounts receivable: -€27,063
- Debts after one year -€185,544
down €185,544 (-100%), from €185,544 to €0
- Reserves +€64,789
up €64,789 (+65.1%), from €99,531 to €164,320
- Current portion of long-term debt -€31,192
down €31,192 (-100%), from €31,192 to €0
- Depreciation -€47,149
down €47,149 (-95.6%), from €49,334 to €2,184
- Gross operating margin +€46,083
up €46,083 (+77.1%), from €59,755 to €105,838
- Taxes +€29,812
up €29,812 (+5,457%), from €546 to €30,358
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 | €463,274 | €308,617 | -€154,656 | -33.4% |
| Fixed assets | 21/28 | €338,780 | €2,628 | -€336,152 | -99.2% |
| Tangible fixed assets | 22/27 | €338,780 | €2,628 | -€336,152 | -99.2% |
| Land and buildings | 22 | €324,643 | €0 | -€324,643 | -100% |
| Plant, machinery and equipment | 23 | €3,961 | €2,628 | -€1,332 | -33.6% |
| Furniture and vehicles | 24 | €10,176 | €0 | -€10,176 | -100% |
| Current assets | 29/58 | €124,494 | €305,989 | +€181,495 | +146% |
| Amounts receivable within one year | 40/41 | €58,751 | €31,378 | -€27,373 | -46.6% |
| Trade receivables | 40 | €310 | €0 | -€310 | -100% |
| Other amounts receivable | 41 | €58,441 | €31,378 | -€27,063 | -46.3% |
| Cash at bank and in hand | 54/58 | €64,395 | €274,464 | +€210,069 | +326% |
| Deferred charges and accrued income | 490/1 | €1,349 | €148 | -€1,201 | -89.0% |
| Total equity and liabilities | 10/49 | €463,274 | €308,617 | -€154,656 | -33.4% |
| Equity | 10/15 | €232,929 | €297,717 | +€64,789 | +27.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,531 | €164,320 | +€64,789 | +65.1% |
| Distributable reserves | 133 | €99,531 | €164,320 | +€64,789 | +65.1% |
| Profit (loss) carried forward | 14 | €114,798 | €114,798 | = | 0.0% |
| Amounts payable | 17/49 | €230,345 | €10,900 | -€219,445 | -95.3% |
| Amounts payable after more than one year | 17 | €185,544 | €0 | -€185,544 | -100% |
| Financial debts | 170/4 | €185,544 | €0 | -€185,544 | -100% |
| Amounts payable within one year | 42/48 | €42,890 | €10,900 | -€31,990 | -74.6% |
| Current portion of amounts payable after more than one year | 42 | €31,192 | €0 | -€31,192 | -100% |
| Trade debts | 44 | €1,033 | €2,339 | +€1,306 | +126% |
| Suppliers | 440/4 | €1,033 | €2,339 | +€1,306 | +126% |
| Taxes, remuneration and social security | 45 | €6,636 | €5,296 | -€1,340 | -20.2% |
| Taxes | 450/3 | €6,636 | €5,296 | -€1,340 | -20.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,028 | €3,265 | -€763 | -19.0% |
| Accrued charges and deferred income | 492/3 | €1,912 | €0 | -€1,912 | -100% |
| Non-recurring operating income | 76A | €0 | €111,169 | +€111,169 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,334 | €2,184 | -€47,149 | -95.6% |
| Other operating charges | 640/8 | €4,356 | €3,726 | -€630 | -14.5% |
| Non-recurring operating charges | 66A | - | €288 | +€288 | |
| Gross operating margin | 9900 | €59,755 | €105,838 | +€46,083 | +77.1% |
| Operating profit (loss) | 9901 | €6,065 | €99,640 | +€93,575 | +1,543% |
| Financial income | 75/76B | €1,230 | €520 | -€710 | -57.7% |
| Recurring financial income | 75 | €1,230 | €520 | -€710 | -57.7% |
| Financial charges | 65/66B | €4,768 | €5,013 | +€246 | +5.2% |
| Recurring financial charges | 65 | €4,768 | €5,013 | +€246 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €2,527 | €95,146 | +€92,619 | +3,665% |
| Income taxes | 67/77 | €546 | €30,358 | +€29,812 | +5,457% |
| Profit (loss) for the period | 9904 | €1,981 | €64,789 | +€62,808 | +3,170% |
| Profit (loss) for the period to be appropriated | 9905 | €1,981 | €64,789 | +€62,808 | +3,170% |
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 29 October 2026 via checked.be.