BF PROJECT: 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.
BF PROJECT
Largest movements
- Receivables within one year +€210,941
up €210,941 (+286.7%), from €73,582 to €284,523
of which Other amounts receivable: +€111,064
- Trade debts +€212,146
up €212,146 (+2135.3%), from €9,935 to €222,081
- Other debts -€26,285
no longer reported in 2025 (was €26,285)
- Profit (loss) carried forward +€19,079
up €19,079 (+57.2%), from €33,352 to €52,431
- Tax, wage and social debts +€6,186
up €6,186 (+72.3%), from €8,552 to €14,738
- Turnover -€249,770
no longer reported in 2025 (was €249,770)
- Purchases and services -€209,458
no longer reported in 2025 (was €209,458)
- Gross operating margin -€12,019
down €12,019 (-28.5%), from €42,174 to €30,155
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 | €80,624 | €291,750 | +€211,126 | +261.9% |
| Fixed assets | 21/28 | €6,939 | €4,584 | -€2,355 | -33.9% |
| Tangible fixed assets | 22/27 | €6,939 | €4,584 | -€2,355 | -33.9% |
| Furniture and vehicles | 24 | €6,939 | €4,584 | -€2,355 | -33.9% |
| Current assets | 29/58 | €73,685 | €287,166 | +€213,481 | +289.7% |
| Amounts receivable within one year | 40/41 | €73,582 | €284,523 | +€210,941 | +286.7% |
| Trade receivables | 40 | €71,642 | €171,519 | +€99,877 | +139.4% |
| Other amounts receivable | 41 | €1,939 | €113,004 | +€111,064 | +5726.5% |
| Cash at bank and in hand | 54/58 | €104 | €2,644 | +€2,540 | +2449.3% |
| Total equity and liabilities | 10/49 | €80,624 | €291,750 | +€211,126 | +261.9% |
| Equity | 10/15 | €35,852 | €54,931 | +€19,079 | +53.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,352 | €52,431 | +€19,079 | +57.2% |
| Amounts payable | 17/49 | €44,772 | €236,819 | +€192,047 | +428.9% |
| Amounts payable within one year | 42/48 | €44,772 | €236,819 | +€192,047 | +428.9% |
| Trade debts | 44 | €9,935 | €222,081 | +€212,146 | +2135.3% |
| Suppliers | 440/4 | €9,935 | €222,081 | +€212,146 | +2135.3% |
| Taxes, remuneration and social security | 45 | €8,552 | €14,738 | +€6,186 | +72.3% |
| Taxes | 450/3 | €8,552 | €14,738 | +€6,186 | +72.3% |
| Other amounts payable | 47/48 | €26,285 | - | -€26,285 | |
| Turnover | 70 | €249,770 | - | -€249,770 | |
| Non-recurring operating income | 76A | €1,862 | €8,317 | +€6,455 | +346.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €209,458 | - | -€209,458 | |
| Remuneration, social security and pensions | 62 | €115 | €450 | +€335 | +291.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126 | €2,355 | +€2,229 | +1769.9% |
| Other operating charges | 640/8 | - | €18 | +€18 | |
| Gross operating margin | 9900 | €42,174 | €30,155 | -€12,019 | -28.5% |
| Operating profit (loss) | 9901 | €41,933 | €27,333 | -€14,601 | -34.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €29 | €2,068 | +€2,038 | +6933.6% |
| Recurring financial charges | 65 | €29 | €2,068 | +€2,038 | +6933.6% |
| Profit (loss) for the period before taxes | 9903 | €41,904 | €25,265 | -€16,640 | -39.7% |
| Income taxes | 67/77 | €8,552 | €6,186 | -€2,367 | -27.7% |
| Profit (loss) for the period | 9904 | €33,352 | €19,079 | -€14,273 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €33,352 | €19,079 | -€14,273 | -42.8% |
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.