BFA Management: 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.
BFA Management
Largest movements
- Cash +€82,122
up €82,122 (+37,521%), from €219 to €82,341
mainly Net result for the year (+€136,422) and Tax, wage and social debts (+€26,228)
- Receivables after one year +€60,000
new in 2025: €60,000
- Receivables within one year +€13,154
up €13,154, from €0 to €13,154
of which Trade receivables: +€12,604
- Profit (loss) carried forward +€136,422
up €136,422, from -€71,050 to €65,373
- Tax, wage and social debts +€26,228
up €26,228 (+488%), from €5,376 to €31,604
- Other debts -€7,134
down €7,134 (-17.2%), from €41,472 to €34,338
- Gross operating margin +€56,116
up €56,116 (+55.0%), from €102,083 to €158,199
- Taxes +€20,842
up €20,842, from €0 to €20,842
- Write-downs -€3,110
down €3,110 (-100%), from €3,110 to €0
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 | €786 | €155,915 | +€155,129 | +19,745% |
| Fixed assets | 21/28 | €567 | €420 | -€147 | -25.9% |
| Tangible fixed assets | 22/27 | €567 | €420 | -€147 | -25.9% |
| Plant, machinery and equipment | 23 | €227 | €117 | -€110 | -48.5% |
| Furniture and vehicles | 24 | €340 | €303 | -€37 | -10.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €219 | €155,495 | +€155,276 | +70,944% |
| Amounts receivable after more than one year | 29 | - | €60,000 | +€60,000 | |
| Other amounts receivable | 291 | - | €60,000 | +€60,000 | |
| Amounts receivable within one year | 40/41 | €0 | €13,154 | +€13,154 | |
| Trade receivables | 40 | €0 | €12,604 | +€12,604 | |
| Other amounts receivable | 41 | €0 | €550 | +€550 | |
| Cash at bank and in hand | 54/58 | €219 | €82,341 | +€82,122 | +37,521% |
| Total equity and liabilities | 10/49 | €786 | €155,915 | +€155,129 | +19,745% |
| Equity | 10/15 | -€52,450 | €83,973 | +€136,422 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,050 | €65,373 | +€136,422 | |
| Amounts payable | 17/49 | €53,235 | €71,942 | +€18,707 | +35.1% |
| Amounts payable after more than one year | 17 | €6,000 | €6,000 | = | 0.0% |
| Financial debts | 170/4 | €6,000 | €6,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €47,235 | €65,942 | +€18,707 | +39.6% |
| Trade debts | 44 | €387 | €0 | -€387 | -100% |
| Suppliers | 440/4 | €387 | €0 | -€387 | -100% |
| Taxes, remuneration and social security | 45 | €5,376 | €31,604 | +€26,228 | +488% |
| Taxes | 450/3 | €5,376 | €31,604 | +€26,228 | +488% |
| Other amounts payable | 47/48 | €41,472 | €34,338 | -€7,134 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131 | €147 | +€16 | +12.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,110 | €0 | -€3,110 | -100% |
| Other operating charges | 640/8 | €1,387 | €1,658 | +€271 | +19.5% |
| Gross operating margin | 9900 | €102,083 | €158,199 | +€56,116 | +55.0% |
| Operating profit (loss) | 9901 | €97,455 | €156,394 | +€58,939 | +60.5% |
| Financial income | 75/76B | - | €1,492 | +€1,492 | |
| Recurring financial income | 75 | - | €1,492 | +€1,492 | |
| Financial charges | 65/66B | €520 | €622 | +€102 | +19.7% |
| Recurring financial charges | 65 | €520 | €622 | +€102 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €96,936 | €157,264 | +€60,328 | +62.2% |
| Income taxes | 67/77 | €0 | €20,842 | +€20,842 | |
| Profit (loss) for the period | 9904 | €96,936 | €136,422 | +€39,487 | +40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €96,936 | €136,422 | +€39,487 | +40.7% |
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 28 October 2026 via checked.be.