BfactorN: 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.
BfactorN
Largest movements
- Cash -€27,384
down €27,384 (-37.0%), from €73,951 to €46,566
mainly Contributions, distributions and other (-€137,901) and Other debts (-€34,909)
- Tangible fixed assets +€6,116
up €6,116 (+18.9%), from €32,323 to €38,439
of which Furniture and vehicles: +€3,768
- Receivables within one year -€5,863
down €5,863 (-9.3%), from €63,156 to €57,293
of which Trade receivables: -€7,711
- Other debts -€34,909
down €34,909 (-31.9%), from €109,482 to €74,573
- Tax, wage and social debts +€15,708
up €15,708 (+40.4%), from €38,855 to €54,563
- Trade debts -€8,626
down €8,626 (-84.8%), from €10,175 to €1,549
- Gross operating margin -€46,704
down €46,704 (-19.7%), from €237,004 to €190,300
- Taxes -€12,738
down €12,738 (-23.8%), from €53,586 to €40,848
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 | €169,430 | €142,298 | -€27,132 | -16.0% |
| Fixed assets | 21/28 | €32,323 | €38,439 | +€6,116 | +18.9% |
| Tangible fixed assets | 22/27 | €32,323 | €38,439 | +€6,116 | +18.9% |
| Furniture and vehicles | 24 | €3,762 | €7,530 | +€3,768 | +100.2% |
| Other tangible fixed assets | 26 | €28,561 | €30,909 | +€2,348 | +8.2% |
| Current assets | 29/58 | €137,106 | €103,859 | -€33,247 | -24.2% |
| Amounts receivable within one year | 40/41 | €63,156 | €57,293 | -€5,863 | -9.3% |
| Trade receivables | 40 | €59,851 | €52,140 | -€7,711 | -12.9% |
| Other amounts receivable | 41 | €3,305 | €5,152 | +€1,848 | +55.9% |
| Cash at bank and in hand | 54/58 | €73,951 | €46,566 | -€27,384 | -37.0% |
| Total equity and liabilities | 10/49 | €169,430 | €142,298 | -€27,132 | -16.0% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €164,430 | €137,298 | -€27,132 | -16.5% |
| Amounts payable within one year | 42/48 | €164,430 | €137,298 | -€27,132 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €5,917 | €6,613 | +€696 | +11.8% |
| Trade debts | 44 | €10,175 | €1,549 | -€8,626 | -84.8% |
| Suppliers | 440/4 | €10,175 | €1,549 | -€8,626 | -84.8% |
| Taxes, remuneration and social security | 45 | €38,855 | €54,563 | +€15,708 | +40.4% |
| Taxes | 450/3 | €38,855 | €54,563 | +€15,708 | +40.4% |
| Other amounts payable | 47/48 | €109,482 | €74,573 | -€34,909 | -31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,532 | €8,324 | +€1,792 | +27.4% |
| Other operating charges | 640/8 | €387 | €1,678 | +€1,291 | +333.3% |
| Gross operating margin | 9900 | €237,004 | €190,300 | -€46,704 | -19.7% |
| Operating profit (loss) | 9901 | €230,084 | €180,297 | -€49,787 | -21.6% |
| Financial charges | 65/66B | €947 | €1,549 | +€601 | +63.5% |
| Recurring financial charges | 65 | €947 | €1,549 | +€601 | +63.5% |
| Profit (loss) for the period before taxes | 9903 | €229,137 | €178,749 | -€50,388 | -22.0% |
| Income taxes | 67/77 | €53,586 | €40,848 | -€12,738 | -23.8% |
| Profit (loss) for the period | 9904 | €175,551 | €137,901 | -€37,650 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €175,551 | €137,901 | -€37,650 | -21.4% |
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.