BFD-MONTAGE: 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.
BFD-MONTAGE
Largest movements
- Receivables within one year -€12,935
down €12,935 (-22.8%), from €56,772 to €43,837
of which Trade receivables: -€13,600
- Tangible fixed assets +€3,593
up €3,593 (+921%), from €390 to €3,983
of which Furniture and vehicles: +€3,723
- Profit (loss) carried forward -€11,618
down €11,618 (-1,048%), from -€1,109 to -€12,727
- Trade debts +€9,006
up €9,006 (+59.6%), from €15,112 to €24,118
- Other debts -€3,762
down €3,762 (-93.6%), from €4,020 to €258
- Tax, wage and social debts -€3,150
down €3,150 (-41.1%), from €7,666 to €4,516
of which Taxes: -€2,834
- Gross operating margin -€20,268
down €20,268 (-45.0%), from €45,010 to €24,742
- Staff costs -€3,722
down €3,722 (-9.4%), from €39,395 to €35,673
- Taxes -€2,834
no longer reported in 2025 (was €2,834)
- Financial charges -€491
down €491 (-74.8%), from €656 to €165
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 | €110,109 | €100,586 | -€9,524 | -8.6% |
| Fixed assets | 21/28 | €390 | €3,983 | +€3,593 | +921% |
| Tangible fixed assets | 22/27 | €390 | €3,983 | +€3,593 | +921% |
| Land and buildings | 22 | €390 | €260 | -€130 | -33.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €3,723 | +€3,723 | |
| Current assets | 29/58 | €109,719 | €96,602 | -€13,117 | -12.0% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Trade receivables | 290 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €56,772 | €43,837 | -€12,935 | -22.8% |
| Trade receivables | 40 | €55,970 | €42,370 | -€13,600 | -24.3% |
| Other amounts receivable | 41 | €801 | €1,467 | +€665 | +83.0% |
| Cash at bank and in hand | 54/58 | €4,089 | €3,783 | -€305 | -7.5% |
| Deferred charges and accrued income | 490/1 | €3,859 | €3,982 | +€123 | +3.2% |
| Total equity and liabilities | 10/49 | €110,109 | €100,586 | -€9,524 | -8.6% |
| Equity | 10/15 | €74,262 | €62,644 | -€11,618 | -15.6% |
| Contributions | 10/11 | €18,964 | €18,964 | = | 0.0% |
| Reserves | 13 | €56,407 | €56,407 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,896 | €37,896 | = | 0.0% |
| Reserves not available under the articles | 1311 | €37,896 | €37,896 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,411 | €4,411 | = | 0.0% |
| Distributable reserves | 133 | €14,100 | €14,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,109 | -€12,727 | -€11,618 | -1,048% |
| Amounts payable | 17/49 | €35,847 | €37,941 | +€2,094 | +5.8% |
| Amounts payable within one year | 42/48 | €26,797 | €28,891 | +€2,094 | +7.8% |
| Trade debts | 44 | €15,112 | €24,118 | +€9,006 | +59.6% |
| Suppliers | 440/4 | €15,112 | €24,118 | +€9,006 | +59.6% |
| Taxes, remuneration and social security | 45 | €7,666 | €4,516 | -€3,150 | -41.1% |
| Taxes | 450/3 | €2,834 | - | -€2,834 | |
| Remuneration and social security | 454/9 | €4,831 | €4,516 | -€316 | -6.5% |
| Other amounts payable | 47/48 | €4,020 | €258 | -€3,762 | -93.6% |
| Accrued charges and deferred income | 492/3 | €9,050 | €9,050 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €39,395 | €35,673 | -€3,722 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130 | €517 | +€387 | +297% |
| Other operating charges | 640/8 | €1,203 | €1,265 | +€62 | +5.2% |
| Gross operating margin | 9900 | €45,010 | €24,742 | -€20,268 | -45.0% |
| Operating profit (loss) | 9901 | €4,282 | -€12,713 | -€16,995 | |
| Financial income | 75/76B | €1,260 | €1,260 | -€0 | 0.0% |
| Recurring financial income | 75 | €1,260 | €1,260 | -€0 | 0.0% |
| Financial charges | 65/66B | €656 | €165 | -€491 | -74.8% |
| Recurring financial charges | 65 | €656 | €165 | -€491 | -74.8% |
| Profit (loss) for the period before taxes | 9903 | €4,886 | -€11,618 | -€16,504 | |
| Income taxes | 67/77 | €2,834 | - | -€2,834 | |
| Profit (loss) for the period | 9904 | €2,051 | -€11,618 | -€13,669 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,051 | -€11,618 | -€13,669 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.