BFIVE: 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.
BFIVE
Largest movements
- Tangible fixed assets +€2.0m
new in 2025: €2.0m
of which Land and buildings: +€2.0m
- Financial fixed assets -€1.8m
down €1.8m (-33.3%), from €5.4m to €3.6m
of which Affiliated companies: -€1.8m
- Intangible fixed assets +€899,738
new in 2025: €899,738
- Receivables within one year -€389,314
down €389,314 (-57.6%), from €675,407 to €286,093
of which Other amounts receivable: -€439,948
- Other debts +€548,791
up €548,791 (+457.3%), from €120,000 to €668,791
- Trade debts +€250,018
up €250,018 (+8333.9%), from €3,000 to €253,018
- Debts after one year -€234,751
down €234,751 (-30.9%), from €759,644 to €524,893
- Tax, wage and social debts +€143,621
up €143,621 (+921.1%), from €15,592 to €159,213
of which Taxes: +€139,399
- Services and other goods +€273,545
up €273,545 (+8869.8%), from €3,084 to €276,629
- Turnover +€118,684
up €118,684 (+23.9%), from €497,000 to €615,684
- Taxes +€79,973
up €79,973 (+80.0%), from €100,000 to €179,973
of which Taxes: +€74,973
- Depreciation +€71,372
new in 2025: €71,372
- Other operating charges +€11,567
up €11,567 (+1102.6%), from €1,049 to €12,616
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 | €6,076,445 | €6,842,655 | +€766,210 | +12.6% |
| Fixed assets | 21/28 | €5,395,000 | €6,545,520 | +€1.2m | +21.3% |
| Intangible fixed assets | 21 | - | €899,738 | +€899,738 | |
| Tangible fixed assets | 22/27 | - | €2,045,420 | +€2.0m | |
| Land and buildings | 22 | - | €2,043,696 | +€2.0m | |
| Furniture and vehicles | 24 | - | €1,723 | +€1,723 | |
| Financial fixed assets | 28 | €5,395,000 | €3,600,363 | -€1.8m | -33.3% |
| Affiliated companies | 280/1 | €5,395,000 | €3,600,000 | -€1.8m | -33.3% |
| Participating interests | 280 | €5,395,000 | €3,600,000 | -€1.8m | -33.3% |
| Other financial fixed assets | 284/8 | - | €363 | +€363 | |
| Amounts receivable and cash guarantees | 285/8 | - | €363 | +€363 | |
| Current assets | 29/58 | €681,445 | €297,135 | -€384,310 | -56.4% |
| Amounts receivable within one year | 40/41 | €675,407 | €286,093 | -€389,314 | -57.6% |
| Trade receivables | 40 | €200,000 | €250,634 | +€50,634 | +25.3% |
| Other amounts receivable | 41 | €475,407 | €35,459 | -€439,948 | -92.5% |
| Cash at bank and in hand | 54/58 | €6,038 | €1,917 | -€4,121 | -68.2% |
| Deferred charges and accrued income | 490/1 | - | €9,125 | +€9,125 | |
| Total equity and liabilities | 10/49 | €6,076,445 | €6,842,655 | +€766,210 | +12.6% |
| Equity | 10/15 | €4,911,201 | €4,967,578 | +€56,377 | +1.1% |
| Contributions | 10/11 | €4,347,000 | €4,347,000 | = | 0.0% |
| Capital | 10 | €4,347,000 | €4,347,000 | = | 0.0% |
| Issued capital | 100 | €4,347,000 | €4,347,000 | = | 0.0% |
| Reserves | 13 | €434,700 | €434,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €434,700 | €434,700 | = | 0.0% |
| Legal reserve | 130 | €434,700 | €434,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,501 | €185,878 | +€56,377 | +43.5% |
| Amounts payable | 17/49 | €1,165,244 | €1,875,077 | +€709,833 | +60.9% |
| Amounts payable after more than one year | 17 | €759,644 | €524,893 | -€234,751 | -30.9% |
| Financial debts | 170/4 | €759,644 | €524,893 | -€234,751 | -30.9% |
| Credit institutions | 173 | €759,644 | €524,893 | -€234,751 | -30.9% |
| Amounts payable within one year | 42/48 | €405,600 | €1,350,184 | +€944,584 | +232.9% |
| Current portion of amounts payable after more than one year | 42 | €267,008 | €269,162 | +€2,154 | +0.8% |
| Trade debts | 44 | €3,000 | €253,018 | +€250,018 | +8333.9% |
| Suppliers | 440/4 | €3,000 | €253,018 | +€250,018 | +8333.9% |
| Taxes, remuneration and social security | 45 | €15,592 | €159,213 | +€143,621 | +921.1% |
| Taxes | 450/3 | €15,592 | €154,991 | +€139,399 | +894.0% |
| Remuneration and social security | 454/9 | - | €4,222 | +€4,222 | |
| Other amounts payable | 47/48 | €120,000 | €668,791 | +€548,791 | +457.3% |
| Operating income | 70/76A | €497,000 | €618,447 | +€121,447 | +24.4% |
| Turnover | 70 | €497,000 | €615,684 | +€118,684 | +23.9% |
| Other operating income | 74 | - | €2,763 | +€2,763 | |
| Operating charges | 60/66A | €4,133 | €360,616 | +€356,483 | +8625.3% |
| Services and other goods | 61 | €3,084 | €276,629 | +€273,545 | +8869.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €71,372 | +€71,372 | |
| Other operating charges | 640/8 | €1,049 | €12,616 | +€11,567 | +1102.6% |
| Operating profit (loss) | 9901 | €492,867 | €257,830 | -€235,037 | -47.7% |
| Financial income | 75/76B | €160,000 | €160,000 | = | 0.0% |
| Recurring financial income | 75 | €160,000 | €160,000 | = | 0.0% |
| Income from financial fixed assets | 750 | €160,000 | €160,000 | = | 0.0% |
| Financial charges | 65/66B | €26,177 | €21,480 | -€4,697 | -17.9% |
| Recurring financial charges | 65 | €26,177 | €21,480 | -€4,697 | -17.9% |
| Debt charges | 650 | €25,903 | €20,827 | -€5,076 | -19.6% |
| Other financial charges | 652/9 | €274 | €654 | +€380 | +138.6% |
| Profit (loss) for the period before taxes | 9903 | €626,690 | €396,350 | -€230,340 | -36.8% |
| Income taxes | 67/77 | €100,000 | €179,973 | +€79,973 | +80.0% |
| Taxes | 670/3 | €105,000 | €179,973 | +€74,973 | +71.4% |
| Tax adjustments and reversals of tax provisions | 77 | €5,000 | - | -€5,000 | |
| Profit (loss) for the period | 9904 | €526,690 | €216,377 | -€310,313 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €526,690 | €216,377 | -€310,313 | -58.9% |
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 12 October 2026 via checked.be.