BFL: 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.
BFL
Largest movements
- Tangible fixed assets +€141,396
up €141,396 (+2,498%), from €5,660 to €147,056
of which Land and buildings: +€130,000
- Receivables within one year -€33,718
down €33,718 (-55.7%), from €60,500 to €26,782
of which Trade receivables: -€60,500
- Cash +€17,135
up €17,135 (+37.6%), from €45,607 to €62,741
mainly Debts after one year (+€87,618) and Receivables within one year (+€33,718)
- Debts after one year +€87,618
new in 2025: €87,618
- Reserves +€27,330
up €27,330 (+47.4%), from €57,601 to €84,931
- Trade debts +€19,474
up €19,474 (+12,000%), from €162 to €19,637
- Current portion of long-term debt +€11,647
new in 2025: €11,647
- Tax, wage and social debts -€10,582
down €10,582 (-26.8%), from €39,489 to €28,907
of which Taxes: -€10,621
- Gross operating margin -€32,458
down €32,458 (-44.4%), from €73,092 to €40,633
- Taxes -€6,896
down €6,896 (-47.5%), from €14,532 to €7,636
- Depreciation +€2,764
up €2,764 (+725%), from €381 to €3,146
- Financial charges +€2,492
up €2,492 (+59,749%), from €4 to €2,496
- Financial income +€763
new in 2025: €763
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 | €111,919 | €237,740 | +€125,821 | +112% |
| Fixed assets | 21/28 | €5,813 | €147,208 | +€141,396 | +2,433% |
| Tangible fixed assets | 22/27 | €5,660 | €147,056 | +€141,396 | +2,498% |
| Land and buildings | 22 | - | €130,000 | +€130,000 | |
| Plant, machinery and equipment | 23 | €4,025 | €14,703 | +€10,678 | +265% |
| Furniture and vehicles | 24 | €1,635 | €2,353 | +€718 | +43.9% |
| Financial fixed assets | 28 | €152 | €152 | = | 0.0% |
| Current assets | 29/58 | €106,107 | €90,531 | -€15,575 | -14.7% |
| Amounts receivable within one year | 40/41 | €60,500 | €26,782 | -€33,718 | -55.7% |
| Trade receivables | 40 | €60,500 | €0 | -€60,500 | -100% |
| Other amounts receivable | 41 | - | €26,782 | +€26,782 | |
| Cash at bank and in hand | 54/58 | €45,607 | €62,741 | +€17,135 | +37.6% |
| Deferred charges and accrued income | 490/1 | - | €1,008 | +€1,008 | |
| Total equity and liabilities | 10/49 | €111,919 | €237,740 | +€125,821 | +112% |
| Equity | 10/15 | €62,601 | €89,931 | +€27,330 | +43.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €57,601 | €84,931 | +€27,330 | +47.4% |
| Distributable reserves | 133 | €57,601 | €84,931 | +€27,330 | +47.4% |
| Amounts payable | 17/49 | €49,318 | €147,808 | +€98,490 | +200% |
| Amounts payable after more than one year | 17 | - | €87,618 | +€87,618 | |
| Financial debts | 170/4 | - | €87,618 | +€87,618 | |
| Amounts payable within one year | 42/48 | €49,318 | €60,190 | +€10,872 | +22.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,647 | +€11,647 | |
| Trade debts | 44 | €162 | €19,637 | +€19,474 | +12,000% |
| Suppliers | 440/4 | €162 | €19,637 | +€19,474 | +12,000% |
| Taxes, remuneration and social security | 45 | €39,489 | €28,907 | -€10,582 | -26.8% |
| Taxes | 450/3 | €32,789 | €22,168 | -€10,621 | -32.4% |
| Remuneration and social security | 454/9 | €6,700 | €6,739 | +€39 | +0.6% |
| Other amounts payable | 47/48 | €9,667 | €0 | -€9,667 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €381 | €3,146 | +€2,764 | +725% |
| Other operating charges | 640/8 | €573 | €789 | +€216 | +37.7% |
| Gross operating margin | 9900 | €73,092 | €40,633 | -€32,458 | -44.4% |
| Operating profit (loss) | 9901 | €72,137 | €36,698 | -€35,439 | -49.1% |
| Financial income | 75/76B | - | €763 | +€763 | |
| Recurring financial income | 75 | - | €763 | +€763 | |
| Financial charges | 65/66B | €4 | €2,496 | +€2,492 | +59,749% |
| Recurring financial charges | 65 | €4 | €2,496 | +€2,492 | +59,749% |
| Profit (loss) for the period before taxes | 9903 | €72,133 | €34,966 | -€37,167 | -51.5% |
| Income taxes | 67/77 | €14,532 | €7,636 | -€6,896 | -47.5% |
| Profit (loss) for the period | 9904 | €57,601 | €27,330 | -€30,271 | -52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €57,601 | €27,330 | -€30,271 | -52.6% |
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 13 October 2026 via checked.be.