BFM: 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.
BFM
Largest movements
- Financial fixed assets +€75,000
up €75,000 (+125.0%), from €60,000 to €135,000
- Cash +€39,300
up €39,300 (+247.1%), from €15,903 to €55,203
mainly Net result for the year (+€68,004) and Debts after one year (+€61,389)
- Receivables within one year -€21,460
down €21,460 (-53.4%), from €40,191 to €18,731
of which Other amounts receivable: -€22,041
- Tangible fixed assets +€11,962
up €11,962 (+249.8%), from €4,789 to €16,751
of which Furniture and vehicles: +€10,593
- Debts after one year +€61,389
new in 2025: €61,389
- Tax, wage and social debts +€28,689
up €28,689 (+149.9%), from €19,141 to €47,830
of which Taxes: +€27,898
- Current portion of long-term debt +€9,019
up €9,019 (+117.2%), from €7,696 to €16,715
- Trade debts +€6,889
up €6,889 (+169.2%), from €4,072 to €10,961
- Gross operating margin +€46,858
up €46,858 (+81.2%), from €57,737 to €104,596
- Taxes +€16,045
up €16,045 (+112.8%), from €14,229 to €30,274
- Depreciation +€1,704
up €1,704 (+64.1%), from €2,657 to €4,361
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 | €123,470 | €227,502 | +€104,032 | +84.3% |
| Fixed assets | 21/28 | €64,789 | €151,751 | +€86,962 | +134.2% |
| Tangible fixed assets | 22/27 | €4,789 | €16,751 | +€11,962 | +249.8% |
| Plant, machinery and equipment | 23 | €954 | €2,323 | +€1,370 | +143.6% |
| Furniture and vehicles | 24 | €3,835 | €14,428 | +€10,593 | +276.2% |
| Financial fixed assets | 28 | €60,000 | €135,000 | +€75,000 | +125.0% |
| Current assets | 29/58 | €58,681 | €75,751 | +€17,070 | +29.1% |
| Amounts receivable within one year | 40/41 | €40,191 | €18,731 | -€21,460 | -53.4% |
| Trade receivables | 40 | €18,150 | €18,731 | +€581 | +3.2% |
| Other amounts receivable | 41 | €22,041 | - | -€22,041 | |
| Cash at bank and in hand | 54/58 | €15,903 | €55,203 | +€39,300 | +247.1% |
| Deferred charges and accrued income | 490/1 | €2,587 | €1,817 | -€770 | -29.8% |
| Total equity and liabilities | 10/49 | €123,470 | €227,502 | +€104,032 | +84.3% |
| Equity | 10/15 | €92,561 | €90,565 | -€1,996 | -2.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,561 | €80,565 | -€1,996 | -2.4% |
| Amounts payable | 17/49 | €30,909 | €136,937 | +€106,028 | +343.0% |
| Amounts payable after more than one year | 17 | - | €61,389 | +€61,389 | |
| Financial debts | 170/4 | - | €61,389 | +€61,389 | |
| Amounts payable within one year | 42/48 | €30,909 | €75,548 | +€44,639 | +144.4% |
| Current portion of amounts payable after more than one year | 42 | €7,696 | €16,715 | +€9,019 | +117.2% |
| Trade debts | 44 | €4,072 | €10,961 | +€6,889 | +169.2% |
| Suppliers | 440/4 | €4,072 | €10,961 | +€6,889 | +169.2% |
| Taxes, remuneration and social security | 45 | €19,141 | €47,830 | +€28,689 | +149.9% |
| Taxes | 450/3 | €17,602 | €45,500 | +€27,898 | +158.5% |
| Remuneration and social security | 454/9 | €1,539 | €2,330 | +€791 | +51.4% |
| Other amounts payable | 47/48 | - | €42 | +€42 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,657 | €4,361 | +€1,704 | +64.1% |
| Other operating charges | 640/8 | €511 | €999 | +€488 | +95.4% |
| Gross operating margin | 9900 | €57,737 | €104,596 | +€46,858 | +81.2% |
| Operating profit (loss) | 9901 | €54,569 | €99,236 | +€44,667 | +81.9% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €670 | €957 | +€288 | +42.9% |
| Recurring financial charges | 65 | €670 | €957 | +€288 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €53,900 | €98,279 | +€44,378 | +82.3% |
| Income taxes | 67/77 | €14,229 | €30,274 | +€16,045 | +112.8% |
| Profit (loss) for the period | 9904 | €39,671 | €68,004 | +€28,333 | +71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,671 | €68,004 | +€28,333 | +71.4% |
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.