BFZcycles: 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.
BFZcycles
Largest movements
- Cash +€165,506
up €165,506 (+275.0%), from €60,182 to €225,688
mainly Trade debts (+€112,518) and Net result for the year (+€56,895)
- Receivables within one year +€61,340
up €61,340, from €0 to €61,340
of which Other amounts receivable: +€61,340
- Stocks and contracts +€31,084
up €31,084 (+6.2%), from €497,892 to €528,976
- Trade debts +€112,518
up €112,518 (+55.2%), from €203,936 to €316,454
- Reserves +€56,895
new in 2025: €56,895
- Tax, wage and social debts +€49,485
up €49,485 (+81.5%), from €60,734 to €110,219
of which Taxes: +€29,515
- Current portion of long-term debt +€21,564
up €21,564 (+89.8%), from €24,020 to €45,583
- Turnover +€395,503
up €395,503 (+19.6%), from €2.0m to €2.4m
- Purchases and services +€340,613
up €340,613 (+18.3%), from €1.9m to €2.2m
- Gross operating margin +€94,351
up €94,351 (+58.9%), from €160,241 to €254,593
- Staff costs +€34,211
up €34,211 (+33.0%), from €103,783 to €137,993
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 | €838,634 | €1,088,871 | +€250,237 | +29.8% |
| Fixed assets | 21/28 | €280,560 | €272,867 | -€7,693 | -2.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €278,894 | €270,121 | -€8,773 | -3.1% |
| Land and buildings | 22 | €260,346 | €240,695 | -€19,651 | -7.5% |
| Plant, machinery and equipment | 23 | €18,548 | €28,241 | +€9,693 | +52.3% |
| Furniture and vehicles | 24 | €0 | €1,185 | +€1,185 | |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,666 | €2,746 | +€1,080 | +64.8% |
| Current assets | 29/58 | €558,074 | €816,004 | +€257,930 | +46.2% |
| Stocks and contracts in progress | 3 | €497,892 | €528,976 | +€31,084 | +6.2% |
| Stocks | 30/36 | €497,892 | €528,976 | +€31,084 | +6.2% |
| Amounts receivable within one year | 40/41 | €0 | €61,340 | +€61,340 | |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | - | €61,340 | +€61,340 | |
| Cash at bank and in hand | 54/58 | €60,182 | €225,688 | +€165,506 | +275.0% |
| Total equity and liabilities | 10/49 | €838,634 | €1,088,871 | +€250,237 | +29.8% |
| Equity | 10/15 | €346,071 | €402,966 | +€56,895 | +16.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | - | €56,895 | +€56,895 | |
| Distributable reserves | 133 | - | €56,895 | +€56,895 | |
| Profit (loss) carried forward | 14 | €338,011 | €338,011 | = | 0.0% |
| Amounts payable | 17/49 | €492,563 | €685,905 | +€193,342 | +39.3% |
| Amounts payable after more than one year | 17 | €196,095 | €204,893 | +€8,798 | +4.5% |
| Financial debts | 170/4 | €196,095 | €204,893 | +€8,798 | +4.5% |
| Amounts payable within one year | 42/48 | €295,491 | €481,012 | +€185,521 | +62.8% |
| Current portion of amounts payable after more than one year | 42 | €24,020 | €45,583 | +€21,564 | +89.8% |
| Trade debts | 44 | €203,936 | €316,454 | +€112,518 | +55.2% |
| Suppliers | 440/4 | €203,936 | €316,454 | +€112,518 | +55.2% |
| Advances received on contracts in progress | 46 | - | €8,756 | +€8,756 | |
| Taxes, remuneration and social security | 45 | €60,734 | €110,219 | +€49,485 | +81.5% |
| Taxes | 450/3 | €51,427 | €80,942 | +€29,515 | +57.4% |
| Remuneration and social security | 454/9 | €9,307 | €29,277 | +€19,970 | +214.6% |
| Other amounts payable | 47/48 | €6,802 | - | -€6,802 | |
| Accrued charges and deferred income | 492/3 | €977 | - | -€977 | |
| Turnover | 70 | €2,017,619 | €2,413,122 | +€395,503 | +19.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,857,377 | €2,197,990 | +€340,613 | +18.3% |
| Remuneration, social security and pensions | 62 | €103,783 | €137,993 | +€34,211 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,482 | €24,624 | -€7,858 | -24.2% |
| Other operating charges | 640/8 | €1,943 | €8,333 | +€6,390 | +328.8% |
| Gross operating margin | 9900 | €160,241 | €254,593 | +€94,351 | +58.9% |
| Operating profit (loss) | 9901 | €22,034 | €83,643 | +€61,609 | +279.6% |
| Financial income | 75/76B | €3,669 | €6,065 | +€2,396 | +65.3% |
| Recurring financial income | 75 | €3,669 | €6,065 | +€2,396 | +65.3% |
| Financial charges | 65/66B | €6,829 | €10,682 | +€3,853 | +56.4% |
| Recurring financial charges | 65 | €6,829 | €10,682 | +€3,853 | +56.4% |
| Profit (loss) for the period before taxes | 9903 | €18,874 | €79,025 | +€60,152 | +318.7% |
| Income taxes | 67/77 | €4,504 | €22,131 | +€17,627 | +391.4% |
| Profit (loss) for the period | 9904 | €14,370 | €56,895 | +€42,525 | +295.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,370 | €56,895 | +€42,525 | +295.9% |
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 11 October 2026 via checked.be.