BISMART: 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.
BISMART
Largest movements
- Tangible fixed assets +€43,722
up €43,722 (+27.5%), from €158,869 to €202,591
of which Furniture and vehicles: +€39,172
- Receivables within one year +€8,400
up €8,400 (+115%), from €7,289 to €15,689
of which Trade receivables: +€5,309
- Cash +€2,991
up €2,991 (+1,066%), from €281 to €3,271
mainly Other debts (+€45,578) and Depreciation (+€35,038)
- Deferred charges and accrued income -€2,799
no longer reported in 2025 (was €2,799)
- Other debts +€45,578
up €45,578 (+37.0%), from €123,312 to €168,890
- Debts after one year +€25,967
up €25,967 (+61.4%), from €42,316 to €68,283
- Trade debts -€14,555
no longer reported in 2025 (was €14,555)
- Profit (loss) carried forward -€6,180
down €6,180 (-19.5%), from -€31,670 to -€37,850
- Current portion of long-term debt +€3,294
up €3,294 (+28.0%), from €11,780 to €15,073
- Gross operating margin +€21,696
up €21,696 (+115%), from €18,806 to €40,502
- Depreciation +€6,370
up €6,370 (+22.2%), from €28,668 to €35,038
- Financial charges +€501
up €501 (+12.2%), from €4,093 to €4,594
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 | €169,238 | €221,551 | +€52,313 | +30.9% |
| Fixed assets | 21/28 | €158,869 | €202,591 | +€43,722 | +27.5% |
| Tangible fixed assets | 22/27 | €158,869 | €202,591 | +€43,722 | +27.5% |
| Plant, machinery and equipment | 23 | €6,020 | €19,406 | +€13,386 | +222% |
| Furniture and vehicles | 24 | €54,974 | €94,146 | +€39,172 | +71.3% |
| Other tangible fixed assets | 26 | €82,048 | €73,212 | -€8,836 | -10.8% |
| Assets under construction and advance payments | 27 | €15,827 | €15,827 | = | 0.0% |
| Current assets | 29/58 | €10,369 | €18,960 | +€8,592 | +82.9% |
| Amounts receivable within one year | 40/41 | €7,289 | €15,689 | +€8,400 | +115% |
| Trade receivables | 40 | €7,227 | €12,536 | +€5,309 | +73.5% |
| Other amounts receivable | 41 | €62 | €3,153 | +€3,091 | +4,962% |
| Cash at bank and in hand | 54/58 | €281 | €3,271 | +€2,991 | +1,066% |
| Deferred charges and accrued income | 490/1 | €2,799 | - | -€2,799 | |
| Total equity and liabilities | 10/49 | €169,238 | €221,551 | +€52,313 | +30.9% |
| Equity | 10/15 | -€29,170 | -€35,350 | -€6,180 | -21.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,670 | -€37,850 | -€6,180 | -19.5% |
| Amounts payable | 17/49 | €198,408 | €256,901 | +€58,493 | +29.5% |
| Amounts payable after more than one year | 17 | €42,316 | €68,283 | +€25,967 | +61.4% |
| Financial debts | 170/4 | €42,316 | €68,283 | +€25,967 | +61.4% |
| Amounts payable within one year | 42/48 | €155,656 | €188,618 | +€32,962 | +21.2% |
| Current portion of amounts payable after more than one year | 42 | €11,780 | €15,073 | +€3,294 | +28.0% |
| Trade debts | 44 | €14,555 | - | -€14,555 | |
| Suppliers | 440/4 | €14,555 | - | -€14,555 | |
| Taxes, remuneration and social security | 45 | €6,010 | €4,654 | -€1,355 | -22.5% |
| Taxes | 450/3 | €6,010 | €2,755 | -€3,255 | -54.2% |
| Remuneration and social security | 454/9 | - | €1,900 | +€1,900 | |
| Other amounts payable | 47/48 | €123,312 | €168,890 | +€45,578 | +37.0% |
| Accrued charges and deferred income | 492/3 | €436 | - | -€436 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,668 | €35,038 | +€6,370 | +22.2% |
| Other operating charges | 640/8 | €931 | €667 | -€265 | -28.4% |
| Non-recurring operating charges | 66A | - | €5,873 | +€5,873 | |
| Gross operating margin | 9900 | €18,806 | €40,502 | +€21,696 | +115% |
| Operating profit (loss) | 9901 | -€10,794 | -€1,076 | +€9,718 | +90.0% |
| Financial charges | 65/66B | €4,093 | €4,594 | +€501 | +12.2% |
| Recurring financial charges | 65 | €4,093 | €4,594 | +€501 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,886 | -€5,670 | +€9,216 | +61.9% |
| Income taxes | 67/77 | €488 | €510 | +€22 | +4.6% |
| Profit (loss) for the period | 9904 | -€15,374 | -€6,180 | +€9,194 | +59.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,374 | -€6,180 | +€9,194 | +59.8% |
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 14 October 2026 via checked.be.