BM: 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.
BM
Largest movements
- Tangible fixed assets -€49,525
down €49,525 (-88.2%), from €56,135 to €6,610
- Deferred charges and accrued income +€26,518
new in 2025: €26,518
- Receivables within one year -€25,210
down €25,210 (-93.1%), from €27,072 to €1,862
of which Trade receivables: -€24,758
- Cash -€23,617
down €23,617 (-21.9%), from €108,056 to €84,439
mainly Contributions, distributions and other (-€153,973) and Deferred charges and accrued income (-€26,518)
- Reserves -€87,722
down €87,722 (-57.0%), from €153,973 to €66,250
- Other debts +€27,895
new in 2025: €27,895
- Tax, wage and social debts -€13,706
down €13,706 (-42.4%), from €32,290 to €18,584
- Other operating charges +€16,677
up €16,677 (+2078.0%), from €803 to €17,479
- Gross operating margin +€7,331
up €7,331 (+7.5%), from €97,489 to €104,820
- Depreciation -€3,027
down €3,027 (-54.1%), from €5,599 to €2,572
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 | €191,263 | €119,429 | -€71,834 | -37.6% |
| Fixed assets | 21/28 | €56,135 | €6,610 | -€49,525 | -88.2% |
| Tangible fixed assets | 22/27 | €56,135 | €6,610 | -€49,525 | -88.2% |
| Furniture and vehicles | 24 | €56,135 | €6,610 | -€49,525 | -88.2% |
| Current assets | 29/58 | €135,128 | €112,819 | -€22,309 | -16.5% |
| Amounts receivable within one year | 40/41 | €27,072 | €1,862 | -€25,210 | -93.1% |
| Trade receivables | 40 | €26,620 | €1,862 | -€24,758 | -93.0% |
| Other amounts receivable | 41 | €452 | - | -€452 | |
| Cash at bank and in hand | 54/58 | €108,056 | €84,439 | -€23,617 | -21.9% |
| Deferred charges and accrued income | 490/1 | - | €26,518 | +€26,518 | |
| Total equity and liabilities | 10/49 | €191,263 | €119,429 | -€71,834 | -37.6% |
| Equity | 10/15 | €158,973 | €71,250 | -€87,722 | -55.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €153,973 | €66,250 | -€87,722 | -57.0% |
| Distributable reserves | 133 | €153,973 | €66,250 | -€87,722 | -57.0% |
| Amounts payable | 17/49 | €32,290 | €48,179 | +€15,889 | +49.2% |
| Amounts payable within one year | 42/48 | €32,290 | €48,179 | +€15,889 | +49.2% |
| Trade debts | 44 | - | €1,700 | +€1,700 | |
| Suppliers | 440/4 | - | €1,700 | +€1,700 | |
| Taxes, remuneration and social security | 45 | €32,290 | €18,584 | -€13,706 | -42.4% |
| Taxes | 450/3 | €32,290 | €18,584 | -€13,706 | -42.4% |
| Other amounts payable | 47/48 | - | €27,895 | +€27,895 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,599 | €2,572 | -€3,027 | -54.1% |
| Other operating charges | 640/8 | €803 | €17,479 | +€16,677 | +2078.0% |
| Gross operating margin | 9900 | €97,489 | €104,820 | +€7,331 | +7.5% |
| Operating profit (loss) | 9901 | €91,087 | €84,769 | -€6,318 | -6.9% |
| Financial income | 75/76B | €1 | €26 | +€25 | +2387.5% |
| Recurring financial income | 75 | €1 | €26 | +€25 | +2387.5% |
| Financial charges | 65/66B | €110 | €806 | +€696 | +632.4% |
| Recurring financial charges | 65 | €110 | €806 | +€696 | +632.4% |
| Profit (loss) for the period before taxes | 9903 | €90,978 | €83,989 | -€6,989 | -7.7% |
| Income taxes | 67/77 | €18,374 | €17,739 | -€635 | -3.5% |
| Profit (loss) for the period | 9904 | €72,604 | €66,250 | -€6,354 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €72,604 | €66,250 | -€6,354 | -8.8% |
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 11 October 2026 via checked.be.