BM Advisory: what changed
Two fiscal 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 Advisory
Largest movements
- Current investments -€48,390
down €48,390 (-61.8%), from €78,242 to €29,853
- Cash +€15,754
up €15,754 (+101.1%), from €15,577 to €31,332
mainly Current investments (+€48,390) and Net result for the year (+€45,406)
- Receivables within one year -€12,841
down €12,841 (-39.4%), from €32,618 to €19,777
of which Trade receivables: -€16,493
- Receivables after one year -€9,000
down €9,000 (-40.0%), from €22,500 to €13,500
- Tangible fixed assets +€3,585
up €3,585 (+434.1%), from €826 to €4,411
of which Other tangible fixed assets: +€3,415
- Profit (loss) carried forward -€29,595
down €29,595 (-30.8%), from €96,143 to €66,549
- Other debts -€22,620
down €22,620 (-97.2%), from €23,279 to €659
- Short-term financial debts +€8,804
new in 2025: €8,804
- Tax, wage and social debts -€8,750
down €8,750 (-29.0%), from €30,160 to €21,410
- Gross operating margin -€11,508
down €11,508 (-18.1%), from €63,744 to €52,236
- Taxes -€6,454
down €6,454 (-35.1%), from €18,411 to €11,957
- Financial income +€6,054
up €6,054 (+630.5%), from €960 to €7,014
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 | €152,882 | €101,513 | -€51,370 | -33.6% |
| Fixed assets | 21/28 | €826 | €4,411 | +€3,585 | +434.1% |
| Tangible fixed assets | 22/27 | €826 | €4,411 | +€3,585 | +434.1% |
| Furniture and vehicles | 24 | €826 | €996 | +€170 | +20.6% |
| Other tangible fixed assets | 26 | - | €3,415 | +€3,415 | |
| Current assets | 29/58 | €152,056 | €97,101 | -€54,955 | -36.1% |
| Amounts receivable after more than one year | 29 | €22,500 | €13,500 | -€9,000 | -40.0% |
| Other amounts receivable | 291 | €22,500 | €13,500 | -€9,000 | -40.0% |
| Amounts receivable within one year | 40/41 | €32,618 | €19,777 | -€12,841 | -39.4% |
| Trade receivables | 40 | €32,588 | €16,095 | -€16,493 | -50.6% |
| Other amounts receivable | 41 | €30 | €3,682 | +€3,652 | +12172.7% |
| Current investments | 50/53 | €78,242 | €29,853 | -€48,390 | -61.8% |
| Cash at bank and in hand | 54/58 | €15,577 | €31,332 | +€15,754 | +101.1% |
| Deferred charges and accrued income | 490/1 | €3,118 | €2,640 | -€478 | -15.3% |
| Total equity and liabilities | 10/49 | €152,882 | €101,513 | -€51,370 | -33.6% |
| Equity | 10/15 | €97,643 | €68,049 | -€29,595 | -30.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,143 | €66,549 | -€29,595 | -30.8% |
| Amounts payable | 17/49 | €55,239 | €33,464 | -€21,775 | -39.4% |
| Amounts payable within one year | 42/48 | €54,955 | €32,867 | -€22,088 | -40.2% |
| Financial debts | 43 | - | €8,804 | +€8,804 | |
| Credit institutions | 430/8 | - | €8,804 | +€8,804 | |
| Trade debts | 44 | €1,516 | €1,994 | +€478 | +31.5% |
| Suppliers | 440/4 | €1,516 | €1,994 | +€478 | +31.5% |
| Taxes, remuneration and social security | 45 | €30,160 | €21,410 | -€8,750 | -29.0% |
| Taxes | 450/3 | €30,160 | €21,410 | -€8,750 | -29.0% |
| Other amounts payable | 47/48 | €23,279 | €659 | -€22,620 | -97.2% |
| Accrued charges and deferred income | 492/3 | €284 | €597 | +€313 | +110.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,295 | €787 | -€507 | -39.2% |
| Other operating charges | 640/8 | €503 | €575 | +€72 | +14.3% |
| Gross operating margin | 9900 | €63,744 | €52,236 | -€11,508 | -18.1% |
| Operating profit (loss) | 9901 | €61,947 | €50,874 | -€11,073 | -17.9% |
| Financial income | 75/76B | €960 | €7,014 | +€6,054 | +630.5% |
| Recurring financial income | 75 | €960 | €7,014 | +€6,054 | +630.5% |
| Financial charges | 65/66B | €514 | €525 | +€12 | +2.2% |
| Recurring financial charges | 65 | €514 | €525 | +€12 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €62,393 | €57,363 | -€5,030 | -8.1% |
| Income taxes | 67/77 | €18,411 | €11,957 | -€6,454 | -35.1% |
| Profit (loss) for the period | 9904 | €43,982 | €45,406 | +€1,424 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,982 | €45,406 | +€1,424 | +3.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.