BM-CON: 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-CON
Largest movements
- Cash +€11,933
up €11,933 (+172187.0%), from €7 to €11,939
mainly Net result for the year (+€53,886) and Depreciation (+€28,655)
- Receivables within one year -€9,586
down €9,586 (-7.0%), from €136,046 to €126,460
of which Other amounts receivable: -€9,555
- Tangible fixed assets -€6,915
down €6,915 (-1.3%), from €520,265 to €513,350
of which Land and buildings: -€5,923
- Short-term financial debts -€38,330
no longer reported in 2025 (was €38,330)
- Debts after one year -€32,704
down €32,704 (-14.6%), from €224,296 to €191,592
- Trade debts +€23,774
up €23,774 (+1101.6%), from €2,158 to €25,932
- Reserves +€16,630
up €16,630 (+10.1%), from €164,913 to €181,544
- Tax, wage and social debts +€13,653
up €13,653 (+79.7%), from €17,133 to €30,786
of which Taxes: +€14,427
- Gross operating margin +€67,047
up €67,047 (+84.4%), from €79,449 to €146,497
- Financial income -€18,028
down €18,028 (-98.4%), from €18,312 to €284
of which Non-recurring financial income: -€18,302
- Taxes +€16,115
up €16,115 (+288.7%), from €5,583 to €21,697
- Staff costs -€5,792
down €5,792 (-24.1%), from €24,027 to €18,235
- Financial charges -€3,487
down €3,487 (-14.1%), from €24,743 to €21,255
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 | €657,355 | €653,302 | -€4,053 | -0.6% |
| Fixed assets | 21/28 | €520,265 | €513,350 | -€6,915 | -1.3% |
| Tangible fixed assets | 22/27 | €520,265 | €513,350 | -€6,915 | -1.3% |
| Land and buildings | 22 | €513,673 | €507,750 | -€5,923 | -1.2% |
| Plant, machinery and equipment | 23 | - | €544 | +€544 | |
| Furniture and vehicles | 24 | €6,592 | €5,055 | -€1,537 | -23.3% |
| Current assets | 29/58 | €137,090 | €139,952 | +€2,862 | +2.1% |
| Amounts receivable within one year | 40/41 | €136,046 | €126,460 | -€9,586 | -7.0% |
| Trade receivables | 40 | €242 | €211 | -€31 | -13.0% |
| Other amounts receivable | 41 | €135,804 | €126,249 | -€9,555 | -7.0% |
| Cash at bank and in hand | 54/58 | €7 | €11,939 | +€11,933 | +172187.0% |
| Deferred charges and accrued income | 490/1 | €1,037 | €1,553 | +€516 | +49.8% |
| Total equity and liabilities | 10/49 | €657,355 | €653,302 | -€4,053 | -0.6% |
| Equity | 10/15 | €331,106 | €349,911 | +€18,805 | +5.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €164,913 | €181,544 | +€16,630 | +10.1% |
| Distributable reserves | 133 | €164,913 | €181,544 | +€16,630 | +10.1% |
| Profit (loss) carried forward | 14 | €159,992 | €159,992 | = | 0.0% |
| Investment grants | 15 | - | €2,175 | +€2,175 | |
| Amounts payable | 17/49 | €326,249 | €303,391 | -€22,858 | -7.0% |
| Amounts payable after more than one year | 17 | €224,296 | €191,592 | -€32,704 | -14.6% |
| Financial debts | 170/4 | €224,296 | €191,592 | -€32,704 | -14.6% |
| Amounts payable within one year | 42/48 | €99,753 | €109,598 | +€9,845 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €42,133 | €52,881 | +€10,748 | +25.5% |
| Financial debts | 43 | €38,330 | - | -€38,330 | |
| Credit institutions | 430/8 | €38,330 | - | -€38,330 | |
| Trade debts | 44 | €2,158 | €25,932 | +€23,774 | +1101.6% |
| Suppliers | 440/4 | €2,158 | €25,932 | +€23,774 | +1101.6% |
| Taxes, remuneration and social security | 45 | €17,133 | €30,786 | +€13,653 | +79.7% |
| Taxes | 450/3 | €14,329 | €28,757 | +€14,427 | +100.7% |
| Remuneration and social security | 454/9 | €2,803 | €2,030 | -€774 | -27.6% |
| Accrued charges and deferred income | 492/3 | €2,200 | €2,200 | = | 0.0% |
| Non-recurring operating income | 76A | - | €15,541 | +€15,541 | |
| Remuneration, social security and pensions | 62 | €24,027 | €18,235 | -€5,792 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,726 | €28,655 | +€930 | +3.4% |
| Other operating charges | 640/8 | €3,066 | €3,051 | -€15 | -0.5% |
| Gross operating margin | 9900 | €79,449 | €146,497 | +€67,047 | +84.4% |
| Operating profit (loss) | 9901 | €24,631 | €96,555 | +€71,924 | +292.0% |
| Financial income | 75/76B | €18,312 | €284 | -€18,028 | -98.4% |
| Recurring financial income | 75 | €10 | €284 | +€274 | +2740.9% |
| Non-recurring financial income | 76B | €18,302 | - | -€18,302 | |
| Financial charges | 65/66B | €24,743 | €21,255 | -€3,487 | -14.1% |
| Recurring financial charges | 65 | €24,743 | €21,255 | -€3,487 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €18,200 | €75,584 | +€57,384 | +315.3% |
| Income taxes | 67/77 | €5,583 | €21,697 | +€16,115 | +288.7% |
| Profit (loss) for the period | 9904 | €12,618 | €53,886 | +€41,269 | +327.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,618 | €53,886 | +€41,269 | +327.1% |
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.