BM EXPERTISE: 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 EXPERTISE
Largest movements
- Cash -€69,805
down €69,805 (-78.3%), from €89,190 to €19,385
mainly Trade debts (-€127,747) and Other debts (-€56,016)
- Receivables within one year -€56,714
down €56,714 (-44.8%), from €126,502 to €69,789
of which Trade receivables: -€81,589
- Tangible fixed assets -€11,522
down €11,522 (-5.9%), from €196,037 to €184,516
of which Land and buildings: -€8,650
- Trade debts -€127,747
down €127,747 (-72.2%), from €176,849 to €49,102
- Other debts -€56,016
down €56,016 (-75.0%), from €74,660 to €18,644
- Debts after one year +€44,275
up €44,275 (+29.1%), from €152,136 to €196,411
- Gross operating margin -€58,114
down €58,114 (-83.1%), from €69,916 to €11,802
- Financial income +€27,931
up €27,931 (+117,357%), from €24 to €27,955
- Depreciation -€22,571
down €22,571 (-66.2%), from €34,093 to €11,522
- Financial charges -€2,179
down €2,179 (-26.1%), from €8,333 to €6,154
- Other operating charges -€737
down €737 (-30.6%), from €2,411 to €1,674
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 | €414,251 | €275,531 | -€138,720 | -33.5% |
| Fixed assets | 21/28 | €196,037 | €184,516 | -€11,522 | -5.9% |
| Tangible fixed assets | 22/27 | €196,037 | €184,516 | -€11,522 | -5.9% |
| Land and buildings | 22 | €190,933 | €182,283 | -€8,650 | -4.5% |
| Plant, machinery and equipment | 23 | €5,104 | €2,232 | -€2,872 | -56.3% |
| Current assets | 29/58 | €218,214 | €91,016 | -€127,198 | -58.3% |
| Amounts receivable within one year | 40/41 | €126,502 | €69,789 | -€56,714 | -44.8% |
| Trade receivables | 40 | €125,426 | €43,837 | -€81,589 | -65.0% |
| Other amounts receivable | 41 | €1,076 | €25,951 | +€24,875 | +2,311% |
| Cash at bank and in hand | 54/58 | €89,190 | €19,385 | -€69,805 | -78.3% |
| Deferred charges and accrued income | 490/1 | €2,521 | €1,842 | -€680 | -27.0% |
| Total equity and liabilities | 10/49 | €414,251 | €275,531 | -€138,720 | -33.5% |
| Equity | 10/15 | €3,117 | €4,971 | +€1,853 | +59.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €117 | €1,971 | +€1,853 | +1,579% |
| Distributable reserves | 133 | €117 | €1,971 | +€1,853 | +1,579% |
| Amounts payable | 17/49 | €411,134 | €270,561 | -€140,573 | -34.2% |
| Amounts payable after more than one year | 17 | €152,136 | €196,411 | +€44,275 | +29.1% |
| Financial debts | 170/4 | €152,136 | €196,411 | +€44,275 | +29.1% |
| Amounts payable within one year | 42/48 | €258,998 | €74,149 | -€184,848 | -71.4% |
| Current portion of amounts payable after more than one year | 42 | €5,516 | €5,725 | +€208 | +3.8% |
| Trade debts | 44 | €176,849 | €49,102 | -€127,747 | -72.2% |
| Suppliers | 440/4 | €176,849 | €49,102 | -€127,747 | -72.2% |
| Taxes, remuneration and social security | 45 | €1,972 | €678 | -€1,293 | -65.6% |
| Taxes | 450/3 | €1,972 | €678 | -€1,293 | -65.6% |
| Other amounts payable | 47/48 | €74,660 | €18,644 | -€56,016 | -75.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,093 | €11,522 | -€22,571 | -66.2% |
| Other operating charges | 640/8 | €2,411 | €1,674 | -€737 | -30.6% |
| Gross operating margin | 9900 | €69,916 | €11,802 | -€58,114 | -83.1% |
| Operating profit (loss) | 9901 | €33,412 | -€1,394 | -€34,806 | |
| Financial income | 75/76B | €24 | €27,955 | +€27,931 | +117,357% |
| Recurring financial income | 75 | €24 | €27,955 | +€27,931 | +117,357% |
| Financial charges | 65/66B | €8,333 | €6,154 | -€2,179 | -26.1% |
| Recurring financial charges | 65 | €8,333 | €6,154 | -€2,179 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €25,103 | €20,407 | -€4,697 | -18.7% |
| Income taxes | 67/77 | €526 | €553 | +€28 | +5.3% |
| Profit (loss) for the period | 9904 | €24,578 | €19,853 | -€4,724 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,578 | €19,853 | -€4,724 | -19.2% |
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 24 October 2026 via checked.be.