BM GEST: 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 GEST
Largest movements
- Cash -€37,447
down €37,447 (-37.5%), from €99,909 to €62,462
mainly Investment in fixed assets (net) (-€33,115) and Tax, wage and social debts (-€22,243)
- Tangible fixed assets +€14,115
up €14,115 (+7.2%), from €197,144 to €211,258
of which Furniture and vehicles: +€20,328
- Receivables within one year +€4,569
up €4,569 (+234%), from €1,949 to €6,518
of which Other amounts receivable: +€2,871
- Tax, wage and social debts -€22,243
down €22,243 (-77.3%), from €28,788 to €6,545
- Reserves +€20,000
up €20,000 (+12.2%), from €164,500 to €184,500
- Debts after one year -€17,753
down €17,753 (-21.9%), from €81,140 to €63,386
- Depreciation +€10,899
up €10,899 (+135%), from €8,101 to €19,000
- Gross operating margin -€4,785
down €4,785 (-6.5%), from €73,114 to €68,329
- Other operating charges +€1,861
up €1,861 (+23.4%), from €7,964 to €9,825
- Taxes +€1,330
up €1,330 (+8.0%), from €16,624 to €17,955
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 | €328,086 | €306,059 | -€22,027 | -6.7% |
| Fixed assets | 21/28 | €197,144 | €211,258 | +€14,115 | +7.2% |
| Tangible fixed assets | 22/27 | €197,144 | €211,258 | +€14,115 | +7.2% |
| Land and buildings | 22 | €187,496 | €181,283 | -€6,213 | -3.3% |
| Furniture and vehicles | 24 | €9,647 | €29,975 | +€20,328 | +211% |
| Current assets | 29/58 | €130,942 | €94,800 | -€36,142 | -27.6% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,949 | €6,518 | +€4,569 | +234% |
| Trade receivables | 40 | €1,321 | €3,018 | +€1,698 | +129% |
| Other amounts receivable | 41 | €629 | €3,500 | +€2,871 | +457% |
| Cash at bank and in hand | 54/58 | €99,909 | €62,462 | -€37,447 | -37.5% |
| Deferred charges and accrued income | 490/1 | €9,084 | €5,820 | -€3,264 | -35.9% |
| Total equity and liabilities | 10/49 | €328,086 | €306,059 | -€22,027 | -6.7% |
| Equity | 10/15 | €182,889 | €203,067 | +€20,178 | +11.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €164,500 | €184,500 | +€20,000 | +12.2% |
| Distributable reserves | 133 | €164,500 | €184,500 | +€20,000 | +12.2% |
| Profit (loss) carried forward | 14 | €5,989 | €6,167 | +€178 | +3.0% |
| Amounts payable | 17/49 | €145,197 | €102,992 | -€42,205 | -29.1% |
| Amounts payable after more than one year | 17 | €81,140 | €63,386 | -€17,753 | -21.9% |
| Financial debts | 170/4 | €81,140 | €63,386 | -€17,753 | -21.9% |
| Amounts payable within one year | 42/48 | €64,057 | €39,606 | -€24,451 | -38.2% |
| Current portion of amounts payable after more than one year | 42 | €17,519 | €17,753 | +€235 | +1.3% |
| Trade debts | 44 | €1,520 | - | -€1,520 | |
| Suppliers | 440/4 | €1,520 | - | -€1,520 | |
| Taxes, remuneration and social security | 45 | €28,788 | €6,545 | -€22,243 | -77.3% |
| Taxes | 450/3 | €28,788 | €6,545 | -€22,243 | -77.3% |
| Other amounts payable | 47/48 | €16,231 | €15,307 | -€923 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,101 | €19,000 | +€10,899 | +135% |
| Other operating charges | 640/8 | €7,964 | €9,825 | +€1,861 | +23.4% |
| Gross operating margin | 9900 | €73,114 | €68,329 | -€4,785 | -6.5% |
| Operating profit (loss) | 9901 | €57,049 | €39,503 | -€17,546 | -30.8% |
| Financial charges | 65/66B | €1,790 | €1,370 | -€420 | -23.5% |
| Recurring financial charges | 65 | €1,790 | €1,370 | -€420 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €55,259 | €38,133 | -€17,126 | -31.0% |
| Income taxes | 67/77 | €16,624 | €17,955 | +€1,330 | +8.0% |
| Profit (loss) for the period | 9904 | €38,634 | €20,178 | -€18,456 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,634 | €20,178 | -€18,456 | -47.8% |
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.