BM Projects: 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 Projects
Largest movements
- Receivables within one year -€39,701
down €39,701 (-90.2%), from €44,013 to €4,312
of which Trade receivables: -€35,985
- Cash +€37,202
up €37,202 (+209%), from €17,776 to €54,978
mainly Receivables within one year (+€39,701) and Net result for the year (+€16,742)
- Tangible fixed assets -€9,997
down €9,997 (-31.4%), from €31,883 to €21,886
of which Furniture and vehicles: -€7,732
- Deferred charges and accrued income -€4,834
down €4,834 (-97.5%), from €4,957 to €122
- Trade debts -€25,104
down €25,104 (-93.6%), from €26,827 to €1,723
- Profit (loss) carried forward +€16,742
up €16,742 (+54.0%), from €31,026 to €47,767
- Debts after one year -€5,914
down €5,914 (-36.9%), from €16,032 to €10,117
- Other debts -€2,737
down €2,737 (-14.1%), from €19,370 to €16,633
- Gross operating margin +€23,900
up €23,900 (+186%), from €12,823 to €36,723
- Taxes +€2,741
up €2,741 (+98.9%), from €2,772 to €5,513
- Other operating charges -€680
down €680 (-38.9%), from €1,748 to €1,068
- Depreciation +€469
up €469 (+4.9%), from €9,529 to €9,997
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 | €103,900 | €87,426 | -€16,475 | -15.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €31,883 | €21,886 | -€9,997 | -31.4% |
| Tangible fixed assets | 22/27 | €31,883 | €21,886 | -€9,997 | -31.4% |
| Plant, machinery and equipment | 23 | €3,782 | €2,117 | -€1,665 | -44.0% |
| Furniture and vehicles | 24 | €26,055 | €18,323 | -€7,732 | -29.7% |
| Other tangible fixed assets | 26 | €2,047 | €1,447 | -€600 | -29.3% |
| Current assets | 29/58 | €72,017 | €65,540 | -€6,478 | -9.0% |
| Stocks and contracts in progress | 3 | €5,272 | €6,127 | +€855 | +16.2% |
| Stocks | 30/36 | €5,272 | €6,127 | +€855 | +16.2% |
| Amounts receivable within one year | 40/41 | €44,013 | €4,312 | -€39,701 | -90.2% |
| Trade receivables | 40 | €35,985 | €0 | -€35,985 | -100% |
| Other amounts receivable | 41 | €8,028 | €4,312 | -€3,716 | -46.3% |
| Cash at bank and in hand | 54/58 | €17,776 | €54,978 | +€37,202 | +209% |
| Deferred charges and accrued income | 490/1 | €4,957 | €122 | -€4,834 | -97.5% |
| Total equity and liabilities | 10/49 | €103,900 | €87,426 | -€16,475 | -15.9% |
| Equity | 10/15 | €34,026 | €50,767 | +€16,742 | +49.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,026 | €47,767 | +€16,742 | +54.0% |
| Amounts payable | 17/49 | €69,875 | €36,658 | -€33,217 | -47.5% |
| Amounts payable after more than one year | 17 | €16,032 | €10,117 | -€5,914 | -36.9% |
| Financial debts | 170/4 | €16,032 | €10,117 | -€5,914 | -36.9% |
| Amounts payable within one year | 42/48 | €53,843 | €26,541 | -€27,302 | -50.7% |
| Current portion of amounts payable after more than one year | 42 | €5,617 | €5,914 | +€297 | +5.3% |
| Financial debts | 43 | €2,029 | €2,019 | -€10 | -0.5% |
| Credit institutions | 430/8 | €2,029 | €2,019 | -€10 | -0.5% |
| Trade debts | 44 | €26,827 | €1,723 | -€25,104 | -93.6% |
| Suppliers | 440/4 | €26,827 | €1,723 | -€25,104 | -93.6% |
| Taxes, remuneration and social security | 45 | €0 | €252 | +€252 | |
| Taxes | 450/3 | €0 | €252 | +€252 | |
| Other amounts payable | 47/48 | €19,370 | €16,633 | -€2,737 | -14.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,529 | €9,997 | +€469 | +4.9% |
| Other operating charges | 640/8 | €1,748 | €1,068 | -€680 | -38.9% |
| Gross operating margin | 9900 | €12,823 | €36,723 | +€23,900 | +186% |
| Operating profit (loss) | 9901 | €1,546 | €25,657 | +€24,111 | +1,560% |
| Financial income | 75/76B | €229 | €121 | -€108 | -47.3% |
| Recurring financial income | 75 | €229 | €121 | -€108 | -47.3% |
| Financial charges | 65/66B | €3,219 | €3,523 | +€304 | +9.4% |
| Recurring financial charges | 65 | €3,219 | €3,523 | +€304 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,444 | €22,255 | +€23,699 | |
| Income taxes | 67/77 | €2,772 | €5,513 | +€2,741 | +98.9% |
| Profit (loss) for the period | 9904 | -€4,216 | €16,742 | +€20,958 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,216 | €16,742 | +€20,958 |
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 18 October 2026 via checked.be.