BMA: 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.
BMA
Largest movements
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables after one year +€45,000
new in 2025: €45,000
- Cash +€21,303
up €21,303 (+45.7%), from €46,592 to €67,895
mainly Current investments (+€50,000) and Receivables within one year (+€18,447)
- Receivables within one year -€18,447
down €18,447 (-17.1%), from €107,624 to €89,177
of which Trade receivables: -€9,226
- Deferred charges and accrued income +€6,010
up €6,010 (+37.2%), from €16,154 to €22,164
- Tax, wage and social debts -€6,143
down €6,143 (-22.9%), from €26,848 to €20,705
of which Remuneration and social security: -€12,206
- Gross operating margin -€5,571
down €5,571 (-3.6%), from €153,159 to €147,588
- Write-downs -€5,151
down €5,151, from €962 to -€4,189
- Staff costs +€2,169
up €2,169 (+1.7%), from €126,595 to €128,764
- Other operating charges +€2,022
up €2,022 (+32.3%), from €6,256 to €8,279
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 | €246,708 | €243,664 | -€3,045 | -1.2% |
| Fixed assets | 21/28 | €26,339 | €19,427 | -€6,911 | -26.2% |
| Tangible fixed assets | 22/27 | €24,739 | €19,227 | -€5,511 | -22.3% |
| Furniture and vehicles | 24 | €14,915 | €11,016 | -€3,899 | -26.1% |
| Other tangible fixed assets | 26 | €9,824 | €8,211 | -€1,613 | -16.4% |
| Financial fixed assets | 28 | €1,600 | €200 | -€1,400 | -87.5% |
| Current assets | 29/58 | €220,370 | €224,236 | +€3,867 | +1.8% |
| Amounts receivable after more than one year | 29 | - | €45,000 | +€45,000 | |
| Other amounts receivable | 291 | - | €45,000 | +€45,000 | |
| Amounts receivable within one year | 40/41 | €107,624 | €89,177 | -€18,447 | -17.1% |
| Trade receivables | 40 | €96,403 | €87,177 | -€9,226 | -9.6% |
| Other amounts receivable | 41 | €11,220 | €2,000 | -€9,220 | -82.2% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €46,592 | €67,895 | +€21,303 | +45.7% |
| Deferred charges and accrued income | 490/1 | €16,154 | €22,164 | +€6,010 | +37.2% |
| Total equity and liabilities | 10/49 | €246,708 | €243,664 | -€3,045 | -1.2% |
| Equity | 10/15 | €160,978 | €162,236 | +€1,258 | +0.8% |
| Contributions | 10/11 | €31,700 | €31,700 | = | 0.0% |
| Reserves | 13 | €129,278 | €130,536 | +€1,258 | +1.0% |
| Tax-exempt reserves | 132 | €27,949 | €27,949 | = | 0.0% |
| Distributable reserves | 133 | €101,329 | €102,587 | +€1,258 | +1.2% |
| Amounts payable | 17/49 | €85,731 | €81,428 | -€4,303 | -5.0% |
| Amounts payable within one year | 42/48 | €77,001 | €71,781 | -€5,219 | -6.8% |
| Trade debts | 44 | €46,000 | €44,746 | -€1,254 | -2.7% |
| Suppliers | 440/4 | €46,000 | €44,746 | -€1,254 | -2.7% |
| Advances received on contracts in progress | 46 | €2,000 | €2,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €26,848 | €20,705 | -€6,143 | -22.9% |
| Taxes | 450/3 | €3,071 | €9,134 | +€6,063 | +197.5% |
| Remuneration and social security | 454/9 | €23,777 | €11,571 | -€12,206 | -51.3% |
| Other amounts payable | 47/48 | €2,152 | €4,330 | +€2,178 | +101.2% |
| Accrued charges and deferred income | 492/3 | €8,730 | €9,646 | +€916 | +10.5% |
| Non-recurring operating income | 76A | €215 | - | -€215 | |
| Remuneration, social security and pensions | 62 | €126,595 | €128,764 | +€2,169 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,914 | €7,399 | +€486 | +7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €962 | -€4,189 | -€5,151 | |
| Other operating charges | 640/8 | €6,256 | €8,279 | +€2,022 | +32.3% |
| Non-recurring operating charges | 66A | €216 | - | -€216 | |
| Gross operating margin | 9900 | €153,159 | €147,588 | -€5,571 | -3.6% |
| Operating profit (loss) | 9901 | €12,216 | €7,335 | -€4,881 | -40.0% |
| Financial income | 75/76B | €191 | €805 | +€614 | +320.8% |
| Recurring financial income | 75 | €191 | €805 | +€614 | +320.8% |
| Financial charges | 65/66B | €2,527 | €1,190 | -€1,337 | -52.9% |
| Recurring financial charges | 65 | €2,527 | €1,190 | -€1,337 | -52.9% |
| Profit (loss) for the period before taxes | 9903 | €9,880 | €6,950 | -€2,930 | -29.7% |
| Income taxes | 67/77 | €5,080 | €5,692 | +€612 | +12.0% |
| Profit (loss) for the period | 9904 | €4,800 | €1,258 | -€3,542 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,800 | €1,258 | -€3,542 | -73.8% |
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 5 October 2026 via checked.be.