BMA: 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.
BMA
Largest movements
- Tangible fixed assets +€55,882
up €55,882 (+228.3%), from €24,474 to €80,356
of which Furniture and vehicles: +€56,842
- Intangible fixed assets -€23,923
down €23,923 (-25.0%), from €95,690 to €71,767
- Cash +€18,287
up €18,287 (+10.4%), from €176,400 to €194,687
mainly Depreciation (+€29,016) and Debts after one year (+€22,093)
- Debts after one year +€22,093
up €22,093 (+19.8%), from €111,708 to €133,801
- Reserves +€19,555
new in 2025: €19,555
- Current portion of long-term debt +€9,605
up €9,605 (+54.8%), from €17,540 to €27,145
- Purchases and services +€6,217
up €6,217 (+5.1%), from €121,445 to €127,662
- Depreciation -€3,747
down €3,747 (-11.4%), from €32,763 to €29,016
- Gross operating margin -€3,326
down €3,326 (-5.1%), from €65,394 to €62,068
- Financial income -€2,221
down €2,221 (-80.6%), from €2,756 to €535
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 | €308,804 | €361,503 | +€52,699 | +17.1% |
| Fixed assets | 21/28 | €120,164 | €152,123 | +€31,959 | +26.6% |
| Intangible fixed assets | 21 | €95,690 | €71,767 | -€23,923 | -25.0% |
| Tangible fixed assets | 22/27 | €24,474 | €80,356 | +€55,882 | +228.3% |
| Furniture and vehicles | 24 | €23,514 | €80,356 | +€56,842 | +241.7% |
| Other tangible fixed assets | 26 | €960 | - | -€960 | |
| Current assets | 29/58 | €188,640 | €209,380 | +€20,740 | +11.0% |
| Amounts receivable within one year | 40/41 | €359 | €1,189 | +€830 | +231.2% |
| Trade receivables | 40 | - | €1,189 | +€1,189 | |
| Other amounts receivable | 41 | €359 | - | -€359 | |
| Cash at bank and in hand | 54/58 | €176,400 | €194,687 | +€18,287 | +10.4% |
| Deferred charges and accrued income | 490/1 | €11,881 | €13,504 | +€1,623 | +13.7% |
| Total equity and liabilities | 10/49 | €308,804 | €361,503 | +€52,699 | +17.1% |
| Equity | 10/15 | €176,947 | €196,503 | +€19,556 | +11.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | - | €19,555 | +€19,555 | |
| Distributable reserves | 133 | - | €19,555 | +€19,555 | |
| Profit (loss) carried forward | 14 | €168,887 | €168,888 | +€1 | 0.0% |
| Amounts payable | 17/49 | €131,857 | €165,000 | +€33,143 | +25.1% |
| Amounts payable after more than one year | 17 | €111,708 | €133,801 | +€22,093 | +19.8% |
| Financial debts | 170/4 | €111,708 | €133,801 | +€22,093 | +19.8% |
| Amounts payable within one year | 42/48 | €20,149 | €30,499 | +€10,350 | +51.4% |
| Current portion of amounts payable after more than one year | 42 | €17,540 | €27,145 | +€9,605 | +54.8% |
| Trade debts | 44 | €481 | - | -€481 | |
| Suppliers | 440/4 | €481 | - | -€481 | |
| Taxes, remuneration and social security | 45 | €2,128 | €3,354 | +€1,226 | +57.6% |
| Taxes | 450/3 | €1,478 | €3,354 | +€1,876 | +126.9% |
| Remuneration and social security | 454/9 | €650 | - | -€650 | |
| Accrued charges and deferred income | 492/3 | - | €700 | +€700 | |
| Turnover | 70 | €186,840 | €187,825 | +€985 | +0.5% |
| Non-recurring operating income | 76A | - | €1,906 | +€1,906 | |
| Goods, raw materials, services and sundry goods | 60/61 | €121,445 | €127,662 | +€6,217 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,763 | €29,016 | -€3,747 | -11.4% |
| Other operating charges | 640/8 | €561 | €608 | +€47 | +8.4% |
| Non-recurring operating charges | 66A | - | €293 | +€293 | |
| Gross operating margin | 9900 | €65,394 | €62,068 | -€3,326 | -5.1% |
| Operating profit (loss) | 9901 | €32,070 | €32,151 | +€81 | +0.3% |
| Financial income | 75/76B | €2,756 | €535 | -€2,221 | -80.6% |
| Recurring financial income | 75 | €2,756 | €535 | -€2,221 | -80.6% |
| Financial charges | 65/66B | €4,376 | €4,015 | -€361 | -8.2% |
| Recurring financial charges | 65 | €4,376 | €4,015 | -€361 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €30,450 | €28,671 | -€1,779 | -5.8% |
| Income taxes | 67/77 | €7,907 | €9,115 | +€1,208 | +15.3% |
| Profit (loss) for the period | 9904 | €22,543 | €19,556 | -€2,987 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,543 | €19,556 | -€2,987 | -13.3% |
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 12 October 2026 via checked.be.