BMA PROJECTS: 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 PROJECTS
Largest movements
- Cash -€44,995
down €44,995 (-23.8%), from €189,303 to €144,308
mainly Other debts (-€58,474) and Tax, wage and social debts (-€9,173)
- Tangible fixed assets -€27,639
down €27,639 (-74.9%), from €36,915 to €9,276
of which Furniture and vehicles: -€25,740
- Deferred charges and accrued income -€5,762
down €5,762 (-88.9%), from €6,478 to €716
- Receivables within one year +€2,332
new in 2025: €2,332
- Other debts -€58,474
no longer reported in 2025 (was €58,474)
- Tax, wage and social debts -€9,173
down €9,173 (-87.0%), from €10,538 to €1,365
- Trade debts -€7,870
down €7,870 (-67.9%), from €11,597 to €3,728
- Gross operating margin -€30,104
down €30,104 (-43.4%), from €69,407 to €39,303
- Taxes -€13,326
down €13,326 (-72.5%), from €18,378 to €5,052
- Other operating charges +€706
up €706 (+105.6%), from €669 to €1,375
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 | €232,696 | €156,632 | -€76,063 | -32.7% |
| Fixed assets | 21/28 | €36,915 | €9,276 | -€27,639 | -74.9% |
| Tangible fixed assets | 22/27 | €36,915 | €9,276 | -€27,639 | -74.9% |
| Plant, machinery and equipment | 23 | €6,853 | €4,954 | -€1,899 | -27.7% |
| Furniture and vehicles | 24 | €30,062 | €4,321 | -€25,740 | -85.6% |
| Current assets | 29/58 | €195,781 | €147,357 | -€48,424 | -24.7% |
| Amounts receivable within one year | 40/41 | - | €2,332 | +€2,332 | |
| Other amounts receivable | 41 | - | €2,332 | +€2,332 | |
| Cash at bank and in hand | 54/58 | €189,303 | €144,308 | -€44,995 | -23.8% |
| Deferred charges and accrued income | 490/1 | €6,478 | €716 | -€5,762 | -88.9% |
| Total equity and liabilities | 10/49 | €232,696 | €156,632 | -€76,063 | -32.7% |
| Equity | 10/15 | €152,087 | €151,540 | -€547 | -0.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €101,940 | €101,940 | = | 0.0% |
| Distributable reserves | 133 | €101,940 | €101,940 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,147 | €44,600 | -€547 | -1.2% |
| Amounts payable | 17/49 | €80,609 | €5,093 | -€75,516 | -93.7% |
| Amounts payable within one year | 42/48 | €80,609 | €5,093 | -€75,516 | -93.7% |
| Trade debts | 44 | €11,597 | €3,728 | -€7,870 | -67.9% |
| Suppliers | 440/4 | €11,597 | €3,728 | -€7,870 | -67.9% |
| Taxes, remuneration and social security | 45 | €10,538 | €1,365 | -€9,173 | -87.0% |
| Taxes | 450/3 | €10,538 | €1,365 | -€9,173 | -87.0% |
| Other amounts payable | 47/48 | €58,474 | - | -€58,474 | |
| Non-recurring operating income | 76A | €223 | - | -€223 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,400 | €5,089 | -€310 | -5.7% |
| Other operating charges | 640/8 | €669 | €1,375 | +€706 | +105.6% |
| Non-recurring operating charges | 66A | - | €22,550 | +€22,550 | |
| Gross operating margin | 9900 | €69,407 | €39,303 | -€30,104 | -43.4% |
| Operating profit (loss) | 9901 | €63,339 | €10,289 | -€53,050 | -83.8% |
| Financial income | 75/76B | €1,382 | €1,849 | +€467 | +33.8% |
| Recurring financial income | 75 | €1,382 | €1,849 | +€467 | +33.8% |
| Financial charges | 65/66B | €97 | €51 | -€46 | -47.7% |
| Recurring financial charges | 65 | €97 | €51 | -€46 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €64,623 | €12,087 | -€52,536 | -81.3% |
| Income taxes | 67/77 | €18,378 | €5,052 | -€13,326 | -72.5% |
| Profit (loss) for the period | 9904 | €46,245 | €7,035 | -€39,210 | -84.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,245 | €7,035 | -€39,210 | -84.8% |
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 28 September 2026 via checked.be.