BMACON: 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.
What changed
BMACON
NACE 70.200, Business and other management consultancy
financial year 2023 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
€3.2m
2023 · €1.4m+€1.8m
Equity
€37.8m
2023 · €11.6m+€26.2m
Cash
€51,869
2023 · €134,923-€83,054
Balance sheet total
€49.9m
2023 · €26.7m+€23.2m
Largest movements
Assets
- Financial fixed assets +€23.5m
up €23.5m (+89.8%), from €26.1m to €49.6m
Equity and liabilities
- Contributions +€23.5m
up €23.5m (+938.4%), from €2.5m to €26.0m
- Debts after one year -€13.6m
down €13.6m (-99.7%), from €13.7m to €47,720
- Current portion of long-term debt +€11.5m
new in 2025: €11.5m
- Profit (loss) carried forward +€2.7m
up €2.7m (+31.8%), from €8.5m to €11.2m
- Other debts -€1.2m
down €1.2m (-100.0%), from €1.2m to €0
Income statement
- Financial income +€2.4m
up €2.4m (+183.9%), from €1.3m to €3.7m
- Staff costs +€490,974
new in 2025: €490,974
- Services and other goods -€276,906
down €276,906 (-34.2%), from €809,355 to €532,449
- Financial charges +€204,322
up €204,322 (+89.3%), from €228,779 to €433,101
- Turnover -€168,072
down €168,072 (-14.0%), from €1.2m to €1.0m
From the 2023 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.
Result 2023
€1.4m
Turnover
-€168,072
Other operating income
+€879
Services and other goods
+€276,906
Staff costs
-€490,974
Depreciation
-€5,287
Other operating charges
-€691
Financial income
+€2.4m
Financial charges
-€204,322
Taxes
+€53,700
Result 2025
€3.2m
Cash bridge derived
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,701,450 | €49,927,177 | +€23.2m | +87.0% |
| Fixed assets | 21/28 | €26,130,987 | €49,669,601 | +€23.5m | +90.1% |
| Tangible fixed assets | 22/27 | - | €68,979 | +€68,979 | |
| Land and buildings | 22 | - | €3,773 | +€3,773 | |
| Leasing and similar rights | 25 | - | €65,206 | +€65,206 | |
| Financial fixed assets | 28 | €26,130,987 | €49,600,622 | +€23.5m | +89.8% |
| Affiliated companies | 280/1 | €26,130,987 | €49,600,622 | +€23.5m | +89.8% |
| Participating interests | 280 | €26,130,987 | €49,600,622 | +€23.5m | +89.8% |
| Current assets | 29/58 | €570,463 | €257,576 | -€312,887 | -54.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €431,389 | €202,574 | -€228,815 | -53.0% |
| Trade receivables | 40 | €408,074 | €200,106 | -€207,968 | -51.0% |
| Other amounts receivable | 41 | €23,315 | €2,469 | -€20,846 | -89.4% |
| Cash at bank and in hand | 54/58 | €134,923 | €51,869 | -€83,054 | -61.6% |
| Deferred charges and accrued income | 490/1 | €4,152 | €3,132 | -€1,020 | -24.6% |
| Total equity and liabilities | 10/49 | €26,701,450 | €49,927,177 | +€23.2m | +87.0% |
| Equity | 10/15 | €11,641,398 | €37,817,063 | +€26.2m | +224.8% |
| Contributions | 10/11 | €2,500,951 | €25,970,585 | +€23.5m | +938.4% |
| Reserves | 13 | €630,607 | €630,607 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €630,607 | €630,607 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €630,607 | €630,607 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €8,509,840 | €11,215,871 | +€2.7m | +31.8% |
| Amounts payable | 17/49 | €15,060,052 | €12,110,114 | -€2.9m | -19.6% |
| Amounts payable after more than one year | 17 | €13,650,000 | €47,720 | -€13.6m | -99.7% |
| Financial debts | 170/4 | €13,650,000 | €47,720 | -€13.6m | -99.7% |
| Subordinated loans | 170 | €13,650,000 | €0 | -€13.7m | -100.0% |
| Leasing and similar obligations | 172 | - | €47,720 | +€47,720 | |
| Amounts payable within one year | 42/48 | €1,407,823 | €11,605,955 | +€10.2m | +724.4% |
| Current portion of amounts payable after more than one year | 42 | - | €11,516,690 | +€11.5m | |
| Trade debts | 44 | €168,280 | €8,962 | -€159,318 | -94.7% |
| Suppliers | 440/4 | €168,280 | €8,962 | -€159,318 | -94.7% |
| Taxes, remuneration and social security | 45 | €62,206 | €80,303 | +€18,097 | +29.1% |
| Taxes | 450/3 | €62,206 | €250 | -€61,956 | -99.6% |
| Remuneration and social security | 454/9 | - | €80,054 | +€80,054 | |
| Other amounts payable | 47/48 | €1,177,337 | €0 | -€1.2m | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,229 | €456,439 | +€454,210 | +20374.8% |
| Operating income | 70/76A | €1,198,722 | €1,031,529 | -€167,193 | -13.9% |
| Turnover | 70 | €1,198,722 | €1,030,650 | -€168,072 | -14.0% |
| Other operating income | 74 | - | €879 | +€879 | |
| Operating charges | 60/66A | €810,424 | €1,030,470 | +€220,046 | +27.2% |
| Services and other goods | 61 | €809,355 | €532,449 | -€276,906 | -34.2% |
| Remuneration, social security and pensions | 62 | - | €490,974 | +€490,974 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,287 | +€5,287 | |
| Other operating charges | 640/8 | €1,069 | €1,760 | +€691 | +64.6% |
| Operating profit (loss) | 9901 | €388,298 | €1,059 | -€387,239 | -99.7% |
| Financial income | 75/76B | €1,294,238 | €3,674,149 | +€2.4m | +183.9% |
| Recurring financial income | 75 | €1,294,238 | €3,674,149 | +€2.4m | +183.9% |
| Income from financial fixed assets | 750 | €1,252,584 | €3,665,310 | +€2.4m | +192.6% |
| Other financial income | 752/9 | €41,654 | €8,839 | -€32,815 | -78.8% |
| Financial charges | 65/66B | €228,779 | €433,101 | +€204,322 | +89.3% |
| Recurring financial charges | 65 | €228,779 | €433,101 | +€204,322 | +89.3% |
| Debt charges | 650 | €228,055 | €432,384 | +€204,329 | +89.6% |
| Other financial charges | 652/9 | €723 | €716 | -€7 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €1,453,757 | €3,242,107 | +€1.8m | +123.0% |
| Income taxes | 67/77 | €54,000 | €300 | -€53,700 | -99.4% |
| Taxes | 670/3 | €54,000 | €300 | -€53,700 | -99.4% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €1,399,757 | €3,241,807 | +€1.8m | +131.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,399,757 | €3,241,807 | +€1.8m | +131.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.