BMANAGEMENT: 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.
BMANAGEMENT
Largest movements
- Tangible fixed assets -€70,043
down €70,043 (-8.2%), from €857,870 to €787,826
of which Land and buildings: -€60,425
- Deferred charges and accrued income -€40,326
down €40,326 (-81.2%), from €49,668 to €9,342
- Cash +€21,099
up €21,099 (+96.3%), from €21,921 to €43,020
mainly Depreciation (+€70,043) and Deferred charges and accrued income (+€40,326)
- Other debts -€41,981
down €41,981 (-15.8%), from €266,320 to €224,339
- Debts after one year -€31,616
down €31,616 (-5.9%), from €531,809 to €500,193
- Gross operating margin -€33,371
down €33,371 (-28.7%), from €116,422 to €83,051
- Taxes -€9,397
down €9,397 (-81.1%), from €11,580 to €2,183
- Other operating charges -€3,773
down €3,773 (-58.2%), from €6,488 to €2,714
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 | €1,186,690 | €1,103,202 | -€83,488 | -7.0% |
| Fixed assets | 21/28 | €1,066,814 | €997,295 | -€69,520 | -6.5% |
| Tangible fixed assets | 22/27 | €857,870 | €787,826 | -€70,043 | -8.2% |
| Land and buildings | 22 | €831,519 | €771,094 | -€60,425 | -7.3% |
| Furniture and vehicles | 24 | €26,351 | €16,733 | -€9,619 | -36.5% |
| Financial fixed assets | 28 | €208,944 | €209,468 | +€524 | +0.3% |
| Current assets | 29/58 | €119,876 | €105,908 | -€13,968 | -11.7% |
| Amounts receivable within one year | 40/41 | €48,287 | €53,546 | +€5,259 | +10.9% |
| Trade receivables | 40 | €48,287 | €53,546 | +€5,259 | +10.9% |
| Cash at bank and in hand | 54/58 | €21,921 | €43,020 | +€21,099 | +96.3% |
| Deferred charges and accrued income | 490/1 | €49,668 | €9,342 | -€40,326 | -81.2% |
| Total equity and liabilities | 10/49 | €1,186,690 | €1,103,202 | -€83,488 | -7.0% |
| Equity | 10/15 | €276,067 | €271,782 | -€4,284 | -1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €37,513 | €37,513 | = | 0.0% |
| Distributable reserves | 133 | €37,513 | €37,513 | = | 0.0% |
| Profit (loss) carried forward | 14 | €226,153 | €221,869 | -€4,284 | -1.9% |
| Amounts payable | 17/49 | €910,623 | €831,420 | -€79,203 | -8.7% |
| Amounts payable after more than one year | 17 | €531,809 | €500,193 | -€31,616 | -5.9% |
| Financial debts | 170/4 | €531,809 | €500,193 | -€31,616 | -5.9% |
| Amounts payable within one year | 42/48 | €373,668 | €329,819 | -€43,850 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €34,452 | €34,987 | +€535 | +1.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €30,705 | €33,569 | +€2,864 | +9.3% |
| Suppliers | 440/4 | €30,705 | €33,569 | +€2,864 | +9.3% |
| Taxes, remuneration and social security | 45 | €42,191 | €36,924 | -€5,268 | -12.5% |
| Taxes | 450/3 | €38,191 | €32,924 | -€5,268 | -13.8% |
| Remuneration and social security | 454/9 | €4,000 | €4,000 | = | 0.0% |
| Other amounts payable | 47/48 | €266,320 | €224,339 | -€41,981 | -15.8% |
| Accrued charges and deferred income | 492/3 | €5,146 | €1,408 | -€3,738 | -72.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,239 | €70,043 | +€804 | +1.2% |
| Other operating charges | 640/8 | €6,488 | €2,714 | -€3,773 | -58.2% |
| Gross operating margin | 9900 | €116,422 | €83,051 | -€33,371 | -28.7% |
| Operating profit (loss) | 9901 | €40,695 | €10,294 | -€30,401 | -74.7% |
| Financial income | 75/76B | €8 | €33 | +€25 | +296.0% |
| Recurring financial income | 75 | €8 | €33 | +€25 | +296.0% |
| Financial charges | 65/66B | €13,159 | €12,429 | -€731 | -5.6% |
| Recurring financial charges | 65 | €13,159 | €12,429 | -€731 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €27,544 | -€2,101 | -€29,646 | |
| Income taxes | 67/77 | €11,580 | €2,183 | -€9,397 | -81.1% |
| Profit (loss) for the period | 9904 | €15,964 | -€4,284 | -€20,248 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,964 | -€4,284 | -€20,248 |
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 29 September 2026 via checked.be.