BMAS: 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.
BMAS
Largest movements
- Receivables within one year +€62,971
up €62,971 (+31.1%), from €202,621 to €265,591
of which Other amounts receivable: +€58,303
- Tangible fixed assets -€17,034
down €17,034 (-7.1%), from €239,445 to €222,411
of which Furniture and vehicles: -€12,120
- Deferred charges and accrued income -€10,800
down €10,800 (-10.7%), from €100,800 to €90,000
- Reserves +€73,994
up €73,994 (+19.7%), from €376,058 to €450,053
of which Distributable reserves: +€73,994
- Debts after one year -€23,844
down €23,844 (-13.2%), from €180,491 to €156,646
- Trade debts -€18,130
down €18,130 (-53.7%), from €33,765 to €15,635
- Gross operating margin +€49,315
up €49,315 (+44.7%), from €110,266 to €159,581
- Taxes +€15,261
up €15,261 (+107.5%), from €14,194 to €29,455
- Staff costs -€8,473
down €8,473 (-24.7%), from €34,310 to €25,837
- Other operating charges -€6,661
down €6,661 (-73.7%), from €9,043 to €2,382
- Depreciation +€5,252
up €5,252 (+23.1%), from €22,767 to €28,019
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 | €693,087 | €722,534 | +€29,446 | +4.2% |
| Fixed assets | 21/28 | €239,662 | €222,628 | -€17,034 | -7.1% |
| Tangible fixed assets | 22/27 | €239,445 | €222,411 | -€17,034 | -7.1% |
| Plant, machinery and equipment | 23 | €5,196 | €4,057 | -€1,140 | -21.9% |
| Furniture and vehicles | 24 | €43,752 | €31,632 | -€12,120 | -27.7% |
| Other tangible fixed assets | 26 | €186,488 | €179,714 | -€6,775 | -3.6% |
| Assets under construction and advance payments | 27 | €4,008 | €7,008 | +€3,000 | +74.9% |
| Financial fixed assets | 28 | €217 | €217 | = | 0.0% |
| Current assets | 29/58 | €453,425 | €499,906 | +€46,480 | +10.3% |
| Amounts receivable after more than one year | 29 | €144,000 | €144,000 | = | 0.0% |
| Other amounts receivable | 291 | €144,000 | €144,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €202,621 | €265,591 | +€62,971 | +31.1% |
| Trade receivables | 40 | €28,309 | €32,977 | +€4,668 | +16.5% |
| Other amounts receivable | 41 | €174,312 | €232,615 | +€58,303 | +33.4% |
| Cash at bank and in hand | 54/58 | €6,005 | €315 | -€5,690 | -94.8% |
| Deferred charges and accrued income | 490/1 | €100,800 | €90,000 | -€10,800 | -10.7% |
| Total equity and liabilities | 10/49 | €693,087 | €722,534 | +€29,446 | +4.2% |
| Equity | 10/15 | €394,658 | €468,653 | +€73,994 | +18.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €376,058 | €450,053 | +€73,994 | +19.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €374,198 | €448,193 | +€73,994 | +19.8% |
| Amounts payable | 17/49 | €298,429 | €253,881 | -€44,548 | -14.9% |
| Amounts payable after more than one year | 17 | €180,491 | €156,646 | -€23,844 | -13.2% |
| Financial debts | 170/4 | €180,491 | €156,646 | -€23,844 | -13.2% |
| Amounts payable within one year | 42/48 | €117,938 | €97,234 | -€20,704 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €23,293 | €23,844 | +€551 | +2.4% |
| Trade debts | 44 | €33,765 | €15,635 | -€18,130 | -53.7% |
| Suppliers | 440/4 | €33,765 | €15,635 | -€18,130 | -53.7% |
| Taxes, remuneration and social security | 45 | €60,880 | €57,755 | -€3,125 | -5.1% |
| Taxes | 450/3 | €53,149 | €47,073 | -€6,076 | -11.4% |
| Remuneration and social security | 454/9 | €7,730 | €10,681 | +€2,951 | +38.2% |
| Remuneration, social security and pensions | 62 | €34,310 | €25,837 | -€8,473 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,767 | €28,019 | +€5,252 | +23.1% |
| Other operating charges | 640/8 | €9,043 | €2,382 | -€6,661 | -73.7% |
| Gross operating margin | 9900 | €110,266 | €159,581 | +€49,315 | +44.7% |
| Operating profit (loss) | 9901 | €44,146 | €103,343 | +€59,197 | +134.1% |
| Financial income | 75/76B | €4,166 | €6,727 | +€2,561 | +61.5% |
| Recurring financial income | 75 | €4,166 | €6,727 | +€2,561 | +61.5% |
| Financial charges | 65/66B | €7,178 | €6,621 | -€557 | -7.8% |
| Recurring financial charges | 65 | €7,178 | €6,621 | -€557 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €41,135 | €103,449 | +€62,315 | +151.5% |
| Income taxes | 67/77 | €14,194 | €29,455 | +€15,261 | +107.5% |
| Profit (loss) for the period | 9904 | €26,940 | €73,994 | +€47,054 | +174.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,940 | €73,994 | +€47,054 | +174.7% |
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 11 October 2026 via checked.be.