BMD - INVEST: 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.
BMD - INVEST
Largest movements
- Receivables within one year +€381,447
up €381,447 (+173%), from €220,977 to €602,424
of which Other amounts receivable: +€246,928
- Tangible fixed assets -€370,482
down €370,482 (-47.7%), from €777,036 to €406,554
of which Land and buildings: -€352,182
- Cash -€55,199
down €55,199 (-99.7%), from €55,383 to €184
mainly Debts after one year (-€392,952) and Receivables within one year (-€381,447)
- Debts after one year -€392,952
down €392,952 (-51.7%), from €759,917 to €366,965
of which Financial debts: -€389,002
- Other debts +€269,237
up €269,237 (+183%), from €147,230 to €416,467
- Current portion of long-term debt +€193,139
new in 2025: €193,139
- Tax, wage and social debts -€50,486
down €50,486 (-99.8%), from €50,586 to €100
of which Taxes: -€25,783
- Trade debts -€31,937
down €31,937 (-96.7%), from €33,036 to €1,099
- Depreciation +€57,891
up €57,891 (+144%), from €40,121 to €98,012
- Purchases and services -€40,724
down €40,724 (-47.2%), from €86,212 to €45,488
- Turnover -€30,269
down €30,269 (-15.1%), from €200,892 to €170,623
- Gross operating margin -€12,812
down €12,812 (-11.2%), from €114,680 to €101,868
- Financial charges -€6,558
down €6,558 (-47.8%), from €13,715 to €7,157
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.
Derived cash bridge
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 | €1,086,588 | €1,042,408 | -€44,180 | -4.1% |
| Fixed assets | 21/28 | €777,036 | €406,554 | -€370,482 | -47.7% |
| Tangible fixed assets | 22/27 | €777,036 | €406,554 | -€370,482 | -47.7% |
| Land and buildings | 22 | €694,841 | €342,659 | -€352,182 | -50.7% |
| Plant, machinery and equipment | 23 | €10,677 | €7,823 | -€2,854 | -26.7% |
| Furniture and vehicles | 24 | €45,412 | €35,887 | -€9,525 | -21.0% |
| Leasing and similar rights | 25 | €15,200 | €9,765 | -€5,435 | -35.8% |
| Other tangible fixed assets | 26 | €10,906 | €10,420 | -€486 | -4.5% |
| Current assets | 29/58 | €309,552 | €635,854 | +€326,302 | +105% |
| Amounts receivable after more than one year | 29 | - | €54 | +€54 | |
| Other amounts receivable | 291 | - | €54 | +€54 | |
| Amounts receivable within one year | 40/41 | €220,977 | €602,424 | +€381,447 | +173% |
| Trade receivables | 40 | €215,191 | €349,710 | +€134,519 | +62.5% |
| Other amounts receivable | 41 | €5,786 | €252,714 | +€246,928 | +4,268% |
| Current investments | 50/53 | €20,734 | €20,734 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €55,383 | €184 | -€55,199 | -99.7% |
| Deferred charges and accrued income | 490/1 | €12,458 | €12,458 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,086,588 | €1,042,408 | -€44,180 | -4.1% |
| Equity | 10/15 | €80,049 | €64,488 | -€15,561 | -19.4% |
| Contributions | 10/11 | €176,973 | €176,973 | = | 0.0% |
| Capital | 10 | €81,973 | €81,973 | = | 0.0% |
| Issued capital | 100 | €81,973 | €81,973 | = | 0.0% |
| Contributions outside capital | 11 | €95,000 | €95,000 | = | 0.0% |
| Other | 1109/19 | €95,000 | €95,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,924 | -€112,485 | -€15,561 | -16.1% |
| Amounts payable | 17/49 | €1,006,539 | €977,920 | -€28,619 | -2.8% |
| Amounts payable after more than one year | 17 | €759,917 | €366,965 | -€392,952 | -51.7% |
| Financial debts | 170/4 | €755,967 | €366,965 | -€389,002 | -51.5% |
| Other amounts payable | 178/9 | €3,950 | €0 | -€3,950 | -100% |
| Amounts payable within one year | 42/48 | €230,852 | €610,805 | +€379,953 | +165% |
| Current portion of amounts payable after more than one year | 42 | - | €193,139 | +€193,139 | |
| Trade debts | 44 | €33,036 | €1,099 | -€31,937 | -96.7% |
| Suppliers | 440/4 | €33,036 | €1,099 | -€31,937 | -96.7% |
| Taxes, remuneration and social security | 45 | €50,586 | €100 | -€50,486 | -99.8% |
| Taxes | 450/3 | €25,883 | €100 | -€25,783 | -99.6% |
| Remuneration and social security | 454/9 | €24,703 | - | -€24,703 | |
| Other amounts payable | 47/48 | €147,230 | €416,467 | +€269,237 | +183% |
| Accrued charges and deferred income | 492/3 | €15,770 | €150 | -€15,620 | -99.0% |
| Turnover | 70 | €200,892 | €170,623 | -€30,269 | -15.1% |
| Non-recurring operating income | 76A | - | €23,267 | +€23,267 | |
| Goods, raw materials, services and sundry goods | 60/61 | €86,212 | €45,488 | -€40,724 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,121 | €98,012 | +€57,891 | +144% |
| Other operating charges | 640/8 | €171 | €2,123 | +€1,952 | +1,142% |
| Non-recurring operating charges | 66A | - | €10,152 | +€10,152 | |
| Gross operating margin | 9900 | €114,680 | €101,868 | -€12,812 | -11.2% |
| Operating profit (loss) | 9901 | €74,388 | -€8,419 | -€82,807 | |
| Financial income | 75/76B | €73 | €20 | -€53 | -72.6% |
| Recurring financial income | 75 | €73 | €20 | -€53 | -72.6% |
| Financial charges | 65/66B | €13,715 | €7,157 | -€6,558 | -47.8% |
| Recurring financial charges | 65 | €13,715 | €7,157 | -€6,558 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €60,746 | -€15,556 | -€76,302 | |
| Income taxes | 67/77 | €16 | €5 | -€11 | -68.8% |
| Profit (loss) for the period | 9904 | €60,730 | -€15,561 | -€76,291 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,730 | -€15,561 | -€76,291 |
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 30 October 2026 via checked.be.