BMEF: 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.
BMEF
Largest movements
- Tangible fixed assets -€396,058
down €396,058 (-11.2%), from €3.5m to €3.1m
of which Land and buildings: -€395,747
- Receivables within one year +€80,088
up €80,088 (+672.2%), from €11,915 to €92,003
of which Other amounts receivable: +€77,500
- Intangible fixed assets -€78,301
down €78,301 (-12.5%), from €626,410 to €548,109
- Profit (loss) carried forward -€220,019
down €220,019 (-19.7%), from -€1.1m to -€1.3m
- Advances received -€160,000
down €160,000 (-100.0%), from €160,000 to €0
- Debts after one year -€95,102
down €95,102 (-3.9%), from €2.4m to €2.3m
- Other debts +€75,751
up €75,751 (+6.1%), from €1.2m to €1.3m
- Gross operating margin +€91,625
up €91,625 (+76.6%), from €119,651 to €211,277
- Financial charges +€40,934
up €40,934 (+89.5%), from €45,730 to €86,664
- Other operating charges -€8,130
down €8,130 (-22.6%), from €35,899 to €27,769
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 | €4,177,283 | €3,783,015 | -€394,268 | -9.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €4,160,913 | €3,686,554 | -€474,359 | -11.4% |
| Intangible fixed assets | 21 | €626,410 | €548,109 | -€78,301 | -12.5% |
| Tangible fixed assets | 22/27 | €3,534,503 | €3,138,445 | -€396,058 | -11.2% |
| Land and buildings | 22 | €3,532,977 | €3,137,230 | -€395,747 | -11.2% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,527 | €1,215 | -€312 | -20.4% |
| Current assets | 29/58 | €16,370 | €96,461 | +€80,091 | +489.3% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €11,915 | €92,003 | +€80,088 | +672.2% |
| Trade receivables | 40 | €11,915 | €14,503 | +€2,588 | +21.7% |
| Other amounts receivable | 41 | €0 | €77,500 | +€77,500 | |
| Cash at bank and in hand | 54/58 | €4,455 | €4,458 | +€3 | +0.1% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €4,177,283 | €3,783,015 | -€394,268 | -9.4% |
| Equity | 10/15 | €250,984 | €30,965 | -€220,019 | -87.7% |
| Contributions | 10/11 | €1,320,000 | €1,320,000 | = | 0.0% |
| Reserves | 13 | €48,240 | €48,240 | = | 0.0% |
| Distributable reserves | 133 | €48,240 | €48,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,117,256 | -€1,337,275 | -€220,019 | -19.7% |
| Amounts payable | 17/49 | €3,926,299 | €3,752,050 | -€174,249 | -4.4% |
| Amounts payable after more than one year | 17 | €2,420,676 | €2,325,574 | -€95,102 | -3.9% |
| Financial debts | 170/4 | €2,420,676 | €2,325,574 | -€95,102 | -3.9% |
| Amounts payable within one year | 42/48 | €1,503,260 | €1,423,909 | -€79,350 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €91,931 | €95,102 | +€3,171 | +3.4% |
| Trade debts | 44 | €5,679 | €8,019 | +€2,340 | +41.2% |
| Suppliers | 440/4 | €5,679 | €8,019 | +€2,340 | +41.2% |
| Advances received on contracts in progress | 46 | €160,000 | €0 | -€160,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €923 | €310 | -€612 | -66.4% |
| Taxes | 450/3 | €923 | €310 | -€612 | -66.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,244,728 | €1,320,479 | +€75,751 | +6.1% |
| Accrued charges and deferred income | 492/3 | €2,364 | €2,567 | +€203 | +8.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €316,490 | €316,699 | +€209 | +0.1% |
| Other operating charges | 640/8 | €35,899 | €27,769 | -€8,130 | -22.6% |
| Non-recurring operating charges | 66A | €1,748 | - | -€1,748 | |
| Gross operating margin | 9900 | €119,651 | €211,277 | +€91,625 | +76.6% |
| Operating profit (loss) | 9901 | -€234,486 | -€133,191 | +€101,294 | +43.2% |
| Financial income | 75/76B | €19 | €1 | -€18 | -95.8% |
| Recurring financial income | 75 | €19 | €1 | -€18 | -95.8% |
| Financial charges | 65/66B | €45,730 | €86,664 | +€40,934 | +89.5% |
| Recurring financial charges | 65 | €45,730 | €86,664 | +€40,934 | +89.5% |
| Profit (loss) for the period before taxes | 9903 | -€280,196 | -€219,854 | +€60,341 | +21.5% |
| Income taxes | 67/77 | €168 | €165 | -€4 | -2.3% |
| Profit (loss) for the period | 9904 | -€280,364 | -€220,019 | +€60,345 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€280,364 | -€220,019 | +€60,345 | +21.5% |
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 12 October 2026 via checked.be.