BMZ: 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.
BMZ
Largest movements
- Tangible fixed assets +€140,239
up €140,239 (+19.7%), from €710,555 to €850,794
of which Furniture and vehicles: +€109,119
- Cash -€58,917
down €58,917 (-73.7%), from €79,892 to €20,975
mainly Investment in fixed assets (net) (-€208,715) and Contributions, distributions and other (-€30,000)
- Receivables within one year -€31,180
down €31,180 (-30.6%), from €102,040 to €70,859
of which Other amounts receivable: -€21,650
- Tax, wage and social debts -€27,193
down €27,193 (-59.0%), from €46,122 to €18,929
of which Taxes: -€24,158
- Reserves +€23,625
up €23,625 (+6.6%), from €355,780 to €379,405
- Trade debts +€22,259
up €22,259 (+121.5%), from €18,322 to €40,581
- Current portion of long-term debt +€19,155
up €19,155 (+26.0%), from €73,563 to €92,718
- Short-term financial debts +€17,439
up €17,439 (+106.6%), from €16,364 to €33,803
- Staff costs +€31,204
up €31,204 (+31.1%), from €100,369 to €131,573
- Depreciation +€29,457
up €29,457 (+75.5%), from €39,019 to €68,475
- Gross operating margin +€19,226
up €19,226 (+5.3%), from €363,240 to €382,466
- Taxes -€19,045
down €19,045 (-59.9%), from €31,793 to €12,748
- Financial charges +€18,066
up €18,066 (+18.9%), from €95,352 to €113,418
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 | €895,420 | €945,381 | +€49,960 | +5.6% |
| Fixed assets | 21/28 | €710,555 | €850,794 | +€140,239 | +19.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €710,555 | €850,794 | +€140,239 | +19.7% |
| Land and buildings | 22 | €564,359 | €598,651 | +€34,293 | +6.1% |
| Plant, machinery and equipment | 23 | €1,308 | €935 | -€373 | -28.5% |
| Furniture and vehicles | 24 | €122,952 | €232,072 | +€109,119 | +88.7% |
| Other tangible fixed assets | 26 | €21,936 | €19,137 | -€2,799 | -12.8% |
| Current assets | 29/58 | €184,865 | €94,586 | -€90,279 | -48.8% |
| Amounts receivable within one year | 40/41 | €102,040 | €70,859 | -€31,180 | -30.6% |
| Trade receivables | 40 | €79,750 | €70,219 | -€9,531 | -12.0% |
| Other amounts receivable | 41 | €22,290 | €640 | -€21,650 | -97.1% |
| Cash at bank and in hand | 54/58 | €79,892 | €20,975 | -€58,917 | -73.7% |
| Deferred charges and accrued income | 490/1 | €2,933 | €2,752 | -€182 | -6.2% |
| Total equity and liabilities | 10/49 | €895,420 | €945,381 | +€49,960 | +5.6% |
| Equity | 10/15 | €389,150 | €412,775 | +€23,625 | +6.1% |
| Contributions | 10/11 | €33,370 | €33,370 | = | 0.0% |
| Reserves | 13 | €355,780 | €379,405 | +€23,625 | +6.6% |
| Distributable reserves | 133 | €355,780 | €379,405 | +€23,625 | +6.6% |
| Provisions and deferred taxes | 16 | €21,870 | €21,870 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €21,870 | €21,870 | = | 0.0% |
| Pensions and similar obligations | 160 | €21,870 | €21,870 | = | 0.0% |
| Amounts payable | 17/49 | €484,401 | €510,736 | +€26,335 | +5.4% |
| Amounts payable after more than one year | 17 | €244,163 | €234,262 | -€9,901 | -4.1% |
| Financial debts | 170/4 | €244,163 | €234,262 | -€9,901 | -4.1% |
| Amounts payable within one year | 42/48 | €239,947 | €276,174 | +€36,227 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €73,563 | €92,718 | +€19,155 | +26.0% |
| Financial debts | 43 | €16,364 | €33,803 | +€17,439 | +106.6% |
| Credit institutions | 430/8 | €16,364 | €33,803 | +€17,439 | +106.6% |
| Trade debts | 44 | €18,322 | €40,581 | +€22,259 | +121.5% |
| Suppliers | 440/4 | €18,322 | €40,581 | +€22,259 | +121.5% |
| Taxes, remuneration and social security | 45 | €46,122 | €18,929 | -€27,193 | -59.0% |
| Taxes | 450/3 | €40,889 | €16,731 | -€24,158 | -59.1% |
| Remuneration and social security | 454/9 | €5,233 | €2,198 | -€3,035 | -58.0% |
| Other amounts payable | 47/48 | €85,576 | €90,143 | +€4,567 | +5.3% |
| Accrued charges and deferred income | 492/3 | €291 | €300 | +€9 | +3.2% |
| Remuneration, social security and pensions | 62 | €100,369 | €131,573 | +€31,204 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,019 | €68,475 | +€29,457 | +75.5% |
| Other operating charges | 640/8 | €3,326 | €3,295 | -€31 | -0.9% |
| Gross operating margin | 9900 | €363,240 | €382,466 | +€19,226 | +5.3% |
| Operating profit (loss) | 9901 | €220,526 | €179,122 | -€41,404 | -18.8% |
| Financial income | 75/76B | €2,507 | €668 | -€1,838 | -73.3% |
| Recurring financial income | 75 | €2,507 | €668 | -€1,838 | -73.3% |
| Financial charges | 65/66B | €95,352 | €113,418 | +€18,066 | +18.9% |
| Recurring financial charges | 65 | €95,352 | €113,418 | +€18,066 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | €127,681 | €66,373 | -€61,308 | -48.0% |
| Income taxes | 67/77 | €31,793 | €12,748 | -€19,045 | -59.9% |
| Profit (loss) for the period | 9904 | €95,888 | €53,625 | -€42,263 | -44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €95,888 | €53,625 | -€42,263 | -44.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.