BMZ Accord: what changed
BMZ Accord
Largest movements
- Tangible fixed assets -€10,329
down €10,329 (-36.4%), from €28,362 to €18,033
- Deferred charges and accrued income +€3,000
new in 2025: €3,000
- Receivables within one year +€1,817
up €1,817 (+21.6%), from €8,394 to €10,211
of which Trade receivables: +€4,926
- Cash -€1,143
down €1,143 (-11.5%), from €9,909 to €8,767
mainly Current portion of long-term debt (-€8,993) and Deferred charges and accrued income (-€3,000)
- Current portion of long-term debt -€8,993
down €8,993 (-38.3%), from €23,501 to €14,508
- Trade debts +€1,430
up €1,430 (+960%), from €149 to €1,579
- Profit (loss) carried forward +€860
up €860 (+5.1%), from €16,873 to €17,733
- Gross operating margin -€15,166
down €15,166 (-56.0%), from €27,103 to €11,937
- Depreciation +€7,704
up €7,704 (+294%), from €2,625 to €10,329
- Taxes -€5,355
no longer reported in 2025 (was €5,355)
- Other operating charges -€1,366
down €1,366 (-67.0%), from €2,039 to €672
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €48,378 | €41,724 | -€6,655 | -13.8% |
| Fixed assets | 21/28 | €30,075 | €19,746 | -€10,329 | -34.3% |
| Tangible fixed assets | 22/27 | €28,362 | €18,033 | -€10,329 | -36.4% |
| Furniture and vehicles | 24 | €28,362 | €18,033 | -€10,329 | -36.4% |
| Financial fixed assets | 28 | €1,714 | €1,714 | = | 0.0% |
| Current assets | 29/58 | €18,303 | €21,977 | +€3,674 | +20.1% |
| Amounts receivable within one year | 40/41 | €8,394 | €10,211 | +€1,817 | +21.6% |
| Trade receivables | 40 | - | €4,926 | +€4,926 | |
| Other amounts receivable | 41 | €8,394 | €5,284 | -€3,109 | -37.0% |
| Cash at bank and in hand | 54/58 | €9,909 | €8,767 | -€1,143 | -11.5% |
| Deferred charges and accrued income | 490/1 | - | €3,000 | +€3,000 | |
| Total equity and liabilities | 10/49 | €48,378 | €41,724 | -€6,655 | -13.8% |
| Equity | 10/15 | €19,373 | €20,233 | +€860 | +4.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,873 | €17,733 | +€860 | +5.1% |
| Amounts payable | 17/49 | €29,005 | €21,491 | -€7,514 | -25.9% |
| Amounts payable within one year | 42/48 | €29,005 | €21,491 | -€7,514 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | €23,501 | €14,508 | -€8,993 | -38.3% |
| Trade debts | 44 | €149 | €1,579 | +€1,430 | +960% |
| Suppliers | 440/4 | €149 | €1,579 | +€1,430 | +960% |
| Taxes, remuneration and social security | 45 | €5,355 | €5,404 | +€49 | +0.9% |
| Taxes | 450/3 | €5,355 | €5,404 | +€49 | +0.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,625 | €10,329 | +€7,704 | +294% |
| Other operating charges | 640/8 | €2,039 | €672 | -€1,366 | -67.0% |
| Gross operating margin | 9900 | €27,103 | €11,937 | -€15,166 | -56.0% |
| Operating profit (loss) | 9901 | €22,440 | €936 | -€21,504 | -95.8% |
| Financial charges | 65/66B | €212 | €76 | -€136 | -64.0% |
| Recurring financial charges | 65 | €212 | €76 | -€136 | -64.0% |
| Profit (loss) for the period before taxes | 9903 | €22,228 | €860 | -€21,368 | -96.1% |
| Income taxes | 67/77 | €5,355 | - | -€5,355 | |
| Profit (loss) for the period | 9904 | €16,873 | €860 | -€16,013 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,873 | €860 | -€16,013 | -94.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.