BNX: 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.
BNX
Largest movements
- Cash -€51,618
down €51,618 (-22.8%), from €226,371 to €174,753
mainly Other debts (-€55,719) and Investment in fixed assets (net) (-€45,389)
- Receivables within one year +€40,281
up €40,281 (+213%), from €18,932 to €59,213
of which Trade receivables: +€43,310
- Tangible fixed assets -€23,534
down €23,534 (-11.5%), from €204,479 to €180,945
of which Leasing and similar rights: -€31,890
- Stocks and contracts -€5,111
down €5,111 (-38.9%), from €13,138 to €8,027
- Reserves +€86,151
up €86,151 (+52.0%), from €165,582 to €251,733
- Other debts -€55,719
down €55,719 (-47.2%), from €117,949 to €62,229
- Current portion of long-term debt -€32,179
down €32,179 (-43.4%), from €74,200 to €42,022
- Tax, wage and social debts +€28,950
up €28,950 (+328%), from €8,829 to €37,779
of which Remuneration and social security: +€25,418
- Debts after one year -€23,171
down €23,171 (-86.9%), from €26,668 to €3,497
- Staff costs +€54,388
up €54,388 (+19.9%), from €273,900 to €328,288
- Gross operating margin +€52,482
up €52,482 (+12.2%), from €428,665 to €481,147
- Depreciation -€32,413
down €32,413 (-32.0%), from €101,335 to €68,923
- Taxes -€17,814
down €17,814 (-91.6%), from €19,453 to €1,639
- Financial charges +€5,458
up €5,458 (+269%), from €2,028 to €7,486
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 | €462,919 | €422,937 | -€39,982 | -8.6% |
| Fixed assets | 21/28 | €204,479 | €180,945 | -€23,534 | -11.5% |
| Tangible fixed assets | 22/27 | €204,479 | €180,945 | -€23,534 | -11.5% |
| Land and buildings | 22 | €4,350 | €3,860 | -€489 | -11.3% |
| Plant, machinery and equipment | 23 | €996 | €677 | -€319 | -32.0% |
| Furniture and vehicles | 24 | €167,242 | €176,407 | +€9,165 | +5.5% |
| Leasing and similar rights | 25 | €31,890 | €0 | -€31,890 | -100% |
| Current assets | 29/58 | €258,440 | €241,993 | -€16,448 | -6.4% |
| Stocks and contracts in progress | 3 | €13,138 | €8,027 | -€5,111 | -38.9% |
| Contracts in progress | 37 | €13,138 | €8,027 | -€5,111 | -38.9% |
| Amounts receivable within one year | 40/41 | €18,932 | €59,213 | +€40,281 | +213% |
| Trade receivables | 40 | €15,550 | €58,860 | +€43,310 | +279% |
| Other amounts receivable | 41 | €3,382 | €352 | -€3,029 | -89.6% |
| Cash at bank and in hand | 54/58 | €226,371 | €174,753 | -€51,618 | -22.8% |
| Total equity and liabilities | 10/49 | €462,919 | €422,937 | -€39,982 | -8.6% |
| Equity | 10/15 | €204,557 | €270,333 | +€65,775 | +32.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €165,582 | €251,733 | +€86,151 | +52.0% |
| Distributable reserves | 133 | €165,582 | €251,733 | +€86,151 | +52.0% |
| Profit (loss) carried forward | 14 | €20,375 | €0 | -€20,375 | -100% |
| Provisions and deferred taxes | 16 | €20,575 | - | -€20,575 | |
| Provisions for liabilities and charges | 160/5 | €20,575 | - | -€20,575 | |
| Other liabilities and charges | 164/5 | €20,575 | - | -€20,575 | |
| Amounts payable | 17/49 | €237,786 | €152,605 | -€85,182 | -35.8% |
| Amounts payable after more than one year | 17 | €26,668 | €3,497 | -€23,171 | -86.9% |
| Financial debts | 170/4 | €26,668 | €3,497 | -€23,171 | -86.9% |
| Amounts payable within one year | 42/48 | €211,118 | €149,108 | -€62,010 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €74,200 | €42,022 | -€32,179 | -43.4% |
| Trade debts | 44 | €10,140 | €7,078 | -€3,063 | -30.2% |
| Suppliers | 440/4 | €10,140 | €7,078 | -€3,063 | -30.2% |
| Taxes, remuneration and social security | 45 | €8,829 | €37,779 | +€28,950 | +328% |
| Taxes | 450/3 | €8,829 | €12,361 | +€3,532 | +40.0% |
| Remuneration and social security | 454/9 | €0 | €25,418 | +€25,418 | |
| Other amounts payable | 47/48 | €117,949 | €62,229 | -€55,719 | -47.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €273,900 | €328,288 | +€54,388 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,335 | €68,923 | -€32,413 | -32.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €6,877 | €4,842 | -€2,034 | -29.6% |
| Other operating charges | 640/8 | €4,695 | €4,193 | -€502 | -10.7% |
| Gross operating margin | 9900 | €428,665 | €481,147 | +€52,482 | +12.2% |
| Operating profit (loss) | 9901 | €41,857 | €74,900 | +€33,043 | +78.9% |
| Financial charges | 65/66B | €2,028 | €7,486 | +€5,458 | +269% |
| Recurring financial charges | 65 | €2,028 | €7,486 | +€5,458 | +269% |
| Profit (loss) for the period before taxes | 9903 | €39,829 | €67,414 | +€27,586 | +69.3% |
| Income taxes | 67/77 | €19,453 | €1,639 | -€17,814 | -91.6% |
| Profit (loss) for the period | 9904 | €20,375 | €65,775 | +€45,400 | +223% |
| Profit (loss) for the period to be appropriated | 9905 | €20,375 | €65,775 | +€45,400 | +223% |
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 15 October 2026 via checked.be.