BPFD: 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.
BPFD
Largest movements
- Current investments -€4.9m
no longer reported in 2025 (was €4.9m)
- Receivables within one year +€3.5m
up €3.5m (+576.8%), from €614,182 to €4.2m
- Financial fixed assets -€1.6m
down €1.6m (-20.8%), from €7.7m to €6.1m
- Profit (loss) carried forward -€1.5m
down €1.5m (-113.7%), from -€1.3m to -€2.8m
- Debts after one year -€1.4m
down €1.4m (-9.5%), from €14.7m to €13.3m
- Financial charges +€1.5m
up €1.5m (+1735.6%), from €87,223 to €1.6m
of which Non-recurring financial charges: +€1.5m
- Gross operating margin +€6,956
up €6,956 (+24.1%), from -€28,894 to -€21,937
- Other operating charges -€5,291
down €5,291 (-93.0%), from €5,691 to €400
- Financial income -€1,197
down €1,197 (-0.8%), from €157,597 to €156,399
- Taxes +€690
no longer reported in 2025 (was -€690)
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 | €15,623,498 | €12,734,478 | -€2.9m | -18.5% |
| Fixed assets | 21/28 | €7,680,002 | €6,080,000 | -€1.6m | -20.8% |
| Financial fixed assets | 28 | €7,680,002 | €6,080,000 | -€1.6m | -20.8% |
| Current assets | 29/58 | €7,943,496 | €6,654,478 | -€1.3m | -16.2% |
| Amounts receivable after more than one year | 29 | €2,182,500 | €2,192,500 | +€10,000 | +0.5% |
| Other amounts receivable | 291 | €2,182,500 | €2,192,500 | +€10,000 | +0.5% |
| Amounts receivable within one year | 40/41 | €614,182 | €4,156,549 | +€3.5m | +576.8% |
| Other amounts receivable | 41 | €614,182 | €4,156,549 | +€3.5m | +576.8% |
| Current investments | 50/53 | €4,900,000 | - | -€4.9m | |
| Cash at bank and in hand | 54/58 | €246,813 | €305,428 | +€58,615 | +23.7% |
| Total equity and liabilities | 10/49 | €15,623,498 | €12,734,478 | -€2.9m | -18.5% |
| Equity | 10/15 | €909,967 | -€557,042 | -€1.5m | |
| Contributions | 10/11 | €2,200,000 | €2,200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,290,033 | -€2,757,042 | -€1.5m | -113.7% |
| Amounts payable | 17/49 | €14,713,531 | €13,291,520 | -€1.4m | -9.7% |
| Amounts payable after more than one year | 17 | €14,662,124 | €13,276,520 | -€1.4m | -9.5% |
| Financial debts | 170/4 | €14,662,124 | €13,276,520 | -€1.4m | -9.5% |
| Amounts payable within one year | 42/48 | €45,197 | €15,000 | -€30,197 | -66.8% |
| Trade debts | 44 | €1,000 | €1,000 | = | 0.0% |
| Suppliers | 440/4 | €1,000 | €1,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €14,000 | +€14,000 | |
| Remuneration and social security | 454/9 | - | €14,000 | +€14,000 | |
| Other amounts payable | 47/48 | €44,197 | - | -€44,197 | |
| Accrued charges and deferred income | 492/3 | €6,210 | - | -€6,210 | |
| Other operating charges | 640/8 | €5,691 | €400 | -€5,291 | -93.0% |
| Gross operating margin | 9900 | -€28,894 | -€21,937 | +€6,956 | +24.1% |
| Operating profit (loss) | 9901 | -€34,585 | -€22,337 | +€12,248 | +35.4% |
| Financial income | 75/76B | €157,597 | €156,399 | -€1,197 | -0.8% |
| Recurring financial income | 75 | €157,597 | €156,399 | -€1,197 | -0.8% |
| Financial charges | 65/66B | €87,223 | €1,601,071 | +€1.5m | +1735.6% |
| Recurring financial charges | 65 | €1,823 | €138 | -€1,685 | -92.4% |
| Non-recurring financial charges | 66B | €85,400 | €1,600,933 | +€1.5m | +1774.6% |
| Profit (loss) for the period before taxes | 9903 | €35,789 | -€1,467,009 | -€1.5m | |
| Income taxes | 67/77 | -€690 | - | +€690 | |
| Profit (loss) for the period | 9904 | €36,479 | -€1,467,009 | -€1.5m | |
| Profit (loss) for the period to be appropriated | 9905 | €36,479 | -€1,467,009 | -€1.5m |
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.