BPM & C: what changed
Two fiscal 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.
BPM & C
Largest movements
- Tangible fixed assets +€167,392
up €167,392 (+10.8%), from €1.5m to €1.7m
of which Land and buildings: +€175,246
- Cash -€37,571
down €37,571 (-43.1%), from €87,223 to €49,652
mainly Investment in fixed assets (net) (-€256,454) and Contributions, distributions and other (-€146,500)
- Current portion of long-term debt +€128,741
up €128,741 (+125.4%), from €102,667 to €231,407
- Tax, wage and social debts +€66,585
up €66,585 (+131.8%), from €50,507 to €117,091
- Debts after one year -€62,212
down €62,212 (-10.1%), from €613,594 to €551,381
- Other debts +€22,224
up €22,224 (+162.3%), from €13,697 to €35,921
- Gross operating margin +€143,003
up €143,003 (+43.4%), from €329,414 to €472,417
- Other operating charges +€73,921
up €73,921 (+127.2%), from €58,131 to €132,052
- Taxes +€21,135
up €21,135 (+37.4%), from €56,580 to €77,715
- Depreciation +€7,613
up €7,613 (+9.3%), from €81,449 to €89,062
- Financial charges +€4,889
up €4,889 (+14.0%), from €35,047 to €39,936
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 | €1,789,329 | €1,934,458 | +€145,129 | +8.1% |
| Fixed assets | 21/28 | €1,546,582 | €1,713,974 | +€167,392 | +10.8% |
| Tangible fixed assets | 22/27 | €1,546,582 | €1,713,974 | +€167,392 | +10.8% |
| Land and buildings | 22 | €1,425,954 | €1,601,201 | +€175,246 | +12.3% |
| Plant, machinery and equipment | 23 | €8,744 | €6,649 | -€2,094 | -24.0% |
| Furniture and vehicles | 24 | €11,222 | €15,372 | +€4,150 | +37.0% |
| Other tangible fixed assets | 26 | €100,663 | €90,752 | -€9,910 | -9.8% |
| Current assets | 29/58 | €242,747 | €220,484 | -€22,263 | -9.2% |
| Amounts receivable after more than one year | 29 | €110,000 | €110,000 | = | 0.0% |
| Other amounts receivable | 291 | €110,000 | €110,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,209 | €56,659 | +€14,450 | +34.2% |
| Trade receivables | 40 | €42,209 | €56,659 | +€14,450 | +34.2% |
| Cash at bank and in hand | 54/58 | €87,223 | €49,652 | -€37,571 | -43.1% |
| Deferred charges and accrued income | 490/1 | €3,314 | €4,172 | +€858 | +25.9% |
| Total equity and liabilities | 10/49 | €1,789,329 | €1,934,458 | +€145,129 | +8.1% |
| Equity | 10/15 | €942,882 | €931,858 | -€11,024 | -1.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €790,511 | €779,337 | -€11,174 | -1.4% |
| Tax-exempt reserves | 132 | €40,281 | €38,107 | -€2,174 | -5.4% |
| Distributable reserves | 133 | €750,230 | €741,230 | -€9,000 | -1.2% |
| Profit (loss) carried forward | 14 | €139,971 | €140,120 | +€150 | +0.1% |
| Provisions and deferred taxes | 16 | €33,427 | €32,702 | -€725 | -2.2% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €20,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €20,000 | €20,000 | = | 0.0% |
| Deferred taxes | 168 | €13,427 | €12,702 | -€725 | -5.4% |
| Amounts payable | 17/49 | €813,020 | €969,898 | +€156,878 | +19.3% |
| Amounts payable after more than one year | 17 | €613,594 | €551,381 | -€62,212 | -10.1% |
| Financial debts | 170/4 | €613,594 | €551,381 | -€62,212 | -10.1% |
| Amounts payable within one year | 42/48 | €199,426 | €418,517 | +€219,091 | +109.9% |
| Current portion of amounts payable after more than one year | 42 | €102,667 | €231,407 | +€128,741 | +125.4% |
| Trade debts | 44 | €32,556 | €34,097 | +€1,541 | +4.7% |
| Suppliers | 440/4 | €32,556 | €34,097 | +€1,541 | +4.7% |
| Taxes, remuneration and social security | 45 | €50,507 | €117,091 | +€66,585 | +131.8% |
| Taxes | 450/3 | €50,507 | €117,091 | +€66,585 | +131.8% |
| Other amounts payable | 47/48 | €13,697 | €35,921 | +€22,224 | +162.3% |
| Non-recurring operating income | 76A | €14,520 | - | -€14,520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,449 | €89,062 | +€7,613 | +9.3% |
| Other operating charges | 640/8 | €58,131 | €132,052 | +€73,921 | +127.2% |
| Gross operating margin | 9900 | €329,414 | €472,417 | +€143,003 | +43.4% |
| Operating profit (loss) | 9901 | €189,835 | €251,302 | +€61,468 | +32.4% |
| Financial income | 75/76B | €1,135 | €1,100 | -€35 | -3.1% |
| Recurring financial income | 75 | €1,135 | €1,100 | -€35 | -3.1% |
| Financial charges | 65/66B | €35,047 | €39,936 | +€4,889 | +14.0% |
| Recurring financial charges | 65 | €35,047 | €39,936 | +€4,889 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €155,923 | €212,466 | +€56,543 | +36.3% |
| Transfer from deferred taxes | 780 | €725 | €725 | = | 0.0% |
| Income taxes | 67/77 | €56,580 | €77,715 | +€21,135 | +37.4% |
| Profit (loss) for the period | 9904 | €100,067 | €135,476 | +€35,408 | +35.4% |
| Transfer from tax-exempt reserves | 789 | €2,174 | €2,174 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €102,241 | €137,650 | +€35,408 | +34.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.