BBXIA — what changed in the latest 10-K
A section-by-section comparison of BBXIA's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-K · 2025-03-24 vs the prior 10-K · 2024-03-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | +57 | −100 | ~19 | 55 |
| Risk factors | Text added/removed | +58 | −59 | ~17 | 53 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 5 |
| MD&A | Text added/removed | +140 | −139 | ~31 | 17 |
| Market risk (Item 7A) | Text added/removed | 0 | 0 | ~7 | 3 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Business
Text added vs the prior filing · source: 10-K · 2025-03-24
As of September 30, 2024, the Company rebranded its real estate division under the Altman name. In the rebranding, BBX Capital Real Estate changed its name to Altman, its multifamily apartment development division changed its name from The Altman Companies, LLC to Altman Living, LLC ("Altman Living"…
Recent headwinds and challenges have resulted in significant economic uncertainty and operating losses at the Company's subsidiaries. These challenges include (i) volatility and turmoil in the economy and markets, (ii) the deterioration of the economy generally, (iii) a forecast of a possible recess…
BBX Capital’s principal holdings are Altman, BBX Sweet Holdings and Renin.
Altman is primarily engaged in the acquisition, development, and sale of multifamily rental apartment communities, warehouse and logistics facilities, and single-family master-planned housing communities primarily located in Florida. As part of its real estate development activities, Altman invests …
Current economic and market conditions, including, among other things, (i) elevated interest rates, (ii) inflationary conditions, (iii) volatility and turmoil in the economy and markets, (iv) announced new and additional tariffs on products sourced from international markets, (v) uncertainty of cred…
Text removed vs the prior filing · source: 10-K · 2024-03-15
The Company’s goal is to build long-term shareholder value. Since the Company’s assets may not generate income on a regular or predictable basis, the Company’s objective is long-term growth as measured by increases in book value and intrinsic value over time. The Company regularly reviews the perfor…
BBX Capital Real Estate: BBX Capital Real Estate is engaged in the acquisition, development, construction, ownership, financing, and management of real estate and investments in real estate joint ventures, including investments in multifamily rental apartment communities, single-family master-planne…
BBX Sweet Holdings: BBX Sweet Holdings is engaged in the ownership and management of operating businesses in the confectionery industry, including (i) IT’SUGAR, a specialty candy retailer whose products include bulk candy, candy in giant packaging and licensed and novelty items and which operates in…
Renin: Renin is engaged in the design, manufacture, and distribution of sliding doors, door systems and hardware, and home décor products and operates through its headquarters in Canada and manufacturing and distribution facilities in the United States and Canada. In addition to its own manufacturin…
BBX Capital Real Estate is engaged in the acquisition, development, construction, ownership, financing, and management of real estate and investments in real estate joint ventures, including investments in multifamily rental apartment communities, single-family master-planned for sale housing commun…
Risk factors
Text added vs the prior filing · source: 10-K · 2025-03-24
Current economic and market conditions, including, but not limited to, elevated interest rates, new and expanded tariffs, a decline in consumer confidence and spending, inflationary conditions that have significantly increased the costs of operating our businesses (including raw materials, products,…
Current economic and market conditions are highly uncertain and volatile as a result of various factors, including elevated interest rates, new and expanded tariffs, a decline in consumer confidence and spending, inflationary conditions that have significantly increased the costs of operating our bu…
The Company and Altman in particular has experienced significant increases in commodity and labor prices and insurance costs, and such increases may be further impacted by the potential implementation of additional tariffs on building materials sourced from international markets. Furthermore, the in…
Similarly, inflationary pressures and ongoing disruptions in global supply chains have had and are expected to continue to have an adverse impact on IT’SUGAR, which has experienced decreased consumer demand, lower traffic in its retail locations, and significant increases in the cost of inventory an…
Global supply chain disruptions and increases in commodity prices also contributed and are expected to continue to contribute to a significant increase in Renin’s costs related to shipping and raw materials as well as delays in its supply chains. These will: (i) negatively impact Renin’s product cos…
Text removed vs the prior filing · source: 10-K · 2024-03-15
Current inflationary and economic trends, including increases in interest rates, the costs of labor, freight, shipping and materials and widespread supply chain disruptions, has and could continue to adversely impact gross margins of the Company’s operating businesses.
The Federal Reserve has sought to address inflation through monetary policy, including the wind-down of quantitative easing and by increasing the Federal Funds rate. The Russian invasion of Ukraine and the related embargoes against Russia have worsened supply chain issues with the potential for the …
BBXRE has experienced a significant increase in commodity prices, labor and insurance costs, which has resulted in higher development and construction costs, and disruptions in the supply chain for certain commodities and equipment have resulted in ongoing supply shortages of building materials, equ…
Similarly, as a result of inflationary pressures and ongoing disruptions in global supply chains, IT’SUGAR experienced significant increases in the cost of inventory and freight, as well as delays in its supply chain that were impacting its ability to maintain historical inventory levels at its reta…
Global supply chain disruptions and increases in commodity prices have also contributed to a significant increase in Renin’s costs related to shipping and raw materials, as well as delays in its supply chains, which have: (i) negatively impacted Renin’s product costs and gross margin, (ii) increased…
MD&A
Text added vs the prior filing · source: 10-K · 2025-03-24
As of September 30, 2024, the Company rebranded its real estate division, BBX Capital Real Estate, LLC (“BBX Capital Real Estate” or “BBXRE”), under the Altman name. Its multifamily apartment development division changed its name from The Altman Companies, LLC to Altman Living, LLC ("Altman Living")…
As of December 31, 2024, the Company had total consolidated assets of approximately $603.0 million and shareholders’ equity of approximately $245.6 million. Net loss income attributable to shareholders for the years ended December 31, 2024 and 2023 was approximately $(63.9) million and $(20.8) milli…
Recent headwinds and challenges have resulted in significant economic uncertainty and operating losses at the Company's subsidiaries. These challenges include (i) volatility and turmoil in the economy and markets, (ii) the deterioration of the economy generally, (iii) a forecast of a possible recess…
As described above, the Company and the industries in which it operates have been adversely impacted by economic uncertainty and turmoil in the U.S. and global economies, including the impact of (i) decreased consumer discretionary income and demand, (ii) continued elevated interest rates, (iii) inf…
These economic conditions have had a material adverse impact on the Company's financial condition and results of operations and may continue to do so for the foreseeable future. In particular, as a result of inflationary pressures, consumers have appeared to continue to shift purchases away from dis…
Text removed vs the prior filing · source: 10-K · 2024-03-15
As of December 31, 2023, the Company had total consolidated assets of approximately $674.2 million and shareholders’ equity of approximately $311.5 million. Net (loss) income attributable to shareholders for the years ended December 31, 2023 and 2022 was approximately $(20.8) million and $28.0 milli…
The Company and the industries in which it operates have been impacted by economic trends in the U.S. and global economies, including (i) decreased consumer demand, (ii) disruptions in global supply chains, (iii) a general labor shortage and increases in wages, (iv) increased economic uncertainty, (…
Current inflationary and economic trends have and may continue to adversely impact the Company's results of operations. The Federal Reserve has sought to address inflation through monetary policy, including the wind-down of quantitative easing and by increasing the Federal Funds rate, and the impact…
In light of these conditions, we have taken steps to increase the prices of our products; however, such increases may not be accepted by our customers, may not adequately offset the increases in our costs, and/or could negatively impact customer retention and demand. There is no assurance that the C…
BBXRE has experienced a significant increase in commodity and labor prices, which has resulted in higher development and construction costs, and disruptions in the supply chain for certain commodities and equipment have resulted in ongoing supply shortages of building materials, equipment, and appli…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice