Pictures not appearing - sometimes

I am using the x5 version with Word 2003 SP3 and I have been having issues with some of my pictures not appearing when I compile. In this project I make a .hlp file and I don't remember if I have had this issue with the few .chm projects I have. If I use the Active Test button, my picture appears, but when I make the final hlp file I end up with the {bmc filename.bmp} link appearing instead of the picture.

I have played around with inserting another graphic and moving lines around and there is something really strange in there. If I insert another graphic, the new one shows up as the {bmc} and the old one actually shows the picture. If I remove the new picture, I go back to showing the {bmc} for the old one again.

In other cases I had to move the picture to a particular line and if there were any blank lines around it I would get the {bmc} again. I only work on help projects a few times as year, so I do not remember exactly what I did to get the picture to appear the last time this happened. I just remember getting it to appear by putting the picture right next to a certain paragraph and I left it that way - even though it wasn't the best looking page that way.

Has anyone had anything similar to this happen before? It is really hard to figure out what is going on and finding and fixing the missing pictures is a big project. Any ideas would be greatly appreciated!