B.C.A.D.: 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.
B.C.A.D.
Largest movements
- Tangible fixed assets +€63,044
up €63,044 (+56.8%), from €111,000 to €174,044
of which Land and buildings: +€50,250
- Cash -€21,925
down €21,925 (-38.7%), from €56,657 to €34,732
mainly Investment in fixed assets (net) (-€75,298)
- Receivables within one year -€6,283
no longer reported in 2025 (was €6,283)
- Other debts +€29,332
up €29,332 (+8,767%), from €335 to €29,667
- Profit (loss) carried forward +€5,410
up €5,410 (+51.1%), from €10,585 to €15,995
- Gross operating margin +€19,439
up €19,439, from -€996 to €18,444
- Depreciation +€12,255
new in 2025: €12,255
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 | €173,941 | €208,776 | +€34,836 | +20.0% |
| Fixed assets | 21/28 | €111,000 | €174,044 | +€63,044 | +56.8% |
| Tangible fixed assets | 22/27 | €111,000 | €174,044 | +€63,044 | +56.8% |
| Land and buildings | 22 | €111,000 | €161,250 | +€50,250 | +45.3% |
| Plant, machinery and equipment | 23 | - | €12,794 | +€12,794 | |
| Current assets | 29/58 | €62,941 | €34,732 | -€28,208 | -44.8% |
| Amounts receivable within one year | 40/41 | €6,283 | - | -€6,283 | |
| Other amounts receivable | 41 | €6,283 | - | -€6,283 | |
| Cash at bank and in hand | 54/58 | €56,657 | €34,732 | -€21,925 | -38.7% |
| Total equity and liabilities | 10/49 | €173,941 | €208,776 | +€34,836 | +20.0% |
| Equity | 10/15 | €171,585 | €176,995 | +€5,410 | +3.2% |
| Contributions | 10/11 | €158,000 | €158,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,585 | €15,995 | +€5,410 | +51.1% |
| Amounts payable | 17/49 | €2,355 | €31,781 | +€29,426 | +1,249% |
| Amounts payable within one year | 42/48 | €2,355 | €31,781 | +€29,426 | +1,249% |
| Trade debts | 44 | €2,021 | €2,114 | +€94 | +4.6% |
| Suppliers | 440/4 | €2,021 | €2,114 | +€94 | +4.6% |
| Other amounts payable | 47/48 | €335 | €29,667 | +€29,332 | +8,767% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €12,255 | +€12,255 | |
| Other operating charges | 640/8 | €405 | €520 | +€114 | +28.2% |
| Gross operating margin | 9900 | -€996 | €18,444 | +€19,439 | |
| Operating profit (loss) | 9901 | -€1,401 | €5,670 | +€7,070 | |
| Financial charges | 65/66B | €318 | €260 | -€58 | -18.3% |
| Recurring financial charges | 65 | €318 | €260 | -€58 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,719 | €5,410 | +€7,129 | |
| Profit (loss) for the period | 9904 | -€1,719 | €5,410 | +€7,129 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,719 | €5,410 | +€7,129 |
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 27 October 2026 via checked.be.