B.C.D.: 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.
B.C.D.
Largest movements
- Deferred charges and accrued income +€258,091
up €258,091 (+153.1%), from €168,609 to €426,700
- Cash -€168,590
down €168,590 (-65.6%), from €256,852 to €88,261
mainly Deferred charges and accrued income (-€258,091) and Other debts (-€145,033)
- Intangible fixed assets -€122,649
down €122,649 (-43.6%), from €281,212 to €158,563
- Receivables within one year -€108,900
down €108,900 (-90.0%), from €121,000 to €12,100
- Other debts -€145,033
down €145,033 (-64.0%), from €226,467 to €81,435
- Staff costs +€64,877
up €64,877 (+92.3%), from €70,291 to €135,167
- Gross operating margin +€45,351
up €45,351 (+19.3%), from €234,986 to €280,337
- Taxes -€6,307
down €6,307 (-51.5%), from €12,252 to €5,945
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 | €1,889,670 | €1,747,621 | -€142,048 | -7.5% |
| Fixed assets | 21/28 | €1,343,209 | €1,220,560 | -€122,649 | -9.1% |
| Intangible fixed assets | 21 | €281,212 | €158,563 | -€122,649 | -43.6% |
| Financial fixed assets | 28 | €1,061,997 | €1,061,997 | = | 0.0% |
| Current assets | 29/58 | €546,460 | €527,061 | -€19,399 | -3.5% |
| Amounts receivable within one year | 40/41 | €121,000 | €12,100 | -€108,900 | -90.0% |
| Trade receivables | 40 | €121,000 | €12,100 | -€108,900 | -90.0% |
| Cash at bank and in hand | 54/58 | €256,852 | €88,261 | -€168,590 | -65.6% |
| Deferred charges and accrued income | 490/1 | €168,609 | €426,700 | +€258,091 | +153.1% |
| Total equity and liabilities | 10/49 | €1,889,670 | €1,747,621 | -€142,048 | -7.5% |
| Equity | 10/15 | €1,638,768 | €1,655,257 | +€16,489 | +1.0% |
| Contributions | 10/11 | €922,493 | €922,493 | = | 0.0% |
| Capital | 10 | €922,493 | €922,493 | = | 0.0% |
| Issued capital | 100 | €922,493 | €922,493 | = | 0.0% |
| Reserves | 13 | €4,500 | €4,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Legal reserve | 130 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €711,775 | €728,264 | +€16,489 | +2.3% |
| Amounts payable | 17/49 | €250,902 | €92,364 | -€158,538 | -63.2% |
| Amounts payable within one year | 42/48 | €250,902 | €92,364 | -€158,538 | -63.2% |
| Trade debts | 44 | €3,192 | - | -€3,192 | |
| Suppliers | 440/4 | €3,192 | - | -€3,192 | |
| Taxes, remuneration and social security | 45 | €21,243 | €10,929 | -€10,313 | -48.6% |
| Taxes | 450/3 | €11,174 | €5,943 | -€5,230 | -46.8% |
| Remuneration and social security | 454/9 | €10,069 | €4,986 | -€5,083 | -50.5% |
| Other amounts payable | 47/48 | €226,467 | €81,435 | -€145,033 | -64.0% |
| Remuneration, social security and pensions | 62 | €70,291 | €135,167 | +€64,877 | +92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,649 | €122,649 | = | 0.0% |
| Other operating charges | 640/8 | €1,019 | €62 | -€957 | -93.9% |
| Gross operating margin | 9900 | €234,986 | €280,337 | +€45,351 | +19.3% |
| Operating profit (loss) | 9901 | €41,028 | €22,458 | -€18,569 | -45.3% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €24 | €30 | +€6 | +25.9% |
| Recurring financial charges | 65 | €24 | €30 | +€6 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €41,004 | €22,434 | -€18,570 | -45.3% |
| Income taxes | 67/77 | €12,252 | €5,945 | -€6,307 | -51.5% |
| Profit (loss) for the period | 9904 | €28,752 | €16,489 | -€12,263 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,752 | €16,489 | -€12,263 | -42.7% |
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 4 October 2026 via checked.be.