B & D CONSTRUCT: 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.
What changed
B & D CONSTRUCT
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€41,865
2024 · €136,204-€94,340
Equity
€2.0m
2024 · €2.0m-€30,635
Cash
€203,878
2024 · €199,089+€4,789
Balance sheet total
€3.7m
2024 · €3.8m-€95,758
Largest movements
Assets
- Receivables after one year +€408,000
new in 2025: €408,000
- Receivables within one year -€396,105
down €396,105 (-76.4%), from €518,331 to €122,225
of which Other amounts receivable: -€396,198
- Tangible fixed assets -€111,899
down €111,899 (-3.8%), from €3.0m to €2.9m
of which Land and buildings: -€111,899
Equity and liabilities
- Debts after one year -€93,646
down €93,646 (-7.1%), from €1.3m to €1.2m
of which Financial debts: -€93,646
- Other debts +€55,668
up €55,668 (+36.9%), from €151,065 to €206,732
Income statement
- Gross operating margin -€100,648
down €100,648 (-36.0%), from €279,868 to €179,220
- Taxes -€3,749
down €3,749 (-90.2%), from €4,155 to €406
- Financial charges -€3,171
down €3,171 (-12.0%), from €26,482 to €23,311
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.
Result 2024
€136,204
Gross operating margin
-€100,648
Depreciation
+€272
Other operating charges
-€1,747
Financial income
+€864
Financial charges
+€3,171
Taxes
+€3,749
Result 2025
€41,865
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.
From operations
+€183,902
Investment
€0
Financing
-€179,114
Cash 2024
€199,089
From operations (derived)
+€183,902
Net result for the year
+€41,865
Depreciation
+€111,899
Receivables after one year
-€408,000
Receivables within one year
+€396,105
Smaller working-capital items
+€681
Provisions
-€7,678
Tax, wage and social debts
-€6,636
Other debts
+€55,668
Financing
-€179,114
Debts after one year
-€93,646
Current portion of long-term debt
-€12,968
Contributions, distributions and other
-€72,500
Cash 2025
€203,878
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,792,601 | €3,696,843 | -€95,758 | -2.5% |
| Fixed assets | 21/28 | €2,973,279 | €2,861,380 | -€111,899 | -3.8% |
| Tangible fixed assets | 22/27 | €2,973,279 | €2,861,380 | -€111,899 | -3.8% |
| Land and buildings | 22 | €2,973,279 | €2,861,380 | -€111,899 | -3.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €819,322 | €835,463 | +€16,141 | +2.0% |
| Amounts receivable after more than one year | 29 | - | €408,000 | +€408,000 | |
| Other amounts receivable | 291 | - | €408,000 | +€408,000 | |
| Stocks and contracts in progress | 3 | €101,360 | €101,360 | = | 0.0% |
| Stocks | 30/36 | €101,360 | €101,360 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €518,331 | €122,225 | -€396,105 | -76.4% |
| Trade receivables | 40 | €52,654 | €52,747 | +€93 | +0.2% |
| Other amounts receivable | 41 | €465,676 | €69,478 | -€396,198 | -85.1% |
| Cash at bank and in hand | 54/58 | €199,089 | €203,878 | +€4,789 | +2.4% |
| Deferred charges and accrued income | 490/1 | €543 | €0 | -€543 | -100.0% |
| Total equity and liabilities | 10/49 | €3,792,601 | €3,696,843 | -€95,758 | -2.5% |
| Equity | 10/15 | €2,041,858 | €2,011,223 | -€30,635 | -1.5% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,979,358 | €1,948,723 | -€30,635 | -1.5% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €652,279 | €621,567 | -€30,712 | -4.7% |
| Distributable reserves | 133 | €1,320,829 | €1,320,906 | +€76 | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €158,382 | €150,704 | -€7,678 | -4.8% |
| Deferred taxes | 168 | €158,382 | €150,704 | -€7,678 | -4.8% |
| Amounts payable | 17/49 | €1,592,361 | €1,534,916 | -€57,444 | -3.6% |
| Amounts payable after more than one year | 17 | €1,317,364 | €1,223,719 | -€93,646 | -7.1% |
| Financial debts | 170/4 | €1,034,852 | €941,207 | -€93,646 | -9.0% |
| Other amounts payable | 178/9 | €282,512 | €282,512 | = | 0.0% |
| Amounts payable within one year | 42/48 | €274,996 | €310,647 | +€35,651 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €106,614 | €93,646 | -€12,968 | -12.2% |
| Trade debts | 44 | €4,002 | €4,140 | +€138 | +3.4% |
| Suppliers | 440/4 | €4,002 | €4,140 | +€138 | +3.4% |
| Advances received on contracts in progress | 46 | €550 | €0 | -€550 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,766 | €6,130 | -€6,636 | -52.0% |
| Taxes | 450/3 | €12,766 | €6,130 | -€6,636 | -52.0% |
| Other amounts payable | 47/48 | €151,065 | €206,732 | +€55,668 | +36.9% |
| Accrued charges and deferred income | 492/3 | €0 | €550 | +€550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,170 | €111,899 | -€272 | -0.2% |
| Other operating charges | 640/8 | €16,546 | €18,293 | +€1,747 | +10.6% |
| Gross operating margin | 9900 | €279,868 | €179,220 | -€100,648 | -36.0% |
| Operating profit (loss) | 9901 | €151,152 | €49,029 | -€102,123 | -67.6% |
| Financial income | 75/76B | €8,011 | €8,875 | +€864 | +10.8% |
| Recurring financial income | 75 | €8,011 | €8,875 | +€864 | +10.8% |
| Financial charges | 65/66B | €26,482 | €23,311 | -€3,171 | -12.0% |
| Recurring financial charges | 65 | €26,482 | €23,311 | -€3,171 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €132,681 | €34,593 | -€98,089 | -73.9% |
| Transfer from deferred taxes | 780 | €7,678 | €7,678 | = | 0.0% |
| Income taxes | 67/77 | €4,155 | €406 | -€3,749 | -90.2% |
| Profit (loss) for the period | 9904 | €136,204 | €41,865 | -€94,340 | -69.3% |
| Transfer from tax-exempt reserves | 789 | €30,712 | €30,712 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €166,916 | €72,576 | -€94,340 | -56.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.