B.D. DEVELOPMENT: 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.D. DEVELOPMENT
Largest movements
- Stocks and contracts -€74,654
down €74,654 (-50.0%), from €149,307 to €74,653
- Tangible fixed assets +€63,388
up €63,388 (+253.3%), from €25,029 to €88,416
- Cash +€31,336
up €31,336 (+40.7%), from €77,012 to €108,349
mainly Stocks and contracts (+€74,654) and Debts after one year (+€29,314)
- Debts after one year +€29,314
new in 2025: €29,314
- Other debts -€13,978
down €13,978 (-7.3%), from €192,633 to €178,654
- Profit (loss) carried forward +€8,284
up €8,284 (+69.9%), from €11,859 to €20,142
- Trade debts -€4,643
down €4,643 (-76.0%), from €6,106 to €1,463
- Depreciation -€6,654
down €6,654 (-47.8%), from €13,931 to €7,276
- Gross operating margin +€3,793
up €3,793 (+18.2%), from €20,869 to €24,662
- Taxes +€3,089
up €3,089 (+309.8%), from €997 to €4,086
- Other operating charges -€1,505
down €1,505 (-36.3%), from €4,146 to €2,641
- Financial charges +€655
up €655 (+38.1%), from €1,721 to €2,376
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 | €324,393 | €345,244 | +€20,851 | +6.4% |
| Fixed assets | 21/28 | €25,029 | €88,416 | +€63,388 | +253.3% |
| Tangible fixed assets | 22/27 | €25,029 | €88,416 | +€63,388 | +253.3% |
| Furniture and vehicles | 24 | €25,029 | €88,416 | +€63,388 | +253.3% |
| Current assets | 29/58 | €299,365 | €256,828 | -€42,537 | -14.2% |
| Stocks and contracts in progress | 3 | €149,307 | €74,653 | -€74,654 | -50.0% |
| Stocks | 30/36 | €149,307 | €74,653 | -€74,654 | -50.0% |
| Amounts receivable within one year | 40/41 | €67,156 | €67,356 | +€200 | +0.3% |
| Trade receivables | 40 | €54,160 | €61,375 | +€7,216 | +13.3% |
| Other amounts receivable | 41 | €12,997 | €5,981 | -€7,016 | -54.0% |
| Cash at bank and in hand | 54/58 | €77,012 | €108,349 | +€31,336 | +40.7% |
| Deferred charges and accrued income | 490/1 | €5,889 | €6,469 | +€580 | +9.8% |
| Total equity and liabilities | 10/49 | €324,393 | €345,244 | +€20,851 | +6.4% |
| Equity | 10/15 | €116,119 | €124,402 | +€8,284 | +7.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €91,860 | €91,860 | = | 0.0% |
| Distributable reserves | 133 | €91,860 | €91,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,859 | €20,142 | +€8,284 | +69.9% |
| Amounts payable | 17/49 | €208,275 | €220,842 | +€12,567 | +6.0% |
| Amounts payable after more than one year | 17 | - | €29,314 | +€29,314 | |
| Financial debts | 170/4 | - | €29,314 | +€29,314 | |
| Amounts payable within one year | 42/48 | €208,275 | €191,528 | -€16,747 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €7,598 | €7,594 | -€4 | -0.1% |
| Trade debts | 44 | €6,106 | €1,463 | -€4,643 | -76.0% |
| Suppliers | 440/4 | €6,106 | €1,463 | -€4,643 | -76.0% |
| Taxes, remuneration and social security | 45 | €1,938 | €3,816 | +€1,878 | +96.9% |
| Taxes | 450/3 | €1,938 | €3,816 | +€1,878 | +96.9% |
| Other amounts payable | 47/48 | €192,633 | €178,654 | -€13,978 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,931 | €7,276 | -€6,654 | -47.8% |
| Other operating charges | 640/8 | €4,146 | €2,641 | -€1,505 | -36.3% |
| Gross operating margin | 9900 | €20,869 | €24,662 | +€3,793 | +18.2% |
| Operating profit (loss) | 9901 | €2,792 | €14,744 | +€11,952 | +428.1% |
| Financial income | 75/76B | €0 | €2 | +€1 | +350.0% |
| Recurring financial income | 75 | €0 | €2 | +€1 | +350.0% |
| Financial charges | 65/66B | €1,721 | €2,376 | +€655 | +38.1% |
| Recurring financial charges | 65 | €1,721 | €2,376 | +€655 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | €1,071 | €12,370 | +€11,299 | +1054.6% |
| Income taxes | 67/77 | €997 | €4,086 | +€3,089 | +309.8% |
| Profit (loss) for the period | 9904 | €74 | €8,284 | +€8,210 | +11076.0% |
| Profit (loss) for the period to be appropriated | 9905 | €74 | €8,284 | +€8,210 | +11076.0% |
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 12 October 2026 via checked.be.