B.D.L.H.: 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.L.H.
Largest movements
- Receivables within one year +€655,490
up €655,490 (+544%), from €120,425 to €775,915
of which Other amounts receivable: +€655,075
- Stocks and contracts +€72,677
up €72,677 (+6.9%), from €1.1m to €1.1m
- Short-term financial debts +€734,623
up €734,623 (+56.2%), from €1.3m to €2.0m
- Profit (loss) carried forward -€24,652
down €24,652 (-5.5%), from -€450,242 to -€474,894
- Financial income +€6,361
new in 2025: €6,361
- Financial charges -€5,439
down €5,439 (-74.8%), from €7,268 to €1,829
- Taxes +€2,877
no longer reported in 2025 (was -€2,877)
- Gross operating margin -€1,899
down €1,899 (-68.2%), from -€2,785 to -€4,684
- Other operating charges -€189
down €189 (-0.8%), from €24,689 to €24,500
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 | €1,177,019 | €1,906,096 | +€729,077 | +61.9% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €1,177,019 | €1,906,096 | +€729,077 | +61.9% |
| Stocks and contracts in progress | 3 | €1,051,743 | €1,124,420 | +€72,677 | +6.9% |
| Stocks | 30/36 | €1,051,743 | €1,124,420 | +€72,677 | +6.9% |
| Amounts receivable within one year | 40/41 | €120,425 | €775,915 | +€655,490 | +544% |
| Trade receivables | 40 | €0 | €415 | +€415 | |
| Other amounts receivable | 41 | €120,425 | €775,500 | +€655,075 | +544% |
| Cash at bank and in hand | 54/58 | €3,444 | €4,307 | +€863 | +25.1% |
| Deferred charges and accrued income | 490/1 | €1,408 | €1,454 | +€46 | +3.3% |
| Total equity and liabilities | 10/49 | €1,177,019 | €1,906,096 | +€729,077 | +61.9% |
| Equity | 10/15 | -€200,242 | -€224,894 | -€24,652 | -12.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€450,242 | -€474,894 | -€24,652 | -5.5% |
| Amounts payable | 17/49 | €1,377,261 | €2,130,990 | +€753,729 | +54.7% |
| Amounts payable after more than one year | 17 | €0 | €0 | = | |
| Financial debts | 170/4 | €0 | €0 | = | |
| Amounts payable within one year | 42/48 | €1,376,743 | €2,122,304 | +€745,561 | +54.2% |
| Financial debts | 43 | €1,307,060 | €2,041,682 | +€734,623 | +56.2% |
| Credit institutions | 430/8 | €1,307,060 | €2,041,682 | +€734,623 | +56.2% |
| Trade debts | 44 | €69,683 | €80,621 | +€10,938 | +15.7% |
| Suppliers | 440/4 | €69,683 | €80,621 | +€10,938 | +15.7% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €519 | €8,686 | +€8,168 | +1,575% |
| Other operating charges | 640/8 | €24,689 | €24,500 | -€189 | -0.8% |
| Gross operating margin | 9900 | -€2,785 | -€4,684 | -€1,899 | -68.2% |
| Operating profit (loss) | 9901 | -€27,474 | -€29,184 | -€1,709 | -6.2% |
| Financial income | 75/76B | - | €6,361 | +€6,361 | |
| Recurring financial income | 75 | - | €6,361 | +€6,361 | |
| Financial charges | 65/66B | €7,268 | €1,829 | -€5,439 | -74.8% |
| Recurring financial charges | 65 | €7,268 | €1,829 | -€5,439 | -74.8% |
| Profit (loss) for the period before taxes | 9903 | -€34,742 | -€24,652 | +€10,090 | +29.0% |
| Income taxes | 67/77 | -€2,877 | - | +€2,877 | |
| Profit (loss) for the period | 9904 | -€31,866 | -€24,652 | +€7,214 | +22.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,866 | -€24,652 | +€7,214 | +22.6% |
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 30 October 2026 via checked.be.