B&D PROJECT MANAGEMENT: 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 PROJECT MANAGEMENT
Largest movements
- Cash +€37,246
up €37,246 (+125%), from €29,766 to €67,012
mainly Net result for the year (+€38,530) and Tax, wage and social debts (+€5,010)
- Tangible fixed assets +€7,819
up €7,819 (+677%), from €1,156 to €8,974
of which Other tangible fixed assets: +€6,138
- Receivables within one year -€2,542
down €2,542 (-12.1%), from €20,962 to €18,420
of which Trade receivables: -€6,580
- Profit (loss) carried forward +€38,530
up €38,530 (+131%), from €29,483 to €68,014
- Tax, wage and social debts +€5,010
up €5,010 (+24.5%), from €20,464 to €25,473
- Trade debts -€1,612
down €1,612 (-98.6%), from €1,634 to €22
- Gross operating margin +€44,679
up €44,679 (+155%), from €28,903 to €73,582
- Financial charges +€18,930
up €18,930 (+555%), from €3,408 to €22,338
- Taxes +€5,394
up €5,394 (+91.8%), from €5,877 to €11,271
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 | €52,581 | €94,509 | +€41,928 | +79.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,156 | €8,974 | +€7,819 | +677% |
| Tangible fixed assets | 22/27 | €1,156 | €8,974 | +€7,819 | +677% |
| Furniture and vehicles | 24 | €1,156 | €2,836 | +€1,681 | +145% |
| Other tangible fixed assets | 26 | - | €6,138 | +€6,138 | |
| Current assets | 29/58 | €51,426 | €85,535 | +€34,109 | +66.3% |
| Amounts receivable within one year | 40/41 | €20,962 | €18,420 | -€2,542 | -12.1% |
| Trade receivables | 40 | €20,764 | €14,184 | -€6,580 | -31.7% |
| Other amounts receivable | 41 | €198 | €4,236 | +€4,038 | +2,035% |
| Cash at bank and in hand | 54/58 | €29,766 | €67,012 | +€37,246 | +125% |
| Deferred charges and accrued income | 490/1 | €698 | €103 | -€595 | -85.2% |
| Total equity and liabilities | 10/49 | €52,581 | €94,509 | +€41,928 | +79.7% |
| Equity | 10/15 | €30,483 | €69,014 | +€38,530 | +126% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,483 | €68,014 | +€38,530 | +131% |
| Amounts payable | 17/49 | €22,098 | €25,496 | +€3,398 | +15.4% |
| Amounts payable within one year | 42/48 | €22,098 | €25,496 | +€3,398 | +15.4% |
| Trade debts | 44 | €1,634 | €22 | -€1,612 | -98.6% |
| Suppliers | 440/4 | €1,634 | €22 | -€1,612 | -98.6% |
| Taxes, remuneration and social security | 45 | €20,464 | €25,473 | +€5,010 | +24.5% |
| Taxes | 450/3 | €20,464 | €25,473 | +€5,010 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €458 | €1,061 | +€603 | +132% |
| Other operating charges | 640/8 | €632 | €573 | -€59 | -9.3% |
| Gross operating margin | 9900 | €28,903 | €73,582 | +€44,679 | +155% |
| Operating profit (loss) | 9901 | €27,813 | €71,948 | +€44,135 | +159% |
| Financial income | 75/76B | €60 | €191 | +€131 | +217% |
| Recurring financial income | 75 | €60 | €191 | +€131 | +217% |
| Financial charges | 65/66B | €3,408 | €22,338 | +€18,930 | +555% |
| Recurring financial charges | 65 | €3,408 | €22,338 | +€18,930 | +555% |
| Profit (loss) for the period before taxes | 9903 | €24,465 | €49,801 | +€25,336 | +104% |
| Income taxes | 67/77 | €5,877 | €11,271 | +€5,394 | +91.8% |
| Profit (loss) for the period | 9904 | €18,589 | €38,530 | +€19,942 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €18,589 | €38,530 | +€19,942 | +107% |
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 20 October 2026 via checked.be.