B.D.W. HOLDING: what changed
What changed
B.D.W. HOLDING
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€3.2m
2024 · €2.1m+€1.0m
Equity
€10.0m
2024 · €6.9m+€3.2m
Cash
€559,344
2024 · €613,740-€54,396
Balance sheet total
€39.7m
2024 · €37.5m+€2.2m
Largest movements
Assets
- Financial fixed assets +€3.7m
up €3.7m (+18.1%), from €20.7m to €24.4m
- Receivables within one year -€2.5m
down €2.5m (-21.2%), from €11.8m to €9.3m
of which Other amounts receivable: -€1.8m
- Receivables after one year +€1.1m
up €1.1m (+121%), from €908,958 to €2.0m
of which Other amounts receivable: +€1.1m
Equity and liabilities
- Reserves +€3.2m
up €3.2m (+52.3%), from €6.1m to €9.2m
of which Distributable reserves: +€3.0m
- Debts after one year -€1.2m
down €1.2m (-17.0%), from €6.9m to €5.7m
- Other debts -€706,554
down €706,554 (-3.2%), from €21.8m to €21.1m
- Short-term financial debts +€558,775
up €558,775 (+119%), from €468,000 to €1.0m
of which Other loans: +€650,000
Income statement
- Gross operating margin +€2.0m
up €2.0m (+94.1%), from €2.2m to €4.2m
- Taxes +€458,724
up €458,724 (+237%), from €193,832 to €652,557
- Financial income -€252,063
down €252,063 (-14.2%), from €1.8m to €1.5m
- Financial charges +€244,454
up €244,454 (+41.2%), from €593,337 to €837,791
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2.1m
Gross operating margin
+€2.0m
Staff costs
+€495
Depreciation
-€1,312
Write-downs
-€4,950
Other operating charges
-€25,999
Other operating items
-€1,814
Financial income
-€252,063
Financial charges
-€244,454
Taxes
-€458,724
Result 2025
€3.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€4.3m
Investment
-€3.8m
Financing
-€595,434
Cash 2024
€613,740
From operations (derived)
+€4.3m
Net result for the year
+€3.2m
Depreciation
+€152,623
Receivables after one year
-€1.1m
Receivables within one year
+€2.5m
Deferred charges and accrued income
-€56,880
Trade debts
+€28,300
Tax, wage and social debts
+€223,983
Other debts
-€706,554
Accrued charges and deferred income
+€79,849
Investment (derived)
-€3.8m
Investment in fixed assets (net)
-€3.8m
Financing
-€595,434
Debts after one year
-€1.2m
Current portion of long-term debt
+€11,155
Short-term financial debts
+€558,775
Contributions, distributions and other
-€1,700
Cash 2025
€559,344
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,488,740 | €39,696,073 | +€2.2m | +5.9% |
| Fixed assets | 21/28 | €24,162,371 | €27,760,231 | +€3.6m | +14.9% |
| Tangible fixed assets | 22/27 | €3,487,597 | €3,352,372 | -€135,225 | -3.9% |
| Land and buildings | 22 | €3,349,985 | €3,254,182 | -€95,803 | -2.9% |
| Plant, machinery and equipment | 23 | €6,826 | €4,887 | -€1,939 | -28.4% |
| Furniture and vehicles | 24 | €130,786 | €93,303 | -€37,483 | -28.7% |
| Financial fixed assets | 28 | €20,674,774 | €24,407,859 | +€3.7m | +18.1% |
| Current assets | 29/58 | €13,326,369 | €11,935,842 | -€1.4m | -10.4% |
| Amounts receivable after more than one year | 29 | €908,958 | €2,012,390 | +€1.1m | +121% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €908,958 | €2,012,390 | +€1.1m | +121% |
| Amounts receivable within one year | 40/41 | €11,785,114 | €9,288,672 | -€2.5m | -21.2% |
| Trade receivables | 40 | €1,016,381 | €309,000 | -€707,380 | -69.6% |
| Other amounts receivable | 41 | €10,768,734 | €8,979,671 | -€1.8m | -16.6% |
| Cash at bank and in hand | 54/58 | €613,740 | €559,344 | -€54,396 | -8.9% |
| Deferred charges and accrued income | 490/1 | €18,556 | €75,437 | +€56,880 | +307% |
| Total equity and liabilities | 10/49 | €37,488,740 | €39,696,073 | +€2.2m | +5.9% |
| Equity | 10/15 | €6,872,236 | €10,047,726 | +€3.2m | +46.2% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €6,072,236 | €9,247,726 | +€3.2m | +52.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €315,750 | €526,250 | +€210,500 | +66.7% |
| Distributable reserves | 133 | €5,756,486 | €8,721,476 | +€3.0m | +51.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €30,616,504 | €29,648,347 | -€968,156 | -3.2% |
| Amounts payable after more than one year | 17 | €6,856,800 | €5,693,135 | -€1.2m | -17.0% |
| Financial debts | 170/4 | €6,856,800 | €5,693,135 | -€1.2m | -17.0% |
| Amounts payable within one year | 42/48 | €23,736,419 | €23,852,078 | +€115,659 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €1,152,509 | €1,163,664 | +€11,155 | +1.0% |
| Financial debts | 43 | €468,000 | €1,026,775 | +€558,775 | +119% |
| Credit institutions | 430/8 | €468,000 | €376,775 | -€91,225 | -19.5% |
| Other loans | 439 | - | €650,000 | +€650,000 | |
| Trade debts | 44 | €98,613 | €126,913 | +€28,300 | +28.7% |
| Suppliers | 440/4 | €98,613 | €126,913 | +€28,300 | +28.7% |
| Taxes, remuneration and social security | 45 | €208,972 | €432,954 | +€223,983 | +107% |
| Taxes | 450/3 | €78,832 | €302,591 | +€223,759 | +284% |
| Remuneration and social security | 454/9 | €130,140 | €130,364 | +€224 | +0.2% |
| Other amounts payable | 47/48 | €21,808,325 | €21,101,772 | -€706,554 | -3.2% |
| Accrued charges and deferred income | 492/3 | €23,285 | €103,134 | +€79,849 | +343% |
| Non-recurring operating income | 76A | €0 | €6,975 | +€6,975 | |
| Remuneration, social security and pensions | 62 | €848,448 | €847,953 | -€495 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,311 | €152,623 | +€1,312 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,950 | +€4,950 | |
| Other operating charges | 640/8 | €15,250 | €41,250 | +€25,999 | +170% |
| Non-recurring operating charges | 66A | - | €1,814 | +€1,814 | |
| Gross operating margin | 9900 | €2,162,732 | €4,197,273 | +€2.0m | +94.1% |
| Operating profit (loss) | 9901 | €1,147,722 | €3,148,683 | +€2.0m | +174% |
| Financial income | 75/76B | €1,770,917 | €1,518,854 | -€252,063 | -14.2% |
| Recurring financial income | 75 | €1,770,917 | €1,518,854 | -€252,063 | -14.2% |
| Financial charges | 65/66B | €593,337 | €837,791 | +€244,454 | +41.2% |
| Recurring financial charges | 65 | €593,337 | €837,791 | +€244,454 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €2,325,303 | €3,829,747 | +€1.5m | +64.7% |
| Income taxes | 67/77 | €193,832 | €652,557 | +€458,724 | +237% |
| Profit (loss) for the period | 9904 | €2,131,471 | €3,177,190 | +€1.0m | +49.1% |
| Transfer from tax-exempt reserves | 789 | €71,200 | €0 | -€71,200 | -100% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €210,500 | +€105,250 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €2,097,421 | €2,966,690 | +€869,269 | +41.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.