B.K.D.M.: what changed
B.K.D.M.
Largest movements
- Cash +€29,706
up €29,706 (+11.0%), from €269,799 to €299,506
mainly Other debts (+€21,622) and Receivables within one year (+€19,840)
- Receivables within one year -€19,840
down €19,840 (-54.8%), from €36,192 to €16,352
of which Other amounts receivable: -€21,144
- Tangible fixed assets -€4,981
down €4,981 (-33.1%), from €15,026 to €10,045
of which Furniture and vehicles: -€4,043
- Other debts +€21,622
up €21,622 (+80.8%), from €26,762 to €48,384
- Reserves -€17,412
down €17,412 (-6.6%), from €262,677 to €245,265
of which Tax-exempt reserves: -€46,526
- Provisions -€11,631
no longer reported in 2025 (was €11,631)
- Tax, wage and social debts +€6,604
up €6,604 (+121%), from €5,475 to €12,079
- Gross operating margin -€17,318
down €17,318 (-30.7%), from €56,344 to €39,026
- Taxes +€10,639
up €10,639 (+63.5%), from €16,767 to €27,405
- Depreciation +€2,737
up €2,737 (+122%), from €2,243 to €4,981
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €329,087 | €331,414 | +€2,327 | +0.7% |
| Fixed assets | 21/28 | €16,063 | €11,083 | -€4,981 | -31.0% |
| Tangible fixed assets | 22/27 | €15,026 | €10,045 | -€4,981 | -33.1% |
| Plant, machinery and equipment | 23 | €1,835 | €1,233 | -€602 | -32.8% |
| Furniture and vehicles | 24 | €11,100 | €7,057 | -€4,043 | -36.4% |
| Other tangible fixed assets | 26 | €2,091 | €1,755 | -€336 | -16.1% |
| Financial fixed assets | 28 | €1,037 | €1,037 | = | 0.0% |
| Current assets | 29/58 | €313,024 | €320,331 | +€7,307 | +2.3% |
| Amounts receivable within one year | 40/41 | €36,192 | €16,352 | -€19,840 | -54.8% |
| Trade receivables | 40 | €13,118 | €14,422 | +€1,305 | +9.9% |
| Other amounts receivable | 41 | €23,074 | €1,930 | -€21,144 | -91.6% |
| Cash at bank and in hand | 54/58 | €269,799 | €299,506 | +€29,706 | +11.0% |
| Deferred charges and accrued income | 490/1 | €7,033 | €4,473 | -€2,559 | -36.4% |
| Total equity and liabilities | 10/49 | €329,087 | €331,414 | +€2,327 | +0.7% |
| Equity | 10/15 | €281,232 | €263,820 | -€17,412 | -6.2% |
| Contributions | 10/11 | €18,555 | €18,555 | = | 0.0% |
| Reserves | 13 | €262,677 | €245,265 | -€17,412 | -6.6% |
| Non-distributable reserves | 130/1 | €10,526 | €10,526 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,526 | €10,526 | = | 0.0% |
| Tax-exempt reserves | 132 | €46,526 | - | -€46,526 | |
| Distributable reserves | 133 | €205,625 | €234,739 | +€29,114 | +14.2% |
| Provisions and deferred taxes | 16 | €11,631 | - | -€11,631 | |
| Deferred taxes | 168 | €11,631 | - | -€11,631 | |
| Amounts payable | 17/49 | €36,224 | €67,594 | +€31,370 | +86.6% |
| Amounts payable within one year | 42/48 | €36,224 | €67,594 | +€31,370 | +86.6% |
| Current portion of amounts payable after more than one year | 42 | €3,354 | €3,407 | +€53 | +1.6% |
| Trade debts | 44 | €633 | €3,725 | +€3,092 | +488% |
| Suppliers | 440/4 | €633 | €3,725 | +€3,092 | +488% |
| Taxes, remuneration and social security | 45 | €5,475 | €12,079 | +€6,604 | +121% |
| Taxes | 450/3 | €5,475 | €12,079 | +€6,604 | +121% |
| Other amounts payable | 47/48 | €26,762 | €48,384 | +€21,622 | +80.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,243 | €4,981 | +€2,737 | +122% |
| Non-recurring operating charges | 66A | - | €2,518 | +€2,518 | |
| Gross operating margin | 9900 | €56,344 | €39,026 | -€17,318 | -30.7% |
| Operating profit (loss) | 9901 | €54,100 | €31,527 | -€22,573 | -41.7% |
| Financial income | 75/76B | €2,185 | €1,899 | -€287 | -13.1% |
| Recurring financial income | 75 | €2,185 | €1,899 | -€287 | -13.1% |
| Financial charges | 65/66B | €1,455 | €1,057 | -€399 | -27.4% |
| Recurring financial charges | 65 | €1,455 | €1,057 | -€399 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €54,830 | €32,369 | -€22,462 | -41.0% |
| Transfer from deferred taxes | 780 | - | €11,631 | +€11,631 | |
| Income taxes | 67/77 | €16,767 | €27,405 | +€10,639 | +63.5% |
| Profit (loss) for the period | 9904 | €38,064 | €16,595 | -€21,469 | -56.4% |
| Transfer from tax-exempt reserves | 789 | - | €46,526 | +€46,526 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,064 | €63,121 | +€25,057 | +65.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.