B L D: 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 L D
Largest movements
- Receivables within one year +€11,341
up €11,341 (+6.8%), from €166,409 to €177,750
of which Other amounts receivable: +€16,891
- Cash +€4,822
up €4,822 (+47.6%), from €10,124 to €14,946
mainly Net result for the year (+€13,675) and Trade debts (+€4,660)
- Reserves +€13,000
up €13,000 (+8.0%), from €163,053 to €176,053
of which Distributable reserves: +€13,000
- Trade debts +€4,660
up €4,660 (+24.4%), from €19,081 to €23,741
- Tax, wage and social debts -€2,778
down €2,778 (-30.4%), from €9,127 to €6,349
of which Taxes: -€5,378
- Gross operating margin +€7,577
up €7,577 (+128%), from €5,929 to €13,506
- Taxes +€1,805
up €1,805 (+49.6%), from €3,642 to €5,447
- Other operating charges +€1,037
up €1,037 (+140%), from €741 to €1,778
- Financial income +€470
up €470 (+6.6%), from €7,134 to €7,605
- Depreciation -€180
no longer reported in 2025 (was €180)
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 | €197,561 | €213,117 | +€15,557 | +7.9% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €197,561 | €213,117 | +€15,557 | +7.9% |
| Amounts receivable within one year | 40/41 | €166,409 | €177,750 | +€11,341 | +6.8% |
| Trade receivables | 40 | €22,901 | €17,350 | -€5,550 | -24.2% |
| Other amounts receivable | 41 | €143,509 | €160,400 | +€16,891 | +11.8% |
| Cash at bank and in hand | 54/58 | €10,124 | €14,946 | +€4,822 | +47.6% |
| Deferred charges and accrued income | 490/1 | €21,028 | €20,421 | -€607 | -2.9% |
| Total equity and liabilities | 10/49 | €197,561 | €213,117 | +€15,557 | +7.9% |
| Equity | 10/15 | €169,352 | €183,027 | +€13,675 | +8.1% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €163,053 | €176,053 | +€13,000 | +8.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €161,193 | €174,193 | +€13,000 | +8.1% |
| Profit (loss) carried forward | 14 | €94 | €769 | +€675 | +718% |
| Amounts payable | 17/49 | €28,208 | €30,090 | +€1,882 | +6.7% |
| Amounts payable within one year | 42/48 | €28,208 | €30,090 | +€1,882 | +6.7% |
| Trade debts | 44 | €19,081 | €23,741 | +€4,660 | +24.4% |
| Suppliers | 440/4 | €19,081 | €23,741 | +€4,660 | +24.4% |
| Taxes, remuneration and social security | 45 | €9,127 | €6,349 | -€2,778 | -30.4% |
| Taxes | 450/3 | €9,127 | €3,749 | -€5,378 | -58.9% |
| Remuneration and social security | 454/9 | - | €2,600 | +€2,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180 | - | -€180 | |
| Other operating charges | 640/8 | €741 | €1,778 | +€1,037 | +140% |
| Gross operating margin | 9900 | €5,929 | €13,506 | +€7,577 | +128% |
| Operating profit (loss) | 9901 | €5,008 | €11,728 | +€6,720 | +134% |
| Financial income | 75/76B | €7,134 | €7,605 | +€470 | +6.6% |
| Recurring financial income | 75 | €7,134 | €7,605 | +€470 | +6.6% |
| Financial charges | 65/66B | €161 | €211 | +€50 | +31.2% |
| Recurring financial charges | 65 | €161 | €211 | +€50 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | €11,982 | €19,122 | +€7,140 | +59.6% |
| Income taxes | 67/77 | €3,642 | €5,447 | +€1,805 | +49.6% |
| Profit (loss) for the period | 9904 | €8,340 | €13,675 | +€5,335 | +64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,340 | €13,675 | +€5,335 | +64.0% |
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 20 October 2026 via checked.be.