BCED: what changed
Two fiscal 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.
BCED
Largest movements
- Current investments -€35,000
down €35,000 (-100.0%), from €35,000 to €0
- Tangible fixed assets -€6,262
down €6,262 (-27.3%), from €22,924 to €16,662
of which Furniture and vehicles: -€3,895
- Receivables within one year +€5,863
up €5,863 (+12.7%), from €46,287 to €52,150
of which Trade receivables: +€3,565
- Profit (loss) carried forward -€23,568
down €23,568 (-23.5%), from €100,403 to €76,835
- Other debts -€8,124
down €8,124 (-26.8%), from €30,334 to €22,210
- Tax, wage and social debts -€2,769
down €2,769 (-33.9%), from €8,173 to €5,403
- Gross operating margin +€8,779
up €8,779 (+17.5%), from €50,111 to €58,890
- Financial income +€8,728
up €8,728 (+674.5%), from €1,294 to €10,021
- Taxes +€1,651
up €1,651 (+20.5%), from €8,051 to €9,702
- Depreciation +€749
up €749 (+7.7%), from €9,701 to €10,450
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.
Cash bridge derived
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 | €161,166 | €126,613 | -€34,553 | -21.4% |
| Fixed assets | 21/28 | €23,431 | €17,169 | -€6,262 | -26.7% |
| Tangible fixed assets | 22/27 | €22,924 | €16,662 | -€6,262 | -27.3% |
| Plant, machinery and equipment | 23 | €4,360 | €1,994 | -€2,366 | -54.3% |
| Furniture and vehicles | 24 | €18,564 | €14,668 | -€3,895 | -21.0% |
| Financial fixed assets | 28 | €507 | €507 | = | 0.0% |
| Current assets | 29/58 | €137,735 | €109,443 | -€28,292 | -20.5% |
| Amounts receivable within one year | 40/41 | €46,287 | €52,150 | +€5,863 | +12.7% |
| Trade receivables | 40 | €46,287 | €49,852 | +€3,565 | +7.7% |
| Other amounts receivable | 41 | €0 | €2,298 | +€2,298 | |
| Current investments | 50/53 | €35,000 | €0 | -€35,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €53,447 | €54,767 | +€1,320 | +2.5% |
| Deferred charges and accrued income | 490/1 | €3,001 | €2,526 | -€474 | -15.8% |
| Total equity and liabilities | 10/49 | €161,166 | €126,613 | -€34,553 | -21.4% |
| Equity | 10/15 | €119,003 | €95,435 | -€23,568 | -19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,403 | €76,835 | -€23,568 | -23.5% |
| Amounts payable | 17/49 | €42,163 | €31,178 | -€10,985 | -26.1% |
| Amounts payable within one year | 42/48 | €40,036 | €29,163 | -€10,873 | -27.2% |
| Financial debts | 43 | €110 | €0 | -€110 | -100.0% |
| Other loans | 439 | €110 | €0 | -€110 | -100.0% |
| Trade debts | 44 | €1,420 | €1,550 | +€130 | +9.2% |
| Suppliers | 440/4 | €1,420 | €1,550 | +€130 | +9.2% |
| Taxes, remuneration and social security | 45 | €8,173 | €5,403 | -€2,769 | -33.9% |
| Taxes | 450/3 | €8,173 | €5,403 | -€2,769 | -33.9% |
| Other amounts payable | 47/48 | €30,334 | €22,210 | -€8,124 | -26.8% |
| Accrued charges and deferred income | 492/3 | €2,127 | €2,015 | -€112 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,701 | €10,450 | +€749 | +7.7% |
| Other operating charges | 640/8 | €515 | €531 | +€16 | +3.2% |
| Gross operating margin | 9900 | €50,111 | €58,890 | +€8,779 | +17.5% |
| Operating profit (loss) | 9901 | €39,895 | €47,909 | +€8,013 | +20.1% |
| Financial income | 75/76B | €1,294 | €10,021 | +€8,728 | +674.5% |
| Recurring financial income | 75 | €1,294 | €10,021 | +€8,728 | +674.5% |
| Financial charges | 65/66B | €2,385 | €2,147 | -€239 | -10.0% |
| Recurring financial charges | 65 | €2,385 | €2,147 | -€239 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €38,804 | €55,783 | +€16,979 | +43.8% |
| Income taxes | 67/77 | €8,051 | €9,702 | +€1,651 | +20.5% |
| Profit (loss) for the period | 9904 | €30,753 | €46,082 | +€15,328 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,753 | €46,082 | +€15,328 | +49.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.