BD CONSULT: 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.
BD CONSULT
Largest movements
- Tangible fixed assets +€243,079
up €243,079 (+23.9%), from €1.0m to €1.3m
of which Land and buildings: +€216,817
- Receivables within one year -€66,176
down €66,176 (-47.6%), from €138,912 to €72,736
of which Trade receivables: -€56,965
- Cash -€48,627
down €48,627 (-43.2%), from €112,621 to €63,994
mainly Investment in fixed assets (net) (-€329,547) and Other debts (-€72,237)
- Debts after one year +€221,675
up €221,675 (+48.4%), from €457,683 to €679,357
- Other debts -€72,237
down €72,237 (-46.4%), from €155,732 to €83,496
- Reserves -€35,097
down €35,097 (-6.3%), from €561,506 to €526,409
of which Tax-exempt reserves: -€35,097
- Profit (loss) carried forward +€21,050
up €21,050 (+25.1%), from €83,901 to €104,951
- Trade debts +€18,239
up €18,239 (+401.1%), from €4,547 to €22,786
- Gross operating margin -€32,247
down €32,247 (-25.1%), from €128,338 to €96,092
- Taxes -€10,295
down €10,295 (-55.1%), from €18,679 to €8,384
- Financial charges +€4,231
up €4,231 (+44.8%), from €9,439 to €13,669
- Depreciation +€2,873
up €2,873 (+3.4%), from €83,595 to €86,468
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 | €1,561,284 | €1,690,188 | +€128,903 | +8.3% |
| Fixed assets | 21/28 | €1,016,113 | €1,259,192 | +€243,079 | +23.9% |
| Tangible fixed assets | 22/27 | €1,015,952 | €1,259,031 | +€243,079 | +23.9% |
| Land and buildings | 22 | €959,766 | €1,176,583 | +€216,817 | +22.6% |
| Plant, machinery and equipment | 23 | €1,693 | €951 | -€743 | -43.9% |
| Furniture and vehicles | 24 | €54,493 | €48,357 | -€6,135 | -11.3% |
| Other tangible fixed assets | 26 | - | €33,140 | +€33,140 | |
| Financial fixed assets | 28 | €161 | €161 | = | 0.0% |
| Current assets | 29/58 | €545,171 | €430,996 | -€114,175 | -20.9% |
| Amounts receivable after more than one year | 29 | €240,000 | €240,000 | = | 0.0% |
| Trade receivables | 290 | €240,000 | €240,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €138,912 | €72,736 | -€66,176 | -47.6% |
| Trade receivables | 40 | €76,988 | €20,023 | -€56,965 | -74.0% |
| Other amounts receivable | 41 | €61,924 | €52,712 | -€9,211 | -14.9% |
| Cash at bank and in hand | 54/58 | €112,621 | €63,994 | -€48,627 | -43.2% |
| Deferred charges and accrued income | 490/1 | €53,638 | €54,266 | +€628 | +1.2% |
| Total equity and liabilities | 10/49 | €1,561,284 | €1,690,188 | +€128,903 | +8.3% |
| Equity | 10/15 | €663,999 | €649,952 | -€14,047 | -2.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | - | -€18,592 | |
| Share premium | 1100/10 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €561,506 | €526,409 | -€35,097 | -6.3% |
| Tax-exempt reserves | 132 | €508,193 | €473,096 | -€35,097 | -6.9% |
| Distributable reserves | 133 | €53,313 | €53,313 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,901 | €104,951 | +€21,050 | +25.1% |
| Provisions and deferred taxes | 16 | €169,398 | €157,699 | -€11,699 | -6.9% |
| Deferred taxes | 168 | €169,398 | €157,699 | -€11,699 | -6.9% |
| Amounts payable | 17/49 | €727,887 | €882,537 | +€154,649 | +21.2% |
| Amounts payable after more than one year | 17 | €457,683 | €679,357 | +€221,675 | +48.4% |
| Financial debts | 170/4 | €457,683 | €679,357 | +€221,675 | +48.4% |
| Amounts payable within one year | 42/48 | €269,226 | €203,179 | -€66,046 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €77,200 | €69,325 | -€7,875 | -10.2% |
| Trade debts | 44 | €4,547 | €22,786 | +€18,239 | +401.1% |
| Suppliers | 440/4 | €4,547 | €22,786 | +€18,239 | +401.1% |
| Advances received on contracts in progress | 46 | €3,268 | €0 | -€3,268 | -100.0% |
| Taxes, remuneration and social security | 45 | €28,478 | €27,572 | -€906 | -3.2% |
| Taxes | 450/3 | €28,478 | €27,572 | -€906 | -3.2% |
| Other amounts payable | 47/48 | €155,732 | €83,496 | -€72,237 | -46.4% |
| Accrued charges and deferred income | 492/3 | €979 | €0 | -€979 | -100.0% |
| Non-recurring operating income | 76A | €65 | €0 | -€65 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,595 | €86,468 | +€2,873 | +3.4% |
| Other operating charges | 640/8 | €10,558 | €9,792 | -€766 | -7.3% |
| Gross operating margin | 9900 | €128,338 | €96,092 | -€32,247 | -25.1% |
| Operating profit (loss) | 9901 | €34,185 | -€169 | -€34,354 | |
| Financial income | 75/76B | €11,061 | €10,142 | -€918 | -8.3% |
| Recurring financial income | 75 | €11,061 | €10,142 | -€918 | -8.3% |
| Financial charges | 65/66B | €9,439 | €13,669 | +€4,231 | +44.8% |
| Recurring financial charges | 65 | €9,439 | €13,669 | +€4,231 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | €35,807 | -€3,696 | -€39,503 | |
| Transfer from deferred taxes | 780 | €10,052 | €11,699 | +€1,647 | +16.4% |
| Income taxes | 67/77 | €18,679 | €8,384 | -€10,295 | -55.1% |
| Profit (loss) for the period | 9904 | €27,180 | -€381 | -€27,561 | |
| Transfer from tax-exempt reserves | 789 | €30,157 | €35,097 | +€4,941 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,336 | €34,716 | -€22,620 | -39.5% |
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 30 September 2026 via checked.be.