BD-EM: 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.
BD-EM
Largest movements
- Receivables within one year -€33,634
down €33,634 (-44.8%), from €75,152 to €41,518
of which Other amounts receivable: -€19,075
- Cash -€17,674
down €17,674 (-16.3%), from €108,201 to €90,527
mainly Contributions, distributions and other (-€53,475) and Trade debts (-€26,609)
- Tangible fixed assets -€14,798
down €14,798 (-10.5%), from €140,997 to €126,200
of which Furniture and vehicles: -€16,694
- Reserves -€36,800
down €36,800 (-19.3%), from €191,162 to €154,362
- Trade debts -€26,609
down €26,609 (-94.2%), from €28,259 to €1,649
- Debts after one year -€11,195
down €11,195 (-49.5%), from €22,593 to €11,398
- Other debts +€7,331
up €7,331 (+17.5%), from €41,972 to €49,303
- Gross operating margin -€65,033
down €65,033 (-62.6%), from €103,891 to €38,858
- Taxes -€18,985
down €18,985 (-78.5%), from €24,180 to €5,195
- Financial charges -€1,061
down €1,061 (-59.3%), from €1,790 to €729
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 | €328,493 | €260,989 | -€67,503 | -20.5% |
| Fixed assets | 21/28 | €140,997 | €126,200 | -€14,798 | -10.5% |
| Tangible fixed assets | 22/27 | €140,997 | €126,200 | -€14,798 | -10.5% |
| Land and buildings | 22 | €111,423 | €113,623 | +€2,200 | +2.0% |
| Plant, machinery and equipment | 23 | €1,647 | €1,343 | -€304 | -18.5% |
| Furniture and vehicles | 24 | €27,928 | €11,234 | -€16,694 | -59.8% |
| Current assets | 29/58 | €187,495 | €134,790 | -€52,706 | -28.1% |
| Amounts receivable within one year | 40/41 | €75,152 | €41,518 | -€33,634 | -44.8% |
| Trade receivables | 40 | €25,152 | €10,593 | -€14,559 | -57.9% |
| Other amounts receivable | 41 | €50,000 | €30,925 | -€19,075 | -38.2% |
| Cash at bank and in hand | 54/58 | €108,201 | €90,527 | -€17,674 | -16.3% |
| Deferred charges and accrued income | 490/1 | €4,142 | €2,744 | -€1,398 | -33.8% |
| Total equity and liabilities | 10/49 | €328,493 | €260,989 | -€67,503 | -20.5% |
| Equity | 10/15 | €209,762 | €172,962 | -€36,800 | -17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €191,162 | €154,362 | -€36,800 | -19.3% |
| Distributable reserves | 133 | €191,162 | €154,362 | -€36,800 | -19.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €118,730 | €88,027 | -€30,703 | -25.9% |
| Amounts payable after more than one year | 17 | €22,593 | €11,398 | -€11,195 | -49.5% |
| Financial debts | 170/4 | €22,593 | €11,398 | -€11,195 | -49.5% |
| Amounts payable within one year | 42/48 | €95,424 | €76,629 | -€18,795 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €11,075 | €11,195 | +€120 | +1.1% |
| Trade debts | 44 | €28,259 | €1,649 | -€26,609 | -94.2% |
| Suppliers | 440/4 | €28,259 | €1,649 | -€26,609 | -94.2% |
| Taxes, remuneration and social security | 45 | €14,118 | €14,481 | +€363 | +2.6% |
| Taxes | 450/3 | €14,118 | €14,481 | +€363 | +2.6% |
| Other amounts payable | 47/48 | €41,972 | €49,303 | +€7,331 | +17.5% |
| Accrued charges and deferred income | 492/3 | €713 | €0 | -€713 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,249 | €16,298 | +€49 | +0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €74 | €0 | -€74 | -100% |
| Other operating charges | 640/8 | €2,219 | €2,467 | +€248 | +11.2% |
| Gross operating margin | 9900 | €103,891 | €38,858 | -€65,033 | -62.6% |
| Operating profit (loss) | 9901 | €85,349 | €20,093 | -€65,256 | -76.5% |
| Financial income | 75/76B | €3,393 | €2,506 | -€888 | -26.2% |
| Recurring financial income | 75 | €3,393 | €2,506 | -€888 | -26.2% |
| Financial charges | 65/66B | €1,790 | €729 | -€1,061 | -59.3% |
| Recurring financial charges | 65 | €1,790 | €729 | -€1,061 | -59.3% |
| Profit (loss) for the period before taxes | 9903 | €86,953 | €21,870 | -€65,082 | -74.8% |
| Income taxes | 67/77 | €24,180 | €5,195 | -€18,985 | -78.5% |
| Profit (loss) for the period | 9904 | €62,773 | €16,675 | -€46,097 | -73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,773 | €16,675 | -€46,097 | -73.4% |
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 13 October 2026 via checked.be.