BD IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€473,321
down €473,321 (-26.5%), from €1.8m to €1.3m
of which Land and buildings: -€497,424
- Receivables within one year +€196,578
up €196,578 (+385%), from €51,000 to €247,578
of which Other amounts receivable: +€223,210
- Cash -€60,166
down €60,166 (-54.1%), from €111,213 to €51,047
mainly Debts after one year (-€307,271) and Receivables within one year (-€196,578)
- Debts after one year -€307,271
down €307,271 (-35.3%), from €870,188 to €562,917
- Reserves +€118,000
up €118,000 (+21.2%), from €555,317 to €673,317
- Short-term financial debts -€109,600
no longer reported in 2025 (was €109,600)
- Staff costs -€70,386
down €70,386 (-70.2%), from €100,213 to €29,827
- Taxes +€53,911
up €53,911 (+245%), from €22,035 to €75,946
- Gross operating margin +€48,746
up €48,746 (+13.3%), from €365,865 to €414,611
- Other operating charges -€24,679
down €24,679 (-34.4%), from €71,817 to €47,138
- Financial income +€16,215
new in 2025: €16,215
of which Financial income: +€16,215
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 | €1,976,125 | €1,638,427 | -€337,698 | -17.1% |
| Fixed assets | 21/28 | €1,804,536 | €1,331,215 | -€473,321 | -26.2% |
| Tangible fixed assets | 22/27 | €1,788,836 | €1,315,515 | -€473,321 | -26.5% |
| Land and buildings | 22 | €1,706,457 | €1,209,033 | -€497,424 | -29.1% |
| Plant, machinery and equipment | 23 | €9,141 | €8,175 | -€966 | -10.6% |
| Furniture and vehicles | 24 | €73,238 | €20,457 | -€52,781 | -72.1% |
| Leasing and similar rights | 25 | - | €77,850 | +€77,850 | |
| Financial fixed assets | 28 | €15,700 | €15,700 | = | 0.0% |
| Current assets | 29/58 | €171,589 | €307,212 | +€135,623 | +79.0% |
| Stocks and contracts in progress | 3 | €4,410 | - | -€4,410 | |
| Stocks | 30/36 | €4,410 | - | -€4,410 | |
| Amounts receivable within one year | 40/41 | €51,000 | €247,578 | +€196,578 | +385% |
| Trade receivables | 40 | €49,866 | €23,234 | -€26,632 | -53.4% |
| Other amounts receivable | 41 | €1,134 | €224,344 | +€223,210 | +19,683% |
| Cash at bank and in hand | 54/58 | €111,213 | €51,047 | -€60,166 | -54.1% |
| Deferred charges and accrued income | 490/1 | €4,966 | €8,587 | +€3,621 | +72.9% |
| Total equity and liabilities | 10/49 | €1,976,125 | €1,638,427 | -€337,698 | -17.1% |
| Equity | 10/15 | €833,472 | €951,707 | +€118,235 | +14.2% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €555,317 | €673,317 | +€118,000 | +21.2% |
| Distributable reserves | 133 | €555,317 | €673,317 | +€118,000 | +21.2% |
| Profit (loss) carried forward | 14 | €218,155 | €218,390 | +€235 | +0.1% |
| Amounts payable | 17/49 | €1,142,653 | €686,720 | -€455,933 | -39.9% |
| Amounts payable after more than one year | 17 | €870,188 | €562,917 | -€307,271 | -35.3% |
| Financial debts | 170/4 | €870,188 | €562,917 | -€307,271 | -35.3% |
| Amounts payable within one year | 42/48 | €255,003 | €119,891 | -€135,112 | -53.0% |
| Current portion of amounts payable after more than one year | 42 | €68,316 | €63,795 | -€4,521 | -6.6% |
| Financial debts | 43 | €109,600 | - | -€109,600 | |
| Credit institutions | 430/8 | €109,600 | - | -€109,600 | |
| Trade debts | 44 | €6,668 | €3,883 | -€2,785 | -41.8% |
| Suppliers | 440/4 | €6,668 | €3,883 | -€2,785 | -41.8% |
| Taxes, remuneration and social security | 45 | €69,219 | €50,289 | -€18,930 | -27.3% |
| Taxes | 450/3 | €53,674 | €40,894 | -€12,780 | -23.8% |
| Remuneration and social security | 454/9 | €15,545 | €9,395 | -€6,150 | -39.6% |
| Other amounts payable | 47/48 | €1,200 | €1,924 | +€724 | +60.3% |
| Accrued charges and deferred income | 492/3 | €17,462 | €3,912 | -€13,550 | -77.6% |
| Non-recurring operating income | 76A | - | €320,613 | +€320,613 | |
| Remuneration, social security and pensions | 62 | €100,213 | €29,827 | -€70,386 | -70.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,423 | €84,937 | -€12,486 | -12.8% |
| Other operating charges | 640/8 | €71,817 | €47,138 | -€24,679 | -34.4% |
| Non-recurring operating charges | 66A | €6,929 | €472 | -€6,457 | -93.2% |
| Gross operating margin | 9900 | €365,865 | €414,611 | +€48,746 | +13.3% |
| Operating profit (loss) | 9901 | €89,483 | €252,237 | +€162,754 | +182% |
| Financial income | 75/76B | - | €16,215 | +€16,215 | |
| Recurring financial income | 75 | - | €16,215 | +€16,215 | |
| Non-recurring financial income | 76B | - | €16,215 | +€16,215 | |
| Financial charges | 65/66B | €31,344 | €39,271 | +€7,927 | +25.3% |
| Recurring financial charges | 65 | €31,344 | €39,271 | +€7,927 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €58,139 | €229,181 | +€171,042 | +294% |
| Income taxes | 67/77 | €22,035 | €75,946 | +€53,911 | +245% |
| Profit (loss) for the period | 9904 | €36,104 | €153,235 | +€117,131 | +324% |
| Profit (loss) for the period to be appropriated | 9905 | €36,104 | €153,235 | +€117,131 | +324% |
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 16 October 2026 via checked.be.