BD Law: 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 Law
Largest movements
- Cash -€73,154
down €73,154 (-82.9%), from €88,246 to €15,092
mainly Contributions, distributions and other (-€147,000) and Investment in fixed assets (net) (-€70,512)
- Tangible fixed assets +€54,992
up €54,992 (+458.9%), from €11,985 to €66,977
of which Land and buildings: +€53,407
- Reserves -€87,000
no longer reported in 2025 (was €87,000)
- Other debts +€32,646
up €32,646 (+745.3%), from €4,380 to €37,027
- Current portion of long-term debt +€19,948
new in 2025: €19,948
- Advances received +€11,193
new in 2025: €11,193
- Debts after one year +€10,256
new in 2025: €10,256
- Gross operating margin +€23,948
up €23,948 (+34.4%), from €69,561 to €93,509
- Depreciation +€11,197
up €11,197 (+259.0%), from €4,323 to €15,520
- Taxes +€2,937
up €2,937 (+22.0%), from €13,355 to €16,292
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 | €109,003 | €91,319 | -€17,684 | -16.2% |
| Fixed assets | 21/28 | €11,985 | €66,977 | +€54,992 | +458.9% |
| Tangible fixed assets | 22/27 | €11,985 | €66,977 | +€54,992 | +458.9% |
| Land and buildings | 22 | - | €53,407 | +€53,407 | |
| Furniture and vehicles | 24 | €11,985 | €13,571 | +€1,586 | +13.2% |
| Current assets | 29/58 | €97,018 | €24,342 | -€72,677 | -74.9% |
| Amounts receivable within one year | 40/41 | €8,773 | €9,250 | +€478 | +5.4% |
| Trade receivables | 40 | €8,773 | - | -€8,773 | |
| Other amounts receivable | 41 | - | €9,250 | +€9,250 | |
| Cash at bank and in hand | 54/58 | €88,246 | €15,092 | -€73,154 | -82.9% |
| Total equity and liabilities | 10/49 | €109,003 | €91,319 | -€17,684 | -16.2% |
| Equity | 10/15 | €88,691 | €1,826 | -€86,865 | -97.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €87,000 | - | -€87,000 | |
| Distributable reserves | 133 | €87,000 | - | -€87,000 | |
| Profit (loss) carried forward | 14 | €191 | €326 | +€135 | +70.7% |
| Amounts payable | 17/49 | €20,312 | €89,493 | +€69,181 | +340.6% |
| Amounts payable after more than one year | 17 | - | €10,256 | +€10,256 | |
| Financial debts | 170/4 | - | €10,256 | +€10,256 | |
| Amounts payable within one year | 42/48 | €20,312 | €79,237 | +€58,925 | +290.1% |
| Current portion of amounts payable after more than one year | 42 | - | €19,948 | +€19,948 | |
| Trade debts | 44 | €61 | €96 | +€35 | +58.3% |
| Suppliers | 440/4 | €61 | €96 | +€35 | +58.3% |
| Advances received on contracts in progress | 46 | - | €11,193 | +€11,193 | |
| Taxes, remuneration and social security | 45 | €15,871 | €10,974 | -€4,898 | -30.9% |
| Taxes | 450/3 | €15,871 | €10,974 | -€4,898 | -30.9% |
| Other amounts payable | 47/48 | €4,380 | €37,027 | +€32,646 | +745.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,323 | €15,520 | +€11,197 | +259.0% |
| Other operating charges | 640/8 | €1,352 | €988 | -€364 | -26.9% |
| Gross operating margin | 9900 | €69,561 | €93,509 | +€23,948 | +34.4% |
| Operating profit (loss) | 9901 | €63,886 | €77,001 | +€13,114 | +20.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €44 | €574 | +€530 | +1219.4% |
| Recurring financial charges | 65 | €44 | €574 | +€530 | +1219.4% |
| Profit (loss) for the period before taxes | 9903 | €63,843 | €76,427 | +€12,584 | +19.7% |
| Income taxes | 67/77 | €13,355 | €16,292 | +€2,937 | +22.0% |
| Profit (loss) for the period | 9904 | €50,488 | €60,135 | +€9,647 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,488 | €60,135 | +€9,647 | +19.1% |
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 7 October 2026 via checked.be.