BD VISION: 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 VISION
Largest movements
- Receivables within one year +€61,051
up €61,051 (+5,009%), from €1,219 to €62,270
of which Trade receivables: +€58,549
- Tangible fixed assets -€17,548
down €17,548 (-10.1%), from €173,879 to €156,331
of which Other tangible fixed assets: -€16,120
- Stocks and contracts -€13,860
down €13,860 (-16.3%), from €85,261 to €71,401
- Cash +€8,835
up €8,835 (+43.0%), from €20,541 to €29,377
mainly Trade debts (+€51,504) and Depreciation (+€23,198)
- Trade debts +€51,504
up €51,504 (+153%), from €33,668 to €85,172
- Debts after one year -€13,443
down €13,443 (-16.6%), from €80,783 to €67,341
- Profit (loss) carried forward -€5,185
new in 2025: -€5,185
- Tax, wage and social debts +€4,563
up €4,563 (+37.9%), from €12,036 to €16,600
of which Taxes: +€3,155
- Staff costs +€19,700
up €19,700 (+737%), from €2,673 to €22,373
- Depreciation +€12,657
up €12,657 (+120%), from €10,541 to €23,198
- Gross operating margin +€5,067
up €5,067 (+11.9%), from €42,599 to €47,665
- Taxes -€4,195
down €4,195 (-96.9%), from €4,330 to €135
- Financial charges +€4,048
up €4,048 (+109%), from €3,704 to €7,752
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 | €282,088 | €319,673 | +€37,585 | +13.3% |
| Fixed assets | 21/28 | €173,879 | €156,331 | -€17,548 | -10.1% |
| Tangible fixed assets | 22/27 | €173,879 | €156,331 | -€17,548 | -10.1% |
| Furniture and vehicles | 24 | €12,473 | €11,045 | -€1,428 | -11.4% |
| Other tangible fixed assets | 26 | €161,406 | €145,286 | -€16,120 | -10.0% |
| Current assets | 29/58 | €108,209 | €163,341 | +€55,133 | +51.0% |
| Stocks and contracts in progress | 3 | €85,261 | €71,401 | -€13,860 | -16.3% |
| Stocks | 30/36 | €85,261 | €71,401 | -€13,860 | -16.3% |
| Amounts receivable within one year | 40/41 | €1,219 | €62,270 | +€61,051 | +5,009% |
| Trade receivables | 40 | €1,199 | €59,747 | +€58,549 | +4,883% |
| Other amounts receivable | 41 | €20 | €2,523 | +€2,503 | +12,513% |
| Cash at bank and in hand | 54/58 | €20,541 | €29,377 | +€8,835 | +43.0% |
| Deferred charges and accrued income | 490/1 | €1,188 | €294 | -€894 | -75.2% |
| Total equity and liabilities | 10/49 | €282,088 | €319,673 | +€37,585 | +13.3% |
| Equity | 10/15 | €110,990 | €105,805 | -€5,185 | -4.7% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €20,990 | €20,990 | = | 0.0% |
| Distributable reserves | 133 | €20,990 | €20,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,185 | -€5,185 | |
| Amounts payable | 17/49 | €171,098 | €213,867 | +€42,770 | +25.0% |
| Amounts payable after more than one year | 17 | €80,783 | €67,341 | -€13,443 | -16.6% |
| Financial debts | 170/4 | €80,783 | €67,341 | -€13,443 | -16.6% |
| Amounts payable within one year | 42/48 | €90,128 | €146,341 | +€56,213 | +62.4% |
| Current portion of amounts payable after more than one year | 42 | €14,295 | €14,803 | +€509 | +3.6% |
| Trade debts | 44 | €33,668 | €85,172 | +€51,504 | +153% |
| Suppliers | 440/4 | €33,668 | €85,172 | +€51,504 | +153% |
| Taxes, remuneration and social security | 45 | €12,036 | €16,600 | +€4,563 | +37.9% |
| Taxes | 450/3 | €7,434 | €10,589 | +€3,155 | +42.4% |
| Remuneration and social security | 454/9 | €4,602 | €6,011 | +€1,409 | +30.6% |
| Other amounts payable | 47/48 | €30,129 | €29,766 | -€363 | -1.2% |
| Accrued charges and deferred income | 492/3 | €186 | €186 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,673 | €22,373 | +€19,700 | +737% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,541 | €23,198 | +€12,657 | +120% |
| Other operating charges | 640/8 | €1,214 | €3,251 | +€2,037 | +168% |
| Gross operating margin | 9900 | €42,599 | €47,665 | +€5,067 | +11.9% |
| Operating profit (loss) | 9901 | €28,170 | -€1,157 | -€29,326 | |
| Financial income | 75/76B | €854 | €3,859 | +€3,005 | +352% |
| Recurring financial income | 75 | €854 | €3,859 | +€3,005 | +352% |
| Financial charges | 65/66B | €3,704 | €7,752 | +€4,048 | +109% |
| Recurring financial charges | 65 | €3,704 | €7,752 | +€4,048 | +109% |
| Profit (loss) for the period before taxes | 9903 | €25,320 | -€5,050 | -€30,370 | |
| Income taxes | 67/77 | €4,330 | €135 | -€4,195 | -96.9% |
| Profit (loss) for the period | 9904 | €20,990 | -€5,185 | -€26,175 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,990 | -€5,185 | -€26,175 |
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 14 October 2026 via checked.be.