BDB Projects: 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.
BDB Projects
Largest movements
- Tangible fixed assets -€22,035
down €22,035 (-11.6%), from €189,150 to €167,115
- Cash +€12,305
up €12,305 (+30.1%), from €40,840 to €53,145
mainly Net result for the year (+€28,713) and Depreciation (+€24,092)
- Receivables within one year +€4,556
up €4,556 (+16.9%), from €26,978 to €31,534
of which Trade receivables: +€7,581
- Reserves +€10,535
up €10,535 (+9.0%), from €117,528 to €128,064
of which Distributable reserves: +€10,535
- Debts after one year -€9,498
down €9,498 (-13.0%), from €72,910 to €63,412
- Current portion of long-term debt -€8,820
down €8,820 (-48.1%), from €18,319 to €9,498
- Trade debts -€3,309
down €3,309 (-67.7%), from €4,888 to €1,579
- Other debts +€2,971
up €2,971 (+8.6%), from €34,520 to €37,491
- Gross operating margin +€25,233
up €25,233 (+51.6%), from €48,870 to €74,103
- Taxes +€7,424
up €7,424 (+153.8%), from €4,829 to €12,253
- Depreciation -€988
down €988 (-3.9%), from €25,079 to €24,092
- Financial charges -€911
down €911 (-14.7%), from €6,177 to €5,266
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 | €264,414 | €256,692 | -€7,722 | -2.9% |
| Fixed assets | 21/28 | €189,150 | €167,115 | -€22,035 | -11.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €189,150 | €167,115 | -€22,035 | -11.6% |
| Land and buildings | 22 | €131,450 | €125,402 | -€6,047 | -4.6% |
| Plant, machinery and equipment | 23 | €27,128 | €20,822 | -€6,306 | -23.2% |
| Furniture and vehicles | 24 | €18,034 | €10,051 | -€7,983 | -44.3% |
| Other tangible fixed assets | 26 | €12,538 | €10,840 | -€1,699 | -13.5% |
| Current assets | 29/58 | €75,264 | €89,577 | +€14,313 | +19.0% |
| Stocks and contracts in progress | 3 | €2,585 | €919 | -€1,666 | -64.4% |
| Stocks | 30/36 | €2,585 | €919 | -€1,666 | -64.4% |
| Amounts receivable within one year | 40/41 | €26,978 | €31,534 | +€4,556 | +16.9% |
| Trade receivables | 40 | €21,479 | €29,060 | +€7,581 | +35.3% |
| Other amounts receivable | 41 | €5,499 | €2,474 | -€3,025 | -55.0% |
| Cash at bank and in hand | 54/58 | €40,840 | €53,145 | +€12,305 | +30.1% |
| Deferred charges and accrued income | 490/1 | €4,861 | €3,978 | -€882 | -18.2% |
| Total equity and liabilities | 10/49 | €264,414 | €256,692 | -€7,722 | -2.9% |
| Equity | 10/15 | €129,928 | €140,464 | +€10,535 | +8.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €117,528 | €128,064 | +€10,535 | +9.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €117,528 | €128,064 | +€10,535 | +9.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €134,486 | €116,228 | -€18,257 | -13.6% |
| Amounts payable after more than one year | 17 | €72,910 | €63,412 | -€9,498 | -13.0% |
| Financial debts | 170/4 | €72,910 | €63,412 | -€9,498 | -13.0% |
| Amounts payable within one year | 42/48 | €58,950 | €50,910 | -€8,039 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €18,319 | €9,498 | -€8,820 | -48.1% |
| Trade debts | 44 | €4,888 | €1,579 | -€3,309 | -67.7% |
| Suppliers | 440/4 | €4,888 | €1,579 | -€3,309 | -67.7% |
| Taxes, remuneration and social security | 45 | €1,223 | €2,342 | +€1,119 | +91.5% |
| Taxes | 450/3 | €1,223 | €2,342 | +€1,119 | +91.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €34,520 | €37,491 | +€2,971 | +8.6% |
| Accrued charges and deferred income | 492/3 | €2,625 | €1,906 | -€720 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,079 | €24,092 | -€988 | -3.9% |
| Other operating charges | 640/8 | €2,854 | €3,203 | +€349 | +12.2% |
| Non-recurring operating charges | 66A | €963 | €623 | -€340 | -35.3% |
| Gross operating margin | 9900 | €48,870 | €74,103 | +€25,233 | +51.6% |
| Operating profit (loss) | 9901 | €19,973 | €46,185 | +€26,212 | +131.2% |
| Financial income | 75/76B | €106 | €46 | -€60 | -56.3% |
| Recurring financial income | 75 | €106 | €46 | -€60 | -56.3% |
| Financial charges | 65/66B | €6,177 | €5,266 | -€911 | -14.7% |
| Recurring financial charges | 65 | €6,177 | €5,266 | -€911 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €13,903 | €40,966 | +€27,063 | +194.7% |
| Income taxes | 67/77 | €4,829 | €12,253 | +€7,424 | +153.8% |
| Profit (loss) for the period | 9904 | €9,074 | €28,713 | +€19,638 | +216.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,074 | €28,713 | +€19,638 | +216.4% |
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 6 October 2026 via checked.be.