BDC Bros: 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.
BDC Bros
Largest movements
- Financial fixed assets +€300,000
up €300,000 (+600.0%), from €50,000 to €350,000
- Receivables within one year -€120,078
down €120,078 (-36.6%), from €328,356 to €208,278
of which Trade receivables: -€194,589
- Tangible fixed assets -€63,193
down €63,193 (-2.6%), from €2.5m to €2.4m
of which Land and buildings: -€54,947
- Cash +€55,548
up €55,548 (+233.5%), from €23,789 to €79,337
mainly Net result for the year (+€214,217) and Receivables within one year (+€120,078)
- Profit (loss) carried forward +€214,217
up €214,217 (+37.8%), from €566,552 to €780,769
- Trade debts -€112,113
down €112,113 (-85.4%), from €131,233 to €19,120
- Other debts +€98,182
up €98,182 (+15.3%), from €639,873 to €738,055
- Debts after one year -€43,560
down €43,560 (-4.4%), from €993,049 to €949,490
- Gross operating margin -€353,478
down €353,478 (-45.2%), from €782,469 to €428,991
- Other operating charges -€152,715
down €152,715 (-95.1%), from €160,658 to €7,943
- Taxes +€52,964
up €52,964 (+287.1%), from €18,450 to €71,414
- Depreciation +€28,015
up €28,015 (+41.9%), from €66,796 to €94,811
- Financial charges +€10,833
up €10,833 (+36.4%), from €29,775 to €40,608
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 | €2,865,019 | €3,037,569 | +€172,549 | +6.0% |
| Fixed assets | 21/28 | €2,512,875 | €2,749,682 | +€236,807 | +9.4% |
| Tangible fixed assets | 22/27 | €2,462,875 | €2,399,682 | -€63,193 | -2.6% |
| Land and buildings | 22 | €2,423,382 | €2,368,434 | -€54,947 | -2.3% |
| Plant, machinery and equipment | 23 | €39,493 | €31,248 | -€8,246 | -20.9% |
| Financial fixed assets | 28 | €50,000 | €350,000 | +€300,000 | +600.0% |
| Current assets | 29/58 | €352,145 | €287,887 | -€64,258 | -18.2% |
| Amounts receivable within one year | 40/41 | €328,356 | €208,278 | -€120,078 | -36.6% |
| Trade receivables | 40 | €214,868 | €20,278 | -€194,589 | -90.6% |
| Other amounts receivable | 41 | €113,488 | €188,000 | +€74,512 | +65.7% |
| Cash at bank and in hand | 54/58 | €23,789 | €79,337 | +€55,548 | +233.5% |
| Deferred charges and accrued income | 490/1 | - | €272 | +€272 | |
| Total equity and liabilities | 10/49 | €2,865,019 | €3,037,569 | +€172,549 | +6.0% |
| Equity | 10/15 | €947,024 | €1,161,241 | +€214,217 | +22.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €312,822 | €312,822 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €566,552 | €780,769 | +€214,217 | +37.8% |
| Amounts payable | 17/49 | €1,917,995 | €1,876,328 | -€41,667 | -2.2% |
| Amounts payable after more than one year | 17 | €993,049 | €949,490 | -€43,560 | -4.4% |
| Financial debts | 170/4 | €993,049 | €949,490 | -€43,560 | -4.4% |
| Amounts payable within one year | 42/48 | €924,946 | €925,338 | +€392 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €42,019 | €43,560 | +€1,541 | +3.7% |
| Trade debts | 44 | €131,233 | €19,120 | -€112,113 | -85.4% |
| Suppliers | 440/4 | €131,233 | €19,120 | -€112,113 | -85.4% |
| Taxes, remuneration and social security | 45 | €111,821 | €124,603 | +€12,782 | +11.4% |
| Taxes | 450/3 | €55,571 | €124,603 | +€69,032 | +124.2% |
| Remuneration and social security | 454/9 | €56,250 | - | -€56,250 | |
| Other amounts payable | 47/48 | €639,873 | €738,055 | +€98,182 | +15.3% |
| Accrued charges and deferred income | 492/3 | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,796 | €94,811 | +€28,015 | +41.9% |
| Other operating charges | 640/8 | €160,658 | €7,943 | -€152,715 | -95.1% |
| Gross operating margin | 9900 | €782,469 | €428,991 | -€353,478 | -45.2% |
| Operating profit (loss) | 9901 | €555,015 | €326,237 | -€228,778 | -41.2% |
| Financial income | 75/76B | €2 | €2 | -€1 | -24.6% |
| Recurring financial income | 75 | €2 | €2 | -€1 | -24.6% |
| Financial charges | 65/66B | €29,775 | €40,608 | +€10,833 | +36.4% |
| Recurring financial charges | 65 | €29,775 | €40,608 | +€10,833 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €525,242 | €285,631 | -€239,611 | -45.6% |
| Income taxes | 67/77 | €18,450 | €71,414 | +€52,964 | +287.1% |
| Profit (loss) for the period | 9904 | €506,792 | €214,217 | -€292,575 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €506,792 | €214,217 | -€292,575 | -57.7% |
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 10 October 2026 via checked.be.