BDC CONCEPT: 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.
BDC CONCEPT
Largest movements
- Receivables within one year -€34,662
down €34,662 (-58.5%), from €59,253 to €24,592
of which Trade receivables: -€25,048
- Financial fixed assets -€16,000
down €16,000 (-22.8%), from €70,133 to €54,133
- Stocks and contracts +€11,259
up €11,259 (+825.6%), from €1,364 to €12,623
- Cash -€6,615
down €6,615 (-45.8%), from €14,435 to €7,820
mainly Other debts (-€31,893) and Stocks and contracts (-€11,259)
- Other debts -€31,893
down €31,893 (-85.2%), from €37,447 to €5,554
- Advances received -€9,000
no longer reported in 2025 (was €9,000)
- Tax, wage and social debts -€4,376
down €4,376 (-63.0%), from €6,945 to €2,569
of which Remuneration and social security: -€5,031
- Trade debts -€1,694
down €1,694 (-14.8%), from €11,425 to €9,730
- Gross operating margin -€32,747
down €32,747 (-83.5%), from €39,238 to €6,492
- Staff costs -€5,140
no longer reported in 2025 (was €5,140)
- Taxes -€1,259
down €1,259 (-65.8%), from €1,914 to €655
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 | €145,185 | €99,168 | -€46,018 | -31.7% |
| Fixed assets | 21/28 | €70,133 | €54,133 | -€16,000 | -22.8% |
| Financial fixed assets | 28 | €70,133 | €54,133 | -€16,000 | -22.8% |
| Current assets | 29/58 | €75,052 | €45,035 | -€30,018 | -40.0% |
| Stocks and contracts in progress | 3 | €1,364 | €12,623 | +€11,259 | +825.6% |
| Stocks | 30/36 | €1,364 | €12,623 | +€11,259 | +825.6% |
| Amounts receivable within one year | 40/41 | €59,253 | €24,592 | -€34,662 | -58.5% |
| Trade receivables | 40 | €48,268 | €23,220 | -€25,048 | -51.9% |
| Other amounts receivable | 41 | €10,985 | €1,372 | -€9,613 | -87.5% |
| Cash at bank and in hand | 54/58 | €14,435 | €7,820 | -€6,615 | -45.8% |
| Total equity and liabilities | 10/49 | €145,185 | €99,168 | -€46,018 | -31.7% |
| Equity | 10/15 | €80,368 | €81,315 | +€946 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,908 | €60,855 | +€946 | +1.6% |
| Amounts payable | 17/49 | €64,817 | €17,853 | -€46,964 | -72.5% |
| Amounts payable within one year | 42/48 | €64,817 | €17,853 | -€46,964 | -72.5% |
| Trade debts | 44 | €11,425 | €9,730 | -€1,694 | -14.8% |
| Suppliers | 440/4 | €11,425 | €9,730 | -€1,694 | -14.8% |
| Advances received on contracts in progress | 46 | €9,000 | - | -€9,000 | |
| Taxes, remuneration and social security | 45 | €6,945 | €2,569 | -€4,376 | -63.0% |
| Taxes | 450/3 | €1,914 | €2,569 | +€655 | +34.2% |
| Remuneration and social security | 454/9 | €5,031 | - | -€5,031 | |
| Other amounts payable | 47/48 | €37,447 | €5,554 | -€31,893 | -85.2% |
| Remuneration, social security and pensions | 62 | €5,140 | - | -€5,140 | |
| Other operating charges | 640/8 | €677 | €688 | +€11 | +1.6% |
| Gross operating margin | 9900 | €39,238 | €6,492 | -€32,747 | -83.5% |
| Operating profit (loss) | 9901 | €33,421 | €5,804 | -€27,617 | -82.6% |
| Financial income | 75/76B | €31 | €43 | +€12 | +38.4% |
| Recurring financial income | 75 | €31 | €43 | +€12 | +38.4% |
| Financial charges | 65/66B | €194 | €245 | +€51 | +26.4% |
| Recurring financial charges | 65 | €194 | €245 | +€51 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €33,258 | €5,601 | -€27,656 | -83.2% |
| Income taxes | 67/77 | €1,914 | €655 | -€1,259 | -65.8% |
| Profit (loss) for the period | 9904 | €31,344 | €4,946 | -€26,398 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,344 | €4,946 | -€26,398 | -84.2% |
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 3 October 2026 via checked.be.