BDC 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.
BDC Projects
Largest movements
- Receivables within one year +€64,859
up €64,859 (+456.8%), from €14,198 to €79,056
of which Trade receivables: +€63,604
- Cash -€16,266
down €16,266 (-75.9%), from €21,433 to €5,167
mainly Receivables within one year (-€64,859) and Net result for the year (-€19,634)
- Tangible fixed assets -€3,458
down €3,458 (-94.3%), from €3,666 to €208
of which Furniture and vehicles: -€3,458
- Trade debts +€90,596
up €90,596 (+4515.3%), from €2,006 to €92,603
- Profit (loss) carried forward -€19,634
down €19,634 (-61.7%), from -€31,832 to -€51,466
- Other debts -€13,170
down €13,170 (-49.9%), from €26,387 to €13,217
- Tax, wage and social debts -€8,762
down €8,762 (-61.6%), from €14,222 to €5,459
of which Taxes: -€8,762
- Current portion of long-term debt -€4,725
down €4,725 (-100.0%), from €4,725 to €0
- Gross operating margin -€15,929
down €15,929, from €2,863 to -€13,066
- Depreciation -€1,709
down €1,709 (-33.1%), from €5,167 to €3,458
- Other operating charges +€831
up €831 (+91.0%), from €914 to €1,745
- Financial charges +€259
up €259 (+23.0%), from €1,128 to €1,387
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 | €40,204 | €84,511 | +€44,306 | +110.2% |
| Fixed assets | 21/28 | €3,666 | €208 | -€3,458 | -94.3% |
| Tangible fixed assets | 22/27 | €3,666 | €208 | -€3,458 | -94.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,666 | €208 | -€3,458 | -94.3% |
| Current assets | 29/58 | €36,538 | €84,302 | +€47,764 | +130.7% |
| Amounts receivable within one year | 40/41 | €14,198 | €79,056 | +€64,859 | +456.8% |
| Trade receivables | 40 | €14,198 | €77,801 | +€63,604 | +448.0% |
| Other amounts receivable | 41 | €0 | €1,255 | +€1,255 | |
| Cash at bank and in hand | 54/58 | €21,433 | €5,167 | -€16,266 | -75.9% |
| Deferred charges and accrued income | 490/1 | €908 | €79 | -€828 | -91.3% |
| Total equity and liabilities | 10/49 | €40,204 | €84,511 | +€44,306 | +110.2% |
| Equity | 10/15 | -€7,201 | -€26,835 | -€19,634 | -272.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €14,631 | €14,631 | = | 0.0% |
| Distributable reserves | 133 | €14,631 | €14,631 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,832 | -€51,466 | -€19,634 | -61.7% |
| Amounts payable | 17/49 | €47,406 | €111,346 | +€63,940 | +134.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €47,340 | €111,279 | +€63,939 | +135.1% |
| Current portion of amounts payable after more than one year | 42 | €4,725 | €0 | -€4,725 | -100.0% |
| Trade debts | 44 | €2,006 | €92,603 | +€90,596 | +4515.3% |
| Suppliers | 440/4 | €2,006 | €92,603 | +€90,596 | +4515.3% |
| Taxes, remuneration and social security | 45 | €14,222 | €5,459 | -€8,762 | -61.6% |
| Taxes | 450/3 | €12,222 | €3,459 | -€8,762 | -71.7% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €26,387 | €13,217 | -€13,170 | -49.9% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,167 | €3,458 | -€1,709 | -33.1% |
| Other operating charges | 640/8 | €914 | €1,745 | +€831 | +91.0% |
| Gross operating margin | 9900 | €2,863 | -€13,066 | -€15,929 | |
| Operating profit (loss) | 9901 | -€3,217 | -€18,268 | -€15,051 | -467.8% |
| Financial income | 75/76B | €9 | €22 | +€13 | +140.9% |
| Recurring financial income | 75 | €9 | €22 | +€13 | +140.9% |
| Financial charges | 65/66B | €1,128 | €1,387 | +€259 | +23.0% |
| Recurring financial charges | 65 | €1,128 | €1,387 | +€259 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,337 | -€19,634 | -€15,298 | -352.8% |
| Profit (loss) for the period | 9904 | -€4,337 | -€19,634 | -€15,298 | -352.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,337 | -€19,634 | -€15,298 | -352.8% |
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.