BDC VENTURES: 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 VENTURES
Largest movements
- Financial fixed assets +€100,000
up €100,000 (+222.2%), from €45,000 to €145,000
- Cash -€51,517
down €51,517 (-10.5%), from €490,573 to €439,056
mainly Investment in fixed assets (net) (-€100,000) and Trade debts (-€1,815)
- Tangible fixed assets -€40,645
down €40,645 (-68.0%), from €59,761 to €19,116
of which Other tangible fixed assets: -€47,673
- Profit (loss) carried forward +€8,804
up €8,804 (+1.9%), from -€470,445 to -€461,640
- Financial charges -€299,970
down €299,970 (-99.9%), from €300,150 to €180
of which Non-recurring financial charges: -€300,000
- Gross operating margin -€7,041
down €7,041 (-9.4%), from €74,520 to €67,479
- Depreciation -€5,133
down €5,133 (-11.2%), from €45,778 to €40,645
- Taxes +€3,206
new in 2025: €3,206
- Financial income +€1,296
up €1,296 (+367.6%), from €352 to €1,648
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 | €620,687 | €630,173 | +€9,486 | +1.5% |
| Fixed assets | 21/28 | €104,761 | €164,116 | +€59,355 | +56.7% |
| Tangible fixed assets | 22/27 | €59,761 | €19,116 | -€40,645 | -68.0% |
| Land and buildings | 22 | - | €7,028 | +€7,028 | |
| Other tangible fixed assets | 26 | €59,761 | €12,089 | -€47,673 | -79.8% |
| Financial fixed assets | 28 | €45,000 | €145,000 | +€100,000 | +222.2% |
| Current assets | 29/58 | €515,926 | €466,056 | -€49,869 | -9.7% |
| Amounts receivable within one year | 40/41 | €25,352 | €27,000 | +€1,648 | +6.5% |
| Other amounts receivable | 41 | €25,352 | €27,000 | +€1,648 | +6.5% |
| Cash at bank and in hand | 54/58 | €490,573 | €439,056 | -€51,517 | -10.5% |
| Total equity and liabilities | 10/49 | €620,687 | €630,173 | +€9,486 | +1.5% |
| Equity | 10/15 | €612,004 | €620,809 | +€8,804 | +1.4% |
| Contributions | 10/11 | €86,772 | €86,772 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Outside capital | 11 | €25,272 | €25,272 | = | 0.0% |
| Share premium | 1100/10 | €25,272 | €25,272 | = | 0.0% |
| Reserves | 13 | €995,677 | €995,677 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,677 | €8,677 | = | 0.0% |
| Legal reserve | 130 | €8,677 | €8,677 | = | 0.0% |
| Distributable reserves | 133 | €987,000 | €987,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€470,445 | -€461,640 | +€8,804 | +1.9% |
| Amounts payable | 17/49 | €8,682 | €9,364 | +€682 | +7.9% |
| Amounts payable within one year | 42/48 | €8,682 | €9,364 | +€682 | +7.9% |
| Trade debts | 44 | €1,815 | €0 | -€1,815 | -100.0% |
| Suppliers | 440/4 | €1,815 | €0 | -€1,815 | -100.0% |
| Taxes, remuneration and social security | 45 | €6,867 | €6,842 | -€25 | -0.4% |
| Taxes | 450/3 | €6,867 | €6,842 | -€25 | -0.4% |
| Other amounts payable | 47/48 | - | €2,522 | +€2,522 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,778 | €40,645 | -€5,133 | -11.2% |
| Other operating charges | 640/8 | €15,598 | €16,292 | +€694 | +4.5% |
| Gross operating margin | 9900 | €74,520 | €67,479 | -€7,041 | -9.4% |
| Operating profit (loss) | 9901 | €13,144 | €10,542 | -€2,602 | -19.8% |
| Financial income | 75/76B | €352 | €1,648 | +€1,296 | +367.6% |
| Recurring financial income | 75 | €352 | €1,648 | +€1,296 | +367.6% |
| Financial charges | 65/66B | €300,150 | €180 | -€299,970 | -99.9% |
| Recurring financial charges | 65 | €150 | €180 | +€30 | +20.0% |
| Non-recurring financial charges | 66B | €300,000 | €0 | -€300,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€286,654 | €12,010 | +€298,664 | |
| Transfer to deferred taxes | 680 | €3,705 | - | -€3,705 | |
| Income taxes | 67/77 | - | €3,206 | +€3,206 | |
| Profit (loss) for the period | 9904 | -€290,358 | €8,804 | +€299,163 | |
| Profit (loss) for the period to be appropriated | 9905 | -€290,358 | €8,804 | +€299,163 |
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 1 October 2026 via checked.be.