BDE INVEST: 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.
BDE INVEST
Largest movements
- Financial fixed assets -€574,600
down €574,600 (-51.9%), from €1.1m to €532,362
- Receivables within one year +€471,158
up €471,158 (+185%), from €254,406 to €725,564
- Cash +€145,898
up €145,898 (+754%), from €19,362 to €165,260
mainly Net result for the year (+€764,343) and Investment in fixed assets (net) (+€574,600)
- Profit (loss) carried forward +€764,343
up €764,343 (+31.1%), from -€2.5m to -€1.7m
- Other debts -€336,240
down €336,240 (-49.1%), from €684,133 to €347,893
- Debts after one year -€148,594
down €148,594 (-7.4%), from €2.0m to €1.9m
- Tax, wage and social debts -€117,196
down €117,196 (-86.3%), from €135,869 to €18,674
of which Taxes: -€77,588
- Current portion of long-term debt -€105,035
down €105,035 (-93.0%), from €112,922 to €7,887
- Financial charges -€959,877
down €959,877 (-69.2%), from €1.4m to €427,311
of which Non-recurring financial charges: -€680,574
- Financial income +€681,541
up €681,541 (+127%), from €538,459 to €1.2m
of which Non-recurring financial income: +€681,541
- Gross operating margin -€76,762
down €76,762 (-43.5%), from €176,372 to €99,610
- Staff costs +€10,081
up €10,081 (+10.6%), from €95,252 to €105,333
- Other operating charges -€5,408
down €5,408 (-24.5%), from €22,080 to €16,672
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.
Derived cash bridge
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 | €1,398,631 | €1,435,136 | +€36,505 | +2.6% |
| Fixed assets | 21/28 | €1,124,863 | €544,312 | -€580,551 | -51.6% |
| Tangible fixed assets | 22/27 | €17,900 | €11,950 | -€5,951 | -33.2% |
| Leasing and similar rights | 25 | €17,900 | €11,950 | -€5,951 | -33.2% |
| Financial fixed assets | 28 | €1,106,962 | €532,362 | -€574,600 | -51.9% |
| Current assets | 29/58 | €273,768 | €890,824 | +€617,056 | +225% |
| Amounts receivable within one year | 40/41 | €254,406 | €725,564 | +€471,158 | +185% |
| Other amounts receivable | 41 | €254,406 | €725,564 | +€471,158 | +185% |
| Cash at bank and in hand | 54/58 | €19,362 | €165,260 | +€145,898 | +754% |
| Total equity and liabilities | 10/49 | €1,398,631 | €1,435,136 | +€36,505 | +2.6% |
| Equity | 10/15 | -€1,650,180 | -€885,837 | +€764,343 | +46.3% |
| Contributions | 10/11 | €805,000 | €805,000 | = | 0.0% |
| Capital | 10 | €805,000 | €805,000 | = | 0.0% |
| Issued capital | 100 | €805,000 | €805,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,455,180 | -€1,690,837 | +€764,343 | +31.1% |
| Amounts payable | 17/49 | €3,048,811 | €2,320,973 | -€727,839 | -23.9% |
| Amounts payable after more than one year | 17 | €2,000,439 | €1,851,845 | -€148,594 | -7.4% |
| Financial debts | 170/4 | €2,000,439 | €1,851,845 | -€148,594 | -7.4% |
| Amounts payable within one year | 42/48 | €1,048,372 | €469,128 | -€579,244 | -55.3% |
| Current portion of amounts payable after more than one year | 42 | €112,922 | €7,887 | -€105,035 | -93.0% |
| Financial debts | 43 | - | €67,382 | +€67,382 | |
| Credit institutions | 430/8 | - | €67,382 | +€67,382 | |
| Trade debts | 44 | €115,448 | €27,293 | -€88,155 | -76.4% |
| Suppliers | 440/4 | €115,448 | €27,293 | -€88,155 | -76.4% |
| Taxes, remuneration and social security | 45 | €135,869 | €18,674 | -€117,196 | -86.3% |
| Taxes | 450/3 | €77,588 | - | -€77,588 | |
| Remuneration and social security | 454/9 | €58,282 | €18,674 | -€39,608 | -68.0% |
| Other amounts payable | 47/48 | €684,133 | €347,893 | -€336,240 | -49.1% |
| Non-recurring operating income | 76A | €37,450 | - | -€37,450 | |
| Remuneration, social security and pensions | 62 | €95,252 | €105,333 | +€10,081 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,967 | €5,951 | -€16 | -0.3% |
| Other operating charges | 640/8 | €22,080 | €16,672 | -€5,408 | -24.5% |
| Gross operating margin | 9900 | €176,372 | €99,610 | -€76,762 | -43.5% |
| Operating profit (loss) | 9901 | €53,073 | -€28,346 | -€81,419 | |
| Financial income | 75/76B | €538,459 | €1,220,000 | +€681,541 | +127% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Non-recurring financial income | 76B | €538,459 | €1,220,000 | +€681,541 | +127% |
| Financial charges | 65/66B | €1,387,187 | €427,311 | -€959,877 | -69.2% |
| Recurring financial charges | 65 | €706,614 | €427,311 | -€279,303 | -39.5% |
| Non-recurring financial charges | 66B | €680,574 | - | -€680,574 | |
| Profit (loss) for the period before taxes | 9903 | -€795,655 | €764,343 | +€1.6m | |
| Income taxes | 67/77 | €758 | - | -€758 | |
| Profit (loss) for the period | 9904 | -€796,414 | €764,343 | +€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€796,414 | €764,343 | +€1.6m |
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 31 October 2026 via checked.be.