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BDKM: 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.

What changed

BDKM

BE 0867.007.774
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€13,684
2024 · -€14,744+€28,428
Equity
€34,023
2024 · €30,111+€3,912
Cash
€4,539
2024 · €1,354+€3,185
Balance sheet total
€211,648
2024 · €234,131-€22,483

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets -€28,524

    down €28,524 (-13.0%), from €219,645 to €191,121

    of which Furniture and vehicles: -€16,952

  • Cash +€3,185

    up €3,185 (+235%), from €1,354 to €4,539

    mainly Depreciation (+€35,341) and Net result for the year (+€13,684)

  • Receivables within one year +€2,723

    up €2,723 (+26.1%), from €10,437 to €13,159

Equity and liabilities
  • Debts after one year -€21,358

    down €21,358 (-30.3%), from €70,422 to €49,064

  • Profit (loss) carried forward +€13,684

    up €13,684 (+92.8%), from -€14,744 to -€1,060

  • Current portion of long-term debt -€13,182

    down €13,182 (-34.8%), from €37,925 to €24,742

  • Reserves -€9,772

    down €9,772 (-29.2%), from €33,522 to €23,750

  • Other debts +€8,810

    up €8,810 (+10.0%), from €88,192 to €97,002

Income statement
  • Gross operating margin +€17,942

    up €17,942 (+49.8%), from €36,024 to €53,965

  • Depreciation -€7,360

    down €7,360 (-17.2%), from €42,700 to €35,341

  • Financial charges -€3,429

    down €3,429 (-57.0%), from €6,018 to €2,589

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 -€14,744
Gross operating margin +€17,942
Depreciation +€7,360
Other operating charges +€55
Financial income -€30
Financial charges +€3,429
Taxes -€328
Result 2025 €13,684
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€54,314
Investment -€6,817
Financing -€44,313
Cash 2024 €1,354
Net result for the year +€13,684
Depreciation +€35,341
Receivables within one year -€2,723
Deferred charges and accrued income -€134
Trade debts -€4,353
Tax, wage and social debts +€3,689
Other debts +€8,810
Investment in fixed assets (net) -€6,817
Debts after one year -€21,358
Current portion of long-term debt -€13,182
Contributions, distributions and other -€9,772
Cash 2025 €4,539
brings cash intakes cash out
Every line side by side 39 lines
Line Code 2024 2025 Change %
Total assets 20/58 €234,131 €211,648 -€22,483 -9.6%
Fixed assets 21/28 €219,645 €191,121 -€28,524 -13.0%
Tangible fixed assets 22/27 €219,645 €191,121 -€28,524 -13.0%
Land and buildings 22 €141,029 €130,464 -€10,565 -7.5%
Plant, machinery and equipment 23 €3,244 €2,236 -€1,008 -31.1%
Furniture and vehicles 24 €75,373 €58,421 -€16,952 -22.5%
Current assets 29/58 €14,485 €20,527 +€6,042 +41.7%
Amounts receivable within one year 40/41 €10,437 €13,159 +€2,723 +26.1%
Trade receivables 40 €10,437 €13,159 +€2,723 +26.1%
Cash at bank and in hand 54/58 €1,354 €4,539 +€3,185 +235%
Deferred charges and accrued income 490/1 €2,695 €2,829 +€134 +5.0%
Total equity and liabilities 10/49 €234,131 €211,648 -€22,483 -9.6%
Equity 10/15 €30,111 €34,023 +€3,912 +13.0%
Contributions 10/11 €11,333 €11,333 = 0.0%
Reserves 13 €33,522 €23,750 -€9,772 -29.2%
Distributable reserves 133 €33,522 €23,750 -€9,772 -29.2%
Profit (loss) carried forward 14 -€14,744 -€1,060 +€13,684 +92.8%
Amounts payable 17/49 €204,020 €177,625 -€26,395 -12.9%
Amounts payable after more than one year 17 €70,422 €49,064 -€21,358 -30.3%
Financial debts 170/4 €70,422 €49,064 -€21,358 -30.3%
Amounts payable within one year 42/48 €133,598 €128,561 -€5,037 -3.8%
Current portion of amounts payable after more than one year 42 €37,925 €24,742 -€13,182 -34.8%
Trade debts 44 €5,450 €1,098 -€4,353 -79.9%
Suppliers 440/4 €5,450 €1,098 -€4,353 -79.9%
Taxes, remuneration and social security 45 €2,031 €5,719 +€3,689 +182%
Taxes 450/3 €2,031 €5,719 +€3,689 +182%
Other amounts payable 47/48 €88,192 €97,002 +€8,810 +10.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €42,700 €35,341 -€7,360 -17.2%
Other operating charges 640/8 €1,944 €1,889 -€55 -2.8%
Gross operating margin 9900 €36,024 €53,965 +€17,942 +49.8%
Operating profit (loss) 9901 -€8,621 €16,735 +€25,356
Financial income 75/76B €30 €0 -€30 -99.3%
Recurring financial income 75 €30 €0 -€30 -99.3%
Financial charges 65/66B €6,018 €2,589 -€3,429 -57.0%
Recurring financial charges 65 €6,018 €2,589 -€3,429 -57.0%
Profit (loss) for the period before taxes 9903 -€14,610 €14,146 +€28,756
Income taxes 67/77 €134 €462 +€328 +244%
Profit (loss) for the period 9904 -€14,744 €13,684 +€28,428
Profit (loss) for the period to be appropriated 9905 -€14,744 €13,684 +€28,428

Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.