BdN: 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.
BdN
Largest movements
- Intangible fixed assets +€606,553
new in 2025: €606,553
- Financial fixed assets -€231,930
no longer reported in 2025 (was €231,930)
- Receivables within one year +€17,635
up €17,635 (+72.7%), from €24,246 to €41,881
of which Other amounts receivable: +€30,571
- Tangible fixed assets -€12,376
down €12,376 (-24.6%), from €50,311 to €37,935
of which Furniture and vehicles: -€12,160
- Reserves +€135,892
up €135,892 (+235.9%), from €57,617 to €193,509
- Other debts +€125,147
up €125,147 (+5005.9%), from €2,500 to €127,647
- Debts after one year +€90,503
up €90,503 (+49.3%), from €183,707 to €274,211
- Current portion of long-term debt +€26,489
up €26,489 (+69.4%), from €38,189 to €64,678
- Financial income +€242,571
up €242,571 (+3195927.5%), from €8 to €242,578
of which Non-recurring financial income: +€240,798
- Depreciation +€10,913
up €10,913 (+73.1%), from €14,926 to €25,838
- Gross operating margin -€5,361
down €5,361 (-8.1%), from €66,260 to €60,899
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €307,882 | €689,168 | +€381,286 | +123.8% |
| Fixed assets | 21/28 | €282,241 | €644,488 | +€362,247 | +128.3% |
| Intangible fixed assets | 21 | - | €606,553 | +€606,553 | |
| Tangible fixed assets | 22/27 | €50,311 | €37,935 | -€12,376 | -24.6% |
| Plant, machinery and equipment | 23 | €311 | €96 | -€215 | -69.2% |
| Furniture and vehicles | 24 | €50,000 | €37,839 | -€12,160 | -24.3% |
| Financial fixed assets | 28 | €231,930 | - | -€231,930 | |
| Current assets | 29/58 | €25,641 | €44,680 | +€19,039 | +74.3% |
| Amounts receivable within one year | 40/41 | €24,246 | €41,881 | +€17,635 | +72.7% |
| Trade receivables | 40 | €13,021 | €85 | -€12,936 | -99.3% |
| Other amounts receivable | 41 | €11,225 | €41,796 | +€30,571 | +272.3% |
| Deferred charges and accrued income | 490/1 | €1,395 | €2,799 | +€1,404 | +100.6% |
| Total equity and liabilities | 10/49 | €307,882 | €689,168 | +€381,286 | +123.8% |
| Equity | 10/15 | €59,617 | €195,509 | +€135,892 | +227.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €57,617 | €193,509 | +€135,892 | +235.9% |
| Distributable reserves | 133 | €57,617 | €193,509 | +€135,892 | +235.9% |
| Amounts payable | 17/49 | €248,265 | €493,659 | +€245,394 | +98.8% |
| Amounts payable after more than one year | 17 | €183,707 | €274,211 | +€90,503 | +49.3% |
| Financial debts | 170/4 | €183,707 | €274,211 | +€90,503 | +49.3% |
| Amounts payable within one year | 42/48 | €63,775 | €219,448 | +€155,673 | +244.1% |
| Current portion of amounts payable after more than one year | 42 | €38,189 | €64,678 | +€26,489 | +69.4% |
| Financial debts | 43 | €5,003 | - | -€5,003 | |
| Credit institutions | 430/8 | €5,003 | - | -€5,003 | |
| Trade debts | 44 | €7,522 | €11,556 | +€4,034 | +53.6% |
| Suppliers | 440/4 | €7,522 | €11,556 | +€4,034 | +53.6% |
| Taxes, remuneration and social security | 45 | €10,562 | €15,567 | +€5,005 | +47.4% |
| Taxes | 450/3 | €10,562 | €15,567 | +€5,005 | +47.4% |
| Other amounts payable | 47/48 | €2,500 | €127,647 | +€125,147 | +5005.9% |
| Accrued charges and deferred income | 492/3 | €783 | - | -€783 | |
| Non-recurring operating income | 76A | €10,388 | - | -€10,388 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,926 | €25,838 | +€10,913 | +73.1% |
| Other operating charges | 640/8 | €1,137 | €1,308 | +€172 | +15.1% |
| Non-recurring operating charges | 66A | €343 | - | -€343 | |
| Gross operating margin | 9900 | €66,260 | €60,899 | -€5,361 | -8.1% |
| Operating profit (loss) | 9901 | €49,855 | €33,752 | -€16,103 | -32.3% |
| Financial income | 75/76B | €8 | €242,578 | +€242,571 | +3195927.5% |
| Recurring financial income | 75 | €8 | €1,780 | +€1,773 | +23357.3% |
| Non-recurring financial income | 76B | - | €240,798 | +€240,798 | |
| Financial charges | 65/66B | €8,570 | €8,565 | -€5 | -0.1% |
| Recurring financial charges | 65 | €8,570 | €8,565 | -€5 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €41,293 | €267,766 | +€226,473 | +548.4% |
| Income taxes | 67/77 | €14,340 | €14,227 | -€113 | -0.8% |
| Profit (loss) for the period | 9904 | €26,953 | €253,539 | +€226,586 | +840.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,953 | €253,539 | +€226,586 | +840.7% |
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.