BDO BELGIUM: 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
BDO BELGIUM
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€977,658
2024 · €983,914-€6,256
Equity
€11.3m
2024 · €10.1m+€1.2m
Cash
€196,606
2024 · €428,497-€231,891
Balance sheet total
€89.2m
2024 · €78.7m+€10.5m
Largest movements
Assets
- Tangible fixed assets +€4.7m
up €4.7m (+26.4%), from €17.9m to €22.6m
of which Land and buildings: +€4.6m
- Receivables within one year +€4.0m
up €4.0m (+16.2%), from €24.7m to €28.7m
of which Other amounts receivable: +€5.3m
- Deferred charges and accrued income +€2.2m
up €2.2m (+73.4%), from €3.0m to €5.2m
Equity and liabilities
- Short-term financial debts +€5.7m
up €5.7m (+68.7%), from €8.3m to €14.1m
- Other debts +€1.6m
up €1.6m (+12.0%), from €13.4m to €15.0m
- Debts after one year +€1.5m
up €1.5m (+5.1%), from €30.0m to €31.5m
of which Financial debts: +€1.4m
- Profit (loss) carried forward +€942,585
up €942,585 (+29.4%), from €3.2m to €4.2m
Income statement
- Turnover +€3.5m
up €3.5m (+8.2%), from €42.3m to €45.8m
- Services and other goods +€2.4m
up €2.4m (+10.3%), from €23.3m to €25.7m
- Staff costs +€1.0m
up €1.0m (+9.8%), from €10.5m to €11.6m
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.
Result 2024
€983,914
Turnover
+€3.5m
Other operating income
+€100,746
Goods and materials
+€331,697
Services and other goods
-€2.4m
Staff costs
-€1.0m
Depreciation
-€224,529
Write-downs
-€22,441
Provisions
-€61,949
Other operating charges
-€20,410
Other operating items
-€348,950
Financial income
+€121,512
Financial charges
+€239,702
Taxes
-€145,399
Result 2025
€977,658
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.
From operations
-€270,739
Investment
-€7.7m
Financing
+€7.7m
Cash 2024
€428,497
From operations (derived)
-€270,739
Net result for the year
+€977,658
Depreciation
+€3.1m
Receivables within one year
-€4.0m
Deferred charges and accrued income
-€2.2m
Provisions
+€62,784
Trade debts
+€21,728
Tax, wage and social debts
+€6,350
Other debts
+€1.6m
Accrued charges and deferred income
+€117,510
Investment (derived)
-€7.7m
Investment in fixed assets (net)
-€7.6m
Current investments
-€29,644
Financing
+€7.7m
Debts after one year
+€1.5m
Current portion of long-term debt
+€235,227
Short-term financial debts
+€5.7m
Contributions, distributions and other
+€194,956
Cash 2025
€196,606
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €78,749,033 | €89,241,784 | +€10.5m | +13.3% |
| Fixed assets | 21/28 | €50,336,461 | €54,843,106 | +€4.5m | +9.0% |
| Intangible fixed assets | 21 | €4,583,694 | €4,147,027 | -€436,667 | -9.5% |
| Tangible fixed assets | 22/27 | €17,890,953 | €22,606,765 | +€4.7m | +26.4% |
| Land and buildings | 22 | €1,631,172 | €6,270,869 | +€4.6m | +284.4% |
| Plant, machinery and equipment | 23 | €1,402,102 | €1,732,436 | +€330,334 | +23.6% |
| Furniture and vehicles | 24 | €719,019 | €832,560 | +€113,541 | +15.8% |
| Leasing and similar rights | 25 | €9,678,415 | €9,576,401 | -€102,014 | -1.1% |
| Other tangible fixed assets | 26 | €2,433,512 | €4,194,499 | +€1.8m | +72.4% |
| Assets under construction and advance payments | 27 | €2,026,733 | - | -€2.0m | |
| Financial fixed assets | 28 | €27,861,814 | €28,089,314 | +€227,500 | +0.8% |
| Affiliated companies | 280/1 | €25,317,332 | €25,322,332 | +€5,000 | 0.0% |
| Participating interests | 280 | €25,317,332 | €25,322,332 | +€5,000 | 0.0% |
| Companies linked by participating interests | 282/3 | €2,527,116 | €2,749,616 | +€222,500 | +8.8% |
| Participating interests | 282 | €2,327,116 | €2,329,616 | +€2,500 | +0.1% |
| Amounts receivable | 283 | €200,000 | €420,000 | +€220,000 | +110.0% |
| Other financial fixed assets | 284/8 | €17,366 | €17,366 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €17,366 | €17,366 | = | 0.0% |
| Current assets | 29/58 | €28,412,572 | €34,398,678 | +€6.0m | +21.1% |
| Amounts receivable within one year | 40/41 | €24,667,336 | €28,664,006 | +€4.0m | +16.2% |
| Trade receivables | 40 | €7,861,270 | €6,580,403 | -€1.3m | -16.3% |
| Other amounts receivable | 41 | €16,806,066 | €22,083,603 | +€5.3m | +31.4% |
| Current investments | 50/53 | €331,406 | €361,050 | +€29,644 | +8.9% |
| Other investments | 51/53 | €331,406 | €361,050 | +€29,644 | +8.9% |
| Cash at bank and in hand | 54/58 | €428,497 | €196,606 | -€231,891 | -54.1% |
| Deferred charges and accrued income | 490/1 | €2,985,333 | €5,177,016 | +€2.2m | +73.4% |
| Total equity and liabilities | 10/49 | €78,749,033 | €89,241,784 | +€10.5m | +13.3% |
| Equity | 10/15 | €10,084,183 | €11,256,797 | +€1.2m | +11.6% |
| Contributions | 10/11 | €6,785,715 | €7,015,744 | +€230,029 | +3.4% |
| Reserves | 13 | €90,727 | €90,727 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,529 | €55,529 | = | 0.0% |
| Distributable reserves | 133 | €35,198 | €35,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,207,741 | €4,150,326 | +€942,585 | +29.4% |
| Provisions and deferred taxes | 16 | €31,406 | €94,190 | +€62,784 | +199.9% |
| Provisions for liabilities and charges | 160/5 | €31,406 | €94,190 | +€62,784 | +199.9% |
| Other liabilities and charges | 164/5 | €31,406 | €94,190 | +€62,784 | +199.9% |
| Amounts payable | 17/49 | €68,633,444 | €77,890,797 | +€9.3m | +13.5% |
| Amounts payable after more than one year | 17 | €29,980,474 | €31,521,334 | +€1.5m | +5.1% |
| Financial debts | 170/4 | €20,880,474 | €22,271,334 | +€1.4m | +6.7% |
| Leasing and similar obligations | 172 | €6,937,482 | €6,135,208 | -€802,274 | -11.6% |
| Credit institutions | 173 | €13,942,992 | €16,136,126 | +€2.2m | +15.7% |
| Other amounts payable | 178/9 | €9,100,000 | €9,250,000 | +€150,000 | +1.6% |
| Amounts payable within one year | 42/48 | €37,169,061 | €44,768,044 | +€7.6m | +20.4% |
| Current portion of amounts payable after more than one year | 42 | €5,424,938 | €5,660,165 | +€235,227 | +4.3% |
| Financial debts | 43 | €8,347,777 | €14,080,996 | +€5.7m | +68.7% |
| Credit institutions | 430/8 | €8,347,777 | €14,080,996 | +€5.7m | +68.7% |
| Trade debts | 44 | €7,562,078 | €7,583,806 | +€21,728 | +0.3% |
| Suppliers | 440/4 | €7,562,078 | €7,583,806 | +€21,728 | +0.3% |
| Taxes, remuneration and social security | 45 | €2,447,046 | €2,453,396 | +€6,350 | +0.3% |
| Taxes | 450/3 | €235,172 | €222,782 | -€12,390 | -5.3% |
| Remuneration and social security | 454/9 | €2,211,874 | €2,230,614 | +€18,740 | +0.8% |
| Other amounts payable | 47/48 | €13,387,222 | €14,989,681 | +€1.6m | +12.0% |
| Accrued charges and deferred income | 492/3 | €1,483,909 | €1,601,419 | +€117,510 | +7.9% |
| Operating income | 70/76A | €43,202,574 | €46,743,772 | +€3.5m | +8.2% |
| Turnover | 70 | €42,290,701 | €45,755,691 | +€3.5m | +8.2% |
| Own construction capitalised | 72 | €597,753 | €600,797 | +€3,044 | +0.5% |
| Other operating income | 74 | €286,538 | €387,284 | +€100,746 | +35.2% |
| Non-recurring operating income | 76A | €27,582 | - | -€27,582 | |
| Operating charges | 60/66A | €39,347,401 | €43,110,670 | +€3.8m | +9.6% |
| Goods for resale, raw materials and consumables | 60 | €2,549,934 | €2,218,237 | -€331,697 | -13.0% |
| Purchases | 600/8 | €2,549,934 | €2,218,237 | -€331,697 | -13.0% |
| Services and other goods | 61 | €23,307,182 | €25,714,167 | +€2.4m | +10.3% |
| Remuneration, social security and pensions | 62 | €10,523,768 | €11,558,008 | +€1.0m | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,904,596 | €3,129,125 | +€224,529 | +7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €183 | €22,624 | +€22,441 | +12262.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €835 | €62,784 | +€61,949 | +7419.0% |
| Other operating charges | 640/8 | €16,904 | €37,314 | +€20,410 | +120.7% |
| Non-recurring operating charges | 66A | €43,999 | €368,411 | +€324,412 | +737.3% |
| Operating profit (loss) | 9901 | €3,855,173 | €3,633,102 | -€222,071 | -5.8% |
| Financial income | 75/76B | €499,436 | €620,948 | +€121,512 | +24.3% |
| Recurring financial income | 75 | €499,436 | €620,948 | +€121,512 | +24.3% |
| Income from current assets | 751 | €499,261 | €618,313 | +€119,052 | +23.8% |
| Other financial income | 752/9 | €175 | €2,635 | +€2,460 | +1405.7% |
| Financial charges | 65/66B | €2,742,001 | €2,502,299 | -€239,702 | -8.7% |
| Recurring financial charges | 65 | €2,742,001 | €2,502,299 | -€239,702 | -8.7% |
| Debt charges | 650 | €2,692,668 | €2,393,010 | -€299,658 | -11.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €3,089 | €8,693 | +€5,604 | +181.4% |
| Other financial charges | 652/9 | €46,244 | €100,596 | +€54,352 | +117.5% |
| Profit (loss) for the period before taxes | 9903 | €1,612,608 | €1,751,751 | +€139,143 | +8.6% |
| Income taxes | 67/77 | €628,694 | €774,093 | +€145,399 | +23.1% |
| Taxes | 670/3 | €681,250 | €870,000 | +€188,750 | +27.7% |
| Tax adjustments and reversals of tax provisions | 77 | €52,556 | €95,907 | +€43,351 | +82.5% |
| Profit (loss) for the period | 9904 | €983,914 | €977,658 | -€6,256 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €983,914 | €977,658 | -€6,256 | -0.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.