BDS: 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.
BDS
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+46.2%), from €2.7m to €3.9m
of which Land and buildings: +€1.2m
- Receivables within one year +€41,003
up €41,003 (+114.2%), from €35,892 to €76,895
of which Other amounts receivable: +€36,329
- Debts after one year +€541,773
up €541,773 (+122.3%), from €443,048 to €984,821
- Other debts +€338,459
up €338,459 (+52.9%), from €639,940 to €978,399
- Reserves +€193,706
up €193,706 (+18.3%), from €1.1m to €1.3m
of which Distributable reserves: +€216,956
- Current portion of long-term debt +€156,050
up €156,050 (+384.5%), from €40,582 to €196,631
- Trade debts +€83,954
up €83,954 (+853.5%), from €9,836 to €93,791
- Gross operating margin +€24,421
up €24,421 (+8.3%), from €293,899 to €318,320
- Taxes -€24,128
down €24,128 (-36.7%), from €65,702 to €41,574
- Depreciation +€4,316
up €4,316 (+8.8%), from €48,775 to €53,091
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 | €2,713,896 | €4,013,844 | +€1.3m | +47.9% |
| Fixed assets | 21/28 | €2,650,875 | €3,875,774 | +€1.2m | +46.2% |
| Tangible fixed assets | 22/27 | €2,650,875 | €3,875,774 | +€1.2m | +46.2% |
| Land and buildings | 22 | €2,650,875 | €3,805,178 | +€1.2m | +43.5% |
| Furniture and vehicles | 24 | - | €70,595 | +€70,595 | |
| Current assets | 29/58 | €63,021 | €138,071 | +€75,049 | +119.1% |
| Amounts receivable within one year | 40/41 | €35,892 | €76,895 | +€41,003 | +114.2% |
| Trade receivables | 40 | €35,892 | €40,565 | +€4,673 | +13.0% |
| Other amounts receivable | 41 | €0 | €36,329 | +€36,329 | |
| Cash at bank and in hand | 54/58 | €19,664 | €50,772 | +€31,109 | +158.2% |
| Deferred charges and accrued income | 490/1 | €7,466 | €10,404 | +€2,938 | +39.4% |
| Total equity and liabilities | 10/49 | €2,713,896 | €4,013,844 | +€1.3m | +47.9% |
| Equity | 10/15 | €1,523,237 | €1,716,943 | +€193,706 | +12.7% |
| Contributions | 10/11 | €232,500 | €232,500 | = | 0.0% |
| Reserves | 13 | €1,057,045 | €1,250,752 | +€193,706 | +18.3% |
| Non-distributable reserves | 130/1 | €23,250 | €0 | -€23,250 | -100.0% |
| Reserves not available under the articles | 1311 | €23,250 | €0 | -€23,250 | -100.0% |
| Distributable reserves | 133 | €1,033,795 | €1,250,752 | +€216,956 | +21.0% |
| Profit (loss) carried forward | 14 | €233,691 | €233,691 | = | 0.0% |
| Amounts payable | 17/49 | €1,190,659 | €2,296,901 | +€1.1m | +92.9% |
| Amounts payable after more than one year | 17 | €443,048 | €984,821 | +€541,773 | +122.3% |
| Financial debts | 170/4 | €443,048 | €984,821 | +€541,773 | +122.3% |
| Amounts payable within one year | 42/48 | €732,723 | €1,305,217 | +€572,495 | +78.1% |
| Current portion of amounts payable after more than one year | 42 | €40,582 | €196,631 | +€156,050 | +384.5% |
| Financial debts | 43 | €17,110 | €17,025 | -€85 | -0.5% |
| Credit institutions | 430/8 | €17,110 | €17,025 | -€85 | -0.5% |
| Trade debts | 44 | €9,836 | €93,791 | +€83,954 | +853.5% |
| Suppliers | 440/4 | €9,836 | €93,791 | +€83,954 | +853.5% |
| Taxes, remuneration and social security | 45 | €25,255 | €19,371 | -€5,884 | -23.3% |
| Taxes | 450/3 | €25,255 | €19,371 | -€5,884 | -23.3% |
| Other amounts payable | 47/48 | €639,940 | €978,399 | +€338,459 | +52.9% |
| Accrued charges and deferred income | 492/3 | €14,889 | €6,863 | -€8,026 | -53.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,775 | €53,091 | +€4,316 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €10,939 | €12,371 | +€1,432 | +13.1% |
| Gross operating margin | 9900 | €293,899 | €318,320 | +€24,421 | +8.3% |
| Operating profit (loss) | 9901 | €234,186 | €252,859 | +€18,673 | +8.0% |
| Financial charges | 65/66B | €14,402 | €17,579 | +€3,178 | +22.1% |
| Recurring financial charges | 65 | €14,402 | €17,579 | +€3,178 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €219,784 | €235,280 | +€15,496 | +7.1% |
| Income taxes | 67/77 | €65,702 | €41,574 | -€24,128 | -36.7% |
| Profit (loss) for the period | 9904 | €154,083 | €193,706 | +€39,624 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €154,083 | €193,706 | +€39,624 | +25.7% |
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 8 October 2026 via checked.be.