BDS CONSTRUCT: 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 CONSTRUCT
Largest movements
- Stocks and contracts +€71,628
up €71,628 (+460.7%), from €15,548 to €87,176
of which Contracts in progress: +€87,176
- Receivables within one year +€33,797
up €33,797 (+41.2%), from €81,970 to €115,767
of which Other amounts receivable: +€21,399
- Cash +€12,758
up €12,758 (+33.6%), from €38,017 to €50,775
mainly Trade debts (+€68,407) and Net result for the year (+€54,126)
- Financial fixed assets +€4,371
up €4,371 (+7.4%), from €58,962 to €63,332
- Trade debts +€68,407
up €68,407 (+90.6%), from €75,502 to €143,910
- Reserves +€39,407
new in 2025: €39,407
- Profit (loss) carried forward +€14,719
up €14,719, from -€14,719 to €0
- Tax, wage and social debts +€14,093
up €14,093 (+374.2%), from €3,766 to €17,859
of which Taxes: +€13,543
- Accrued charges and deferred income -€13,911
down €13,911 (-99.8%), from €13,944 to €34
- Gross operating margin +€42,720
up €42,720 (+136.3%), from €31,342 to €74,063
- Taxes +€15,552
new in 2025: €15,552
- Depreciation -€2,075
down €2,075 (-63.3%), from €3,280 to €1,205
- Financial charges +€1,012
up €1,012 (+221.6%), from €457 to €1,469
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 | €196,262 | €318,978 | +€122,716 | +62.5% |
| Fixed assets | 21/28 | €60,727 | €65,260 | +€4,534 | +7.5% |
| Tangible fixed assets | 22/27 | €1,765 | €1,928 | +€163 | +9.2% |
| Plant, machinery and equipment | 23 | €169 | €0 | -€169 | -100.0% |
| Furniture and vehicles | 24 | €905 | €1,711 | +€806 | +89.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €690 | €217 | -€473 | -68.6% |
| Financial fixed assets | 28 | €58,962 | €63,332 | +€4,371 | +7.4% |
| Current assets | 29/58 | €135,535 | €253,717 | +€118,182 | +87.2% |
| Stocks and contracts in progress | 3 | €15,548 | €87,176 | +€71,628 | +460.7% |
| Stocks | 30/36 | €15,548 | €0 | -€15,548 | -100.0% |
| Contracts in progress | 37 | - | €87,176 | +€87,176 | |
| Amounts receivable within one year | 40/41 | €81,970 | €115,767 | +€33,797 | +41.2% |
| Trade receivables | 40 | €73,970 | €86,368 | +€12,398 | +16.8% |
| Other amounts receivable | 41 | €8,000 | €29,399 | +€21,399 | +267.5% |
| Cash at bank and in hand | 54/58 | €38,017 | €50,775 | +€12,758 | +33.6% |
| Total equity and liabilities | 10/49 | €196,262 | €318,978 | +€122,716 | +62.5% |
| Equity | 10/15 | €35,281 | €89,407 | +€54,126 | +153.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €39,407 | +€39,407 | |
| Distributable reserves | 133 | - | €39,407 | +€39,407 | |
| Profit (loss) carried forward | 14 | -€14,719 | €0 | +€14,719 | |
| Amounts payable | 17/49 | €160,981 | €229,571 | +€68,590 | +42.6% |
| Amounts payable after more than one year | 17 | €63,150 | €63,150 | = | 0.0% |
| Other amounts payable | 178/9 | €63,150 | €63,150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €83,887 | €166,387 | +€82,501 | +98.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €4,618 | €4,618 | = | 0.0% |
| Credit institutions | 430/8 | €4,618 | €4,618 | = | 0.0% |
| Trade debts | 44 | €75,502 | €143,910 | +€68,407 | +90.6% |
| Suppliers | 440/4 | €75,502 | €143,910 | +€68,407 | +90.6% |
| Taxes, remuneration and social security | 45 | €3,766 | €17,859 | +€14,093 | +374.2% |
| Taxes | 450/3 | €3,766 | €17,309 | +€13,543 | +359.6% |
| Remuneration and social security | 454/9 | - | €550 | +€550 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €13,944 | €34 | -€13,911 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,280 | €1,205 | -€2,075 | -63.3% |
| Other operating charges | 640/8 | €2,029 | €1,712 | -€317 | -15.6% |
| Non-recurring operating charges | 66A | €1,113 | €0 | -€1,113 | -100.0% |
| Gross operating margin | 9900 | €31,342 | €74,063 | +€42,720 | +136.3% |
| Operating profit (loss) | 9901 | €24,921 | €71,145 | +€46,225 | +185.5% |
| Financial income | 75/76B | €0 | €2 | +€2 | +2475.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +2475.0% |
| Financial charges | 65/66B | €457 | €1,469 | +€1,012 | +221.6% |
| Recurring financial charges | 65 | €457 | €1,469 | +€1,012 | +221.6% |
| Profit (loss) for the period before taxes | 9903 | €24,464 | €69,678 | +€45,214 | +184.8% |
| Income taxes | 67/77 | - | €15,552 | +€15,552 | |
| Profit (loss) for the period | 9904 | €24,464 | €54,126 | +€29,662 | +121.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,464 | €54,126 | +€29,662 | +121.2% |
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 9 October 2026 via checked.be.