BDV Connect: 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.
BDV Connect
Largest movements
- Cash -€68,350
down €68,350 (-61.9%), from €110,383 to €42,032
mainly Net result for the year (-€67,336) and Other debts (-€6,411)
- Current investments +€5,999
up €5,999 (+27.9%), from €21,498 to €27,497
- Receivables within one year -€4,230
down €4,230 (-16.9%), from €25,005 to €20,776
of which Other amounts receivable: -€10,064
- Reserves -€67,336
down €67,336 (-53.3%), from €126,421 to €59,085
- Other debts -€6,411
down €6,411 (-48.8%), from €13,133 to €6,722
- Tax, wage and social debts +€6,174
up €6,174 (+34.8%), from €17,722 to €23,896
of which Remuneration and social security: +€21,932
- Gross operating margin -€32,803
down €32,803 (-96.5%), from -€33,981 to -€66,784
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 | €159,719 | €91,968 | -€67,751 | -42.4% |
| Formation expenses | 20 | €338 | €63 | -€275 | -81.4% |
| Fixed assets | 21/28 | €1,691 | €1,381 | -€310 | -18.3% |
| Tangible fixed assets | 22/27 | €1,691 | €1,381 | -€310 | -18.3% |
| Plant, machinery and equipment | 23 | €1,608 | €1,381 | -€227 | -14.1% |
| Furniture and vehicles | 24 | €83 | - | -€83 | |
| Current assets | 29/58 | €157,690 | €90,524 | -€67,166 | -42.6% |
| Amounts receivable within one year | 40/41 | €25,005 | €20,776 | -€4,230 | -16.9% |
| Trade receivables | 40 | €12,255 | €18,089 | +€5,834 | +47.6% |
| Other amounts receivable | 41 | €12,750 | €2,686 | -€10,064 | -78.9% |
| Current investments | 50/53 | €21,498 | €27,497 | +€5,999 | +27.9% |
| Cash at bank and in hand | 54/58 | €110,383 | €42,032 | -€68,350 | -61.9% |
| Deferred charges and accrued income | 490/1 | €804 | €219 | -€585 | -72.7% |
| Total equity and liabilities | 10/49 | €159,719 | €91,968 | -€67,751 | -42.4% |
| Equity | 10/15 | €128,421 | €61,085 | -€67,336 | -52.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €126,421 | €59,085 | -€67,336 | -53.3% |
| Distributable reserves | 133 | €126,421 | €59,085 | -€67,336 | -53.3% |
| Amounts payable | 17/49 | €31,298 | €30,883 | -€415 | -1.3% |
| Amounts payable within one year | 42/48 | €31,298 | €30,883 | -€415 | -1.3% |
| Trade debts | 44 | €443 | €265 | -€178 | -40.3% |
| Suppliers | 440/4 | €443 | €265 | -€178 | -40.3% |
| Taxes, remuneration and social security | 45 | €17,722 | €23,896 | +€6,174 | +34.8% |
| Taxes | 450/3 | €17,722 | €1,964 | -€15,758 | -88.9% |
| Remuneration and social security | 454/9 | - | €21,932 | +€21,932 | |
| Other amounts payable | 47/48 | €13,133 | €6,722 | -€6,411 | -48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,158 | €585 | -€573 | -49.5% |
| Other operating charges | 640/8 | €553 | €227 | -€326 | -59.0% |
| Gross operating margin | 9900 | -€33,981 | -€66,784 | -€32,803 | -96.5% |
| Operating profit (loss) | 9901 | -€35,691 | -€67,595 | -€31,904 | -89.4% |
| Financial income | 75/76B | €199 | €363 | +€163 | +82.1% |
| Recurring financial income | 75 | €199 | €363 | +€163 | +82.1% |
| Financial charges | 65/66B | €137 | €104 | -€33 | -24.1% |
| Recurring financial charges | 65 | €137 | €104 | -€33 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | -€35,629 | -€67,336 | -€31,707 | -89.0% |
| Profit (loss) for the period | 9904 | -€35,629 | -€67,336 | -€31,707 | -89.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,629 | -€67,336 | -€31,707 | -89.0% |
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 7 October 2026 via checked.be.