BdV ImG: 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 ImG
Largest movements
- Receivables after one year +€62,500
up €62,500, from €0 to €62,500
- Receivables within one year -€45,019
down €45,019 (-36.4%), from €123,707 to €78,688
of which Other amounts receivable: -€68,092
- Cash +€35,364
up €35,364 (+393.2%), from €8,994 to €44,359
mainly Depreciation (+€57,714) and Net result for the year (+€54,709)
- Tangible fixed assets -€33,759
down €33,759 (-8.1%), from €415,881 to €382,122
of which Land and buildings: -€24,253
- Profit (loss) carried forward +€53,225
up €53,225 (+75.1%), from -€70,879 to -€17,654
- Debts after one year -€32,405
down €32,405 (-8.3%), from €389,733 to €357,328
- Trade debts +€32,320
up €32,320 (+161.7%), from €19,983 to €52,303
- Current portion of long-term debt -€25,368
down €25,368 (-31.6%), from €80,210 to €54,842
- Other debts -€10,000
down €10,000 (-100.0%), from €10,000 to €0
- Gross operating margin -€38,402
down €38,402 (-14.6%), from €263,486 to €225,083
- Taxes -€8,422
down €8,422 (-34.2%), from €24,616 to €16,195
- Staff costs -€7,763
down €7,763 (-8.4%), from €92,748 to €84,985
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 | €558,492 | €582,516 | +€24,023 | +4.3% |
| Fixed assets | 21/28 | €416,909 | €382,990 | -€33,918 | -8.1% |
| Intangible fixed assets | 21 | €160 | €0 | -€160 | -100.0% |
| Tangible fixed assets | 22/27 | €415,881 | €382,122 | -€33,759 | -8.1% |
| Land and buildings | 22 | €399,480 | €375,227 | -€24,253 | -6.1% |
| Plant, machinery and equipment | 23 | €12,559 | €4,822 | -€7,737 | -61.6% |
| Furniture and vehicles | 24 | €3,842 | €2,073 | -€1,769 | -46.1% |
| Financial fixed assets | 28 | €868 | €868 | = | 0.0% |
| Current assets | 29/58 | €141,584 | €199,526 | +€57,942 | +40.9% |
| Amounts receivable after more than one year | 29 | €0 | €62,500 | +€62,500 | |
| Other amounts receivable | 291 | €0 | €62,500 | +€62,500 | |
| Stocks and contracts in progress | 3 | €2,103 | €4,000 | +€1,897 | +90.2% |
| Stocks | 30/36 | €2,103 | €4,000 | +€1,897 | +90.2% |
| Amounts receivable within one year | 40/41 | €123,707 | €78,688 | -€45,019 | -36.4% |
| Trade receivables | 40 | €2,282 | €25,355 | +€23,073 | +1011.2% |
| Other amounts receivable | 41 | €121,425 | €53,333 | -€68,092 | -56.1% |
| Cash at bank and in hand | 54/58 | €8,994 | €44,359 | +€35,364 | +393.2% |
| Deferred charges and accrued income | 490/1 | €6,780 | €9,979 | +€3,200 | +47.2% |
| Total equity and liabilities | 10/49 | €558,492 | €582,516 | +€24,023 | +4.3% |
| Equity | 10/15 | €21,481 | €74,706 | +€53,225 | +247.8% |
| Contributions | 10/11 | €12,450 | €12,450 | = | 0.0% |
| Reserves | 13 | €79,910 | €79,910 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €61,160 | €61,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,879 | -€17,654 | +€53,225 | +75.1% |
| Amounts payable | 17/49 | €537,012 | €507,810 | -€29,202 | -5.4% |
| Amounts payable after more than one year | 17 | €389,733 | €357,328 | -€32,405 | -8.3% |
| Financial debts | 170/4 | €389,733 | €357,328 | -€32,405 | -8.3% |
| Amounts payable within one year | 42/48 | €144,370 | €145,259 | +€889 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €80,210 | €54,842 | -€25,368 | -31.6% |
| Financial debts | 43 | €2,738 | €0 | -€2,738 | -100.0% |
| Credit institutions | 430/8 | €2,738 | €0 | -€2,738 | -100.0% |
| Trade debts | 44 | €19,983 | €52,303 | +€32,320 | +161.7% |
| Suppliers | 440/4 | €19,983 | €52,303 | +€32,320 | +161.7% |
| Advances received on contracts in progress | 46 | €1,004 | €2,700 | +€1,696 | +168.9% |
| Taxes, remuneration and social security | 45 | €30,435 | €35,414 | +€4,979 | +16.4% |
| Taxes | 450/3 | €16,797 | €22,135 | +€5,338 | +31.8% |
| Remuneration and social security | 454/9 | €13,638 | €13,279 | -€359 | -2.6% |
| Other amounts payable | 47/48 | €10,000 | €0 | -€10,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,908 | €5,223 | +€2,314 | +79.6% |
| Remuneration, social security and pensions | 62 | €92,748 | €84,985 | -€7,763 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,528 | €57,714 | -€1,814 | -3.0% |
| Other operating charges | 640/8 | €8,186 | €6,525 | -€1,661 | -20.3% |
| Gross operating margin | 9900 | €263,486 | €225,083 | -€38,402 | -14.6% |
| Operating profit (loss) | 9901 | €103,024 | €75,860 | -€27,164 | -26.4% |
| Financial income | 75/76B | €4,178 | €5,497 | +€1,319 | +31.6% |
| Recurring financial income | 75 | €4,178 | €5,497 | +€1,319 | +31.6% |
| Financial charges | 65/66B | €12,558 | €10,453 | -€2,105 | -16.8% |
| Recurring financial charges | 65 | €12,558 | €10,453 | -€2,105 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €94,644 | €70,904 | -€23,740 | -25.1% |
| Income taxes | 67/77 | €24,616 | €16,195 | -€8,422 | -34.2% |
| Profit (loss) for the period | 9904 | €70,027 | €54,709 | -€15,318 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,027 | €54,709 | -€15,318 | -21.9% |
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.