BDW MANAGEMENT: 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.
BDW MANAGEMENT
Largest movements
- Receivables within one year +€127,828
up €127,828 (+471.5%), from €27,112 to €154,940
of which Trade receivables: +€112,129
- Tangible fixed assets +€29,767
new in 2026: €29,767
- Cash +€20,049
up €20,049 (+10.9%), from €183,665 to €203,714
mainly Net result for the year (+€163,535) and Tax, wage and social debts (+€32,919)
- Reserves +€145,000
up €145,000 (+94.0%), from €154,200 to €299,200
- Tax, wage and social debts +€32,919
up €32,919 (+99.1%), from €33,231 to €66,150
- Gross operating margin +€79,581
up €79,581 (+51.9%), from €153,413 to €232,994
- Taxes +€32,981
up €32,981 (+113.7%), from €28,995 to €61,976
- Other operating charges +€3,139
up €3,139 (+810.3%), from €387 to €3,526
- Depreciation +€3,107
new in 2026: €3,107
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,777 | €389,221 | +€178,444 | +84.7% |
| Fixed assets | 21/28 | - | €29,767 | +€29,767 | |
| Tangible fixed assets | 22/27 | - | €29,767 | +€29,767 | |
| Furniture and vehicles | 24 | - | €29,767 | +€29,767 | |
| Current assets | 29/58 | €210,777 | €359,454 | +€148,677 | +70.5% |
| Amounts receivable within one year | 40/41 | €27,112 | €154,940 | +€127,828 | +471.5% |
| Trade receivables | 40 | - | €112,129 | +€112,129 | |
| Other amounts receivable | 41 | €27,112 | €42,811 | +€15,699 | +57.9% |
| Cash at bank and in hand | 54/58 | €183,665 | €203,714 | +€20,049 | +10.9% |
| Deferred charges and accrued income | 490/1 | - | €799 | +€799 | |
| Total equity and liabilities | 10/49 | €210,777 | €389,221 | +€178,444 | +84.7% |
| Equity | 10/15 | €159,267 | €304,802 | +€145,535 | +91.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €154,200 | €299,200 | +€145,000 | +94.0% |
| Distributable reserves | 133 | €154,200 | €299,200 | +€145,000 | +94.0% |
| Profit (loss) carried forward | 14 | €67 | €602 | +€535 | +801.5% |
| Amounts payable | 17/49 | €51,510 | €84,420 | +€32,909 | +63.9% |
| Amounts payable within one year | 42/48 | €51,510 | €84,420 | +€32,909 | +63.9% |
| Trade debts | 44 | €279 | €270 | -€9 | -3.3% |
| Suppliers | 440/4 | €279 | €270 | -€9 | -3.3% |
| Taxes, remuneration and social security | 45 | €33,231 | €66,150 | +€32,919 | +99.1% |
| Taxes | 450/3 | €33,231 | €66,150 | +€32,919 | +99.1% |
| Other amounts payable | 47/48 | €18,000 | €18,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,107 | +€3,107 | |
| Other operating charges | 640/8 | €387 | €3,526 | +€3,139 | +810.3% |
| Gross operating margin | 9900 | €153,413 | €232,994 | +€79,581 | +51.9% |
| Operating profit (loss) | 9901 | €153,026 | €226,361 | +€73,335 | +47.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €43 | €850 | +€808 | +1889.4% |
| Recurring financial charges | 65 | €43 | €850 | +€808 | +1889.4% |
| Profit (loss) for the period before taxes | 9903 | €152,983 | €225,511 | +€72,528 | +47.4% |
| Income taxes | 67/77 | €28,995 | €61,976 | +€32,981 | +113.7% |
| Profit (loss) for the period | 9904 | €123,988 | €163,535 | +€39,547 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €123,988 | €163,535 | +€39,547 | +31.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.