Bedecom: what changed
Two financial 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.
What changed
Bedecom
NACE 68.121, Development of residential building projects
financial year 31-12-2025 compared with 30-09-2024not consecutivefiled annual accounts (NBB)
Net result for the year
€202,537
30-09-2024 · €231,510-€28,973
Equity
€4.5m
30-09-2024 · €4.5m+€39,677
Cash
€637,417
30-09-2024 · €1.3m-€671,695
Balance sheet total
€18.1m
30-09-2024 · €21.8m-€3.6m
Largest movements
Assets
- Stocks and contracts -€2.2m
down €2.2m (-12.5%), from €17.7m to €15.5m
- Cash -€671,695
down €671,695 (-51.3%), from €1.3m to €637,417
- Deferred charges and accrued income -€376,206
down €376,206 (-83.6%), from €450,225 to €74,019
- Receivables within one year -€218,313
down €218,313 (-16.6%), from €1.3m to €1.1m
of which Trade receivables: -€274,039
Equity and liabilities
- Advances received -€3.7m
down €3.7m (-99.4%), from €3.7m to €22,670
Income statement
- Gross operating margin -€461,919
down €461,919 (-25.1%), from €1.8m to €1.4m
- Staff costs -€189,126
down €189,126 (-25.8%), from €732,864 to €543,738
- Financial charges +€120,921
up €120,921 (+53.8%), from €224,566 to €345,487
of which Financial charges: +€125,083
- Other operating charges -€111,509
down €111,509 (-53.2%), from €209,760 to €98,251
- Financial income +€100,935
up €100,935 (+1,286%), from €7,849 to €108,784
From the 30-09-2024 result to the 31-12-2025 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.
Result 30-09-2024
€231,510
Gross operating margin
-€461,919
Staff costs
+€189,126
Depreciation
+€93,632
Other operating charges
+€111,509
Other operating items
-€3,751
Financial income
+€100,935
Financial charges
-€120,921
Taxes
+€35,465
Deferred taxes and other
+€26,950
Result 31-12-2025
€202,537
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 30-09-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,776,507 | €18,141,265 | -€3.6m | -16.7% |
| Fixed assets | 21/28 | €851,279 | €827,496 | -€23,783 | -2.8% |
| Intangible fixed assets | 21 | €585,389 | €468,312 | -€117,077 | -20.0% |
| Tangible fixed assets | 22/27 | €234,962 | €328,306 | +€93,344 | +39.7% |
| Land and buildings | 22 | €204,590 | €189,941 | -€14,649 | -7.2% |
| Plant, machinery and equipment | 23 | €4,429 | €7,229 | +€2,800 | +63.2% |
| Furniture and vehicles | 24 | €18,980 | €32,994 | +€14,014 | +73.8% |
| Other tangible fixed assets | 26 | €6,962 | €98,141 | +€91,179 | +1,310% |
| Financial fixed assets | 28 | €30,928 | €30,878 | -€50 | -0.2% |
| Current assets | 29/58 | €20,925,228 | €17,313,769 | -€3.6m | -17.3% |
| Amounts receivable after more than one year | 29 | €149,202 | €21,434 | -€127,768 | -85.6% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €149,202 | €21,434 | -€127,768 | -85.6% |
| Stocks and contracts in progress | 3 | €17,699,907 | €15,482,430 | -€2.2m | -12.5% |
| Stocks | 30/36 | €17,699,907 | €15,482,430 | -€2.2m | -12.5% |
| Amounts receivable within one year | 40/41 | €1,316,782 | €1,098,469 | -€218,313 | -16.6% |
| Trade receivables | 40 | €516,652 | €242,613 | -€274,039 | -53.0% |
| Other amounts receivable | 41 | €800,130 | €855,857 | +€55,727 | +7.0% |
| Cash at bank and in hand | 54/58 | €1,309,112 | €637,417 | -€671,695 | -51.3% |
| Deferred charges and accrued income | 490/1 | €450,225 | €74,019 | -€376,206 | -83.6% |
| Total equity and liabilities | 10/49 | €21,776,507 | €18,141,265 | -€3.6m | -16.7% |
| Equity | 10/15 | €4,507,256 | €4,546,933 | +€39,677 | +0.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €830,362 | €829,324 | -€1,038 | -0.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €79,815 | €78,777 | -€1,038 | -1.3% |
| Distributable reserves | 133 | €744,347 | €744,347 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €3,614,894 | €3,655,609 | +€40,715 | +1.1% |
| Provisions and deferred taxes | 16 | €26,605 | €26,259 | -€346 | -1.3% |
| Deferred taxes | 168 | €26,605 | €26,259 | -€346 | -1.3% |
| Amounts payable | 17/49 | €17,242,646 | €13,568,073 | -€3.7m | -21.3% |
| Amounts payable after more than one year | 17 | €13,088,474 | €12,906,646 | -€181,828 | -1.4% |
| Other amounts payable | 178/9 | €13,088,474 | €12,906,646 | -€181,828 | -1.4% |
| Amounts payable within one year | 42/48 | €4,144,502 | €604,844 | -€3.5m | -85.4% |
| Trade debts | 44 | €226,541 | €304,241 | +€77,700 | +34.3% |
| Suppliers | 440/4 | €226,541 | €304,241 | +€77,700 | +34.3% |
| Advances received on contracts in progress | 46 | €3,740,005 | €22,670 | -€3.7m | -99.4% |
| Taxes, remuneration and social security | 45 | €91,773 | €61,103 | -€30,670 | -33.4% |
| Taxes | 450/3 | €56,953 | €22,892 | -€34,061 | -59.8% |
| Remuneration and social security | 454/9 | €34,820 | €38,211 | +€3,391 | +9.7% |
| Other amounts payable | 47/48 | €86,183 | €216,829 | +€130,646 | +152% |
| Accrued charges and deferred income | 492/3 | €9,670 | €56,584 | +€46,914 | +485% |
| Non-recurring operating income | 76A | €150,972 | €6,991 | -€143,981 | -95.4% |
| Remuneration, social security and pensions | 62 | €732,864 | €543,738 | -€189,126 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €249,646 | €156,014 | -€93,632 | -37.5% |
| Other operating charges | 640/8 | €209,760 | €98,251 | -€111,509 | -53.2% |
| Non-recurring operating charges | 66A | - | €3,751 | +€3,751 | |
| Gross operating margin | 9900 | €1,839,902 | €1,377,983 | -€461,919 | -25.1% |
| Operating profit (loss) | 9901 | €647,632 | €576,230 | -€71,402 | -11.0% |
| Financial income | 75/76B | €7,849 | €108,784 | +€100,935 | +1,286% |
| Recurring financial income | 75 | €7,849 | €108,784 | +€100,935 | +1,286% |
| Financial charges | 65/66B | €224,566 | €345,487 | +€120,921 | +53.8% |
| Recurring financial charges | 65 | €220,404 | €345,487 | +€125,083 | +56.8% |
| Non-recurring financial charges | 66B | €4,162 | €0 | -€4,162 | -100% |
| Profit (loss) for the period before taxes | 9903 | €430,915 | €339,527 | -€91,388 | -21.2% |
| Transfer from deferred taxes | 780 | €10 | €346 | +€336 | +3,360% |
| Transfer to deferred taxes | 680 | €26,614 | €0 | -€26,614 | -100% |
| Income taxes | 67/77 | €172,801 | €137,336 | -€35,465 | -20.5% |
| Profit (loss) for the period | 9904 | €231,510 | €202,537 | -€28,973 | -12.5% |
| Transfer from tax-exempt reserves | 789 | €29 | €1,038 | +€1,009 | +3,479% |
| Transfer to tax-exempt reserves | 689 | €79,843 | €0 | -€79,843 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €151,695 | €203,575 | +€51,880 | +34.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.