BFDV: 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.
BFDV
Largest movements
- Current investments -€275,064
down €275,064 (-37.8%), from €726,858 to €451,794
- Receivables within one year +€238,480
up €238,480 (+40.7%), from €586,473 to €824,953
of which Other amounts receivable: +€275,516
- Cash +€128,097
up €128,097 (+36.9%), from €346,928 to €475,025
mainly Current investments (+€275,064) and Net result for the year (+€206,374)
- Reserves +€206,374
up €206,374 (+14.5%), from €1.4m to €1.6m
of which Tax-exempt reserves: +€105,250
- Other debts -€57,668
down €57,668 (-69.8%), from €82,668 to €25,000
- Tax, wage and social debts -€42,825
down €42,825 (-44.8%), from €95,566 to €52,742
- Gross operating margin +€20,660
up €20,660 (+8.2%), from €252,575 to €273,235
- Financial income +€8,969
up €8,969 (+45.9%), from €19,545 to €28,514
- Financial charges -€6,308
down €6,308 (-54.0%), from €11,678 to €5,370
- Depreciation +€5,977
new in 2025: €5,977
- Taxes +€3,861
up €3,861 (+5.0%), from €77,654 to €81,516
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 | €1,774,160 | €1,867,183 | +€93,023 | +5.2% |
| Fixed assets | 21/28 | €110,030 | €110,030 | = | 0.0% |
| Financial fixed assets | 28 | €110,030 | €110,030 | = | 0.0% |
| Current assets | 29/58 | €1,664,130 | €1,757,153 | +€93,023 | +5.6% |
| Amounts receivable within one year | 40/41 | €586,473 | €824,953 | +€238,480 | +40.7% |
| Trade receivables | 40 | €170,766 | €133,730 | -€37,035 | -21.7% |
| Other amounts receivable | 41 | €415,707 | €691,223 | +€275,516 | +66.3% |
| Current investments | 50/53 | €726,858 | €451,794 | -€275,064 | -37.8% |
| Cash at bank and in hand | 54/58 | €346,928 | €475,025 | +€128,097 | +36.9% |
| Deferred charges and accrued income | 490/1 | €3,871 | €5,380 | +€1,509 | +39.0% |
| Total equity and liabilities | 10/49 | €1,774,160 | €1,867,183 | +€93,023 | +5.2% |
| Equity | 10/15 | €1,445,253 | €1,651,626 | +€206,374 | +14.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,426,661 | €1,633,034 | +€206,374 | +14.5% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | - | €105,250 | +€105,250 | |
| Distributable reserves | 133 | €1,424,801 | €1,527,784 | +€102,983 | +7.2% |
| Amounts payable | 17/49 | €328,907 | €215,557 | -€113,350 | -34.5% |
| Amounts payable after more than one year | 17 | €121,582 | €113,231 | -€8,351 | -6.9% |
| Financial debts | 170/4 | €121,582 | €113,231 | -€8,351 | -6.9% |
| Amounts payable within one year | 42/48 | €207,325 | €102,326 | -€105,000 | -50.6% |
| Current portion of amounts payable after more than one year | 42 | €8,072 | €8,351 | +€278 | +3.4% |
| Financial debts | 43 | €8,542 | €8,425 | -€116 | -1.4% |
| Credit institutions | 430/8 | €8,542 | €8,425 | -€116 | -1.4% |
| Trade debts | 44 | €12,477 | €7,808 | -€4,669 | -37.4% |
| Suppliers | 440/4 | €12,477 | €7,808 | -€4,669 | -37.4% |
| Taxes, remuneration and social security | 45 | €95,566 | €52,742 | -€42,825 | -44.8% |
| Taxes | 450/3 | €95,566 | €52,742 | -€42,825 | -44.8% |
| Other amounts payable | 47/48 | €82,668 | €25,000 | -€57,668 | -69.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,977 | +€5,977 | |
| Other operating charges | 640/8 | €3,257 | €2,512 | -€745 | -22.9% |
| Gross operating margin | 9900 | €252,575 | €273,235 | +€20,660 | +8.2% |
| Operating profit (loss) | 9901 | €249,317 | €264,745 | +€15,428 | +6.2% |
| Financial income | 75/76B | €19,545 | €28,514 | +€8,969 | +45.9% |
| Recurring financial income | 75 | €19,545 | €28,514 | +€8,969 | +45.9% |
| Financial charges | 65/66B | €11,678 | €5,370 | -€6,308 | -54.0% |
| Recurring financial charges | 65 | €11,678 | €5,370 | -€6,308 | -54.0% |
| Profit (loss) for the period before taxes | 9903 | €257,185 | €287,889 | +€30,705 | +11.9% |
| Income taxes | 67/77 | €77,654 | €81,516 | +€3,861 | +5.0% |
| Profit (loss) for the period | 9904 | €179,531 | €206,374 | +€26,843 | +15.0% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €179,531 | €101,124 | -€78,407 | -43.7% |
Source: filed annual accounts (NBB), financial 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.