BLD 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.
BLD MANAGEMENT
Largest movements
- Financial fixed assets +€140,000
up €140,000 (+16.9%), from €826,371 to €966,371
- Tangible fixed assets -€14,831
down €14,831 (-29.7%), from €49,878 to €35,047
of which Furniture and vehicles: -€14,518
- Receivables within one year +€12,489
new in 2025: €12,489
- Cash -€11,400
down €11,400 (-14.0%), from €81,503 to €70,103
mainly Investment in fixed assets (net) (-€140,000) and Receivables within one year (-€12,489)
- Other debts +€140,018
up €140,018 (+311152.0%), from €45 to €140,063
- Gross operating margin +€4,962
up €4,962 (+74.3%), from €6,676 to €11,638
- Depreciation -€631
down €631 (-4.1%), from €15,462 to €14,831
- Financial charges -€469
down €469 (-41.9%), from €1,118 to €650
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 | €959,715 | €1,085,872 | +€126,158 | +13.1% |
| Fixed assets | 21/28 | €876,249 | €1,001,418 | +€125,169 | +14.3% |
| Tangible fixed assets | 22/27 | €49,878 | €35,047 | -€14,831 | -29.7% |
| Furniture and vehicles | 24 | €48,336 | €33,819 | -€14,518 | -30.0% |
| Other tangible fixed assets | 26 | €1,542 | €1,229 | -€314 | -20.3% |
| Financial fixed assets | 28 | €826,371 | €966,371 | +€140,000 | +16.9% |
| Current assets | 29/58 | €83,465 | €84,454 | +€989 | +1.2% |
| Amounts receivable within one year | 40/41 | - | €12,489 | +€12,489 | |
| Trade receivables | 40 | - | €12,489 | +€12,489 | |
| Cash at bank and in hand | 54/58 | €81,503 | €70,103 | -€11,400 | -14.0% |
| Deferred charges and accrued income | 490/1 | €1,962 | €1,863 | -€100 | -5.1% |
| Total equity and liabilities | 10/49 | €959,715 | €1,085,872 | +€126,158 | +13.1% |
| Equity | 10/15 | €925,859 | €920,215 | -€5,644 | -0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €900,000 | €900,000 | = | 0.0% |
| Distributable reserves | 133 | €900,000 | €900,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,459 | €7,815 | -€5,644 | -41.9% |
| Amounts payable | 17/49 | €33,856 | €165,657 | +€131,802 | +389.3% |
| Amounts payable after more than one year | 17 | €5,257 | - | -€5,257 | |
| Financial debts | 170/4 | €5,257 | - | -€5,257 | |
| Amounts payable within one year | 42/48 | €28,557 | €165,614 | +€137,057 | +479.9% |
| Current portion of amounts payable after more than one year | 42 | €12,271 | €5,257 | -€7,015 | -57.2% |
| Trade debts | 44 | €470 | €347 | -€123 | -26.1% |
| Suppliers | 440/4 | €470 | €347 | -€123 | -26.1% |
| Taxes, remuneration and social security | 45 | €15,771 | €19,947 | +€4,176 | +26.5% |
| Taxes | 450/3 | €11,771 | €15,947 | +€4,176 | +35.5% |
| Remuneration and social security | 454/9 | €4,000 | €4,000 | = | 0.0% |
| Other amounts payable | 47/48 | €45 | €140,063 | +€140,018 | +311152.0% |
| Accrued charges and deferred income | 492/3 | €42 | €43 | +€1 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,462 | €14,831 | -€631 | -4.1% |
| Other operating charges | 640/8 | €1,562 | €1,521 | -€41 | -2.6% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | €6,676 | €11,638 | +€4,962 | +74.3% |
| Operating profit (loss) | 9901 | -€10,349 | -€4,778 | +€5,571 | +53.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,118 | €650 | -€469 | -41.9% |
| Recurring financial charges | 65 | €1,118 | €650 | -€469 | -41.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,467 | -€5,427 | +€6,040 | +52.7% |
| Income taxes | 67/77 | €231 | €217 | -€14 | -6.2% |
| Profit (loss) for the period | 9904 | -€11,698 | -€5,644 | +€6,055 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,698 | -€5,644 | +€6,055 | +51.8% |
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 3 October 2026 via checked.be.