BLDS: 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.
BLDS
Largest movements
- Tangible fixed assets -€38,787
down €38,787 (-8.0%), from €484,171 to €445,384
of which Furniture and vehicles: -€24,543
- Cash +€34,361
up €34,361 (+80.7%), from €42,553 to €76,915
mainly Net result for the year (+€57,873) and Depreciation (+€54,196)
- Receivables within one year +€8,502
up €8,502 (+52.4%), from €16,211 to €24,712
of which Other amounts receivable: +€7,489
- Reserves +€57,873
up €57,873 (+36.7%), from €157,706 to €215,579
- Debts after one year -€36,346
down €36,346 (-11.8%), from €308,062 to €271,715
- Trade debts -€13,210
down €13,210 (-37.3%), from €35,380 to €22,170
- Gross operating margin +€29,118
up €29,118 (+22.0%), from €132,388 to €161,506
- Depreciation -€23,363
down €23,363 (-30.1%), from €77,559 to €54,196
- Taxes +€15,794
up €15,794 (+228.4%), from €6,914 to €22,709
- Financial charges +€2,162
up €2,162 (+16.4%), from €13,153 to €15,314
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 | €555,586 | €564,393 | +€8,808 | +1.6% |
| Fixed assets | 21/28 | €484,186 | €445,399 | -€38,787 | -8.0% |
| Tangible fixed assets | 22/27 | €484,171 | €445,384 | -€38,787 | -8.0% |
| Land and buildings | 22 | €331,667 | €324,109 | -€7,558 | -2.3% |
| Plant, machinery and equipment | 23 | €67,725 | €63,816 | -€3,908 | -5.8% |
| Furniture and vehicles | 24 | €82,002 | €57,459 | -€24,543 | -29.9% |
| Other tangible fixed assets | 26 | €2,777 | €0 | -€2,777 | -100.0% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €71,400 | €118,994 | +€47,594 | +66.7% |
| Stocks and contracts in progress | 3 | €3,808 | €4,111 | +€303 | +8.0% |
| Stocks | 30/36 | €3,808 | €4,111 | +€303 | +8.0% |
| Amounts receivable within one year | 40/41 | €16,211 | €24,712 | +€8,502 | +52.4% |
| Trade receivables | 40 | €4,250 | €5,263 | +€1,012 | +23.8% |
| Other amounts receivable | 41 | €11,960 | €19,450 | +€7,489 | +62.6% |
| Cash at bank and in hand | 54/58 | €42,553 | €76,915 | +€34,361 | +80.7% |
| Deferred charges and accrued income | 490/1 | €8,827 | €13,256 | +€4,428 | +50.2% |
| Total equity and liabilities | 10/49 | €555,586 | €564,393 | +€8,808 | +1.6% |
| Equity | 10/15 | €162,712 | €220,585 | +€57,873 | +35.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €157,706 | €215,579 | +€57,873 | +36.7% |
| Distributable reserves | 133 | €157,706 | €215,579 | +€57,873 | +36.7% |
| Profit (loss) carried forward | 14 | €6 | €6 | = | 0.0% |
| Amounts payable | 17/49 | €392,874 | €343,809 | -€49,065 | -12.5% |
| Amounts payable after more than one year | 17 | €308,062 | €271,715 | -€36,346 | -11.8% |
| Financial debts | 170/4 | €308,062 | €271,715 | -€36,346 | -11.8% |
| Amounts payable within one year | 42/48 | €84,812 | €72,068 | -€12,744 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €34,873 | €36,346 | +€1,473 | +4.2% |
| Trade debts | 44 | €35,380 | €22,170 | -€13,210 | -37.3% |
| Suppliers | 440/4 | €35,380 | €22,170 | -€13,210 | -37.3% |
| Advances received on contracts in progress | 46 | - | €920 | +€920 | |
| Taxes, remuneration and social security | 45 | €12,323 | €7,582 | -€4,741 | -38.5% |
| Taxes | 450/3 | €12,323 | €7,582 | -€4,741 | -38.5% |
| Other amounts payable | 47/48 | €2,236 | €5,050 | +€2,815 | +125.9% |
| Accrued charges and deferred income | 492/3 | €0 | €25 | +€25 | |
| Remuneration, social security and pensions | 62 | €5,340 | €4,558 | -€781 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,559 | €54,196 | -€23,363 | -30.1% |
| Other operating charges | 640/8 | €4,924 | €4,085 | -€839 | -17.0% |
| Non-recurring operating charges | 66A | - | €2,777 | +€2,777 | |
| Gross operating margin | 9900 | €132,388 | €161,506 | +€29,118 | +22.0% |
| Operating profit (loss) | 9901 | €44,566 | €95,889 | +€51,323 | +115.2% |
| Financial income | 75/76B | €7 | €7 | +€0 | +3.1% |
| Recurring financial income | 75 | €7 | €7 | +€0 | +3.1% |
| Financial charges | 65/66B | €13,153 | €15,314 | +€2,162 | +16.4% |
| Recurring financial charges | 65 | €13,153 | €15,314 | +€2,162 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €31,420 | €80,582 | +€49,161 | +156.5% |
| Income taxes | 67/77 | €6,914 | €22,709 | +€15,794 | +228.4% |
| Profit (loss) for the period | 9904 | €24,506 | €57,873 | +€33,367 | +136.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,506 | €57,873 | +€33,367 | +136.2% |
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 10 October 2026 via checked.be.