HOLD BDK: 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.
HOLD BDK
Largest movements
- Receivables within one year -€1.2m
down €1.2m (-99.4%), from €1.2m to €7,692
of which Other amounts receivable: -€613,301
- Reserves -€1.0m
down €1.0m (-46.2%), from €2.2m to €1.2m
- Other debts -€70,294
down €70,294 (-75.1%), from €93,559 to €23,265
- Gross operating margin -€295,091
down €295,091, from €269,072 to -€26,019
- Taxes -€28,512
down €28,512 (-98.9%), from €28,831 to €318
- Financial income -€25,859
down €25,859 (-62.7%), from €41,223 to €15,364
- Financial charges -€5,154
down €5,154 (-72.8%), from €7,078 to €1,924
- Other operating charges -€4,780
down €4,780 (-80.9%), from €5,909 to €1,130
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 | €6,373,209 | €5,201,232 | -€1.2m | -18.4% |
| Fixed assets | 21/28 | €4,361,064 | €4,349,251 | -€11,813 | -0.3% |
| Tangible fixed assets | 22/27 | €13,961 | €2,148 | -€11,813 | -84.6% |
| Plant, machinery and equipment | 23 | €996 | €465 | -€531 | -53.3% |
| Furniture and vehicles | 24 | €12,965 | €1,682 | -€11,283 | -87.0% |
| Financial fixed assets | 28 | €4,347,103 | €4,347,103 | = | 0.0% |
| Current assets | 29/58 | €2,012,145 | €851,981 | -€1.2m | -57.7% |
| Amounts receivable after more than one year | 29 | €533,519 | €573,813 | +€40,294 | +7.6% |
| Trade receivables | 290 | - | €523,813 | +€523,813 | |
| Other amounts receivable | 291 | €533,519 | €50,000 | -€483,519 | -90.6% |
| Amounts receivable within one year | 40/41 | €1,203,063 | €7,692 | -€1.2m | -99.4% |
| Trade receivables | 40 | €585,090 | €3,020 | -€582,070 | -99.5% |
| Other amounts receivable | 41 | €617,973 | €4,672 | -€613,301 | -99.2% |
| Cash at bank and in hand | 54/58 | €235,250 | €250,559 | +€15,309 | +6.5% |
| Deferred charges and accrued income | 490/1 | €40,313 | €19,917 | -€20,396 | -50.6% |
| Total equity and liabilities | 10/49 | €6,373,209 | €5,201,232 | -€1.2m | -18.4% |
| Equity | 10/15 | €6,223,763 | €5,171,853 | -€1.1m | -16.9% |
| Contributions | 10/11 | €4,005,000 | €4,005,000 | = | 0.0% |
| Reserves | 13 | €2,218,763 | €1,192,694 | -€1.0m | -46.2% |
| Distributable reserves | 133 | €2,218,763 | €1,192,694 | -€1.0m | -46.2% |
| Profit (loss) carried forward | 14 | - | -€25,840 | -€25,840 | |
| Amounts payable | 17/49 | €149,446 | €29,379 | -€120,067 | -80.3% |
| Amounts payable within one year | 42/48 | €149,446 | €27,664 | -€121,781 | -81.5% |
| Trade debts | 44 | €55,858 | €1,938 | -€53,920 | -96.5% |
| Suppliers | 440/4 | €55,858 | €1,938 | -€53,920 | -96.5% |
| Taxes, remuneration and social security | 45 | €29 | €2,462 | +€2,433 | +8474.5% |
| Taxes | 450/3 | €29 | €1,162 | +€1,133 | +3946.4% |
| Remuneration and social security | 454/9 | - | €1,300 | +€1,300 | |
| Other amounts payable | 47/48 | €93,559 | €23,265 | -€70,294 | -75.1% |
| Accrued charges and deferred income | 492/3 | - | €1,715 | +€1,715 | |
| Non-recurring operating income | 76A | €285,090 | €32,169 | -€252,921 | -88.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,999 | €11,813 | -€1,186 | -9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,800 | - | +€3,800 | |
| Other operating charges | 640/8 | €5,909 | €1,130 | -€4,780 | -80.9% |
| Gross operating margin | 9900 | €269,072 | -€26,019 | -€295,091 | |
| Operating profit (loss) | 9901 | €253,963 | -€38,962 | -€292,926 | |
| Financial income | 75/76B | €41,223 | €15,364 | -€25,859 | -62.7% |
| Recurring financial income | 75 | €41,223 | €15,364 | -€25,859 | -62.7% |
| Financial charges | 65/66B | €7,078 | €1,924 | -€5,154 | -72.8% |
| Recurring financial charges | 65 | €7,078 | €1,924 | -€5,154 | -72.8% |
| Profit (loss) for the period before taxes | 9903 | €288,108 | -€25,522 | -€313,631 | |
| Income taxes | 67/77 | €28,831 | €318 | -€28,512 | -98.9% |
| Profit (loss) for the period | 9904 | €259,278 | -€25,840 | -€285,118 | |
| Profit (loss) for the period to be appropriated | 9905 | €259,278 | -€25,840 | -€285,118 |
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 5 October 2026 via checked.be.