BDH PROJECTS: 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.
BDH PROJECTS
Largest movements
- Tangible fixed assets -€11,405
down €11,405 (-29.6%), from €38,536 to €27,131
of which Leasing and similar rights: -€11,171
- Financial fixed assets +€3,000
new in 2025: €3,000
- Receivables within one year +€1,994
up €1,994 (+13.7%), from €14,595 to €16,590
of which Trade receivables: +€3,317
- Cash -€999
down €999 (-21.3%), from €4,691 to €3,692
mainly Debts after one year (-€8,501) and Investment in fixed assets (net) (-€3,000)
- Deferred charges and accrued income +€665
up €665 (+81.0%), from €820 to €1,485
- Debts after one year -€8,501
down €8,501 (-40.3%), from €21,118 to €12,617
- Profit (loss) carried forward +€1,125
up €1,125, from -€188 to €937
- Tax, wage and social debts +€906
up €906 (+7.8%), from €11,605 to €12,512
of which Remuneration and social security: +€2,976
- Trade debts -€596
down €596 (-28.4%), from €2,102 to €1,506
- Taxes +€3,029
up €3,029 (+369%), from €820 to €3,849
- Other operating charges -€1,742
down €1,742 (-50.0%), from €3,484 to €1,743
- Gross operating margin +€1,720
up €1,720 (+9.1%), from €18,977 to €20,697
- Financial charges -€418
down €418 (-18.4%), from €2,272 to €1,854
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.
Derived cash bridge
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 | €58,643 | €51,898 | -€6,746 | -11.5% |
| Fixed assets | 21/28 | €38,536 | €30,131 | -€8,405 | -21.8% |
| Tangible fixed assets | 22/27 | €38,536 | €27,131 | -€11,405 | -29.6% |
| Furniture and vehicles | 24 | €615 | €382 | -€234 | -38.0% |
| Leasing and similar rights | 25 | €37,921 | €26,750 | -€11,171 | -29.5% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €20,107 | €21,766 | +€1,660 | +8.3% |
| Amounts receivable within one year | 40/41 | €14,595 | €16,590 | +€1,994 | +13.7% |
| Trade receivables | 40 | €12,100 | €15,417 | +€3,317 | +27.4% |
| Other amounts receivable | 41 | €2,495 | €1,172 | -€1,323 | -53.0% |
| Cash at bank and in hand | 54/58 | €4,691 | €3,692 | -€999 | -21.3% |
| Deferred charges and accrued income | 490/1 | €820 | €1,485 | +€665 | +81.0% |
| Total equity and liabilities | 10/49 | €58,643 | €51,898 | -€6,746 | -11.5% |
| Equity | 10/15 | €15,637 | €16,762 | +€1,125 | +7.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,825 | €10,825 | = | 0.0% |
| Distributable reserves | 133 | €10,825 | €10,825 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€188 | €937 | +€1,125 | |
| Amounts payable | 17/49 | €43,006 | €35,135 | -€7,871 | -18.3% |
| Amounts payable after more than one year | 17 | €21,118 | €12,617 | -€8,501 | -40.3% |
| Financial debts | 170/4 | €21,118 | €12,617 | -€8,501 | -40.3% |
| Amounts payable within one year | 42/48 | €21,888 | €22,518 | +€631 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €8,181 | €8,501 | +€321 | +3.9% |
| Trade debts | 44 | €2,102 | €1,506 | -€596 | -28.4% |
| Suppliers | 440/4 | €2,102 | €1,506 | -€596 | -28.4% |
| Taxes, remuneration and social security | 45 | €11,605 | €12,512 | +€906 | +7.8% |
| Taxes | 450/3 | €11,605 | €9,535 | -€2,070 | -17.8% |
| Remuneration and social security | 454/9 | - | €2,976 | +€2,976 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,257 | €11,405 | +€148 | +1.3% |
| Other operating charges | 640/8 | €3,484 | €1,743 | -€1,742 | -50.0% |
| Non-recurring operating charges | 66A | €1,406 | €846 | -€560 | -39.8% |
| Gross operating margin | 9900 | €18,977 | €20,697 | +€1,720 | +9.1% |
| Operating profit (loss) | 9901 | €2,829 | €6,703 | +€3,874 | +137% |
| Financial income | 75/76B | €76 | €125 | +€50 | +65.8% |
| Recurring financial income | 75 | €76 | €125 | +€50 | +65.8% |
| Financial charges | 65/66B | €2,272 | €1,854 | -€418 | -18.4% |
| Recurring financial charges | 65 | €2,272 | €1,854 | -€418 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €632 | €4,974 | +€4,342 | +687% |
| Income taxes | 67/77 | €820 | €3,849 | +€3,029 | +369% |
| Profit (loss) for the period | 9904 | -€188 | €1,125 | +€1,313 | |
| Profit (loss) for the period to be appropriated | 9905 | -€188 | €1,125 | +€1,313 |
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 18 October 2026 via checked.be.