If you had a '32 parts catalog to go along with your truck, you might be less confused as all of parts unique to '32 131 1/2" and 154" wheelbase trucks carry a BB part number prefix.
Perhaps the confusion arises as Ford changed the prefix stamped on its four-cylinder engine bell housings produced during 1932 from AB to simply B for those engines destined for passenger cars and commercial vehicles and from AAB to BB for those engines destined for big trucks. According to the engine log of the Dearborn Engine Plant, the last four-cylinder engine to be stamped with either a AB or AAB prefix was #5062386 with all those that followed stamped with B or BB prefix (the engines were stamped sequentially as they were produced whether or not they had an AB, AAB, B, or BB prefix). In any event, so-called BB trucks were produced throughout the 1932 model year.
However, the V8 engine was only released for use in big trucks late in the '32 model year so the vast majority of BB trucks produced worldwide had four-cylinder engines. (In fact, according to the records in Ford's archives, only 3,682 of the 74,978 '32 model trucks produced were built with V8 engines.)
So your surviving V8 truck is pretty rare. There's a problem with the engine number you cite, however, as if it is accurate, it is the number of an engine produced in June, 1934. There are several possibilities that might explain that disparity. If the truck is of U.S. manufacture, it likely had a rebuilt engine installed some time in its life prior to your ownership and where that was done required that the number on the frame (and title) be changed to that of the engine that was installed as the replacement. However, that's bit of a long shot as Ford numbered the transmission cases and not the engine block. The other possibility, with even longer odds, is that it was build overseas where in some countries Ford was still producing '32 model year vehicles well beyond the end of '32 model year production in January, 1933 in the U.S..
The last '32 V8 engine produced had the number #208787 plus or minus 11, which is a long way from #1017925.
As deuce lover suggests, some photos would be very helpful, including of the engine block where the drain ***** are located low on the sides of the front of the cylinder block.