B.L.S. 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.
B.L.S. PROJECTS
Largest movements
- Receivables within one year +€11,403
up €11,403 (+63.6%), from €17,926 to €29,329
of which Trade receivables: +€5,960
- Cash -€6,610
down €6,610 (-36.9%), from €17,919 to €11,309
mainly Debts after one year (-€11,469) and Receivables within one year (-€11,403)
- Tangible fixed assets -€6,540
down €6,540 (-2.6%), from €248,237 to €241,697
of which Land and buildings: -€6,317
- Reserves +€14,206
up €14,206 (+26.2%), from €54,220 to €68,426
- Debts after one year -€11,469
down €11,469 (-6.4%), from €178,082 to €166,613
- Trade debts -€4,053
down €4,053 (-39.6%), from €10,236 to €6,183
- Gross operating margin +€6,120
up €6,120 (+17.1%), from €35,888 to €42,008
- Taxes +€2,142
up €2,142 (+44.1%), from €4,851 to €6,992
- Other operating charges -€625
down €625 (-34.0%), from €1,841 to €1,215
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 | €286,876 | €284,351 | -€2,525 | -0.9% |
| Fixed assets | 21/28 | €248,237 | €241,697 | -€6,540 | -2.6% |
| Tangible fixed assets | 22/27 | €248,237 | €241,697 | -€6,540 | -2.6% |
| Land and buildings | 22 | €230,358 | €224,041 | -€6,317 | -2.7% |
| Plant, machinery and equipment | 23 | €15,241 | €14,098 | -€1,143 | -7.5% |
| Furniture and vehicles | 24 | €2,638 | €3,558 | +€920 | +34.9% |
| Current assets | 29/58 | €38,639 | €42,654 | +€4,015 | +10.4% |
| Amounts receivable within one year | 40/41 | €17,926 | €29,329 | +€11,403 | +63.6% |
| Trade receivables | 40 | €10,115 | €16,075 | +€5,960 | +58.9% |
| Other amounts receivable | 41 | €7,811 | €13,255 | +€5,443 | +69.7% |
| Cash at bank and in hand | 54/58 | €17,919 | €11,309 | -€6,610 | -36.9% |
| Deferred charges and accrued income | 490/1 | €2,794 | €2,016 | -€778 | -27.8% |
| Total equity and liabilities | 10/49 | €286,876 | €284,351 | -€2,525 | -0.9% |
| Equity | 10/15 | €79,785 | €93,990 | +€14,206 | +17.8% |
| Contributions | 10/11 | €16,860 | €16,860 | = | 0.0% |
| Reserves | 13 | €54,220 | €68,426 | +€14,206 | +26.2% |
| Distributable reserves | 133 | €54,220 | €68,426 | +€14,206 | +26.2% |
| Profit (loss) carried forward | 14 | €8,704 | €8,704 | = | 0.0% |
| Amounts payable | 17/49 | €207,092 | €190,361 | -€16,731 | -8.1% |
| Amounts payable after more than one year | 17 | €178,082 | €166,613 | -€11,469 | -6.4% |
| Financial debts | 170/4 | €178,082 | €166,613 | -€11,469 | -6.4% |
| Amounts payable within one year | 42/48 | €29,010 | €23,748 | -€5,262 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €11,061 | €11,469 | +€408 | +3.7% |
| Trade debts | 44 | €10,236 | €6,183 | -€4,053 | -39.6% |
| Suppliers | 440/4 | €10,236 | €6,183 | -€4,053 | -39.6% |
| Taxes, remuneration and social security | 45 | €6,593 | €6,096 | -€497 | -7.5% |
| Taxes | 450/3 | €6,593 | €6,096 | -€497 | -7.5% |
| Other amounts payable | 47/48 | €1,119 | - | -€1,119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,095 | €12,370 | +€275 | +2.3% |
| Other operating charges | 640/8 | €1,841 | €1,215 | -€625 | -34.0% |
| Gross operating margin | 9900 | €35,888 | €42,008 | +€6,120 | +17.1% |
| Operating profit (loss) | 9901 | €21,952 | €28,422 | +€6,470 | +29.5% |
| Financial income | 75/76B | €76 | €203 | +€128 | +169% |
| Recurring financial income | 75 | €76 | €203 | +€128 | +169% |
| Financial charges | 65/66B | €7,817 | €7,427 | -€390 | -5.0% |
| Recurring financial charges | 65 | €7,817 | €7,427 | -€390 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €14,210 | €21,198 | +€6,988 | +49.2% |
| Income taxes | 67/77 | €4,851 | €6,992 | +€2,142 | +44.1% |
| Profit (loss) for the period | 9904 | €9,360 | €14,206 | +€4,846 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,360 | €14,206 | +€4,846 | +51.8% |
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 15 October 2026 via checked.be.