B&S: 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.
B&S
Largest movements
- Tangible fixed assets +€97,402
up €97,402 (+276.4%), from €35,233 to €132,636
of which Furniture and vehicles: +€67,794
- Cash -€90,967
down €90,967 (-64.0%), from €142,049 to €51,082
mainly Investment in fixed assets (net) (-€128,162) and Contributions, distributions and other (-€58,824)
- Receivables within one year +€11,417
up €11,417 (+875.0%), from €1,305 to €12,722
of which Trade receivables: +€8,033
- Deferred charges and accrued income +€4,629
up €4,629 (+70.6%), from €6,554 to €11,183
- Debts after one year +€28,874
up €28,874 (+225.5%), from €12,807 to €41,681
- Reserves -€26,484
down €26,484 (-25.2%), from €105,275 to €78,791
- Current portion of long-term debt +€16,166
up €16,166 (+107.8%), from €14,992 to €31,159
- Trade debts +€4,339
up €4,339 (+119.0%), from €3,647 to €7,986
- Short-term financial debts +€3,770
new in 2025: €3,770
- Staff costs +€61,425
up €61,425 (+60.5%), from €101,511 to €162,935
- Gross operating margin +€42,991
up €42,991 (+21.5%), from €199,958 to €242,949
- Other operating charges -€7,186
down €7,186 (-54.0%), from €13,304 to €6,119
- Taxes -€3,481
down €3,481 (-31.4%), from €11,096 to €7,615
- Depreciation -€2,729
down €2,729 (-8.1%), from €33,689 to €30,960
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 | €185,345 | €207,626 | +€22,281 | +12.0% |
| Formation expenses | 20 | €203 | €3 | -€200 | -98.4% |
| Fixed assets | 21/28 | €35,233 | €132,636 | +€97,402 | +276.4% |
| Tangible fixed assets | 22/27 | €35,233 | €132,636 | +€97,402 | +276.4% |
| Land and buildings | 22 | €2,139 | €31,747 | +€29,608 | +1383.9% |
| Furniture and vehicles | 24 | €33,094 | €100,888 | +€67,794 | +204.9% |
| Current assets | 29/58 | €149,908 | €74,987 | -€74,921 | -50.0% |
| Amounts receivable within one year | 40/41 | €1,305 | €12,722 | +€11,417 | +875.0% |
| Trade receivables | 40 | €1,305 | €9,337 | +€8,033 | +615.6% |
| Other amounts receivable | 41 | - | €3,385 | +€3,385 | |
| Cash at bank and in hand | 54/58 | €142,049 | €51,082 | -€90,967 | -64.0% |
| Deferred charges and accrued income | 490/1 | €6,554 | €11,183 | +€4,629 | +70.6% |
| Total equity and liabilities | 10/49 | €185,345 | €207,626 | +€22,281 | +12.0% |
| Equity | 10/15 | €109,275 | €82,791 | -€26,484 | -24.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €105,275 | €78,791 | -€26,484 | -25.2% |
| Distributable reserves | 133 | €105,275 | €78,791 | -€26,484 | -25.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €76,070 | €124,836 | +€48,765 | +64.1% |
| Amounts payable after more than one year | 17 | €12,807 | €41,681 | +€28,874 | +225.5% |
| Financial debts | 170/4 | €12,807 | €41,681 | +€28,874 | +225.5% |
| Amounts payable within one year | 42/48 | €63,263 | €83,086 | +€19,823 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €14,992 | €31,159 | +€16,166 | +107.8% |
| Financial debts | 43 | - | €3,770 | +€3,770 | |
| Credit institutions | 430/8 | - | €3,770 | +€3,770 | |
| Trade debts | 44 | €3,647 | €7,986 | +€4,339 | +119.0% |
| Suppliers | 440/4 | €3,647 | €7,986 | +€4,339 | +119.0% |
| Advances received on contracts in progress | 46 | €2,522 | €0 | -€2,522 | -100.0% |
| Taxes, remuneration and social security | 45 | €41,299 | €37,827 | -€3,472 | -8.4% |
| Taxes | 450/3 | €22,718 | €7,809 | -€14,909 | -65.6% |
| Remuneration and social security | 454/9 | €18,580 | €30,018 | +€11,438 | +61.6% |
| Other amounts payable | 47/48 | €803 | €2,345 | +€1,542 | +191.9% |
| Accrued charges and deferred income | 492/3 | €0 | €68 | +€68 | |
| Non-recurring operating income | 76A | - | €8,678 | +€8,678 | |
| Remuneration, social security and pensions | 62 | €101,511 | €162,935 | +€61,425 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,689 | €30,960 | -€2,729 | -8.1% |
| Other operating charges | 640/8 | €13,304 | €6,119 | -€7,186 | -54.0% |
| Gross operating margin | 9900 | €199,958 | €242,949 | +€42,991 | +21.5% |
| Operating profit (loss) | 9901 | €51,454 | €42,935 | -€8,518 | -16.6% |
| Financial income | 75/76B | €86 | €23 | -€63 | -73.3% |
| Recurring financial income | 75 | €86 | €23 | -€63 | -73.3% |
| Financial charges | 65/66B | €1,920 | €3,004 | +€1,084 | +56.5% |
| Recurring financial charges | 65 | €1,920 | €3,004 | +€1,084 | +56.5% |
| Profit (loss) for the period before taxes | 9903 | €49,620 | €39,955 | -€9,666 | -19.5% |
| Income taxes | 67/77 | €11,096 | €7,615 | -€3,481 | -31.4% |
| Profit (loss) for the period | 9904 | €38,524 | €32,339 | -€6,185 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €38,524 | €32,339 | -€6,185 | -16.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.