B.S.D.: 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.D.
Largest movements
- Cash -€16,583
down €16,583 (-44.7%), from €37,102 to €20,519
mainly Contributions, distributions and other (-€31,005) and Investment in fixed assets (net) (-€11,799)
- Tangible fixed assets +€9,341
up €9,341, from €0 to €9,341
of which Other tangible fixed assets: +€9,341
- Receivables within one year -€4,076
down €4,076 (-4.7%), from €86,363 to €82,287
of which Trade receivables: -€12,237
- Reserves -€31,005
down €31,005 (-53.1%), from €58,351 to €27,346
- Other debts +€31,005
new in 2025: €31,005
- Tax, wage and social debts -€9,832
down €9,832 (-15.1%), from €65,277 to €55,445
of which Remuneration and social security: -€6,558
- Profit (loss) carried forward -€3,046
down €3,046 (-286.9%), from -€1,061 to -€4,107
- Trade debts +€1,559
up €1,559 (+80.8%), from €1,929 to €3,488
- Gross operating margin -€3,653
down €3,653 (-1.4%), from €256,819 to €253,166
- Financial charges +€3,339
up €3,339 (+332.2%), from €1,005 to €4,344
of which Non-recurring financial charges: +€3,435
- Staff costs +€3,117
up €3,117 (+1.3%), from €243,901 to €247,018
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 | €124,744 | €113,425 | -€11,319 | -9.1% |
| Fixed assets | 21/28 | €1,278 | €10,619 | +€9,341 | +730.7% |
| Tangible fixed assets | 22/27 | €0 | €9,341 | +€9,341 | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | - | €9,341 | +€9,341 | |
| Financial fixed assets | 28 | €1,278 | €1,278 | = | 0.0% |
| Current assets | 29/58 | €123,465 | €102,806 | -€20,659 | -16.7% |
| Amounts receivable within one year | 40/41 | €86,363 | €82,287 | -€4,076 | -4.7% |
| Trade receivables | 40 | €33,363 | €21,126 | -€12,237 | -36.7% |
| Other amounts receivable | 41 | €53,000 | €61,160 | +€8,160 | +15.4% |
| Cash at bank and in hand | 54/58 | €37,102 | €20,519 | -€16,583 | -44.7% |
| Total equity and liabilities | 10/49 | €124,744 | €113,425 | -€11,319 | -9.1% |
| Equity | 10/15 | €57,537 | €23,487 | -€34,051 | -59.2% |
| Contributions | 10/11 | €248 | €248 | = | 0.0% |
| Reserves | 13 | €58,351 | €27,346 | -€31,005 | -53.1% |
| Distributable reserves | 133 | €58,351 | €27,346 | -€31,005 | -53.1% |
| Profit (loss) carried forward | 14 | -€1,061 | -€4,107 | -€3,046 | -286.9% |
| Amounts payable | 17/49 | €67,206 | €89,938 | +€22,732 | +33.8% |
| Amounts payable within one year | 42/48 | €67,206 | €89,938 | +€22,732 | +33.8% |
| Trade debts | 44 | €1,929 | €3,488 | +€1,559 | +80.8% |
| Suppliers | 440/4 | €1,929 | €3,488 | +€1,559 | +80.8% |
| Taxes, remuneration and social security | 45 | €65,277 | €55,445 | -€9,832 | -15.1% |
| Taxes | 450/3 | €16,037 | €12,763 | -€3,274 | -20.4% |
| Remuneration and social security | 454/9 | €49,241 | €42,682 | -€6,558 | -13.3% |
| Other amounts payable | 47/48 | - | €31,005 | +€31,005 | |
| Remuneration, social security and pensions | 62 | €243,901 | €247,018 | +€3,117 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,458 | +€2,458 | |
| Other operating charges | 640/8 | €1,258 | €928 | -€330 | -26.2% |
| Gross operating margin | 9900 | €256,819 | €253,166 | -€3,653 | -1.4% |
| Operating profit (loss) | 9901 | €11,660 | €2,762 | -€8,898 | -76.3% |
| Financial income | 75/76B | €25 | €1,285 | +€1,261 | +5127.4% |
| Recurring financial income | 75 | €25 | €46 | +€21 | +87.4% |
| Non-recurring financial income | 76B | - | €1,239 | +€1,239 | |
| Financial charges | 65/66B | €1,005 | €4,344 | +€3,339 | +332.2% |
| Recurring financial charges | 65 | €672 | €577 | -€95 | -14.2% |
| Non-recurring financial charges | 66B | €333 | €3,767 | +€3,435 | +1032.4% |
| Profit (loss) for the period before taxes | 9903 | €10,679 | -€297 | -€10,976 | |
| Income taxes | 67/77 | €4,757 | €2,749 | -€2,008 | -42.2% |
| Profit (loss) for the period | 9904 | €5,922 | -€3,046 | -€8,968 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,922 | -€3,046 | -€8,968 |
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 8 October 2026 via checked.be.