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
- Stocks and contracts -€6,876
down €6,876 (-10.0%), from €69,022 to €62,146
- Cash +€5,306
up €5,306 (+3.9%), from €136,619 to €141,925
mainly Depreciation (+€23,470) and Other debts (+€8,742)
- Receivables within one year -€4,331
down €4,331 (-4.7%), from €93,059 to €88,728
of which Trade receivables: -€10,693
- Tangible fixed assets -€3,722
down €3,722 (-8.3%), from €44,850 to €41,128
of which Furniture and vehicles: -€15,234
- Other debts +€8,742
up €8,742 (+6.6%), from €132,224 to €140,966
- Current portion of long-term debt -€8,001
down €8,001 (-57.6%), from €13,892 to €5,891
- Tax, wage and social debts -€5,924
down €5,924 (-63.5%), from €9,323 to €3,399
- Debts after one year -€4,708
no longer reported in 2025 (was €4,708)
- Trade debts -€3,624
down €3,624 (-52.5%), from €6,901 to €3,277
- Gross operating margin -€30,154
down €30,154 (-40.6%), from €74,204 to €44,050
- Taxes -€11,190
down €11,190 (-90.1%), from €12,424 to €1,234
- Depreciation +€5,181
up €5,181 (+28.3%), from €18,288 to €23,470
- Financial income +€861
up €861 (+53.3%), from €1,614 to €2,475
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 | €345,707 | €335,401 | -€10,307 | -3.0% |
| Fixed assets | 21/28 | €45,475 | €41,128 | -€4,347 | -9.6% |
| Tangible fixed assets | 22/27 | €44,850 | €41,128 | -€3,722 | -8.3% |
| Furniture and vehicles | 24 | €42,096 | €26,863 | -€15,234 | -36.2% |
| Other tangible fixed assets | 26 | €2,753 | €14,265 | +€11,512 | +418.1% |
| Financial fixed assets | 28 | €625 | - | -€625 | |
| Current assets | 29/58 | €300,232 | €294,273 | -€5,960 | -2.0% |
| Stocks and contracts in progress | 3 | €69,022 | €62,146 | -€6,876 | -10.0% |
| Stocks | 30/36 | €69,022 | €62,146 | -€6,876 | -10.0% |
| Amounts receivable within one year | 40/41 | €93,059 | €88,728 | -€4,331 | -4.7% |
| Trade receivables | 40 | €91,570 | €80,877 | -€10,693 | -11.7% |
| Other amounts receivable | 41 | €1,489 | €7,852 | +€6,362 | +427.2% |
| Cash at bank and in hand | 54/58 | €136,619 | €141,925 | +€5,306 | +3.9% |
| Deferred charges and accrued income | 490/1 | €1,533 | €1,473 | -€59 | -3.9% |
| Total equity and liabilities | 10/49 | €345,707 | €335,401 | -€10,307 | -3.0% |
| Equity | 10/15 | €178,659 | €181,868 | +€3,208 | +1.8% |
| Contributions | 10/11 | €12,550 | €12,550 | = | 0.0% |
| Reserves | 13 | €184,611 | €188,111 | +€3,500 | +1.9% |
| Distributable reserves | 133 | €184,611 | €188,111 | +€3,500 | +1.9% |
| Profit (loss) carried forward | 14 | -€18,502 | -€18,793 | -€292 | -1.6% |
| Amounts payable | 17/49 | €167,048 | €153,533 | -€13,515 | -8.1% |
| Amounts payable after more than one year | 17 | €4,708 | - | -€4,708 | |
| Financial debts | 170/4 | €4,708 | - | -€4,708 | |
| Amounts payable within one year | 42/48 | €162,340 | €153,533 | -€8,807 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €13,892 | €5,891 | -€8,001 | -57.6% |
| Trade debts | 44 | €6,901 | €3,277 | -€3,624 | -52.5% |
| Suppliers | 440/4 | €6,901 | €3,277 | -€3,624 | -52.5% |
| Taxes, remuneration and social security | 45 | €9,323 | €3,399 | -€5,924 | -63.5% |
| Taxes | 450/3 | €9,323 | €3,399 | -€5,924 | -63.5% |
| Other amounts payable | 47/48 | €132,224 | €140,966 | +€8,742 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,288 | €23,470 | +€5,181 | +28.3% |
| Other operating charges | 640/8 | €843 | €719 | -€124 | -14.7% |
| Gross operating margin | 9900 | €74,204 | €44,050 | -€30,154 | -40.6% |
| Operating profit (loss) | 9901 | €55,073 | €19,861 | -€35,211 | -63.9% |
| Financial income | 75/76B | €1,614 | €2,475 | +€861 | +53.3% |
| Recurring financial income | 75 | €1,614 | €2,475 | +€861 | +53.3% |
| Financial charges | 65/66B | €18,316 | €17,894 | -€422 | -2.3% |
| Recurring financial charges | 65 | €18,316 | €17,894 | -€422 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €38,371 | €4,442 | -€33,928 | -88.4% |
| Income taxes | 67/77 | €12,424 | €1,234 | -€11,190 | -90.1% |
| Profit (loss) for the period | 9904 | €25,947 | €3,208 | -€22,738 | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,947 | €3,208 | -€22,738 | -87.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.