B.S.D. Trade: 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.
What changed
B.S.D. Trade
NACE 46.190, Agents in non-specialised wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€47,282
2024 · €130,606-€83,323
Equity
€2.2m
2024 · €2.2m+€47,282
Cash
€329,291
2024 · €328,470+€820
Balance sheet total
€8.6m
2024 · €12.4m-€3.8m
Largest movements
Assets
- Receivables within one year -€3.3m
down €3.3m (-77.2%), from €4.3m to €978,491
of which Trade receivables: -€3.4m
- Receivables after one year -€428,965
down €428,965 (-42.9%), from €1.0m to €571,035
Equity and liabilities
- Trade debts -€3.8m
down €3.8m (-38.6%), from €9.8m to €6.0m
Income statement
- Other operating charges +€2.3m
up €2.3m (+9,533%), from €24,074 to €2.3m
- Gross operating margin +€1.6m
up €1.6m (+205%), from €777,338 to €2.4m
- Financial charges -€333,068
down €333,068 (-75.3%), from €442,221 to €109,154
- Financial income +€222,205
up €222,205 (+46.3%), from €479,523 to €701,728
- Taxes -€32,547
down €32,547 (-59.4%), from €54,790 to €22,243
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.
Result 2024
€130,606
Gross operating margin
+€1.6m
Staff costs
+€30,614
Depreciation
-€3,203
Other operating charges
-€2.3m
Financial income
+€222,205
Financial charges
+€333,068
Taxes
+€32,547
Result 2025
€47,282
raises the resultlowers the result
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.
From operations
+€126,682
Investment
-€51,918
Financing
-€73,943
Cash 2024
€328,470
From operations (derived)
+€126,682
Net result for the year
+€47,282
Depreciation
+€38,952
Receivables after one year
+€428,965
Stocks and contracts
+€98,214
Receivables within one year
+€3.3m
Deferred charges and accrued income
+€15,000
Trade debts
-€3.8m
Tax, wage and social debts
-€17,962
Other debts
-€33,687
Investment (derived)
-€51,918
Investment in fixed assets (net)
-€51,918
Financing
-€73,943
Debts after one year
-€64,816
Current portion of long-term debt
-€9,127
Cash 2025
€329,291
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,408,241 | €8,563,369 | -€3.8m | -31.0% |
| Fixed assets | 21/28 | €79,457 | €92,423 | +€12,966 | +16.3% |
| Tangible fixed assets | 22/27 | €64,788 | €77,754 | +€12,966 | +20.0% |
| Plant, machinery and equipment | 23 | €11,413 | €7,953 | -€3,460 | -30.3% |
| Furniture and vehicles | 24 | €34,418 | €56,630 | +€22,212 | +64.5% |
| Other tangible fixed assets | 26 | €18,957 | €13,171 | -€5,786 | -30.5% |
| Financial fixed assets | 28 | €14,669 | €14,669 | = | 0.0% |
| Current assets | 29/58 | €12,328,784 | €8,470,946 | -€3.9m | -31.3% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €571,035 | -€428,965 | -42.9% |
| Other amounts receivable | 291 | €1,000,000 | €571,035 | -€428,965 | -42.9% |
| Stocks and contracts in progress | 3 | €6,690,343 | €6,592,129 | -€98,214 | -1.5% |
| Stocks | 30/36 | €6,690,343 | €6,592,129 | -€98,214 | -1.5% |
| Amounts receivable within one year | 40/41 | €4,294,970 | €978,491 | -€3.3m | -77.2% |
| Trade receivables | 40 | €4,157,093 | €729,445 | -€3.4m | -82.5% |
| Other amounts receivable | 41 | €137,877 | €249,046 | +€111,169 | +80.6% |
| Cash at bank and in hand | 54/58 | €328,470 | €329,291 | +€820 | +0.2% |
| Deferred charges and accrued income | 490/1 | €15,000 | €0 | -€15,000 | -100% |
| Total equity and liabilities | 10/49 | €12,408,241 | €8,563,369 | -€3.8m | -31.0% |
| Equity | 10/15 | €2,186,307 | €2,233,589 | +€47,282 | +2.2% |
| Contributions | 10/11 | €43,900 | €43,900 | = | 0.0% |
| Reserves | 13 | €2,141,790 | €2,189,590 | +€47,800 | +2.2% |
| Distributable reserves | 133 | €2,141,790 | €2,189,590 | +€47,800 | +2.2% |
| Profit (loss) carried forward | 14 | €617 | €99 | -€518 | -83.9% |
| Amounts payable | 17/49 | €10,221,934 | €6,329,779 | -€3.9m | -38.1% |
| Amounts payable after more than one year | 17 | €106,361 | €41,545 | -€64,816 | -60.9% |
| Financial debts | 170/4 | €106,361 | €41,545 | -€64,816 | -60.9% |
| Amounts payable within one year | 42/48 | €10,115,573 | €6,288,235 | -€3.8m | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €73,943 | €64,816 | -€9,127 | -12.3% |
| Trade debts | 44 | €9,766,916 | €6,000,353 | -€3.8m | -38.6% |
| Suppliers | 440/4 | €9,766,916 | €6,000,353 | -€3.8m | -38.6% |
| Taxes, remuneration and social security | 45 | €241,027 | €223,065 | -€17,962 | -7.5% |
| Taxes | 450/3 | €148,646 | €102,564 | -€46,081 | -31.0% |
| Remuneration and social security | 454/9 | €92,381 | €120,501 | +€28,120 | +30.4% |
| Other amounts payable | 47/48 | €33,687 | €0 | -€33,687 | -100% |
| Remuneration, social security and pensions | 62 | €569,422 | €538,808 | -€30,614 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,749 | €38,952 | +€3,203 | +9.0% |
| Other operating charges | 640/8 | €24,074 | €2,319,035 | +€2.3m | +9,533% |
| Gross operating margin | 9900 | €777,338 | €2,373,747 | +€1.6m | +205% |
| Operating profit (loss) | 9901 | €148,093 | -€523,049 | -€671,142 | |
| Financial income | 75/76B | €479,523 | €701,728 | +€222,205 | +46.3% |
| Recurring financial income | 75 | €479,523 | €701,728 | +€222,205 | +46.3% |
| Financial charges | 65/66B | €442,221 | €109,154 | -€333,068 | -75.3% |
| Recurring financial charges | 65 | €442,221 | €109,154 | -€333,068 | -75.3% |
| Profit (loss) for the period before taxes | 9903 | €185,395 | €69,526 | -€115,870 | -62.5% |
| Income taxes | 67/77 | €54,790 | €22,243 | -€32,547 | -59.4% |
| Profit (loss) for the period | 9904 | €130,606 | €47,282 | -€83,323 | -63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €130,606 | €47,282 | -€83,323 | -63.8% |
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 31 October 2026 via checked.be.