B.S.I.: 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.I.
NACE 22.210, Manufacture of rubber and plastic products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€300,916
2024 · -€316,470+€15,554
Equity
€11.3m
2024 · €11.6m-€300,916
Cash
€184,063
2024 · €277,696-€93,633
Balance sheet total
€24.4m
2024 · €27.4m-€3.1m
Largest movements
Assets
- Financial fixed assets +€5.7m
up €5.7m (+1,340,854%), from €425 to €5.7m
of which Affiliated companies: +€5.7m
- Tangible fixed assets -€4.0m
down €4.0m (-18.8%), from €21.0m to €17.1m
of which Leasing and similar rights: -€2.1m
- Stocks and contracts -€3.1m
no longer reported in 2025 (was €3.1m)
- Receivables within one year -€1.1m
down €1.1m (-45.2%), from €2.3m to €1.3m
of which Trade receivables: -€1.1m
- Receivables after one year -€520,000
down €520,000 (-100%), from €520,000 to €0
Equity and liabilities
- Trade debts -€1.8m
down €1.8m (-80.6%), from €2.3m to €443,202
- Current portion of long-term debt -€453,080
down €453,080 (-92.6%), from €489,535 to €36,455
- Profit (loss) carried forward -€300,916
down €300,916 (-17.3%), from €1.7m to €1.4m
Income statement
- Turnover -€6.9m
down €6.9m (-41.9%), from €16.4m to €9.6m
- Goods and materials -€5.3m
down €5.3m (-58.1%), from €9.1m to €3.8m
of which Purchases: -€5.4m
- Staff costs -€900,072
down €900,072 (-52.3%), from €1.7m to €821,502
- Services and other goods -€854,494
down €854,494 (-28.6%), from €3.0m to €2.1m
- Other operating income -€439,600
down €439,600 (-78.5%), from €560,085 to €120,485
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
-€316,470
Turnover
-€6.9m
Other operating income
-€439,600
Goods and materials
+€5.3m
Services and other goods
+€854,494
Staff costs
+€900,072
Depreciation
+€162,043
Write-downs
+€306
Other operating charges
+€166,566
Other operating items
-€380,182
Financial income
-€2,507
Financial charges
+€396,588
Taxes
-€66,661
Result 2025
-€300,916
raises the resultlowers the resultnot broken down further in the accounts
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
+€4.8m
Investment
-€4.3m
Financing
-€588,563
Cash 2024
€277,696
From operations (derived)
+€4.8m
Net result for the year
-€300,916
Depreciation
+€2.6m
Receivables after one year
+€520,000
Stocks and contracts
+€3.1m
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€14,396
Trade debts
-€1.8m
Tax, wage and social debts
-€129,581
Accrued charges and deferred income
-€210,912
Investment (derived)
-€4.3m
Investment in fixed assets (net)
-€4.3m
Financing
-€588,563
Debts after one year
+€106,155
Current portion of long-term debt
-€453,080
Short-term financial debts
-€241,638
Contributions, distributions and other
+€0
Cash 2025
€184,063
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,422,974 | €24,351,774 | -€3.1m | -11.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €21,022,855 | €22,764,112 | +€1.7m | +8.3% |
| Intangible fixed assets | 21 | €30 | €0 | -€30 | -100% |
| Tangible fixed assets | 22/27 | €21,022,400 | €17,065,055 | -€4.0m | -18.8% |
| Land and buildings | 22 | €4,776,636 | €4,869,953 | +€93,317 | +2.0% |
| Plant, machinery and equipment | 23 | €979,458 | €215,931 | -€763,527 | -78.0% |
| Furniture and vehicles | 24 | €283,471 | €39,229 | -€244,242 | -86.2% |
| Leasing and similar rights | 25 | €2,080,391 | - | -€2.1m | |
| Other tangible fixed assets | 26 | €10,641,662 | €9,517,550 | -€1.1m | -10.6% |
| Assets under construction and advance payments | 27 | €2,260,782 | €2,422,393 | +€161,611 | +7.1% |
| Financial fixed assets | 28 | €425 | €5,699,057 | +€5.7m | +1,340,854% |
| Affiliated companies | 280/1 | - | €5,698,632 | +€5.7m | |
| Participating interests | 280 | - | €5,698,632 | +€5.7m | |
| Other financial fixed assets | 284/8 | €425 | €425 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €425 | €425 | = | 0.0% |
| Current assets | 29/58 | €6,400,119 | €1,587,662 | -€4.8m | -75.2% |
| Amounts receivable after more than one year | 29 | €520,000 | €0 | -€520,000 | -100% |
| Other amounts receivable | 291 | €520,000 | €0 | -€520,000 | -100% |
| Stocks and contracts in progress | 3 | €3,123,513 | - | -€3.1m | |
| Stocks | 30/36 | €3,123,513 | - | -€3.1m | |
| Raw materials and consumables | 30/31 | €1,447,022 | - | -€1.4m | |
| Finished goods | 33 | €1,494,534 | - | -€1.5m | |
| Goods purchased for resale | 34 | €181,957 | - | -€181,957 | |
| Amounts receivable within one year | 40/41 | €2,348,083 | €1,287,167 | -€1.1m | -45.2% |
| Trade receivables | 40 | €2,326,311 | €1,246,578 | -€1.1m | -46.4% |
| Other amounts receivable | 41 | €21,772 | €40,589 | +€18,817 | +86.4% |
| Cash at bank and in hand | 54/58 | €277,696 | €184,063 | -€93,633 | -33.7% |
| Deferred charges and accrued income | 490/1 | €130,827 | €116,431 | -€14,396 | -11.0% |
| Total equity and liabilities | 10/49 | €27,422,974 | €24,351,774 | -€3.1m | -11.2% |
| Equity | 10/15 | €11,602,492 | €11,301,576 | -€300,916 | -2.6% |
| Contributions | 10/11 | €9,866,802 | €9,866,802 | -€0 | 0.0% |
| Capital | 10 | €9,866,802 | €9,866,802 | -€0 | 0.0% |
| Issued capital | 100 | €9,866,802 | €9,866,802 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €1,735,690 | €1,434,774 | -€300,916 | -17.3% |
| Amounts payable | 17/49 | €15,820,482 | €13,050,198 | -€2.8m | -17.5% |
| Amounts payable after more than one year | 17 | €11,883,996 | €11,990,151 | +€106,155 | +0.9% |
| Financial debts | 170/4 | €1,488,103 | €268,669 | -€1.2m | -81.9% |
| Leasing and similar obligations | 172 | €1,488,103 | - | -€1.5m | |
| Credit institutions | 173 | - | €268,669 | +€268,669 | |
| Other amounts payable | 178/9 | €10,395,893 | €11,721,482 | +€1.3m | +12.8% |
| Amounts payable within one year | 42/48 | €3,322,032 | €656,505 | -€2.7m | -80.2% |
| Current portion of amounts payable after more than one year | 42 | €489,535 | €36,455 | -€453,080 | -92.6% |
| Financial debts | 43 | €241,638 | - | -€241,638 | |
| Credit institutions | 430/8 | €241,638 | - | -€241,638 | |
| Trade debts | 44 | €2,284,430 | €443,202 | -€1.8m | -80.6% |
| Suppliers | 440/4 | €2,284,430 | €443,202 | -€1.8m | -80.6% |
| Taxes, remuneration and social security | 45 | €306,429 | €176,848 | -€129,581 | -42.3% |
| Taxes | 450/3 | €133,505 | €96,922 | -€36,583 | -27.4% |
| Remuneration and social security | 454/9 | €172,924 | €79,926 | -€92,998 | -53.8% |
| Accrued charges and deferred income | 492/3 | €614,454 | €403,542 | -€210,912 | -34.3% |
| Operating income | 70/76A | €17,418,362 | €9,741,467 | -€7.7m | -44.1% |
| Turnover | 70 | €16,435,226 | €9,555,475 | -€6.9m | -41.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €423,051 | €65,507 | -€357,544 | -84.5% |
| Other operating income | 74 | €560,085 | €120,485 | -€439,600 | -78.5% |
| Operating charges | 60/66A | €16,969,095 | €9,604,067 | -€7.4m | -43.4% |
| Goods for resale, raw materials and consumables | 60 | €9,131,302 | €3,827,117 | -€5.3m | -58.1% |
| Purchases | 600/8 | €9,260,345 | €3,813,841 | -€5.4m | -58.8% |
| Change in stocks: decrease (increase) | 609 | -€129,043 | €13,276 | +€142,319 | |
| Services and other goods | 61 | €2,989,074 | €2,134,580 | -€854,494 | -28.6% |
| Remuneration, social security and pensions | 62 | €1,721,574 | €821,502 | -€900,072 | -52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,769,215 | €2,607,172 | -€162,043 | -5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €306 | - | -€306 | |
| Other operating charges | 640/8 | €357,624 | €191,058 | -€166,566 | -46.6% |
| Non-recurring operating charges | 66A | - | €22,638 | +€22,638 | |
| Operating profit (loss) | 9901 | €449,267 | €137,401 | -€311,866 | -69.4% |
| Financial income | 75/76B | €4,099 | €1,592 | -€2,507 | -61.2% |
| Recurring financial income | 75 | €4,099 | €1,592 | -€2,507 | -61.2% |
| Other financial income | 752/9 | €4,099 | €1,592 | -€2,507 | -61.2% |
| Financial charges | 65/66B | €836,497 | €439,909 | -€396,588 | -47.4% |
| Recurring financial charges | 65 | €836,497 | €439,909 | -€396,588 | -47.4% |
| Debt charges | 650 | €635,406 | €353,683 | -€281,723 | -44.3% |
| Other financial charges | 652/9 | €201,091 | €86,225 | -€114,866 | -57.1% |
| Profit (loss) for the period before taxes | 9903 | -€383,131 | -€300,916 | +€82,215 | +21.5% |
| Income taxes | 67/77 | -€66,661 | - | +€66,661 | |
| Taxes | 670/3 | €2,332 | - | -€2,332 | |
| Tax adjustments and reversals of tax provisions | 77 | €68,993 | - | -€68,993 | |
| Profit (loss) for the period | 9904 | -€316,470 | -€300,916 | +€15,554 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€316,470 | -€300,916 | +€15,554 | +4.9% |
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 26 October 2026 via checked.be.