B.S. & S.: 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.
B.S. & S.
Largest movements
- Cash -€251,240
down €251,240 (-82.4%), from €304,730 to €53,490
mainly Current investments (-€250,000) and Contributions, distributions and other (-€50,424)
- Current investments +€250,000
up €250,000, from €0 to €250,000
- Tangible fixed assets -€16,419
down €16,419 (-12.9%), from €127,566 to €111,148
of which Plant, machinery and equipment: -€10,478
- Reserves -€28,812
down €28,812 (-6.8%), from €425,621 to €396,809
- Trade debts +€10,176
up €10,176 (+71.9%), from €14,160 to €24,336
- Gross operating margin -€60,757
down €60,757 (-46.0%), from €132,134 to €71,377
- Taxes -€20,738
down €20,738 (-64.5%), from €32,138 to €11,400
- Financial income -€6,493
down €6,493 (-74.8%), from €8,677 to €2,184
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €466,704 | €446,425 | -€20,279 | -4.3% |
| Fixed assets | 21/28 | €127,566 | €111,148 | -€16,419 | -12.9% |
| Tangible fixed assets | 22/27 | €127,566 | €111,148 | -€16,419 | -12.9% |
| Land and buildings | 22 | €71,159 | €65,218 | -€5,941 | -8.3% |
| Plant, machinery and equipment | 23 | €56,407 | €45,929 | -€10,478 | -18.6% |
| Current assets | 29/58 | €339,138 | €335,277 | -€3,861 | -1.1% |
| Amounts receivable within one year | 40/41 | €34,408 | €31,787 | -€2,620 | -7.6% |
| Trade receivables | 40 | €34,408 | €21,386 | -€13,022 | -37.8% |
| Other amounts receivable | 41 | €0 | €10,401 | +€10,401 | |
| Current investments | 50/53 | €0 | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €304,730 | €53,490 | -€251,240 | -82.4% |
| Total equity and liabilities | 10/49 | €466,704 | €446,425 | -€20,279 | -4.3% |
| Equity | 10/15 | €445,621 | €416,809 | -€28,812 | -6.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €425,621 | €396,809 | -€28,812 | -6.8% |
| Distributable reserves | 133 | €425,621 | €396,809 | -€28,812 | -6.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,083 | €29,616 | +€8,533 | +40.5% |
| Amounts payable within one year | 42/48 | €21,083 | €29,616 | +€8,533 | +40.5% |
| Trade debts | 44 | €14,160 | €24,336 | +€10,176 | +71.9% |
| Suppliers | 440/4 | €14,160 | €24,336 | +€10,176 | +71.9% |
| Taxes, remuneration and social security | 45 | €6,924 | €5,280 | -€1,644 | -23.7% |
| Taxes | 450/3 | €6,924 | €5,280 | -€1,644 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,796 | €33,419 | +€622 | +1.9% |
| Other operating charges | 640/8 | €6,290 | €6,868 | +€578 | +9.2% |
| Gross operating margin | 9900 | €132,134 | €71,377 | -€60,757 | -46.0% |
| Operating profit (loss) | 9901 | €93,048 | €31,090 | -€61,958 | -66.6% |
| Financial income | 75/76B | €8,677 | €2,184 | -€6,493 | -74.8% |
| Recurring financial income | 75 | €8,677 | €2,184 | -€6,493 | -74.8% |
| Financial charges | 65/66B | €226 | €263 | +€37 | +16.4% |
| Recurring financial charges | 65 | €226 | €263 | +€37 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €101,499 | €33,012 | -€68,487 | -67.5% |
| Income taxes | 67/77 | €32,138 | €11,400 | -€20,738 | -64.5% |
| Profit (loss) for the period | 9904 | €69,361 | €21,612 | -€47,749 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,361 | €21,612 | -€47,749 | -68.8% |
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 20 October 2026 via checked.be.