B2S INVEST: 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.
B2S INVEST
Largest movements
- Stocks and contracts +€308,641
up €308,641 (+772%), from €40,000 to €348,641
of which Stocks: +€308,641
- Receivables within one year -€162,992
down €162,992 (-71.4%), from €228,263 to €65,271
of which Other amounts receivable: -€98,840
- Cash -€117,895
down €117,895 (-92.4%), from €127,569 to €9,675
mainly Stocks and contracts (-€308,641) and Receivables after one year (-€109,400)
- Receivables after one year +€109,400
up €109,400 (+438%), from €25,000 to €134,400
- Tangible fixed assets -€78,524
down €78,524 (-97.0%), from €80,926 to €2,402
of which Land and buildings: -€78,910
- Short-term financial debts +€100,000
up €100,000, from €0 to €100,000
- Tax, wage and social debts -€40,232
down €40,232 (-87.4%), from €46,045 to €5,813
- Other debts -€22,345
down €22,345 (-17.2%), from €130,035 to €107,690
- Trade debts +€10,394
up €10,394 (+783%), from €1,328 to €11,722
- Reserves +€9,059
up €9,059 (+2.9%), from €307,585 to €316,644
of which Distributable reserves: +€9,059
- Gross operating margin -€217,570
down €217,570 (-84.6%), from €257,036 to €39,465
- Taxes -€48,492
down €48,492 (-90.3%), from €53,714 to €5,222
- Financial charges -€34,332
down €34,332 (-95.6%), from €35,911 to €1,579
- Depreciation -€4,505
down €4,505 (-83.2%), from €5,412 to €907
- Staff costs -€3,680
down €3,680 (-57.0%), from €6,456 to €2,776
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 | €503,593 | €560,469 | +€56,875 | +11.3% |
| Fixed assets | 21/28 | €80,966 | €2,482 | -€78,484 | -96.9% |
| Tangible fixed assets | 22/27 | €80,926 | €2,402 | -€78,524 | -97.0% |
| Land and buildings | 22 | €78,910 | €0 | -€78,910 | -100% |
| Furniture and vehicles | 24 | €2,015 | €2,402 | +€387 | +19.2% |
| Financial fixed assets | 28 | €40 | €80 | +€40 | +100% |
| Current assets | 29/58 | €422,628 | €557,987 | +€135,359 | +32.0% |
| Amounts receivable after more than one year | 29 | €25,000 | €134,400 | +€109,400 | +438% |
| Other amounts receivable | 291 | €25,000 | €134,400 | +€109,400 | +438% |
| Stocks and contracts in progress | 3 | €40,000 | €348,641 | +€308,641 | +772% |
| Stocks | 30/36 | €40,000 | €348,641 | +€308,641 | +772% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €228,263 | €65,271 | -€162,992 | -71.4% |
| Trade receivables | 40 | €94,466 | €30,314 | -€64,152 | -67.9% |
| Other amounts receivable | 41 | €133,797 | €34,957 | -€98,840 | -73.9% |
| Cash at bank and in hand | 54/58 | €127,569 | €9,675 | -€117,895 | -92.4% |
| Deferred charges and accrued income | 490/1 | €1,795 | €0 | -€1,795 | -100% |
| Total equity and liabilities | 10/49 | €503,593 | €560,469 | +€56,875 | +11.3% |
| Equity | 10/15 | €326,185 | €335,244 | +€9,059 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €307,585 | €316,644 | +€9,059 | +2.9% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €288,835 | €297,894 | +€9,059 | +3.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €177,408 | €225,225 | +€47,817 | +27.0% |
| Amounts payable within one year | 42/48 | €177,408 | €225,225 | +€47,817 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | €0 | €100,000 | +€100,000 | |
| Trade debts | 44 | €1,328 | €11,722 | +€10,394 | +783% |
| Suppliers | 440/4 | €1,328 | €11,722 | +€10,394 | +783% |
| Taxes, remuneration and social security | 45 | €46,045 | €5,813 | -€40,232 | -87.4% |
| Taxes | 450/3 | €46,045 | €5,813 | -€40,232 | -87.4% |
| Other amounts payable | 47/48 | €130,035 | €107,690 | -€22,345 | -17.2% |
| Non-recurring operating income | 76A | - | €35,961 | +€35,961 | |
| Remuneration, social security and pensions | 62 | €6,456 | €2,776 | -€3,680 | -57.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,412 | €907 | -€4,505 | -83.2% |
| Other operating charges | 640/8 | €1,381 | €1,933 | +€552 | +39.9% |
| Gross operating margin | 9900 | €257,036 | €39,465 | -€217,570 | -84.6% |
| Operating profit (loss) | 9901 | €243,787 | €33,850 | -€209,937 | -86.1% |
| Financial income | 75/76B | €3,641 | €2,010 | -€1,631 | -44.8% |
| Recurring financial income | 75 | €3,641 | €2,010 | -€1,631 | -44.8% |
| Financial charges | 65/66B | €35,911 | €1,579 | -€34,332 | -95.6% |
| Recurring financial charges | 65 | €35,911 | €1,579 | -€34,332 | -95.6% |
| Profit (loss) for the period before taxes | 9903 | €211,517 | €34,281 | -€177,236 | -83.8% |
| Income taxes | 67/77 | €53,714 | €5,222 | -€48,492 | -90.3% |
| Profit (loss) for the period | 9904 | €157,803 | €29,059 | -€128,744 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €157,803 | €29,059 | -€128,744 | -81.6% |
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 24 October 2026 via checked.be.