B2SP: 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.
B2SP
Largest movements
- Receivables within one year +€59,842
up €59,842 (+88.5%), from €67,634 to €127,476
of which Trade receivables: +€62,658
- Cash -€49,530
down €49,530 (-12.2%), from €407,569 to €358,039
mainly Contributions, distributions and other (-€80,783) and Investment in fixed assets (net) (-€60,670)
- Tangible fixed assets +€7,258
up €7,258 (+3.7%), from €197,183 to €204,441
of which Furniture and vehicles: +€23,634
- Reserves +€18,371
up €18,371 (+2.8%), from €649,017 to €667,388
- Gross operating margin +€52,165
up €52,165 (+37.9%), from €137,804 to €189,969
- Taxes +€15,883
up €15,883 (+64.0%), from €24,825 to €40,708
- Depreciation +€3,333
up €3,333 (+6.7%), from €50,078 to €53,412
- Financial income +€1,907
up €1,907 (+60.0%), from €3,179 to €5,086
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 | €676,571 | €690,857 | +€14,286 | +2.1% |
| Fixed assets | 21/28 | €197,183 | €204,441 | +€7,258 | +3.7% |
| Tangible fixed assets | 22/27 | €197,183 | €204,441 | +€7,258 | +3.7% |
| Land and buildings | 22 | €149,033 | €129,688 | -€19,345 | -13.0% |
| Plant, machinery and equipment | 23 | €5,181 | €8,149 | +€2,969 | +57.3% |
| Furniture and vehicles | 24 | €42,970 | €66,603 | +€23,634 | +55.0% |
| Current assets | 29/58 | €479,389 | €486,417 | +€7,028 | +1.5% |
| Amounts receivable within one year | 40/41 | €67,634 | €127,476 | +€59,842 | +88.5% |
| Trade receivables | 40 | €63,158 | €125,816 | +€62,658 | +99.2% |
| Other amounts receivable | 41 | €4,477 | €1,660 | -€2,816 | -62.9% |
| Cash at bank and in hand | 54/58 | €407,569 | €358,039 | -€49,530 | -12.2% |
| Deferred charges and accrued income | 490/1 | €4,185 | €902 | -€3,284 | -78.5% |
| Total equity and liabilities | 10/49 | €676,571 | €690,857 | +€14,286 | +2.1% |
| Equity | 10/15 | €661,417 | €679,788 | +€18,371 | +2.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €649,017 | €667,388 | +€18,371 | +2.8% |
| Distributable reserves | 133 | €649,017 | €667,388 | +€18,371 | +2.8% |
| Amounts payable | 17/49 | €15,154 | €11,069 | -€4,085 | -27.0% |
| Amounts payable within one year | 42/48 | €15,154 | €11,069 | -€4,085 | -27.0% |
| Trade debts | 44 | €3,777 | €1,092 | -€2,685 | -71.1% |
| Suppliers | 440/4 | €3,777 | €1,092 | -€2,685 | -71.1% |
| Taxes, remuneration and social security | 45 | €11,377 | €9,977 | -€1,400 | -12.3% |
| Taxes | 450/3 | €11,377 | €9,977 | -€1,400 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,078 | €53,412 | +€3,333 | +6.7% |
| Other operating charges | 640/8 | €1,052 | €1,133 | +€81 | +7.7% |
| Gross operating margin | 9900 | €137,804 | €189,969 | +€52,165 | +37.9% |
| Operating profit (loss) | 9901 | €86,674 | €135,424 | +€48,750 | +56.2% |
| Financial income | 75/76B | €3,179 | €5,086 | +€1,907 | +60.0% |
| Recurring financial income | 75 | €3,179 | €5,086 | +€1,907 | +60.0% |
| Financial charges | 65/66B | €451 | €647 | +€196 | +43.4% |
| Recurring financial charges | 65 | €451 | €647 | +€196 | +43.4% |
| Profit (loss) for the period before taxes | 9903 | €89,401 | €139,862 | +€50,461 | +56.4% |
| Income taxes | 67/77 | €24,825 | €40,708 | +€15,883 | +64.0% |
| Profit (loss) for the period | 9904 | €64,576 | €99,154 | +€34,578 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €64,576 | €99,154 | +€34,578 | +53.5% |
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 12 October 2026 via checked.be.