BCSE: what changed
Two fiscal 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.
BCSE
Largest movements
- Cash -€33,448
down €33,448 (-53.1%), from €62,998 to €29,550
mainly Net result for the year (-€33,461) and Trade debts (-€12,333)
- Tangible fixed assets -€6,005
down €6,005 (-66.7%), from €9,000 to €2,994
- Receivables within one year -€3,238
down €3,238 (-4.2%), from €76,221 to €72,982
of which Trade receivables: -€4,258
- Reserves -€165,708
down €165,708 (-70.3%), from €235,609 to €69,901
of which Distributable reserves: -€165,708
- Profit (loss) carried forward +€132,247
up €132,247 (+79.8%), from -€165,708 to -€33,461
- Trade debts -€12,333
down €12,333 (-69.7%), from €17,694 to €5,361
- Other debts +€2,331
up €2,331 (+5.2%), from €44,875 to €47,206
- Gross operating margin +€6,737
up €6,737 (+20.9%), from -€32,264 to -€25,528
- Other operating charges -€633
down €633 (-31.3%), from €2,023 to €1,390
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,860 | €108,527 | -€43,333 | -28.5% |
| Fixed assets | 21/28 | €9,000 | €2,994 | -€6,005 | -66.7% |
| Tangible fixed assets | 22/27 | €9,000 | €2,994 | -€6,005 | -66.7% |
| Furniture and vehicles | 24 | €9,000 | €2,994 | -€6,005 | -66.7% |
| Current assets | 29/58 | €142,861 | €105,532 | -€37,328 | -26.1% |
| Amounts receivable within one year | 40/41 | €76,221 | €72,982 | -€3,238 | -4.2% |
| Trade receivables | 40 | €44,636 | €40,378 | -€4,258 | -9.5% |
| Other amounts receivable | 41 | €31,585 | €32,605 | +€1,020 | +3.2% |
| Current investments | 50/53 | €3,000 | €3,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,998 | €29,550 | -€33,448 | -53.1% |
| Deferred charges and accrued income | 490/1 | €642 | - | -€642 | |
| Total equity and liabilities | 10/49 | €151,860 | €108,527 | -€43,333 | -28.5% |
| Equity | 10/15 | €88,493 | €55,032 | -€33,461 | -37.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €235,609 | €69,901 | -€165,708 | -70.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €216,859 | €51,151 | -€165,708 | -76.4% |
| Profit (loss) carried forward | 14 | -€165,708 | -€33,461 | +€132,247 | +79.8% |
| Amounts payable | 17/49 | €63,367 | €53,495 | -€9,872 | -15.6% |
| Amounts payable within one year | 42/48 | €63,367 | €53,495 | -€9,872 | -15.6% |
| Trade debts | 44 | €17,694 | €5,361 | -€12,333 | -69.7% |
| Suppliers | 440/4 | €17,694 | €5,361 | -€12,333 | -69.7% |
| Taxes, remuneration and social security | 45 | €798 | €928 | +€130 | +16.3% |
| Taxes | 450/3 | €798 | €928 | +€130 | +16.3% |
| Other amounts payable | 47/48 | €44,875 | €47,206 | +€2,331 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,005 | €6,005 | = | 0.0% |
| Other operating charges | 640/8 | €2,023 | €1,390 | -€633 | -31.3% |
| Gross operating margin | 9900 | -€32,264 | -€25,528 | +€6,737 | +20.9% |
| Operating profit (loss) | 9901 | -€40,293 | -€32,923 | +€7,370 | +18.3% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €252 | €67 | -€185 | -73.4% |
| Recurring financial charges | 65 | €252 | €67 | -€185 | -73.4% |
| Profit (loss) for the period before taxes | 9903 | -€40,543 | -€32,990 | +€7,553 | +18.6% |
| Income taxes | 67/77 | €343 | €471 | +€128 | +37.5% |
| Profit (loss) for the period | 9904 | -€40,886 | -€33,461 | +€7,425 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,886 | -€33,461 | +€7,425 | +18.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.