BIP EXPRESS: 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.
BIP EXPRESS
Largest movements
- Cash +€119,041
up €119,041 (+49.5%), from €240,260 to €359,301
mainly Receivables after one year (+€98,694) and Receivables within one year (+€70,812)
- Receivables after one year -€98,694
down €98,694 (-100.0%), from €98,694 to €0
- Receivables within one year -€70,812
down €70,812 (-14.1%), from €500,514 to €429,702
of which Trade receivables: -€75,039
- Financial fixed assets +€48,145
up €48,145 (+6.1%), from €795,745 to €843,890
- Tax, wage and social debts -€83,151
down €83,151 (-24.4%), from €340,225 to €257,075
of which Remuneration and social security: -€85,082
- Reserves +€48,279
up €48,279 (+4.3%), from €1.1m to €1.2m
of which Tax-exempt reserves: +€48,279
- Trade debts +€29,623
up €29,623 (+27.5%), from €107,912 to €137,535
- Current portion of long-term debt -€21,299
down €21,299 (-71.9%), from €29,633 to €8,333
- Advances received +€17,638
up €17,638 (+36.8%), from €47,985 to €65,623
- Staff costs +€721,388
up €721,388 (+27.9%), from €2.6m to €3.3m
- Gross operating margin +€666,132
up €666,132 (+24.5%), from €2.7m to €3.4m
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 | €1,681,797 | €1,673,023 | -€8,775 | -0.5% |
| Fixed assets | 21/28 | €836,321 | €876,789 | +€40,468 | +4.8% |
| Intangible fixed assets | 21 | €20,072 | €17,570 | -€2,503 | -12.5% |
| Tangible fixed assets | 22/27 | €20,504 | €15,329 | -€5,175 | -25.2% |
| Plant, machinery and equipment | 23 | €7,063 | €4,634 | -€2,429 | -34.4% |
| Furniture and vehicles | 24 | €6,261 | €4,330 | -€1,931 | -30.8% |
| Other tangible fixed assets | 26 | €7,180 | €6,366 | -€814 | -11.3% |
| Financial fixed assets | 28 | €795,745 | €843,890 | +€48,145 | +6.1% |
| Current assets | 29/58 | €845,476 | €796,234 | -€49,242 | -5.8% |
| Amounts receivable after more than one year | 29 | €98,694 | €0 | -€98,694 | -100.0% |
| Other amounts receivable | 291 | €98,694 | €0 | -€98,694 | -100.0% |
| Amounts receivable within one year | 40/41 | €500,514 | €429,702 | -€70,812 | -14.1% |
| Trade receivables | 40 | €298,261 | €223,223 | -€75,039 | -25.2% |
| Other amounts receivable | 41 | €202,253 | €206,480 | +€4,227 | +2.1% |
| Cash at bank and in hand | 54/58 | €240,260 | €359,301 | +€119,041 | +49.5% |
| Deferred charges and accrued income | 490/1 | €6,007 | €7,230 | +€1,223 | +20.4% |
| Total equity and liabilities | 10/49 | €1,681,797 | €1,673,023 | -€8,775 | -0.5% |
| Equity | 10/15 | €1,142,784 | €1,191,062 | +€48,279 | +4.2% |
| Contributions | 10/11 | €14,150 | €14,150 | = | 0.0% |
| Reserves | 13 | €1,128,634 | €1,176,912 | +€48,279 | +4.3% |
| Non-distributable reserves | 130/1 | €2,010 | €2,010 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,010 | €2,010 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,015,107 | €1,063,385 | +€48,279 | +4.8% |
| Distributable reserves | 133 | €111,517 | €111,517 | = | 0.0% |
| Amounts payable | 17/49 | €539,014 | €481,960 | -€57,054 | -10.6% |
| Amounts payable within one year | 42/48 | €539,014 | €481,825 | -€57,189 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €29,633 | €8,333 | -€21,299 | -71.9% |
| Trade debts | 44 | €107,912 | €137,535 | +€29,623 | +27.5% |
| Suppliers | 440/4 | €107,912 | €137,535 | +€29,623 | +27.5% |
| Advances received on contracts in progress | 46 | €47,985 | €65,623 | +€17,638 | +36.8% |
| Taxes, remuneration and social security | 45 | €340,225 | €257,075 | -€83,151 | -24.4% |
| Taxes | 450/3 | €3,453 | €5,384 | +€1,932 | +55.9% |
| Remuneration and social security | 454/9 | €336,772 | €251,690 | -€85,082 | -25.3% |
| Other amounts payable | 47/48 | €13,259 | €13,259 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €135 | +€135 | |
| Non-recurring operating income | 76A | €65,861 | €44,378 | -€21,483 | -32.6% |
| Remuneration, social security and pensions | 62 | €2,587,320 | €3,308,709 | +€721,388 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,909 | €7,677 | +€1,768 | +29.9% |
| Other operating charges | 640/8 | €2,088 | €4,014 | +€1,926 | +92.2% |
| Non-recurring operating charges | 66A | €5,387 | €6,040 | +€653 | +12.1% |
| Gross operating margin | 9900 | €2,721,436 | €3,387,568 | +€666,132 | +24.5% |
| Operating profit (loss) | 9901 | €120,731 | €61,128 | -€59,603 | -49.4% |
| Financial income | 75/76B | €4,409 | €1,503 | -€2,906 | -65.9% |
| Recurring financial income | 75 | €1,409 | €1,503 | +€94 | +6.6% |
| Non-recurring financial income | 76B | €3,000 | €0 | -€3,000 | -100.0% |
| Financial charges | 65/66B | €3,023 | €2,249 | -€774 | -25.6% |
| Recurring financial charges | 65 | €3,023 | €2,249 | -€774 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €122,117 | €60,382 | -€61,736 | -50.6% |
| Income taxes | 67/77 | €9,549 | €12,103 | +€2,554 | +26.7% |
| Profit (loss) for the period | 9904 | €112,568 | €48,279 | -€64,289 | -57.1% |
| Transfer to tax-exempt reserves | 689 | €112,568 | €48,279 | -€64,289 | -57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €0 | - | = |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.