BLS: 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.
BLS
Largest movements
- Tangible fixed assets -€66,230
down €66,230 (-5.3%), from €1.2m to €1.2m
of which Land and buildings: -€57,930
- Cash -€55,962
down €55,962 (-64.4%), from €86,932 to €30,971
mainly Debts after one year (-€140,619) and Accrued charges and deferred income (-€30,604)
- Debts after one year -€140,619
down €140,619 (-17.2%), from €816,539 to €675,919
of which Other amounts payable: -€115,000
- Reserves +€50,650
new in 2025: €50,650
- Accrued charges and deferred income -€30,604
down €30,604 (-93.1%), from €32,855 to €2,251
- Tax, wage and social debts +€18,903
new in 2025: €18,903
- Other debts -€15,313
no longer reported in 2025 (was €15,313)
- Financial charges -€33,748
down €33,748 (-84.5%), from €39,920 to €6,172
- Taxes +€17,945
new in 2025: €17,945
- Gross operating margin +€13,392
up €13,392 (+9.1%), from €146,833 to €160,225
- Other operating charges +€7,460
up €7,460 (+66.8%), from €11,173 to €18,632
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 | €1,338,589 | €1,226,901 | -€111,688 | -8.3% |
| Fixed assets | 21/28 | €1,238,225 | €1,171,995 | -€66,230 | -5.3% |
| Tangible fixed assets | 22/27 | €1,238,225 | €1,171,995 | -€66,230 | -5.3% |
| Land and buildings | 22 | €1,218,580 | €1,160,650 | -€57,930 | -4.8% |
| Furniture and vehicles | 24 | €5,184 | - | -€5,184 | |
| Other tangible fixed assets | 26 | €14,461 | €11,345 | -€3,115 | -21.5% |
| Current assets | 29/58 | €100,365 | €54,906 | -€45,459 | -45.3% |
| Amounts receivable within one year | 40/41 | €10,118 | €20,577 | +€10,459 | +103.4% |
| Trade receivables | 40 | €9,813 | €18,323 | +€8,510 | +86.7% |
| Other amounts receivable | 41 | €305 | €2,254 | +€1,949 | +639.8% |
| Cash at bank and in hand | 54/58 | €86,932 | €30,971 | -€55,962 | -64.4% |
| Deferred charges and accrued income | 490/1 | €3,315 | €3,359 | +€44 | +1.3% |
| Total equity and liabilities | 10/49 | €1,338,589 | €1,226,901 | -€111,688 | -8.3% |
| Equity | 10/15 | €444,219 | €500,650 | +€56,430 | +12.7% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | - | €50,650 | +€50,650 | |
| Distributable reserves | 133 | - | €50,650 | +€50,650 | |
| Profit (loss) carried forward | 14 | -€5,781 | - | +€5,781 | |
| Amounts payable | 17/49 | €894,370 | €726,252 | -€168,119 | -18.8% |
| Amounts payable after more than one year | 17 | €816,539 | €675,919 | -€140,619 | -17.2% |
| Financial debts | 170/4 | €251,539 | €225,919 | -€25,619 | -10.2% |
| Other amounts payable | 178/9 | €565,000 | €450,000 | -€115,000 | -20.4% |
| Amounts payable within one year | 42/48 | €44,976 | €48,081 | +€3,105 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €25,078 | €21,957 | -€3,121 | -12.4% |
| Trade debts | 44 | €4,586 | €7,222 | +€2,636 | +57.5% |
| Suppliers | 440/4 | €4,586 | €7,222 | +€2,636 | +57.5% |
| Taxes, remuneration and social security | 45 | - | €18,903 | +€18,903 | |
| Taxes | 450/3 | - | €18,903 | +€18,903 | |
| Other amounts payable | 47/48 | €15,313 | - | -€15,313 | |
| Accrued charges and deferred income | 492/3 | €32,855 | €2,251 | -€30,604 | -93.1% |
| Non-recurring operating income | 76A | - | €140 | +€140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,186 | €61,046 | -€140 | -0.2% |
| Other operating charges | 640/8 | €11,173 | €18,632 | +€7,460 | +66.8% |
| Gross operating margin | 9900 | €146,833 | €160,225 | +€13,392 | +9.1% |
| Operating profit (loss) | 9901 | €74,475 | €80,547 | +€6,072 | +8.2% |
| Financial charges | 65/66B | €39,920 | €6,172 | -€33,748 | -84.5% |
| Recurring financial charges | 65 | €39,920 | €6,172 | -€33,748 | -84.5% |
| Profit (loss) for the period before taxes | 9903 | €34,555 | €74,375 | +€39,820 | +115.2% |
| Income taxes | 67/77 | - | €17,945 | +€17,945 | |
| Profit (loss) for the period | 9904 | €34,555 | €56,430 | +€21,875 | +63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,555 | €56,430 | +€21,875 | +63.3% |
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 29 September 2026 via checked.be.