BLS GSL: 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.
BLS GSL
Largest movements
- Cash -€67,488
down €67,488 (-91.1%), from €74,111 to €6,624
mainly Trade debts (-€155,955) and Net result for the year (-€56,737)
- Receivables within one year -€55,026
down €55,026 (-48.2%), from €114,169 to €59,143
of which Trade receivables: -€41,071
- Stocks and contracts -€39,688
down €39,688 (-100%), from €39,688 to €0
- Tangible fixed assets -€36,053
down €36,053 (-76.9%), from €46,859 to €10,806
of which Furniture and vehicles: -€34,150
- Trade debts -€155,955
down €155,955 (-58.4%), from €266,966 to €111,011
- Profit (loss) carried forward -€56,737
down €56,737 (-233%), from -€24,368 to -€81,104
- Other debts +€8,726
up €8,726 (+465%), from €1,876 to €10,602
- Tax, wage and social debts +€4,081
up €4,081 (+80.5%), from €5,068 to €9,149
of which Remuneration and social security: +€6,540
- Gross operating margin -€45,894
down €45,894, from €7,122 to -€38,772
- Depreciation -€21,863
down €21,863 (-75.9%), from €28,799 to €6,937
- Other operating charges +€12,535
up €12,535 (+1,526%), from €821 to €13,357
- Financial income +€4,108
up €4,108 (+1,238%), from €332 to €4,440
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 | €278,151 | €77,447 | -€200,704 | -72.2% |
| Fixed assets | 21/28 | €46,859 | €10,806 | -€36,053 | -76.9% |
| Tangible fixed assets | 22/27 | €46,859 | €10,806 | -€36,053 | -76.9% |
| Plant, machinery and equipment | 23 | €6,508 | €4,605 | -€1,904 | -29.2% |
| Furniture and vehicles | 24 | €40,351 | €6,201 | -€34,150 | -84.6% |
| Current assets | 29/58 | €231,292 | €66,641 | -€164,651 | -71.2% |
| Stocks and contracts in progress | 3 | €39,688 | €0 | -€39,688 | -100% |
| Stocks | 30/36 | €39,688 | €0 | -€39,688 | -100% |
| Amounts receivable within one year | 40/41 | €114,169 | €59,143 | -€55,026 | -48.2% |
| Trade receivables | 40 | €97,715 | €56,644 | -€41,071 | -42.0% |
| Other amounts receivable | 41 | €16,454 | €2,499 | -€13,955 | -84.8% |
| Cash at bank and in hand | 54/58 | €74,111 | €6,624 | -€67,488 | -91.1% |
| Deferred charges and accrued income | 490/1 | €3,324 | €874 | -€2,449 | -73.7% |
| Total equity and liabilities | 10/49 | €278,151 | €77,447 | -€200,704 | -72.2% |
| Equity | 10/15 | €2,901 | -€53,835 | -€56,737 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €8,719 | €8,719 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €233 | €233 | = | 0.0% |
| Distributable reserves | 133 | €8,486 | €8,486 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,368 | -€81,104 | -€56,737 | -233% |
| Amounts payable | 17/49 | €275,250 | €131,283 | -€143,968 | -52.3% |
| Amounts payable within one year | 42/48 | €273,910 | €130,762 | -€143,148 | -52.3% |
| Trade debts | 44 | €266,966 | €111,011 | -€155,955 | -58.4% |
| Suppliers | 440/4 | €266,966 | €111,011 | -€155,955 | -58.4% |
| Taxes, remuneration and social security | 45 | €5,068 | €9,149 | +€4,081 | +80.5% |
| Taxes | 450/3 | €5,068 | €2,609 | -€2,459 | -48.5% |
| Remuneration and social security | 454/9 | €0 | €6,540 | +€6,540 | |
| Other amounts payable | 47/48 | €1,876 | €10,602 | +€8,726 | +465% |
| Accrued charges and deferred income | 492/3 | €1,341 | €521 | -€820 | -61.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,799 | €6,937 | -€21,863 | -75.9% |
| Other operating charges | 640/8 | €821 | €13,357 | +€12,535 | +1,526% |
| Gross operating margin | 9900 | €7,122 | -€38,772 | -€45,894 | |
| Operating profit (loss) | 9901 | -€22,499 | -€59,065 | -€36,566 | -163% |
| Financial income | 75/76B | €332 | €4,440 | +€4,108 | +1,238% |
| Recurring financial income | 75 | €332 | €4,440 | +€4,108 | +1,238% |
| Financial charges | 65/66B | €2,061 | €1,970 | -€91 | -4.4% |
| Recurring financial charges | 65 | €2,061 | €1,970 | -€91 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,228 | -€56,596 | -€32,367 | -134% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€24,368 | -€56,737 | -€32,369 | -133% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,368 | -€56,737 | -€32,369 | -133% |
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 16 October 2026 via checked.be.