BLSMU: 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.
BLSMU
Largest movements
- Cash +€107,120
up €107,120 (+139.0%), from €77,070 to €184,190
mainly Net result for the year (+€57,089) and Current investments (+€50,000)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year -€8,728
down €8,728 (-65.9%), from €13,241 to €4,513
of which Other amounts receivable: -€5,420
- Tangible fixed assets +€5,775
up €5,775 (+547.2%), from €1,055 to €6,830
of which Other tangible fixed assets: +€4,361
- Reserves +€57,089
up €57,089 (+43.8%), from €130,454 to €187,543
- Financial charges -€3,516
down €3,516 (-15.7%), from €22,446 to €18,929
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 | €160,223 | €214,708 | +€54,485 | +34.0% |
| Fixed assets | 21/28 | €1,055 | €6,830 | +€5,775 | +547.2% |
| Tangible fixed assets | 22/27 | €1,055 | €6,830 | +€5,775 | +547.2% |
| Furniture and vehicles | 24 | €1,055 | €2,469 | +€1,414 | +134.0% |
| Other tangible fixed assets | 26 | - | €4,361 | +€4,361 | |
| Current assets | 29/58 | €159,168 | €207,878 | +€48,711 | +30.6% |
| Amounts receivable within one year | 40/41 | €13,241 | €4,513 | -€8,728 | -65.9% |
| Trade receivables | 40 | €6,122 | €2,814 | -€3,308 | -54.0% |
| Other amounts receivable | 41 | €7,119 | €1,699 | -€5,420 | -76.1% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €77,070 | €184,190 | +€107,120 | +139.0% |
| Deferred charges and accrued income | 490/1 | €18,857 | €19,175 | +€318 | +1.7% |
| Total equity and liabilities | 10/49 | €160,223 | €214,708 | +€54,485 | +34.0% |
| Equity | 10/15 | €132,954 | €190,043 | +€57,089 | +42.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €130,454 | €187,543 | +€57,089 | +43.8% |
| Distributable reserves | 133 | €130,454 | €187,543 | +€57,089 | +43.8% |
| Provisions and deferred taxes | 16 | €16,108 | €16,408 | +€300 | +1.9% |
| Provisions for liabilities and charges | 160/5 | €16,108 | €16,408 | +€300 | +1.9% |
| Other liabilities and charges | 164/5 | €16,108 | €16,408 | +€300 | +1.9% |
| Amounts payable | 17/49 | €11,161 | €8,257 | -€2,904 | -26.0% |
| Amounts payable within one year | 42/48 | €11,161 | €8,257 | -€2,904 | -26.0% |
| Trade debts | 44 | €1,980 | €628 | -€1,352 | -68.3% |
| Suppliers | 440/4 | €1,980 | €628 | -€1,352 | -68.3% |
| Taxes, remuneration and social security | 45 | €2,047 | €2,045 | -€2 | -0.1% |
| Taxes | 450/3 | €2,047 | €2,045 | -€2 | -0.1% |
| Other amounts payable | 47/48 | €7,134 | €5,584 | -€1,550 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €855 | €1,483 | +€628 | +73.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €862 | €300 | -€562 | -65.2% |
| Other operating charges | 640/8 | €619 | €1,039 | +€420 | +68.0% |
| Gross operating margin | 9900 | €93,988 | €93,866 | -€122 | -0.1% |
| Operating profit (loss) | 9901 | €91,652 | €91,044 | -€608 | -0.7% |
| Financial income | 75/76B | €184 | €1,107 | +€924 | +502.8% |
| Recurring financial income | 75 | €184 | €1,107 | +€924 | +502.8% |
| Financial charges | 65/66B | €22,446 | €18,929 | -€3,516 | -15.7% |
| Recurring financial charges | 65 | €22,446 | €18,929 | -€3,516 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €69,390 | €73,222 | +€3,832 | +5.5% |
| Income taxes | 67/77 | €15,720 | €16,133 | +€413 | +2.6% |
| Profit (loss) for the period | 9904 | €53,670 | €57,089 | +€3,419 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,670 | €57,089 | +€3,419 | +6.4% |
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 3 October 2026 via checked.be.