BO-STEEL: what changed
BO-STEEL
Largest movements
- Stocks and contracts -€112,571
down €112,571 (-87.8%), from €128,246 to €15,675
- Receivables within one year -€14,313
down €14,313 (-5.5%), from €258,701 to €244,388
of which Trade receivables: -€9,356
- Cash -€14,155
down €14,155 (-3.1%), from €451,366 to €437,210
mainly Contributions, distributions and other (-€131,579) and Net result for the year (-€58,882)
- Receivables after one year -€12,524
down €12,524 (-100%), from €12,524 to €0
- Tangible fixed assets -€11,919
down €11,919 (-36.8%), from €32,383 to €20,464
- Reserves -€131,579
down €131,579 (-22.0%), from €597,959 to €466,380
of which Distributable reserves: -€131,579
- Profit (loss) carried forward -€58,882
down €58,882, from €39,598 to -€19,285
- Trade debts +€24,122
up €24,122 (+32.7%), from €73,786 to €97,907
- Gross operating margin -€55,447
down €55,447, from €15,991 to -€39,455
- Financial income -€895
down €895 (-24.8%), from €3,603 to €2,708
- Taxes -€879
down €879 (-85.7%), from €1,026 to €146
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €888,605 | €719,402 | -€169,203 | -19.0% |
| Fixed assets | 21/28 | €32,383 | €20,464 | -€11,919 | -36.8% |
| Tangible fixed assets | 22/27 | €32,383 | €20,464 | -€11,919 | -36.8% |
| Furniture and vehicles | 24 | €32,383 | €20,464 | -€11,919 | -36.8% |
| Current assets | 29/58 | €856,222 | €698,938 | -€157,284 | -18.4% |
| Amounts receivable after more than one year | 29 | €12,524 | €0 | -€12,524 | -100% |
| Other amounts receivable | 291 | €12,524 | €0 | -€12,524 | -100% |
| Stocks and contracts in progress | 3 | €128,246 | €15,675 | -€112,571 | -87.8% |
| Stocks | 30/36 | €128,246 | €15,675 | -€112,571 | -87.8% |
| Amounts receivable within one year | 40/41 | €258,701 | €244,388 | -€14,313 | -5.5% |
| Trade receivables | 40 | €188,239 | €178,883 | -€9,356 | -5.0% |
| Other amounts receivable | 41 | €70,462 | €65,505 | -€4,957 | -7.0% |
| Cash at bank and in hand | 54/58 | €451,366 | €437,210 | -€14,155 | -3.1% |
| Deferred charges and accrued income | 490/1 | €5,385 | €1,664 | -€3,721 | -69.1% |
| Total equity and liabilities | 10/49 | €888,605 | €719,402 | -€169,203 | -19.0% |
| Equity | 10/15 | €726,157 | €535,696 | -€190,461 | -26.2% |
| Contributions | 10/11 | €88,600 | €88,600 | = | 0.0% |
| Reserves | 13 | €597,959 | €466,380 | -€131,579 | -22.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €597,959 | €466,380 | -€131,579 | -22.0% |
| Profit (loss) carried forward | 14 | €39,598 | -€19,285 | -€58,882 | |
| Amounts payable | 17/49 | €162,448 | €183,706 | +€21,258 | +13.1% |
| Amounts payable after more than one year | 17 | €83,451 | €83,451 | = | 0.0% |
| Financial debts | 170/4 | €83,451 | €83,451 | = | 0.0% |
| Amounts payable within one year | 42/48 | €77,657 | €98,915 | +€21,258 | +27.4% |
| Financial debts | 43 | €1,317 | €386 | -€930 | -70.7% |
| Credit institutions | 430/8 | €1,317 | €386 | -€930 | -70.7% |
| Trade debts | 44 | €73,786 | €97,907 | +€24,122 | +32.7% |
| Suppliers | 440/4 | €73,786 | €97,907 | +€24,122 | +32.7% |
| Advances received on contracts in progress | 46 | €1,933 | €0 | -€1,933 | -100% |
| Taxes, remuneration and social security | 45 | €622 | €622 | = | 0.0% |
| Taxes | 450/3 | €622 | €622 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,340 | €1,340 | = | 0.0% |
| Non-recurring operating income | 76A | - | €366 | +€366 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,764 | €12,709 | -€55 | -0.4% |
| Other operating charges | 640/8 | €823 | €1,213 | +€391 | +47.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €15,991 | -€39,455 | -€55,447 | |
| Operating profit (loss) | 9901 | €2,404 | -€53,378 | -€55,782 | |
| Financial income | 75/76B | €3,603 | €2,708 | -€895 | -24.8% |
| Recurring financial income | 75 | €3,603 | €2,708 | -€895 | -24.8% |
| Financial charges | 65/66B | €7,712 | €8,066 | +€354 | +4.6% |
| Recurring financial charges | 65 | €7,712 | €8,066 | +€354 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,704 | -€58,736 | -€57,032 | -3,347% |
| Income taxes | 67/77 | €1,026 | €146 | -€879 | -85.7% |
| Profit (loss) for the period | 9904 | -€2,730 | -€58,882 | -€56,152 | -2,057% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,730 | -€58,882 | -€56,152 | -2,057% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.