BPS Estates: 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.
BPS Estates
Largest movements
- Stocks and contracts -€2.2m
down €2.2m (-22.1%), from €9.9m to €7.8m
- Cash +€186,578
up €186,578 (+261%), from €71,465 to €258,043
mainly Stocks and contracts (+€2.2m) and Depreciation (+€22,948)
- Short-term financial debts -€1.1m
down €1.1m (-34.5%), from €3.3m to €2.1m
- Profit (loss) carried forward -€373,402
down €373,402 (-57.2%), from -€652,568 to -€1.0m
- Debts after one year -€366,727
down €366,727 (-2.6%), from €14.1m to €13.7m
of which Other amounts payable: -€340,199
- Financial charges -€75,349
down €75,349 (-30.6%), from €246,307 to €170,958
- Staff costs +€33,871
up €33,871 (+97.9%), from €34,584 to €68,455
- Depreciation -€9,883
down €9,883 (-30.1%), from €32,831 to €22,948
- Gross operating margin +€6,431
up €6,431 (+7.4%), from -€87,284 to -€80,853
- Other operating charges -€1,590
down €1,590 (-5.0%), from €31,537 to €29,948
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 | €17,088,586 | €15,198,162 | -€1.9m | -11.1% |
| Fixed assets | 21/28 | €32,210 | €15,958 | -€16,252 | -50.5% |
| Intangible fixed assets | 21 | €11,094 | €6,101 | -€4,993 | -45.0% |
| Tangible fixed assets | 22/27 | €21,117 | €9,858 | -€11,259 | -53.3% |
| Plant, machinery and equipment | 23 | €270 | €2,424 | +€2,155 | +799% |
| Furniture and vehicles | 24 | €20,847 | €7,433 | -€13,414 | -64.3% |
| Current assets | 29/58 | €17,056,376 | €15,182,204 | -€1.9m | -11.0% |
| Stocks and contracts in progress | 3 | €9,945,650 | €7,750,781 | -€2.2m | -22.1% |
| Stocks | 30/36 | €9,945,650 | €7,750,781 | -€2.2m | -22.1% |
| Amounts receivable within one year | 40/41 | €7,039,260 | €7,173,379 | +€134,119 | +1.9% |
| Other amounts receivable | 41 | €7,039,260 | €7,173,379 | +€134,119 | +1.9% |
| Cash at bank and in hand | 54/58 | €71,465 | €258,043 | +€186,578 | +261% |
| Total equity and liabilities | 10/49 | €17,088,586 | €15,198,162 | -€1.9m | -11.1% |
| Equity | 10/15 | -€382,346 | -€755,748 | -€373,402 | -97.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €251,622 | €251,622 | = | 0.0% |
| Distributable reserves | 133 | €251,622 | €251,622 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€652,568 | -€1,025,970 | -€373,402 | -57.2% |
| Amounts payable | 17/49 | €17,470,932 | €15,953,910 | -€1.5m | -8.7% |
| Amounts payable after more than one year | 17 | €14,109,010 | €13,742,284 | -€366,727 | -2.6% |
| Financial debts | 170/4 | €465,925 | €439,397 | -€26,528 | -5.7% |
| Other amounts payable | 178/9 | €13,643,086 | €13,302,887 | -€340,199 | -2.5% |
| Amounts payable within one year | 42/48 | €3,361,922 | €2,211,626 | -€1.2m | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €23,750 | €28,700 | +€4,950 | +20.8% |
| Financial debts | 43 | €3,277,800 | €2,145,400 | -€1.1m | -34.5% |
| Credit institutions | 430/8 | €3,277,800 | €2,145,400 | -€1.1m | -34.5% |
| Trade debts | 44 | €42,207 | €20,194 | -€22,012 | -52.2% |
| Suppliers | 440/4 | €42,207 | €20,194 | -€22,012 | -52.2% |
| Taxes, remuneration and social security | 45 | €320 | €1,387 | +€1,067 | +333% |
| Taxes | 450/3 | €320 | €304 | -€16 | -5.0% |
| Remuneration and social security | 454/9 | - | €1,083 | +€1,083 | |
| Other amounts payable | 47/48 | €17,845 | €15,945 | -€1,900 | -10.6% |
| Remuneration, social security and pensions | 62 | €34,584 | €68,455 | +€33,871 | +97.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,831 | €22,948 | -€9,883 | -30.1% |
| Other operating charges | 640/8 | €31,537 | €29,948 | -€1,590 | -5.0% |
| Gross operating margin | 9900 | -€87,284 | -€80,853 | +€6,431 | +7.4% |
| Operating profit (loss) | 9901 | -€186,237 | -€202,204 | -€15,967 | -8.6% |
| Financial income | 75/76B | €32 | €64 | +€33 | +104% |
| Recurring financial income | 75 | €32 | €64 | +€33 | +104% |
| Financial charges | 65/66B | €246,307 | €170,958 | -€75,349 | -30.6% |
| Recurring financial charges | 65 | €246,307 | €170,958 | -€75,349 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | -€432,512 | -€373,098 | +€59,415 | +13.7% |
| Income taxes | 67/77 | €320 | €304 | -€16 | -5.0% |
| Profit (loss) for the period | 9904 | -€432,832 | -€373,402 | +€59,431 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€432,832 | -€373,402 | +€59,431 | +13.7% |
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 13 October 2026 via checked.be.