BS Management: 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.
BS Management
Largest movements
- Current investments -€183,098
down €183,098 (-57.3%), from €319,368 to €136,270
- Financial fixed assets +€145,000
up €145,000 (+147.5%), from €98,300 to €243,300
- Tangible fixed assets -€20,674
down €20,674 (-6.9%), from €300,025 to €279,351
of which Land and buildings: -€20,738
- Cash -€16,636
down €16,636 (-27.8%), from €59,782 to €43,146
mainly Investment in fixed assets (net) (-€146,908) and Net result for the year (-€59,090)
- Receivables within one year +€11,644
up €11,644 (+5.0%), from €234,940 to €246,583
of which Other amounts receivable: +€11,644
- Profit (loss) carried forward -€59,090
down €59,090 (-12.4%), from €476,411 to €417,321
- Financial charges +€34,565
up €34,565 (+67.1%), from €51,475 to €86,040
of which Financial charges: +€34,565
- Gross operating margin -€21,094
down €21,094, from €4,136 to -€16,958
- Financial income +€13,804
up €13,804 (+23.1%), from €59,745 to €73,549
of which Financial income: +€13,804
- Taxes -€9,249
down €9,249 (-71.0%), from €13,031 to €3,782
- Other operating charges +€2,707
up €2,707 (+474.2%), from €571 to €3,277
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 | €1,032,414 | €971,149 | -€61,265 | -5.9% |
| Fixed assets | 21/28 | €398,325 | €522,651 | +€124,326 | +31.2% |
| Tangible fixed assets | 22/27 | €300,025 | €279,351 | -€20,674 | -6.9% |
| Land and buildings | 22 | €293,404 | €272,666 | -€20,738 | -7.1% |
| Plant, machinery and equipment | 23 | €6,621 | €5,296 | -€1,325 | -20.0% |
| Furniture and vehicles | 24 | €0 | €1,389 | +€1,389 | |
| Financial fixed assets | 28 | €98,300 | €243,300 | +€145,000 | +147.5% |
| Current assets | 29/58 | €634,090 | €448,499 | -€185,591 | -29.3% |
| Amounts receivable after more than one year | 29 | €20,000 | €22,500 | +€2,500 | +12.5% |
| Other amounts receivable | 291 | €20,000 | €22,500 | +€2,500 | +12.5% |
| Amounts receivable within one year | 40/41 | €234,940 | €246,583 | +€11,644 | +5.0% |
| Trade receivables | 40 | €6,934 | €6,934 | = | 0.0% |
| Other amounts receivable | 41 | €228,005 | €239,649 | +€11,644 | +5.1% |
| Current investments | 50/53 | €319,368 | €136,270 | -€183,098 | -57.3% |
| Cash at bank and in hand | 54/58 | €59,782 | €43,146 | -€16,636 | -27.8% |
| Total equity and liabilities | 10/49 | €1,032,414 | €971,149 | -€61,265 | -5.9% |
| Equity | 10/15 | €1,011,419 | €952,329 | -€59,090 | -5.8% |
| Contributions | 10/11 | €496,418 | €496,418 | = | 0.0% |
| Reserves | 13 | €38,590 | €38,590 | = | 0.0% |
| Non-distributable reserves | 130/1 | €38,590 | €38,590 | = | 0.0% |
| Reserves not available under the articles | 1311 | €38,590 | - | -€38,590 | |
| Other | 1319 | - | €38,590 | +€38,590 | |
| Profit (loss) carried forward | 14 | €476,411 | €417,321 | -€59,090 | -12.4% |
| Amounts payable | 17/49 | €20,996 | €18,821 | -€2,175 | -10.4% |
| Amounts payable after more than one year | 17 | €11,799 | €6,592 | -€5,207 | -44.1% |
| Financial debts | 170/4 | €11,799 | €6,592 | -€5,207 | -44.1% |
| Amounts payable within one year | 42/48 | €7,798 | €12,229 | +€4,431 | +56.8% |
| Current portion of amounts payable after more than one year | 42 | €5,370 | €5,203 | -€166 | -3.1% |
| Trade debts | 44 | €2,428 | €5,992 | +€3,564 | +146.8% |
| Suppliers | 440/4 | €2,428 | €5,992 | +€3,564 | +146.8% |
| Taxes, remuneration and social security | 45 | - | €1,034 | +€1,034 | |
| Taxes | 450/3 | - | €1,034 | +€1,034 | |
| Accrued charges and deferred income | 492/3 | €1,399 | €0 | -€1,399 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,062 | €22,582 | +€521 | +2.4% |
| Other operating charges | 640/8 | €571 | €3,277 | +€2,707 | +474.2% |
| Non-recurring operating charges | 66A | €1,330 | - | -€1,330 | |
| Gross operating margin | 9900 | €4,136 | -€16,958 | -€21,094 | |
| Operating profit (loss) | 9901 | -€19,827 | -€42,818 | -€22,991 | -116.0% |
| Financial income | 75/76B | €59,745 | €73,549 | +€13,804 | +23.1% |
| Recurring financial income | 75 | €59,745 | €73,549 | +€13,804 | +23.1% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €51,475 | €86,040 | +€34,565 | +67.1% |
| Recurring financial charges | 65 | €51,475 | €86,040 | +€34,565 | +67.1% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€11,557 | -€55,308 | -€43,751 | -378.6% |
| Income taxes | 67/77 | €13,031 | €3,782 | -€9,249 | -71.0% |
| Profit (loss) for the period | 9904 | -€24,588 | -€59,090 | -€34,502 | -140.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,588 | -€59,090 | -€34,502 | -140.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.