BSC: 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.
BSC
Largest movements
- Intangible fixed assets +€292,446
up €292,446 (+54.9%), from €532,546 to €824,993
- Tangible fixed assets +€43,760
up €43,760 (+3.6%), from €1.2m to €1.2m
of which Leasing and similar rights: +€112,094
- Receivables within one year -€39,253
down €39,253 (-26.0%), from €151,053 to €111,800
of which Other amounts receivable: -€40,000
- Cash +€32,451
up €32,451 (+58.4%), from €55,598 to €88,049
mainly Depreciation (+€270,995) and Other debts (+€120,347)
- Other debts +€120,347
up €120,347 (+226.8%), from €53,053 to €173,400
- Trade debts +€82,151
up €82,151 (+248.9%), from €33,012 to €115,162
- Tax, wage and social debts +€43,796
up €43,796 (+60.6%), from €72,260 to €116,056
of which Remuneration and social security: +€29,233
- Debts after one year +€39,998
up €39,998 (+3.0%), from €1.3m to €1.4m
of which Financial debts: +€29,966
- Current portion of long-term debt +€27,241
up €27,241 (+39.2%), from €69,502 to €96,744
- Gross operating margin +€216,426
up €216,426 (+38.0%), from €570,276 to €786,702
- Staff costs +€98,600
up €98,600 (+33.4%), from €294,792 to €393,392
- Depreciation +€90,844
up €90,844 (+50.4%), from €180,151 to €270,995
- Financial charges +€35,703
up €35,703 (+56.7%), from €62,964 to €98,667
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,963,249 | €2,292,109 | +€328,859 | +16.8% |
| Fixed assets | 21/28 | €1,752,231 | €2,088,887 | +€336,656 | +19.2% |
| Intangible fixed assets | 21 | €532,546 | €824,993 | +€292,446 | +54.9% |
| Tangible fixed assets | 22/27 | €1,200,184 | €1,243,944 | +€43,760 | +3.6% |
| Land and buildings | 22 | €899,137 | €873,282 | -€25,856 | -2.9% |
| Plant, machinery and equipment | 23 | €2,393 | €1,656 | -€737 | -30.8% |
| Furniture and vehicles | 24 | €92,755 | €64,103 | -€28,652 | -30.9% |
| Leasing and similar rights | 25 | €92,818 | €204,912 | +€112,094 | +120.8% |
| Assets under construction and advance payments | 27 | €113,081 | €99,992 | -€13,089 | -11.6% |
| Financial fixed assets | 28 | €19,500 | €19,950 | +€450 | +2.3% |
| Current assets | 29/58 | €211,019 | €203,222 | -€7,797 | -3.7% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €151,053 | €111,800 | -€39,253 | -26.0% |
| Trade receivables | 40 | €111,053 | €111,800 | +€747 | +0.7% |
| Other amounts receivable | 41 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €55,598 | €88,049 | +€32,451 | +58.4% |
| Deferred charges and accrued income | 490/1 | €3,368 | €2,373 | -€995 | -29.5% |
| Total equity and liabilities | 10/49 | €1,963,249 | €2,292,109 | +€328,859 | +16.8% |
| Equity | 10/15 | €401,113 | €416,439 | +€15,326 | +3.8% |
| Contributions | 10/11 | €533,996 | €533,996 | = | 0.0% |
| Capital | 10 | €202,662 | €202,662 | = | 0.0% |
| Issued capital | 100 | €215,062 | €215,062 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €331,334 | €331,334 | = | 0.0% |
| Share premium | 1100/10 | €331,334 | €331,334 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,561 | -€193,811 | +€17,750 | +8.4% |
| Investment grants | 15 | €78,678 | €76,254 | -€2,424 | -3.1% |
| Amounts payable | 17/49 | €1,562,137 | €1,875,670 | +€313,533 | +20.1% |
| Amounts payable after more than one year | 17 | €1,334,310 | €1,374,307 | +€39,998 | +3.0% |
| Financial debts | 170/4 | €1,264,982 | €1,294,947 | +€29,966 | +2.4% |
| Other amounts payable | 178/9 | €69,328 | €79,360 | +€10,032 | +14.5% |
| Amounts payable within one year | 42/48 | €227,827 | €501,363 | +€273,536 | +120.1% |
| Current portion of amounts payable after more than one year | 42 | €69,502 | €96,744 | +€27,241 | +39.2% |
| Trade debts | 44 | €33,012 | €115,162 | +€82,151 | +248.9% |
| Suppliers | 440/4 | €33,012 | €115,162 | +€82,151 | +248.9% |
| Taxes, remuneration and social security | 45 | €72,260 | €116,056 | +€43,796 | +60.6% |
| Taxes | 450/3 | €25,532 | €40,095 | +€14,563 | +57.0% |
| Remuneration and social security | 454/9 | €46,728 | €75,961 | +€29,233 | +62.6% |
| Other amounts payable | 47/48 | €53,053 | €173,400 | +€120,347 | +226.8% |
| Remuneration, social security and pensions | 62 | €294,792 | €393,392 | +€98,600 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,151 | €270,995 | +€90,844 | +50.4% |
| Other operating charges | 640/8 | €2,979 | €8,309 | +€5,331 | +179.0% |
| Gross operating margin | 9900 | €570,276 | €786,702 | +€216,426 | +38.0% |
| Operating profit (loss) | 9901 | €92,355 | €114,006 | +€21,651 | +23.4% |
| Financial income | 75/76B | €2,823 | €2,566 | -€257 | -9.1% |
| Recurring financial income | 75 | €2,823 | €2,566 | -€257 | -9.1% |
| Financial charges | 65/66B | €62,964 | €98,667 | +€35,703 | +56.7% |
| Recurring financial charges | 65 | €62,964 | €98,667 | +€35,703 | +56.7% |
| Profit (loss) for the period before taxes | 9903 | €32,214 | €17,905 | -€14,309 | -44.4% |
| Income taxes | 67/77 | - | €155 | +€155 | |
| Profit (loss) for the period | 9904 | €32,214 | €17,750 | -€14,464 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,214 | €17,750 | -€14,464 | -44.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.