BSC GROUP: 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.
BSC GROUP
Largest movements
- Receivables within one year +€248,910
up €248,910 (+139%), from €179,327 to €428,237
of which Trade receivables: +€124,749
- Tangible fixed assets +€26,218
up €26,218 (+296%), from €8,870 to €35,088
of which Furniture and vehicles: +€26,413
- Trade debts +€197,119
up €197,119 (+47,677%), from €413 to €197,532
- Profit (loss) carried forward +€53,424
up €53,424 (+90.4%), from €59,106 to €112,531
- Tax, wage and social debts +€26,436
up €26,436 (+6,120%), from €432 to €26,868
- Current portion of long-term debt +€11,365
new in 2025: €11,365
- Short-term financial debts -€9,500
down €9,500 (-36.5%), from €26,000 to €16,500
- Gross operating margin +€63,860
up €63,860 (+517%), from €12,351 to €76,211
- Other operating charges +€11,926
up €11,926 (+2,159%), from €552 to €12,479
- Financial charges -€1,075
down €1,075 (-30.2%), from €3,560 to €2,485
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 | €193,520 | €471,359 | +€277,839 | +144% |
| Fixed assets | 21/28 | €9,998 | €36,780 | +€26,782 | +268% |
| Tangible fixed assets | 22/27 | €8,870 | €35,088 | +€26,218 | +296% |
| Land and buildings | 22 | €2,509 | €2,314 | -€195 | -7.8% |
| Furniture and vehicles | 24 | €6,361 | €32,774 | +€26,413 | +415% |
| Financial fixed assets | 28 | €1,128 | €1,692 | +€564 | +50.0% |
| Current assets | 29/58 | €183,522 | €434,580 | +€251,057 | +137% |
| Amounts receivable within one year | 40/41 | €179,327 | €428,237 | +€248,910 | +139% |
| Trade receivables | 40 | €101,774 | €226,523 | +€124,749 | +123% |
| Other amounts receivable | 41 | €77,554 | €201,714 | +€124,161 | +160% |
| Cash at bank and in hand | 54/58 | €4,195 | €6,342 | +€2,147 | +51.2% |
| Total equity and liabilities | 10/49 | €193,520 | €471,359 | +€277,839 | +144% |
| Equity | 10/15 | €98,316 | €151,741 | +€53,424 | +54.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,106 | €112,531 | +€53,424 | +90.4% |
| Amounts payable | 17/49 | €95,204 | €319,619 | +€224,415 | +236% |
| Amounts payable within one year | 42/48 | €95,204 | €319,619 | +€224,415 | +236% |
| Current portion of amounts payable after more than one year | 42 | - | €11,365 | +€11,365 | |
| Financial debts | 43 | €26,000 | €16,500 | -€9,500 | -36.5% |
| Credit institutions | 430/8 | €26,000 | €16,500 | -€9,500 | -36.5% |
| Trade debts | 44 | €413 | €197,532 | +€197,119 | +47,677% |
| Suppliers | 440/4 | €413 | €197,532 | +€197,119 | +47,677% |
| Taxes, remuneration and social security | 45 | €432 | €26,868 | +€26,436 | +6,120% |
| Taxes | 450/3 | €432 | €26,868 | +€26,436 | +6,120% |
| Other amounts payable | 47/48 | €68,358 | €67,353 | -€1,005 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,727 | €7,818 | +€92 | +1.2% |
| Other operating charges | 640/8 | €552 | €12,479 | +€11,926 | +2,159% |
| Gross operating margin | 9900 | €12,351 | €76,211 | +€63,860 | +517% |
| Operating profit (loss) | 9901 | €4,072 | €55,915 | +€51,842 | +1,273% |
| Financial income | 75/76B | €0 | €220 | +€220 | +73,333% |
| Recurring financial income | 75 | €0 | €220 | +€220 | +73,333% |
| Financial charges | 65/66B | €3,560 | €2,485 | -€1,075 | -30.2% |
| Recurring financial charges | 65 | €3,560 | €2,485 | -€1,075 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €513 | €53,650 | +€53,137 | +10,362% |
| Income taxes | 67/77 | €669 | €225 | -€444 | -66.3% |
| Profit (loss) for the period | 9904 | -€156 | €53,424 | +€53,581 | |
| Profit (loss) for the period to be appropriated | 9905 | -€156 | €53,424 | +€53,581 |
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 23 October 2026 via checked.be.