BSC IMMO: 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 IMMO
Largest movements
- Stocks and contracts +€207,231
up €207,231 (+72.0%), from €287,769 to €495,000
- Cash +€19,451
up €19,451 (+18706.2%), from €104 to €19,555
mainly Short-term financial debts (+€233,062) and Receivables within one year (+€17,587)
- Receivables within one year -€17,587
down €17,587 (-22.5%), from €78,331 to €60,744
of which Other amounts receivable: -€29,034
- Tangible fixed assets +€17,542
up €17,542 (+227.4%), from €7,714 to €25,255
of which Other tangible fixed assets: +€17,542
- Short-term financial debts +€233,062
up €233,062 (+139.6%), from €166,939 to €400,000
- Trade debts -€9,602
down €9,602 (-80.5%), from €11,932 to €2,330
- Gross operating margin -€133,151
down €133,151 (-80.5%), from €165,398 to €32,247
- Other operating charges -€22,260
down €22,260 (-91.5%), from €24,320 to €2,060
- Taxes +€8,239
new in 2025: €8,239
- Financial charges -€2,862
down €2,862 (-12.9%), from €22,157 to €19,295
- Depreciation -€2,204
no longer reported in 2025 (was €2,204)
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 | €373,917 | €600,553 | +€226,636 | +60.6% |
| Fixed assets | 21/28 | €7,714 | €25,255 | +€17,542 | +227.4% |
| Tangible fixed assets | 22/27 | €7,714 | €25,255 | +€17,542 | +227.4% |
| Furniture and vehicles | 24 | €7,714 | €7,714 | = | 0.0% |
| Other tangible fixed assets | 26 | - | €17,542 | +€17,542 | |
| Current assets | 29/58 | €366,204 | €575,298 | +€209,094 | +57.1% |
| Stocks and contracts in progress | 3 | €287,769 | €495,000 | +€207,231 | +72.0% |
| Contracts in progress | 37 | €287,769 | €495,000 | +€207,231 | +72.0% |
| Amounts receivable within one year | 40/41 | €78,331 | €60,744 | -€17,587 | -22.5% |
| Trade receivables | 40 | €5,000 | €16,447 | +€11,447 | +228.9% |
| Other amounts receivable | 41 | €73,331 | €44,297 | -€29,034 | -39.6% |
| Cash at bank and in hand | 54/58 | €104 | €19,555 | +€19,451 | +18706.2% |
| Total equity and liabilities | 10/49 | €373,917 | €600,553 | +€226,636 | +60.6% |
| Equity | 10/15 | €193,783 | €196,435 | +€2,653 | +1.4% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Capital | 10 | €35,000 | €35,000 | = | 0.0% |
| Issued capital | 100 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,783 | €161,435 | +€2,653 | +1.7% |
| Amounts payable | 17/49 | €180,135 | €404,118 | +€223,983 | +124.3% |
| Amounts payable within one year | 42/48 | €180,135 | €404,118 | +€223,983 | +124.3% |
| Current portion of amounts payable after more than one year | 42 | - | €1,471 | +€1,471 | |
| Financial debts | 43 | €166,939 | €400,000 | +€233,062 | +139.6% |
| Credit institutions | 430/8 | €166,939 | €400,000 | +€233,062 | +139.6% |
| Trade debts | 44 | €11,932 | €2,330 | -€9,602 | -80.5% |
| Suppliers | 440/4 | €11,932 | €2,330 | -€9,602 | -80.5% |
| Other amounts payable | 47/48 | €1,264 | €317 | -€947 | -74.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,204 | - | -€2,204 | |
| Other operating charges | 640/8 | €24,320 | €2,060 | -€22,260 | -91.5% |
| Gross operating margin | 9900 | €165,398 | €32,247 | -€133,151 | -80.5% |
| Operating profit (loss) | 9901 | €138,874 | €30,187 | -€108,687 | -78.3% |
| Financial charges | 65/66B | €22,157 | €19,295 | -€2,862 | -12.9% |
| Recurring financial charges | 65 | €22,157 | €19,295 | -€2,862 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €116,717 | €10,892 | -€105,825 | -90.7% |
| Income taxes | 67/77 | - | €8,239 | +€8,239 | |
| Profit (loss) for the period | 9904 | €116,717 | €2,653 | -€114,064 | -97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €116,717 | €2,653 | -€114,064 | -97.7% |
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 11 October 2026 via checked.be.