BSD 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.
What changed
BSD IMMO
NACE 96.301, Funeral services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,445
2024 · -€406,662+€409,106
Equity
€904,046
2024 · €901,601+€2,445
Cash
€993,609
2024 · €637,273+€356,336
Balance sheet total
€6.7m
2024 · €7.2m-€440,149
Largest movements
Assets
- Intangible fixed assets -€489,823
down €489,823 (-29.1%), from €1.7m to €1.2m
- Cash +€356,336
up €356,336 (+55.9%), from €637,273 to €993,609
mainly Depreciation (+€805,455) and Trade debts (+€129,249)
- Tangible fixed assets -€303,983
down €303,983 (-7.0%), from €4.3m to €4.0m
of which Land and buildings: -€273,846
Equity and liabilities
- Debts after one year -€508,218
down €508,218 (-9.6%), from €5.3m to €4.8m
of which Financial debts: -€571,916
- Trade debts +€129,249
up €129,249 (+170%), from €75,962 to €205,211
Income statement
- Turnover +€4.9m
new in 2025: €4.9m
- Services and other goods +€1.6m
new in 2025: €1.6m
- Gross operating margin -€1.6m
no longer reported in 2025 (was €1.6m)
- Goods and materials +€1.3m
new in 2025: €1.3m
of which Purchases: +€1.3m
- Taxes +€144,782
up €144,782 (+489%), from €29,634 to €174,416
of which Taxes: +€174,416
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.
Result 2024
-€406,662
Turnover
+€4.9m
Other operating income
+€66,303
Goods and materials
-€1.3m
Services and other goods
-€1.6m
Staff costs
-€44,880
Depreciation
-€5,718
Write-downs
+€144
Other operating charges
+€2,180
Other operating items
-€1.6m
Financial income
-€2,889
Financial charges
+€5,597
Taxes
-€144,782
Result 2025
€2,445
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€899,651
Investment
-€11,649
Financing
-€531,666
Cash 2024
€637,273
From operations (derived)
+€899,651
Net result for the year
+€2,445
Depreciation
+€805,455
Stocks and contracts
-€523
Receivables within one year
-€9,279
Deferred charges and accrued income
+€12,482
Trade debts
+€129,249
Tax, wage and social debts
+€14,550
Advances received
-€50,656
Accrued charges and deferred income
-€4,071
Investment (derived)
-€11,649
Investment in fixed assets (net)
-€11,649
Financing
-€531,666
Debts after one year
-€508,218
Current portion of long-term debt
-€23,448
Cash 2025
€993,609
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,159,280 | €6,719,130 | -€440,149 | -6.1% |
| Fixed assets | 21/28 | €6,026,986 | €5,233,179 | -€793,806 | -13.2% |
| Intangible fixed assets | 21 | €1,685,892 | €1,196,069 | -€489,823 | -29.1% |
| Tangible fixed assets | 22/27 | €4,340,293 | €4,036,310 | -€303,983 | -7.0% |
| Land and buildings | 22 | €4,209,050 | €3,935,204 | -€273,846 | -6.5% |
| Plant, machinery and equipment | 23 | €11,095 | €7,422 | -€3,673 | -33.1% |
| Furniture and vehicles | 24 | €91,425 | €74,074 | -€17,351 | -19.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €28,723 | €19,611 | -€9,113 | -31.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €800 | +€800 | |
| Amounts receivable and cash guarantees | 285/8 | - | €800 | +€800 | |
| Current assets | 29/58 | €1,132,294 | €1,485,951 | +€353,657 | +31.2% |
| Stocks and contracts in progress | 3 | €65,574 | €66,097 | +€523 | +0.8% |
| Stocks | 30/36 | €65,574 | €66,097 | +€523 | +0.8% |
| Goods purchased for resale | 34 | - | €66,097 | +€66,097 | |
| Amounts receivable within one year | 40/41 | €350,097 | €359,377 | +€9,279 | +2.7% |
| Trade receivables | 40 | €297,998 | €340,479 | +€42,480 | +14.3% |
| Other amounts receivable | 41 | €52,099 | €18,898 | -€33,201 | -63.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €637,273 | €993,609 | +€356,336 | +55.9% |
| Deferred charges and accrued income | 490/1 | €79,350 | €66,868 | -€12,482 | -15.7% |
| Total equity and liabilities | 10/49 | €7,159,280 | €6,719,130 | -€440,149 | -6.1% |
| Equity | 10/15 | €901,601 | €904,046 | +€2,445 | +0.3% |
| Contributions | 10/11 | €1,357,370 | €1,357,370 | = | 0.0% |
| Reserves | 13 | €85,202 | €85,202 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,737 | €5,737 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,737 | €5,737 | = | 0.0% |
| Distributable reserves | 133 | €79,465 | €79,465 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€540,971 | -€538,527 | +€2,445 | +0.5% |
| Amounts payable | 17/49 | €6,257,679 | €5,815,085 | -€442,594 | -7.1% |
| Amounts payable after more than one year | 17 | €5,316,201 | €4,807,983 | -€508,218 | -9.6% |
| Financial debts | 170/4 | €3,983,487 | €3,411,572 | -€571,916 | -14.4% |
| Credit institutions | 173 | - | €3,411,572 | +€3.4m | |
| Advances received on contracts in progress | 176 | €1,332,714 | €1,396,411 | +€63,697 | +4.8% |
| Amounts payable within one year | 42/48 | €930,772 | €1,000,467 | +€69,695 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €624,793 | €601,345 | -€23,448 | -3.8% |
| Trade debts | 44 | €75,962 | €205,211 | +€129,249 | +170% |
| Suppliers | 440/4 | €75,962 | €205,211 | +€129,249 | +170% |
| Advances received on contracts in progress | 46 | €50,656 | €0 | -€50,656 | -100% |
| Taxes, remuneration and social security | 45 | €155,111 | €169,661 | +€14,550 | +9.4% |
| Taxes | 450/3 | €8,850 | €19,003 | +€10,153 | +115% |
| Remuneration and social security | 454/9 | €146,261 | €150,658 | +€4,397 | +3.0% |
| Other amounts payable | 47/48 | €24,250 | €24,250 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10,705 | €6,634 | -€4,071 | -38.0% |
| Operating income | 70/76A | - | €5,006,424 | +€5.0m | |
| Turnover | 70 | - | €4,940,121 | +€4.9m | |
| Other operating income | 74 | - | €66,303 | +€66,303 | |
| Operating charges | 60/66A | - | €4,754,864 | +€4.8m | |
| Goods for resale, raw materials and consumables | 60 | - | €1,252,095 | +€1.3m | |
| Purchases | 600/8 | - | €1,252,618 | +€1.3m | |
| Change in stocks: decrease (increase) | 609 | - | -€523 | -€523 | |
| Services and other goods | 61 | - | €1,576,110 | +€1.6m | |
| Remuneration, social security and pensions | 62 | €985,110 | €1,029,990 | +€44,880 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €799,737 | €805,455 | +€5,718 | +0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,777 | -€1,921 | -€144 | -8.1% |
| Other operating charges | 640/8 | €74,622 | €72,441 | -€2,180 | -2.9% |
| Non-recurring operating charges | 66A | €0 | €20,694 | +€20,694 | |
| Gross operating margin | 9900 | €1,558,071 | - | -€1.6m | |
| Operating profit (loss) | 9901 | -€299,620 | €251,560 | +€551,180 | |
| Financial income | 75/76B | €18,561 | €15,672 | -€2,889 | -15.6% |
| Recurring financial income | 75 | €18,561 | €15,672 | -€2,889 | -15.6% |
| Income from current assets | 751 | - | €12,652 | +€12,652 | |
| Other financial income | 752/9 | - | €3,020 | +€3,020 | |
| Financial charges | 65/66B | €95,968 | €90,371 | -€5,597 | -5.8% |
| Recurring financial charges | 65 | €95,968 | €90,371 | -€5,597 | -5.8% |
| Debt charges | 650 | - | €85,772 | +€85,772 | |
| Other financial charges | 652/9 | - | €4,599 | +€4,599 | |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€377,027 | €176,861 | +€553,888 | |
| Income taxes | 67/77 | €29,634 | €174,416 | +€144,782 | +489% |
| Taxes | 670/3 | - | €174,416 | +€174,416 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€406,662 | €2,445 | +€409,106 | |
| Profit (loss) for the period to be appropriated | 9905 | -€406,662 | €2,445 | +€409,106 |
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 30 October 2026 via checked.be.