BSDA: 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.
BSDA
Largest movements
- Cash -€148,582
down €148,582 (-84.5%), from €175,735 to €27,153
mainly Debts after one year (-€225,675) and Investment in fixed assets (net) (-€43,404)
- Tangible fixed assets -€67,272
down €67,272 (-15.1%), from €446,390 to €379,118
of which Other tangible fixed assets: -€40,020
- Stocks and contracts -€9,806
down €9,806 (-29.5%), from €33,238 to €23,433
- Debts after one year -€225,675
down €225,675 (-59.2%), from €381,447 to €155,772
of which Other amounts payable: -€153,526
- Trade debts -€31,606
down €31,606 (-21.6%), from €146,327 to €114,722
- Profit (loss) carried forward +€23,276
up €23,276, from -€23,132 to €145
- Tax, wage and social debts +€7,909
up €7,909 (+23.7%), from €33,439 to €41,348
of which Remuneration and social security: +€11,460
- Gross operating margin +€94,331
up €94,331 (+28.3%), from €332,804 to €427,135
- Staff costs +€41,193
up €41,193 (+17.5%), from €234,966 to €276,159
- Depreciation +€7,610
up €7,610 (+7.4%), from €103,536 to €111,146
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.
Derived cash bridge
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 | €663,202 | €436,276 | -€226,926 | -34.2% |
| Fixed assets | 21/28 | €452,694 | €384,951 | -€67,743 | -15.0% |
| Intangible fixed assets | 21 | €941 | €471 | -€471 | -50.0% |
| Tangible fixed assets | 22/27 | €446,390 | €379,118 | -€67,272 | -15.1% |
| Plant, machinery and equipment | 23 | €344,752 | €310,741 | -€34,010 | -9.9% |
| Furniture and vehicles | 24 | €5,022 | €11,780 | +€6,759 | +135% |
| Other tangible fixed assets | 26 | €96,616 | €56,596 | -€40,020 | -41.4% |
| Financial fixed assets | 28 | €5,363 | €5,363 | = | 0.0% |
| Current assets | 29/58 | €210,508 | €51,325 | -€159,184 | -75.6% |
| Stocks and contracts in progress | 3 | €33,238 | €23,433 | -€9,806 | -29.5% |
| Stocks | 30/36 | €33,238 | €23,433 | -€9,806 | -29.5% |
| Amounts receivable within one year | 40/41 | €973 | - | -€973 | |
| Other amounts receivable | 41 | €973 | - | -€973 | |
| Cash at bank and in hand | 54/58 | €175,735 | €27,153 | -€148,582 | -84.5% |
| Deferred charges and accrued income | 490/1 | €562 | €739 | +€177 | +31.5% |
| Total equity and liabilities | 10/49 | €663,202 | €436,276 | -€226,926 | -34.2% |
| Equity | 10/15 | €26,868 | €50,145 | +€23,276 | +86.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,132 | €145 | +€23,276 | |
| Amounts payable | 17/49 | €636,334 | €386,132 | -€250,202 | -39.3% |
| Amounts payable after more than one year | 17 | €381,447 | €155,772 | -€225,675 | -59.2% |
| Financial debts | 170/4 | €224,844 | €152,695 | -€72,149 | -32.1% |
| Other amounts payable | 178/9 | €156,603 | €3,077 | -€153,526 | -98.0% |
| Amounts payable within one year | 42/48 | €254,887 | €230,359 | -€24,527 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €75,120 | €74,290 | -€830 | -1.1% |
| Trade debts | 44 | €146,327 | €114,722 | -€31,606 | -21.6% |
| Suppliers | 440/4 | €146,327 | €114,722 | -€31,606 | -21.6% |
| Taxes, remuneration and social security | 45 | €33,439 | €41,348 | +€7,909 | +23.7% |
| Taxes | 450/3 | €6,311 | €2,761 | -€3,551 | -56.3% |
| Remuneration and social security | 454/9 | €27,128 | €38,588 | +€11,460 | +42.2% |
| Remuneration, social security and pensions | 62 | €234,966 | €276,159 | +€41,193 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,536 | €111,146 | +€7,610 | +7.4% |
| Other operating charges | 640/8 | €2,123 | €1,460 | -€663 | -31.2% |
| Gross operating margin | 9900 | €332,804 | €427,135 | +€94,331 | +28.3% |
| Operating profit (loss) | 9901 | -€7,821 | €38,370 | +€46,191 | |
| Financial income | 75/76B | €125 | €189 | +€64 | +51.4% |
| Recurring financial income | 75 | €125 | €189 | +€64 | +51.4% |
| Financial charges | 65/66B | €14,138 | €15,283 | +€1,145 | +8.1% |
| Recurring financial charges | 65 | €14,138 | €15,283 | +€1,145 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | -€21,834 | €23,276 | +€45,110 | |
| Income taxes | 67/77 | €299 | - | -€299 | |
| Profit (loss) for the period | 9904 | -€22,132 | €23,276 | +€45,409 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,132 | €23,276 | +€45,409 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.