BSG: 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.
BSG
Largest movements
- Receivables within one year +€55,196
up €55,196 (+126%), from €43,851 to €99,047
of which Trade receivables: +€59,443
- Tangible fixed assets -€51,349
down €51,349 (-20.0%), from €257,187 to €205,839
of which Leasing and similar rights: -€81,149
- Cash +€20,944
up €20,944 (+258%), from €8,115 to €29,059
mainly Investment in fixed assets (net) (+€51,349) and Net result for the year (+€40,306)
- Profit (loss) carried forward +€40,306
up €40,306 (+841%), from €4,795 to €45,101
- Debts after one year -€38,210
down €38,210 (-34.6%), from €110,593 to €72,383
- Tax, wage and social debts +€33,697
up €33,697 (+76.3%), from €44,150 to €77,847
of which Taxes: +€27,537
- Current portion of long-term debt -€11,317
down €11,317 (-20.4%), from €55,501 to €44,184
- Short-term financial debts -€10,000
no longer reported in 2024 (was €10,000)
- Gross operating margin +€183,332
up €183,332 (+215%), from €85,112 to €268,444
- Purchases and services -€96,235
down €96,235 (-21.0%), from €458,028 to €361,794
- Staff costs +€23,408
up €23,408 (+15.8%), from €148,355 to €171,764
- Financial charges +€13,172
up €13,172 (+140%), from €9,412 to €22,584
of which Financial charges: +€7,179
- Other operating charges +€4,247
up €4,247 (+61.3%), from €6,925 to €11,172
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 | €314,155 | €338,945 | +€24,791 | +7.9% |
| Formation expenses | 20 | €1 | €1 | = | 0.0% |
| Fixed assets | 21/28 | €262,187 | €210,839 | -€51,349 | -19.6% |
| Tangible fixed assets | 22/27 | €257,187 | €205,839 | -€51,349 | -20.0% |
| Furniture and vehicles | 24 | €160,439 | €187,989 | +€27,550 | +17.2% |
| Leasing and similar rights | 25 | €96,749 | €15,600 | -€81,149 | -83.9% |
| Other tangible fixed assets | 26 | - | €2,250 | +€2,250 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €51,966 | €128,106 | +€76,139 | +147% |
| Amounts receivable within one year | 40/41 | €43,851 | €99,047 | +€55,196 | +126% |
| Trade receivables | 40 | €26,875 | €86,318 | +€59,443 | +221% |
| Other amounts receivable | 41 | €16,976 | €12,729 | -€4,248 | -25.0% |
| Cash at bank and in hand | 54/58 | €8,115 | €29,059 | +€20,944 | +258% |
| Total equity and liabilities | 10/49 | €314,155 | €338,945 | +€24,791 | +7.9% |
| Equity | 10/15 | €25,453 | €65,759 | +€40,306 | +158% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,058 | €2,058 | = | 0.0% |
| Non-distributable reserves | 130/1 | €553 | €553 | = | 0.0% |
| Reserves not available under the articles | 1311 | €553 | €553 | = | 0.0% |
| Distributable reserves | 133 | €1,505 | €1,505 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,795 | €45,101 | +€40,306 | +841% |
| Amounts payable | 17/49 | €288,702 | €273,186 | -€15,516 | -5.4% |
| Amounts payable after more than one year | 17 | €110,593 | €72,383 | -€38,210 | -34.6% |
| Financial debts | 170/4 | €110,593 | €72,383 | -€38,210 | -34.6% |
| Amounts payable within one year | 42/48 | €178,109 | €200,803 | +€22,694 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €55,501 | €44,184 | -€11,317 | -20.4% |
| Financial debts | 43 | €10,000 | - | -€10,000 | |
| Credit institutions | 430/8 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €56,422 | €63,200 | +€6,778 | +12.0% |
| Suppliers | 440/4 | €56,422 | €63,200 | +€6,778 | +12.0% |
| Taxes, remuneration and social security | 45 | €44,150 | €77,847 | +€33,697 | +76.3% |
| Taxes | 450/3 | - | €27,537 | +€27,537 | |
| Remuneration and social security | 454/9 | €44,150 | €50,310 | +€6,160 | +14.0% |
| Other amounts payable | 47/48 | €12,036 | €15,572 | +€3,536 | +29.4% |
| Non-recurring operating income | 76A | - | €3,346 | +€3,346 | |
| Goods, raw materials, services and sundry goods | 60/61 | €458,028 | €361,794 | -€96,235 | -21.0% |
| Remuneration, social security and pensions | 62 | €148,355 | €171,764 | +€23,408 | +15.8% |
| Other operating charges | 640/8 | €6,925 | €11,172 | +€4,247 | +61.3% |
| Non-recurring operating charges | 66A | - | €22,650 | +€22,650 | |
| Gross operating margin | 9900 | €85,112 | €268,444 | +€183,332 | +215% |
| Operating profit (loss) | 9901 | -€70,168 | €62,858 | +€133,026 | |
| Financial income | 75/76B | €0 | €75 | +€75 | +28,877% |
| Recurring financial income | 75 | €0 | €75 | +€75 | +28,877% |
| Financial charges | 65/66B | €9,412 | €22,584 | +€13,172 | +140% |
| Recurring financial charges | 65 | €8,534 | €15,713 | +€7,179 | +84.1% |
| Non-recurring financial charges | 66B | €878 | €6,871 | +€5,993 | +683% |
| Profit (loss) for the period before taxes | 9903 | -€79,579 | €40,350 | +€119,929 | |
| Income taxes | 67/77 | - | €43 | +€43 | |
| Profit (loss) for the period | 9904 | -€79,579 | €40,306 | +€119,886 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,579 | €40,306 | +€119,886 |
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 19 October 2026 via checked.be.