BSH: 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.
BSH
Largest movements
- Cash +€10,994
up €10,994 (+39.5%), from €27,815 to €38,809
mainly Net result for the year (+€31,475) and Depreciation (+€8,838)
- Tangible fixed assets -€6,859
down €6,859 (-28.1%), from €24,399 to €17,540
- Receivables within one year -€2,653
down €2,653 (-31.5%), from €8,424 to €5,771
of which Trade receivables: -€2,684
- Stocks and contracts +€2,457
up €2,457 (+13.8%), from €17,831 to €20,288
- Profit (loss) carried forward +€31,475
up €31,475 (+29.0%), from -€108,476 to -€77,001
- Other debts -€31,318
down €31,318 (-33.3%), from €94,173 to €62,855
- Current portion of long-term debt +€4,508
up €4,508 (+29.4%), from €15,348 to €19,856
- Debts after one year -€4,189
down €4,189 (-7.5%), from €56,080 to €51,891
of which Financial debts: -€4,109
- Trade debts +€1,511
new in 2025: €1,511
- Gross operating margin +€9,785
up €9,785 (+28.5%), from €34,359 to €44,145
- Depreciation -€4,687
down €4,687 (-34.7%), from €13,524 to €8,838
- Financial income -€4,569
down €4,569 (-96.9%), from €4,714 to €146
of which Non-recurring financial income: -€4,706
- Financial charges +€848
up €848 (+203.4%), from €417 to €1,265
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 | €78,825 | €82,638 | +€3,814 | +4.8% |
| Fixed assets | 21/28 | €24,549 | €17,690 | -€6,859 | -27.9% |
| Tangible fixed assets | 22/27 | €24,399 | €17,540 | -€6,859 | -28.1% |
| Land and buildings | 22 | €10,728 | €7,551 | -€3,177 | -29.6% |
| Plant, machinery and equipment | 23 | €12,407 | €9,626 | -€2,781 | -22.4% |
| Furniture and vehicles | 24 | €1,264 | €363 | -€901 | -71.3% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €54,276 | €64,948 | +€10,672 | +19.7% |
| Stocks and contracts in progress | 3 | €17,831 | €20,288 | +€2,457 | +13.8% |
| Stocks | 30/36 | €17,831 | €20,288 | +€2,457 | +13.8% |
| Amounts receivable within one year | 40/41 | €8,424 | €5,771 | -€2,653 | -31.5% |
| Trade receivables | 40 | €8,424 | €5,740 | -€2,684 | -31.9% |
| Other amounts receivable | 41 | - | €31 | +€31 | |
| Cash at bank and in hand | 54/58 | €27,815 | €38,809 | +€10,994 | +39.5% |
| Deferred charges and accrued income | 490/1 | €206 | €79 | -€127 | -61.4% |
| Total equity and liabilities | 10/49 | €78,825 | €82,638 | +€3,814 | +4.8% |
| Equity | 10/15 | -€88,016 | -€56,541 | +€31,475 | +35.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€108,476 | -€77,001 | +€31,475 | +29.0% |
| Amounts payable | 17/49 | €166,840 | €139,179 | -€27,661 | -16.6% |
| Amounts payable after more than one year | 17 | €56,080 | €51,891 | -€4,189 | -7.5% |
| Financial debts | 170/4 | €55,000 | €50,891 | -€4,109 | -7.5% |
| Other amounts payable | 178/9 | €1,080 | €1,000 | -€80 | -7.4% |
| Amounts payable within one year | 42/48 | €110,760 | €86,090 | -€24,670 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €15,348 | €19,856 | +€4,508 | +29.4% |
| Trade debts | 44 | - | €1,511 | +€1,511 | |
| Suppliers | 440/4 | - | €1,511 | +€1,511 | |
| Taxes, remuneration and social security | 45 | €1,239 | €1,869 | +€630 | +50.8% |
| Taxes | 450/3 | €1,239 | €1,869 | +€630 | +50.8% |
| Other amounts payable | 47/48 | €94,173 | €62,855 | -€31,318 | -33.3% |
| Accrued charges and deferred income | 492/3 | - | €1,198 | +€1,198 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,524 | €8,838 | -€4,687 | -34.7% |
| Other operating charges | 640/8 | €3,146 | €2,714 | -€433 | -13.8% |
| Gross operating margin | 9900 | €34,359 | €44,145 | +€9,785 | +28.5% |
| Operating profit (loss) | 9901 | €17,689 | €32,594 | +€14,905 | +84.3% |
| Financial income | 75/76B | €4,714 | €146 | -€4,569 | -96.9% |
| Recurring financial income | 75 | €9 | €146 | +€137 | +1604.7% |
| Non-recurring financial income | 76B | €4,706 | €0 | -€4,706 | -100.0% |
| Financial charges | 65/66B | €417 | €1,265 | +€848 | +203.4% |
| Recurring financial charges | 65 | €417 | €1,265 | +€848 | +203.4% |
| Profit (loss) for the period before taxes | 9903 | €21,986 | €31,475 | +€9,488 | +43.2% |
| Profit (loss) for the period | 9904 | €21,986 | €31,475 | +€9,488 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,986 | €31,475 | +€9,488 | +43.2% |
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.