BSI Management: what changed
Two fiscal 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.
BSI Management
Largest movements
- Tangible fixed assets +€255,835
up €255,835 (+3624.3%), from €7,059 to €262,894
of which Land and buildings: +€231,806
- Financial fixed assets -€20,000
down €20,000 (-17.4%), from €115,000 to €95,000
- Receivables within one year -€6,513
down €6,513 (-24.0%), from €27,180 to €20,667
of which Trade receivables: -€7,030
- Current investments +€5,000
new in 2025: €5,000
- Cash +€4,988
up €4,988 (+51.5%), from €9,694 to €14,682
mainly Debts after one year (+€223,928) and Net result for the year (+€34,467)
- Debts after one year +€223,928
up €223,928 (+373.2%), from €60,000 to €283,928
- Current portion of long-term debt +€22,175
new in 2025: €22,175
- Tax, wage and social debts -€6,332
down €6,332 (-34.2%), from €18,523 to €12,191
- Other debts -€4,653
down €4,653 (-10.0%), from €46,715 to €42,062
- Gross operating margin -€21,861
down €21,861 (-26.9%), from €81,309 to €59,447
- Taxes -€7,466
down €7,466 (-45.0%), from €16,581 to €9,115
- Depreciation +€2,720
up €2,720 (+66.4%), from €4,097 to €6,817
- Financial charges +€1,453
up €1,453 (+14.4%), from €10,081 to €11,534
- Other operating charges +€1,129
up €1,129 (+107.4%), from €1,051 to €2,180
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 | €160,055 | €398,243 | +€238,188 | +148.8% |
| Fixed assets | 21/28 | €122,059 | €357,894 | +€235,835 | +193.2% |
| Tangible fixed assets | 22/27 | €7,059 | €262,894 | +€255,835 | +3624.3% |
| Land and buildings | 22 | €67 | €231,872 | +€231,806 | +346858.6% |
| Plant, machinery and equipment | 23 | €2,972 | €11,393 | +€8,420 | +283.3% |
| Furniture and vehicles | 24 | €2,447 | €15,638 | +€13,190 | +539.0% |
| Other tangible fixed assets | 26 | €1,573 | €3,991 | +€2,419 | +153.8% |
| Financial fixed assets | 28 | €115,000 | €95,000 | -€20,000 | -17.4% |
| Current assets | 29/58 | €37,996 | €40,349 | +€2,353 | +6.2% |
| Amounts receivable within one year | 40/41 | €27,180 | €20,667 | -€6,513 | -24.0% |
| Trade receivables | 40 | €25,637 | €18,607 | -€7,030 | -27.4% |
| Other amounts receivable | 41 | €1,543 | €2,060 | +€517 | +33.5% |
| Current investments | 50/53 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €9,694 | €14,682 | +€4,988 | +51.5% |
| Deferred charges and accrued income | 490/1 | €1,121 | €0 | -€1,121 | -100.0% |
| Total equity and liabilities | 10/49 | €160,055 | €398,243 | +€238,188 | +148.8% |
| Equity | 10/15 | €34,230 | €34,230 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €29,230 | €29,230 | = | 0.0% |
| Distributable reserves | 133 | €29,230 | €29,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €125,825 | €364,013 | +€238,188 | +189.3% |
| Amounts payable after more than one year | 17 | €60,000 | €283,928 | +€223,928 | +373.2% |
| Financial debts | 170/4 | €60,000 | €283,928 | +€223,928 | +373.2% |
| Amounts payable within one year | 42/48 | €65,825 | €80,086 | +€14,260 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | - | €22,175 | +€22,175 | |
| Financial debts | 43 | €529 | €341 | -€188 | -35.5% |
| Credit institutions | 430/8 | €529 | €341 | -€188 | -35.5% |
| Trade debts | 44 | €59 | €3,317 | +€3,258 | +5511.4% |
| Suppliers | 440/4 | €59 | €3,317 | +€3,258 | +5511.4% |
| Taxes, remuneration and social security | 45 | €18,523 | €12,191 | -€6,332 | -34.2% |
| Taxes | 450/3 | €18,523 | €12,191 | -€6,332 | -34.2% |
| Other amounts payable | 47/48 | €46,715 | €42,062 | -€4,653 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,097 | €6,817 | +€2,720 | +66.4% |
| Other operating charges | 640/8 | €1,051 | €2,180 | +€1,129 | +107.4% |
| Gross operating margin | 9900 | €81,309 | €59,447 | -€21,861 | -26.9% |
| Operating profit (loss) | 9901 | €76,161 | €50,450 | -€25,711 | -33.8% |
| Financial income | 75/76B | €5,196 | €4,666 | -€530 | -10.2% |
| Recurring financial income | 75 | €5,196 | €4,666 | -€530 | -10.2% |
| Financial charges | 65/66B | €10,081 | €11,534 | +€1,453 | +14.4% |
| Recurring financial charges | 65 | €10,081 | €11,534 | +€1,453 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €71,276 | €43,582 | -€27,694 | -38.9% |
| Income taxes | 67/77 | €16,581 | €9,115 | -€7,466 | -45.0% |
| Profit (loss) for the period | 9904 | €54,695 | €34,467 | -€20,228 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,695 | €34,467 | -€20,228 | -37.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.