BSI Pipe Systems: 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
BSI Pipe Systems
NACE 77.399, Renting and leasing of other machinery, equipment and tangible goods
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€427,692
2024 · €127,504-€555,196
Equity
€5.2m
2024 · €1.6m+€3.6m
Cash
€83,981
2024 · €47,020+€36,961
Balance sheet total
€9.6m
2024 · €1.6m+€8.0m
Largest movements
Assets
- Tangible fixed assets +€5.7m
new in 2025: €5.7m
of which Leasing and similar rights: +€3.6m
- Stocks and contracts +€2.9m
new in 2025: €2.9m
- Receivables after one year -€1.4m
no longer reported in 2025 (was €1.4m)
- Receivables within one year +€604,302
up €604,302 (+322.3%), from €187,499 to €791,801
of which Trade receivables: +€596,300
Equity and liabilities
- Contributions +€4.0m
up €4.0m (+195.6%), from €2.1m to €6.1m
- Debts after one year +€2.6m
new in 2025: €2.6m
- Trade debts +€908,507
new in 2025: €908,507
- Current portion of long-term debt +€716,445
new in 2025: €716,445
- Profit (loss) carried forward -€427,692
down €427,692 (-90.5%), from -€472,334 to -€900,026
Income statement
- Turnover +€6.0m
new in 2025: €6.0m
- Goods and materials +€3.5m
new in 2025: €3.5m
of which Purchases: +€3.4m
- Services and other goods +€1.2m
new in 2025: €1.2m
- Staff costs +€943,794
new in 2025: €943,794
- Depreciation +€408,837
new in 2025: €408,837
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
€127,504
Turnover
+€6.0m
Other operating income
+€9,884
Goods and materials
-€3.5m
Services and other goods
-€1.2m
Staff costs
-€943,794
Depreciation
-€408,837
Other operating charges
-€8,121
Other operating items
-€284,651
Financial income
-€31,090
Financial charges
-€153,895
Result 2025
-€427,692
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.
From operations
-€1.1m
Investment
-€6.1m
Financing
+€7.3m
Cash 2024
€47,020
From operations (derived)
-€1.1m
Net result for the year
-€427,692
Depreciation
+€408,837
Receivables after one year
+€1.4m
Stocks and contracts
-€2.9m
Receivables within one year
-€604,302
Deferred charges and accrued income
-€59,003
Trade debts
+€908,507
Tax, wage and social debts
+€178,753
Investment (derived)
-€6.1m
Investment in fixed assets (net)
-€6.1m
Financing
+€7.3m
Debts after one year
+€2.6m
Current portion of long-term debt
+€716,445
Contributions, distributions and other
+€4.0m
Cash 2025
€83,981
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,589,666 | €9,554,743 | +€8.0m | +501.1% |
| Fixed assets | 21/28 | - | €5,732,522 | +€5.7m | |
| Intangible fixed assets | 21 | - | €4,237 | +€4,237 | |
| Tangible fixed assets | 22/27 | - | €5,727,635 | +€5.7m | |
| Land and buildings | 22 | - | €19,000 | +€19,000 | |
| Plant, machinery and equipment | 23 | - | €1,844,928 | +€1.8m | |
| Furniture and vehicles | 24 | - | €235,117 | +€235,117 | |
| Leasing and similar rights | 25 | - | €3,628,590 | +€3.6m | |
| Financial fixed assets | 28 | - | €649 | +€649 | |
| Other financial fixed assets | 284/8 | - | €649 | +€649 | |
| Amounts receivable and cash guarantees | 285/8 | - | €649 | +€649 | |
| Current assets | 29/58 | €1,589,666 | €3,822,222 | +€2.2m | +140.4% |
| Amounts receivable after more than one year | 29 | €1,355,147 | - | -€1.4m | |
| Other amounts receivable | 291 | €1,355,147 | - | -€1.4m | |
| Stocks and contracts in progress | 3 | - | €2,887,437 | +€2.9m | |
| Stocks | 30/36 | - | €2,887,437 | +€2.9m | |
| Raw materials and consumables | 30/31 | - | €1,439,964 | +€1.4m | |
| Finished goods | 33 | - | €1,351,553 | +€1.4m | |
| Goods purchased for resale | 34 | - | €95,920 | +€95,920 | |
| Amounts receivable within one year | 40/41 | €187,499 | €791,801 | +€604,302 | +322.3% |
| Trade receivables | 40 | €187,499 | €783,799 | +€596,300 | +318.0% |
| Other amounts receivable | 41 | - | €8,002 | +€8,002 | |
| Cash at bank and in hand | 54/58 | €47,020 | €83,981 | +€36,961 | +78.6% |
| Deferred charges and accrued income | 490/1 | - | €59,003 | +€59,003 | |
| Total equity and liabilities | 10/49 | €1,589,666 | €9,554,743 | +€8.0m | +501.1% |
| Equity | 10/15 | €1,589,666 | €5,196,276 | +€3.6m | +226.9% |
| Contributions | 10/11 | €2,062,000 | €6,096,302 | +€4.0m | +195.6% |
| Capital | 10 | €2,062,000 | €6,096,302 | +€4.0m | +195.6% |
| Issued capital | 100 | €2,062,000 | €6,096,302 | +€4.0m | +195.6% |
| Profit (loss) carried forward | 14 | -€472,334 | -€900,026 | -€427,692 | -90.5% |
| Amounts payable | 17/49 | - | €4,358,468 | +€4.4m | |
| Amounts payable after more than one year | 17 | - | €2,554,762 | +€2.6m | |
| Financial debts | 170/4 | - | €2,554,762 | +€2.6m | |
| Leasing and similar obligations | 172 | - | €2,554,762 | +€2.6m | |
| Amounts payable within one year | 42/48 | - | €1,803,705 | +€1.8m | |
| Current portion of amounts payable after more than one year | 42 | - | €716,445 | +€716,445 | |
| Trade debts | 44 | - | €908,507 | +€908,507 | |
| Suppliers | 440/4 | - | €908,507 | +€908,507 | |
| Taxes, remuneration and social security | 45 | - | €178,753 | +€178,753 | |
| Taxes | 450/3 | - | €96,976 | +€96,976 | |
| Remuneration and social security | 454/9 | - | €81,778 | +€81,778 | |
| Operating income | 70/76A | - | €5,775,631 | +€5.8m | |
| Turnover | 70 | - | €5,974,235 | +€6.0m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | -€208,488 | -€208,488 | |
| Other operating income | 74 | - | €9,884 | +€9,884 | |
| Operating charges | 60/66A | - | €6,071,047 | +€6.1m | |
| Goods for resale, raw materials and consumables | 60 | - | €3,493,484 | +€3.5m | |
| Purchases | 600/8 | - | €3,413,665 | +€3.4m | |
| Change in stocks: decrease (increase) | 609 | - | €79,819 | +€79,819 | |
| Services and other goods | 61 | - | €1,215,444 | +€1.2m | |
| Remuneration, social security and pensions | 62 | - | €943,794 | +€943,794 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €408,837 | +€408,837 | |
| Other operating charges | 640/8 | €1,368 | €9,488 | +€8,121 | +593.8% |
| Gross operating margin | 9900 | €76,163 | - | -€76,163 | |
| Operating profit (loss) | 9901 | €74,795 | -€295,416 | -€370,211 | |
| Financial income | 75/76B | €52,880 | €21,790 | -€31,090 | -58.8% |
| Recurring financial income | 75 | €52,880 | €21,790 | -€31,090 | -58.8% |
| Income from current assets | 751 | - | €21,790 | +€21,790 | |
| Financial charges | 65/66B | €171 | €154,066 | +€153,895 | +89808.0% |
| Recurring financial charges | 65 | €171 | €154,066 | +€153,895 | +89808.0% |
| Debt charges | 650 | - | €63,720 | +€63,720 | |
| Other financial charges | 652/9 | - | €90,346 | +€90,346 | |
| Profit (loss) for the period before taxes | 9903 | €127,504 | -€427,692 | -€555,196 | |
| Profit (loss) for the period | 9904 | €127,504 | -€427,692 | -€555,196 | |
| Profit (loss) for the period to be appropriated | 9905 | €127,504 | -€427,692 | -€555,196 |
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 10 October 2026 via checked.be.