BSL-19: 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.
BSL-19
Largest movements
- Cash +€19,501
up €19,501 (+139%), from €14,045 to €33,546
mainly Trade debts (+€29,214) and Depreciation (+€18,868)
- Stocks and contracts -€5,236
down €5,236 (-62.6%), from €8,359 to €3,123
- Receivables within one year -€4,661
down €4,661 (-9.3%), from €50,097 to €45,437
of which Trade receivables: -€2,802
- Tangible fixed assets +€4,371
up €4,371 (+9.6%), from €45,390 to €49,761
of which Plant, machinery and equipment: +€3,986
- Intangible fixed assets -€2,500
down €2,500 (-23.1%), from €10,833 to €8,333
- Trade debts +€29,214
up €29,214 (+326%), from €8,966 to €38,180
- Current portion of long-term debt -€21,297
down €21,297 (-100%), from €21,297 to €0
- Advances received -€10,553
down €10,553 (-100%), from €10,553 to €0
- Reserves +€8,329
up €8,329 (+23.4%), from €35,618 to €43,947
- Tax, wage and social debts +€5,122
up €5,122 (+126%), from €4,078 to €9,200
of which Taxes: +€8,356
- Staff costs -€38,281
down €38,281 (-88.9%), from €43,043 to €4,762
- Gross operating margin -€25,157
down €25,157 (-31.0%), from €81,213 to €56,056
- Depreciation +€8,639
up €8,639 (+84.5%), from €10,228 to €18,868
- Financial charges +€6,810
up €6,810 (+180%), from €3,782 to €10,593
- Taxes +€2,179
up €2,179 (+31.8%), from €6,844 to €9,023
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.
Derived cash bridge
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 | €133,706 | €144,677 | +€10,971 | +8.2% |
| Fixed assets | 21/28 | €60,700 | €62,571 | +€1,871 | +3.1% |
| Intangible fixed assets | 21 | €10,833 | €8,333 | -€2,500 | -23.1% |
| Tangible fixed assets | 22/27 | €45,390 | €49,761 | +€4,371 | +9.6% |
| Plant, machinery and equipment | 23 | €2,707 | €6,693 | +€3,986 | +147% |
| Furniture and vehicles | 24 | €42,683 | €43,068 | +€385 | +0.9% |
| Financial fixed assets | 28 | €4,477 | €4,477 | = | 0.0% |
| Current assets | 29/58 | €73,006 | €82,106 | +€9,100 | +12.5% |
| Stocks and contracts in progress | 3 | €8,359 | €3,123 | -€5,236 | -62.6% |
| Stocks | 30/36 | €8,359 | €3,123 | -€5,236 | -62.6% |
| Amounts receivable within one year | 40/41 | €50,097 | €45,437 | -€4,661 | -9.3% |
| Trade receivables | 40 | €48,239 | €45,437 | -€2,802 | -5.8% |
| Other amounts receivable | 41 | €1,859 | €0 | -€1,859 | -100% |
| Cash at bank and in hand | 54/58 | €14,045 | €33,546 | +€19,501 | +139% |
| Deferred charges and accrued income | 490/1 | €505 | €0 | -€505 | -100% |
| Total equity and liabilities | 10/49 | €133,706 | €144,677 | +€10,971 | +8.2% |
| Equity | 10/15 | €54,168 | €62,497 | +€8,329 | +15.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €35,618 | €43,947 | +€8,329 | +23.4% |
| Distributable reserves | 133 | €35,618 | €43,947 | +€8,329 | +23.4% |
| Amounts payable | 17/49 | €79,538 | €82,180 | +€2,642 | +3.3% |
| Amounts payable after more than one year | 17 | €25,065 | €25,065 | = | 0.0% |
| Financial debts | 170/4 | €25,065 | €25,065 | = | 0.0% |
| Amounts payable within one year | 42/48 | €53,937 | €53,008 | -€929 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €21,297 | €0 | -€21,297 | -100% |
| Trade debts | 44 | €8,966 | €38,180 | +€29,214 | +326% |
| Suppliers | 440/4 | €8,966 | €38,180 | +€29,214 | +326% |
| Advances received on contracts in progress | 46 | €10,553 | €0 | -€10,553 | -100% |
| Taxes, remuneration and social security | 45 | €4,078 | €9,200 | +€5,122 | +126% |
| Taxes | 450/3 | €844 | €9,200 | +€8,356 | +990% |
| Remuneration and social security | 454/9 | €3,234 | €0 | -€3,234 | -100% |
| Other amounts payable | 47/48 | €9,043 | €5,628 | -€3,416 | -37.8% |
| Accrued charges and deferred income | 492/3 | €536 | €4,108 | +€3,572 | +666% |
| Remuneration, social security and pensions | 62 | €43,043 | €4,762 | -€38,281 | -88.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,228 | €18,868 | +€8,639 | +84.5% |
| Other operating charges | 640/8 | €2,501 | €4,502 | +€2,001 | +80.0% |
| Gross operating margin | 9900 | €81,213 | €56,056 | -€25,157 | -31.0% |
| Operating profit (loss) | 9901 | €25,440 | €27,925 | +€2,484 | +9.8% |
| Financial income | 75/76B | €128 | €19 | -€109 | -84.9% |
| Recurring financial income | 75 | €128 | €19 | -€109 | -84.9% |
| Financial charges | 65/66B | €3,782 | €10,593 | +€6,810 | +180% |
| Recurring financial charges | 65 | €3,782 | €10,593 | +€6,810 | +180% |
| Profit (loss) for the period before taxes | 9903 | €21,787 | €17,351 | -€4,435 | -20.4% |
| Income taxes | 67/77 | €6,844 | €9,023 | +€2,179 | +31.8% |
| Profit (loss) for the period | 9904 | €14,943 | €8,329 | -€6,614 | -44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,943 | €8,329 | -€6,614 | -44.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.