BSM-69: 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.
BSM-69
Largest movements
- Cash +€62,063
up €62,063 (+19.6%), from €316,909 to €378,972
mainly Net result for the year (+€80,702) and Depreciation (+€10,884)
- Profit (loss) carried forward +€80,702
up €80,702 (+19.5%), from €414,036 to €494,738
- Debts after one year -€26,397
down €26,397 (-47.5%), from €55,537 to €29,140
- Financial income -€12,237
down €12,237 (-16.1%), from €75,828 to €63,590
- Depreciation +€5,953
up €5,953 (+120.7%), from €4,931 to €10,884
- Taxes -€5,913
down €5,913 (-40.9%), from €14,443 to €8,530
- Gross operating margin -€5,643
down €5,643 (-8.0%), from €70,866 to €65,223
- Financial charges -€4,248
down €4,248 (-13.9%), from €30,510 to €26,262
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 | €1,009,573 | €1,056,411 | +€46,838 | +4.6% |
| Formation expenses | 20 | €232 | €0 | -€232 | -100.0% |
| Fixed assets | 21/28 | €681,542 | €671,191 | -€10,351 | -1.5% |
| Tangible fixed assets | 22/27 | €278,238 | €267,886 | -€10,351 | -3.7% |
| Land and buildings | 22 | €273,469 | €265,147 | -€8,322 | -3.0% |
| Plant, machinery and equipment | 23 | €264 | €0 | -€264 | -100.0% |
| Furniture and vehicles | 24 | €4,505 | €2,739 | -€1,765 | -39.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €403,305 | €403,305 | = | 0.0% |
| Current assets | 29/58 | €327,798 | €385,220 | +€57,421 | +17.5% |
| Amounts receivable within one year | 40/41 | €990 | €3,381 | +€2,391 | +241.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €990 | €3,381 | +€2,391 | +241.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €316,909 | €378,972 | +€62,063 | +19.6% |
| Deferred charges and accrued income | 490/1 | €9,899 | €2,866 | -€7,033 | -71.0% |
| Total equity and liabilities | 10/49 | €1,009,573 | €1,056,411 | +€46,838 | +4.6% |
| Equity | 10/15 | €417,036 | €497,738 | +€80,702 | +19.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €414,036 | €494,738 | +€80,702 | +19.5% |
| Amounts payable | 17/49 | €592,537 | €558,673 | -€33,864 | -5.7% |
| Amounts payable after more than one year | 17 | €55,537 | €29,140 | -€26,397 | -47.5% |
| Financial debts | 170/4 | €55,537 | €29,140 | -€26,397 | -47.5% |
| Amounts payable within one year | 42/48 | €536,973 | €529,524 | -€7,449 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €27,963 | €26,121 | -€1,841 | -6.6% |
| Trade debts | 44 | €2,815 | €1,443 | -€1,372 | -48.7% |
| Suppliers | 440/4 | €2,815 | €1,443 | -€1,372 | -48.7% |
| Taxes, remuneration and social security | 45 | €9,029 | €6,439 | -€2,590 | -28.7% |
| Taxes | 450/3 | €9,029 | €6,439 | -€2,590 | -28.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €497,167 | €495,521 | -€1,646 | -0.3% |
| Accrued charges and deferred income | 492/3 | €26 | €9 | -€17 | -66.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,931 | €10,884 | +€5,953 | +120.7% |
| Other operating charges | 640/8 | €1,014 | €2,435 | +€1,421 | +140.1% |
| Gross operating margin | 9900 | €70,866 | €65,223 | -€5,643 | -8.0% |
| Operating profit (loss) | 9901 | €64,921 | €51,904 | -€13,018 | -20.1% |
| Financial income | 75/76B | €75,828 | €63,590 | -€12,237 | -16.1% |
| Recurring financial income | 75 | €75,828 | €63,590 | -€12,237 | -16.1% |
| Financial charges | 65/66B | €30,510 | €26,262 | -€4,248 | -13.9% |
| Recurring financial charges | 65 | €30,510 | €26,262 | -€4,248 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €110,239 | €89,232 | -€21,007 | -19.1% |
| Income taxes | 67/77 | €14,443 | €8,530 | -€5,913 | -40.9% |
| Profit (loss) for the period | 9904 | €95,796 | €80,702 | -€15,094 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,796 | €80,702 | -€15,094 | -15.8% |
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.