BSM Management: 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 Management
Largest movements
- Tangible fixed assets +€19,469
up €19,469 (+1683.0%), from €1,157 to €20,626
of which Furniture and vehicles: +€19,784
- Cash -€7,516
down €7,516 (-10.0%), from €75,242 to €67,726
mainly Contributions, distributions and other (-€49,550) and Investment in fixed assets (net) (-€20,444)
- Deferred charges and accrued income +€1,355
up €1,355 (+57.5%), from €2,357 to €3,712
- Other debts +€49,550
new in 2025: €49,550
- Reserves -€36,850
down €36,850 (-48.2%), from €76,375 to €39,525
- Trade debts +€2,259
up €2,259 (+19304.3%), from €12 to €2,270
- Tax, wage and social debts -€1,972
down €1,972 (-29.9%), from €6,595 to €4,623
- Gross operating margin -€2,584
down €2,584 (-11.0%), from €23,564 to €20,980
- Taxes -€1,932
down €1,932 (-24.5%), from €7,899 to €5,967
- Depreciation +€436
up €436 (+80.8%), from €539 to €975
- Other operating charges +€400
up €400 (+38.8%), from €1,033 to €1,434
- Financial income -€292
down €292 (-44.3%), from €659 to €367
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 | €91,316 | €104,273 | +€12,957 | +14.2% |
| Fixed assets | 21/28 | €1,157 | €20,626 | +€19,469 | +1683.0% |
| Tangible fixed assets | 22/27 | €1,157 | €20,626 | +€19,469 | +1683.0% |
| Land and buildings | 22 | €945 | €630 | -€315 | -33.3% |
| Furniture and vehicles | 24 | €212 | €19,996 | +€19,784 | +9339.5% |
| Current assets | 29/58 | €90,159 | €83,648 | -€6,511 | -7.2% |
| Amounts receivable within one year | 40/41 | €12,560 | €12,209 | -€351 | -2.8% |
| Trade receivables | 40 | €12,560 | €10,566 | -€1,994 | -15.9% |
| Other amounts receivable | 41 | - | €1,643 | +€1,643 | |
| Cash at bank and in hand | 54/58 | €75,242 | €67,726 | -€7,516 | -10.0% |
| Deferred charges and accrued income | 490/1 | €2,357 | €3,712 | +€1,355 | +57.5% |
| Total equity and liabilities | 10/49 | €91,316 | €104,273 | +€12,957 | +14.2% |
| Equity | 10/15 | €84,567 | €47,720 | -€36,848 | -43.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €76,375 | €39,525 | -€36,850 | -48.2% |
| Distributable reserves | 133 | €76,375 | €39,525 | -€36,850 | -48.2% |
| Profit (loss) carried forward | 14 | €132 | €135 | +€2 | +1.7% |
| Amounts payable | 17/49 | €6,748 | €56,554 | +€49,805 | +738.0% |
| Amounts payable within one year | 42/48 | €6,607 | €56,444 | +€49,837 | +754.4% |
| Trade debts | 44 | €12 | €2,270 | +€2,259 | +19304.3% |
| Suppliers | 440/4 | €12 | €2,270 | +€2,259 | +19304.3% |
| Taxes, remuneration and social security | 45 | €6,595 | €4,623 | -€1,972 | -29.9% |
| Taxes | 450/3 | €6,595 | €4,623 | -€1,972 | -29.9% |
| Other amounts payable | 47/48 | - | €49,550 | +€49,550 | |
| Accrued charges and deferred income | 492/3 | €142 | €110 | -€32 | -22.4% |
| Non-recurring operating income | 76A | - | €6,232 | +€6,232 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €539 | €975 | +€436 | +80.8% |
| Other operating charges | 640/8 | €1,033 | €1,434 | +€400 | +38.8% |
| Gross operating margin | 9900 | €23,564 | €20,980 | -€2,584 | -11.0% |
| Operating profit (loss) | 9901 | €21,991 | €18,571 | -€3,421 | -15.6% |
| Financial income | 75/76B | €659 | €367 | -€292 | -44.3% |
| Recurring financial income | 75 | €659 | €367 | -€292 | -44.3% |
| Financial charges | 65/66B | €175 | €268 | +€93 | +53.2% |
| Recurring financial charges | 65 | €175 | €268 | +€93 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €22,475 | €18,670 | -€3,805 | -16.9% |
| Income taxes | 67/77 | €7,899 | €5,967 | -€1,932 | -24.5% |
| Profit (loss) for the period | 9904 | €14,576 | €12,702 | -€1,874 | -12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,576 | €12,702 | -€1,874 | -12.9% |
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 9 October 2026 via checked.be.