BSM-Salewsky: 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-Salewsky
Largest movements
- Cash +€24,647
up €24,647 (+36.1%), from €68,206 to €92,853
mainly Net result for the year (+€23,954) and Stocks and contracts (+€8,767)
- Stocks and contracts -€8,767
down €8,767 (-11.6%), from €75,636 to €66,869
of which Contracts in progress: -€5,000
- Tangible fixed assets +€4,127
up €4,127 (+7.7%), from €53,392 to €57,519
of which Land and buildings: +€4,331
- Receivables within one year +€3,656
up €3,656 (+155%), from €2,357 to €6,013
of which Other amounts receivable: +€3,663
- Profit (loss) carried forward +€23,954
up €23,954 (+19.4%), from €123,255 to €147,208
- Trade debts +€3,631
up €3,631 (+81.2%), from €4,470 to €8,101
- Tax, wage and social debts -€3,355
down €3,355 (-15.3%), from €21,860 to €18,505
of which Remuneration and social security: -€4,128
- Gross operating margin +€10,255
up €10,255 (+11.9%), from €86,380 to €96,635
- Staff costs -€7,002
down €7,002 (-11.0%), from €63,775 to €56,773
- Taxes +€3,274
up €3,274 (+109%), from €3,013 to €6,287
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 | €203,029 | €226,715 | +€23,685 | +11.7% |
| Fixed assets | 21/28 | €53,577 | €57,703 | +€4,127 | +7.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €53,392 | €57,519 | +€4,127 | +7.7% |
| Land and buildings | 22 | €48,722 | €53,053 | +€4,331 | +8.9% |
| Plant, machinery and equipment | 23 | €3,601 | €3,734 | +€134 | +3.7% |
| Furniture and vehicles | 24 | €1,069 | €731 | -€338 | -31.6% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €149,453 | €169,011 | +€19,559 | +13.1% |
| Stocks and contracts in progress | 3 | €75,636 | €66,869 | -€8,767 | -11.6% |
| Stocks | 30/36 | €65,636 | €61,869 | -€3,767 | -5.7% |
| Contracts in progress | 37 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €2,357 | €6,013 | +€3,656 | +155% |
| Trade receivables | 40 | €7 | - | -€7 | |
| Other amounts receivable | 41 | €2,350 | €6,013 | +€3,663 | +156% |
| Cash at bank and in hand | 54/58 | €68,206 | €92,853 | +€24,647 | +36.1% |
| Deferred charges and accrued income | 490/1 | €3,254 | €3,277 | +€23 | +0.7% |
| Total equity and liabilities | 10/49 | €203,029 | €226,715 | +€23,685 | +11.7% |
| Equity | 10/15 | €159,948 | €183,902 | +€23,954 | +15.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €18,102 | €18,102 | = | 0.0% |
| Distributable reserves | 133 | €18,102 | €18,102 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,255 | €147,208 | +€23,954 | +19.4% |
| Amounts payable | 17/49 | €43,081 | €42,813 | -€268 | -0.6% |
| Amounts payable within one year | 42/48 | €43,081 | €42,813 | -€268 | -0.6% |
| Trade debts | 44 | €4,470 | €8,101 | +€3,631 | +81.2% |
| Suppliers | 440/4 | €4,470 | €8,101 | +€3,631 | +81.2% |
| Taxes, remuneration and social security | 45 | €21,860 | €18,505 | -€3,355 | -15.3% |
| Taxes | 450/3 | €12,214 | €12,988 | +€773 | +6.3% |
| Remuneration and social security | 454/9 | €9,646 | €5,518 | -€4,128 | -42.8% |
| Other amounts payable | 47/48 | €16,751 | €16,206 | -€545 | -3.3% |
| Remuneration, social security and pensions | 62 | €63,775 | €56,773 | -€7,002 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,974 | €7,063 | +€90 | +1.3% |
| Other operating charges | 640/8 | €2,455 | €2,530 | +€75 | +3.0% |
| Gross operating margin | 9900 | €86,380 | €96,635 | +€10,255 | +11.9% |
| Operating profit (loss) | 9901 | €13,176 | €30,269 | +€17,093 | +130% |
| Financial income | 75/76B | €99 | €691 | +€592 | +598% |
| Recurring financial income | 75 | €99 | €691 | +€592 | +598% |
| Financial charges | 65/66B | €492 | €719 | +€227 | +46.0% |
| Recurring financial charges | 65 | €492 | €719 | +€227 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | €12,783 | €30,241 | +€17,458 | +137% |
| Income taxes | 67/77 | €3,013 | €6,287 | +€3,274 | +109% |
| Profit (loss) for the period | 9904 | €9,770 | €23,954 | +€14,184 | +145% |
| Profit (loss) for the period to be appropriated | 9905 | €9,770 | €23,954 | +€14,184 | +145% |
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 23 October 2026 via checked.be.