BSO SECURITY SOLUTIONS: 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.
BSO SECURITY SOLUTIONS
Largest movements
- Stocks and contracts +€91,671
up €91,671 (+15.5%), from €591,017 to €682,688
- Cash -€70,472
down €70,472 (-66.0%), from €106,818 to €36,347
mainly Stocks and contracts (-€91,671) and Receivables within one year (-€42,233)
- Receivables within one year +€42,233
up €42,233 (+26.2%), from €160,987 to €203,220
of which Trade receivables: +€42,233
- Receivables after one year +€20,021
up €20,021 (+59.1%), from €33,863 to €53,883
- Debts after one year +€75,990
up €75,990 (+14.8%), from €512,890 to €588,881
- Trade debts -€17,491
down €17,491 (-13.4%), from €130,793 to €113,302
- Reserves +€16,004
up €16,004 (+5.4%), from €295,197 to €311,201
of which Distributable reserves: +€16,004
- Tax, wage and social debts +€13,730
up €13,730 (+29.4%), from €46,771 to €60,501
of which Taxes: +€13,506
- Gross operating margin +€55,943
up €55,943 (+17.9%), from €312,227 to €368,171
- Staff costs +€19,387
up €19,387 (+7.9%), from €245,774 to €265,161
- Financial income -€7,770
down €7,770 (-90.3%), from €8,607 to €838
- Taxes +€7,701
up €7,701 (+199.5%), from €3,860 to €11,560
- Write-downs +€4,673
no longer reported in 2025 (was -€4,673)
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 | €1,163,781 | €1,233,670 | +€69,889 | +6.0% |
| Fixed assets | 21/28 | €266,208 | €252,442 | -€13,766 | -5.2% |
| Intangible fixed assets | 21 | €2,576 | €1,786 | -€790 | -30.7% |
| Tangible fixed assets | 22/27 | €257,292 | €245,556 | -€11,736 | -4.6% |
| Plant, machinery and equipment | 23 | €32,594 | €59,588 | +€26,994 | +82.8% |
| Furniture and vehicles | 24 | €23,784 | €15,100 | -€8,685 | -36.5% |
| Leasing and similar rights | 25 | €35,295 | €15,635 | -€19,660 | -55.7% |
| Other tangible fixed assets | 26 | €165,619 | €155,233 | -€10,386 | -6.3% |
| Financial fixed assets | 28 | €6,340 | €5,100 | -€1,240 | -19.6% |
| Current assets | 29/58 | €897,573 | €981,228 | +€83,655 | +9.3% |
| Amounts receivable after more than one year | 29 | €33,863 | €53,883 | +€20,021 | +59.1% |
| Other amounts receivable | 291 | €33,863 | €53,883 | +€20,021 | +59.1% |
| Stocks and contracts in progress | 3 | €591,017 | €682,688 | +€91,671 | +15.5% |
| Stocks | 30/36 | €591,017 | €682,688 | +€91,671 | +15.5% |
| Amounts receivable within one year | 40/41 | €160,987 | €203,220 | +€42,233 | +26.2% |
| Trade receivables | 40 | €157,347 | €199,580 | +€42,233 | +26.8% |
| Other amounts receivable | 41 | €3,640 | €3,640 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €106,818 | €36,347 | -€70,472 | -66.0% |
| Deferred charges and accrued income | 490/1 | €4,889 | €5,090 | +€201 | +4.1% |
| Total equity and liabilities | 10/49 | €1,163,781 | €1,233,670 | +€69,889 | +6.0% |
| Equity | 10/15 | €395,197 | €411,201 | +€16,004 | +4.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €295,197 | €311,201 | +€16,004 | +5.4% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €285,197 | €301,201 | +€16,004 | +5.6% |
| Amounts payable | 17/49 | €768,584 | €822,468 | +€53,885 | +7.0% |
| Amounts payable after more than one year | 17 | €512,890 | €588,881 | +€75,990 | +14.8% |
| Financial debts | 170/4 | €512,890 | €588,881 | +€75,990 | +14.8% |
| Amounts payable within one year | 42/48 | €255,694 | €233,588 | -€22,106 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €46,994 | €38,315 | -€8,679 | -18.5% |
| Financial debts | 43 | €27,750 | €20,090 | -€7,660 | -27.6% |
| Credit institutions | 430/8 | €27,750 | €20,090 | -€7,660 | -27.6% |
| Trade debts | 44 | €130,793 | €113,302 | -€17,491 | -13.4% |
| Suppliers | 440/4 | €130,793 | €113,302 | -€17,491 | -13.4% |
| Taxes, remuneration and social security | 45 | €46,771 | €60,501 | +€13,730 | +29.4% |
| Taxes | 450/3 | €21,946 | €35,452 | +€13,506 | +61.5% |
| Remuneration and social security | 454/9 | €24,825 | €25,049 | +€224 | +0.9% |
| Other amounts payable | 47/48 | €3,385 | €1,379 | -€2,006 | -59.3% |
| Remuneration, social security and pensions | 62 | €245,774 | €265,161 | +€19,387 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,082 | €47,943 | +€1,860 | +4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,673 | - | +€4,673 | |
| Other operating charges | 640/8 | €10,342 | €6,299 | -€4,044 | -39.1% |
| Gross operating margin | 9900 | €312,227 | €368,171 | +€55,943 | +17.9% |
| Operating profit (loss) | 9901 | €14,701 | €48,768 | +€34,068 | +231.7% |
| Financial income | 75/76B | €8,607 | €838 | -€7,770 | -90.3% |
| Recurring financial income | 75 | €8,607 | €838 | -€7,770 | -90.3% |
| Financial charges | 65/66B | €22,109 | €22,041 | -€68 | -0.3% |
| Recurring financial charges | 65 | €22,109 | €22,041 | -€68 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €1,199 | €27,565 | +€26,366 | +2199.2% |
| Income taxes | 67/77 | €3,860 | €11,560 | +€7,701 | +199.5% |
| Profit (loss) for the period | 9904 | -€2,661 | €16,004 | +€18,665 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,661 | €16,004 | +€18,665 |
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.