BST: what changed
Two fiscal 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.
BST
Largest movements
- Cash -€59,183
down €59,183 (-34.9%), from €169,534 to €110,351
mainly Investment in fixed assets (net) (-€63,282) and Accrued charges and deferred income (-€8,400)
- Tangible fixed assets +€54,907
up €54,907 (+494.8%), from €11,096 to €66,004
of which Furniture and vehicles: +€57,798
- Reserves +€14,418
up €14,418 (+8.9%), from €161,405 to €175,823
of which Distributable reserves: +€14,418
- Accrued charges and deferred income -€8,400
down €8,400 (-100.0%), from €8,400 to €0
- Tax, wage and social debts -€7,848
down €7,848 (-22.4%), from €35,068 to €27,220
of which Taxes: -€7,848
- Depreciation +€4,928
up €4,928 (+142.9%), from €3,447 to €8,375
- Gross operating margin -€4,558
down €4,558 (-10.4%), from €43,812 to €39,254
- Financial charges +€3,440
up €3,440 (+158.6%), from €2,169 to €5,610
of which Non-recurring financial charges: +€3,934
- Taxes -€2,609
down €2,609 (-23.2%), from €11,231 to €8,621
- Other operating charges +€1,455
up €1,455 (+187.8%), from €775 to €2,230
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 | €211,975 | €209,500 | -€2,475 | -1.2% |
| Fixed assets | 21/28 | €11,096 | €66,004 | +€54,907 | +494.8% |
| Tangible fixed assets | 22/27 | €11,096 | €66,004 | +€54,907 | +494.8% |
| Plant, machinery and equipment | 23 | €6,918 | €4,027 | -€2,891 | -41.8% |
| Furniture and vehicles | 24 | €4,178 | €61,976 | +€57,798 | +1383.3% |
| Current assets | 29/58 | €200,879 | €143,496 | -€57,383 | -28.6% |
| Amounts receivable within one year | 40/41 | €29,833 | €30,985 | +€1,152 | +3.9% |
| Trade receivables | 40 | €29,064 | €28,564 | -€500 | -1.7% |
| Other amounts receivable | 41 | €769 | €2,421 | +€1,652 | +214.8% |
| Cash at bank and in hand | 54/58 | €169,534 | €110,351 | -€59,183 | -34.9% |
| Deferred charges and accrued income | 490/1 | €1,512 | €2,161 | +€648 | +42.9% |
| Total equity and liabilities | 10/49 | €211,975 | €209,500 | -€2,475 | -1.2% |
| Equity | 10/15 | €167,605 | €182,023 | +€14,418 | +8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €161,405 | €175,823 | +€14,418 | +8.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €159,545 | €173,963 | +€14,418 | +9.0% |
| Amounts payable | 17/49 | €44,371 | €27,477 | -€16,894 | -38.1% |
| Amounts payable within one year | 42/48 | €35,971 | €27,477 | -€8,494 | -23.6% |
| Trade debts | 44 | €513 | €0 | -€513 | -100.0% |
| Suppliers | 440/4 | €513 | €0 | -€513 | -100.0% |
| Taxes, remuneration and social security | 45 | €35,068 | €27,220 | -€7,848 | -22.4% |
| Taxes | 450/3 | €25,828 | €17,980 | -€7,848 | -30.4% |
| Remuneration and social security | 454/9 | €9,240 | €9,240 | = | 0.0% |
| Other amounts payable | 47/48 | €389 | €257 | -€133 | -34.1% |
| Accrued charges and deferred income | 492/3 | €8,400 | €0 | -€8,400 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,447 | €8,375 | +€4,928 | +142.9% |
| Other operating charges | 640/8 | €775 | €2,230 | +€1,455 | +187.8% |
| Gross operating margin | 9900 | €43,812 | €39,254 | -€4,558 | -10.4% |
| Operating profit (loss) | 9901 | €39,590 | €28,650 | -€10,941 | -27.6% |
| Financial income | 75/76B | €238 | €0 | -€238 | -100.0% |
| Recurring financial income | 75 | €238 | €0 | -€238 | -100.0% |
| Financial charges | 65/66B | €2,169 | €5,610 | +€3,440 | +158.6% |
| Recurring financial charges | 65 | €2,169 | €1,676 | -€494 | -22.8% |
| Non-recurring financial charges | 66B | - | €3,934 | +€3,934 | |
| Profit (loss) for the period before taxes | 9903 | €37,659 | €23,040 | -€14,619 | -38.8% |
| Income taxes | 67/77 | €11,231 | €8,621 | -€2,609 | -23.2% |
| Profit (loss) for the period | 9904 | €26,428 | €14,418 | -€12,010 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,428 | €14,418 | -€12,010 | -45.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.