BST PARTNERS: 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.
What changed
BST PARTNERS
NACE 69.203, Activities of company auditors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€534,011
2024 · €564,900-€30,889
Equity
€2.6m
2024 · €2.4m+€188,581
Cash
€19,125
2024 · €9,221+€9,905
Balance sheet total
€3.2m
2024 · €3.0m+€105,927
Largest movements
Assets
- Current investments +€106,034
up €106,034 (+18.1%), from €585,302 to €691,336
Equity and liabilities
- Reserves +€345,776
up €345,776 (+94.9%), from €364,375 to €710,151
of which Non-distributable reserves: +€345,776
- Profit (loss) carried forward -€157,195
down €157,195 (-8.2%), from €1.9m to €1.8m
- Debts after one year -€140,000
no longer reported in 2025 (was €140,000)
- Other debts +€59,061
up €59,061 (+16.7%), from €352,995 to €412,056
Income statement
- Gross operating margin -€48,416
down €48,416 (-6.4%), from €752,659 to €704,243
- Taxes -€9,665
down €9,665 (-5.1%), from €187,843 to €178,178
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.
Result 2024
€564,900
Gross operating margin
-€48,416
Other operating charges
-€31
Financial income
+€3,120
Financial charges
+€4,773
Taxes
+€9,665
Result 2025
€534,011
raises the resultlowers the result
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.
From operations
+€603,577
Investment
-€108,242
Financing
-€485,430
Cash 2024
€9,221
From operations (derived)
+€603,577
Net result for the year
+€534,011
Receivables after one year
+€10,257
Receivables within one year
-€419
Deferred charges and accrued income
+€2,382
Trade debts
-€6,950
Tax, wage and social debts
+€6,723
Other debts
+€59,061
Accrued charges and deferred income
-€1,489
Investment (derived)
-€108,242
Investment in fixed assets (net)
-€2,209
Current investments
-€106,034
Financing
-€485,430
Debts after one year
-€140,000
Contributions, distributions and other
-€345,430
Cash 2025
€19,125
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,046,298 | €3,152,225 | +€105,927 | +3.5% |
| Fixed assets | 21/28 | €2,422,117 | €2,424,326 | +€2,209 | +0.1% |
| Financial fixed assets | 28 | €2,422,117 | €2,424,326 | +€2,209 | +0.1% |
| Current assets | 29/58 | €624,181 | €727,900 | +€103,718 | +16.6% |
| Amounts receivable after more than one year | 29 | €17,872 | €7,615 | -€10,257 | -57.4% |
| Other amounts receivable | 291 | €17,872 | €7,615 | -€10,257 | -57.4% |
| Amounts receivable within one year | 40/41 | €9,404 | €9,823 | +€419 | +4.5% |
| Trade receivables | 40 | €8,374 | €8,648 | +€275 | +3.3% |
| Other amounts receivable | 41 | €1,030 | €1,175 | +€144 | +14.0% |
| Current investments | 50/53 | €585,302 | €691,336 | +€106,034 | +18.1% |
| Cash at bank and in hand | 54/58 | €9,221 | €19,125 | +€9,905 | +107% |
| Deferred charges and accrued income | 490/1 | €2,382 | - | -€2,382 | |
| Total equity and liabilities | 10/49 | €3,046,298 | €3,152,225 | +€105,927 | +3.5% |
| Equity | 10/15 | €2,404,158 | €2,592,739 | +€188,581 | +7.8% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €364,375 | €710,151 | +€345,776 | +94.9% |
| Non-distributable reserves | 130/1 | €353,175 | €698,951 | +€345,776 | +97.9% |
| Own shares acquired | 1312 | €335,302 | €691,336 | +€356,034 | +106% |
| Financial assistance | 1313 | €17,872 | €7,615 | -€10,257 | -57.4% |
| Distributable reserves | 133 | €11,200 | €11,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,927,784 | €1,770,588 | -€157,195 | -8.2% |
| Amounts payable | 17/49 | €642,140 | €559,486 | -€82,654 | -12.9% |
| Amounts payable after more than one year | 17 | €140,000 | - | -€140,000 | |
| Financial debts | 170/4 | €140,000 | - | -€140,000 | |
| Amounts payable within one year | 42/48 | €499,958 | €558,792 | +€58,834 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €140,000 | €140,000 | = | 0.0% |
| Trade debts | 44 | €6,950 | - | -€6,950 | |
| Suppliers | 440/4 | €6,950 | €0 | -€6,950 | -100% |
| Taxes, remuneration and social security | 45 | €13 | €6,736 | +€6,723 | +51,918% |
| Taxes | 450/3 | €13 | €6,736 | +€6,723 | +51,918% |
| Other amounts payable | 47/48 | €352,995 | €412,056 | +€59,061 | +16.7% |
| Accrued charges and deferred income | 492/3 | €2,182 | €694 | -€1,489 | -68.2% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €752,659 | €704,243 | -€48,416 | -6.4% |
| Operating profit (loss) | 9901 | €751,692 | €703,245 | -€48,447 | -6.4% |
| Financial income | 75/76B | €11,648 | €14,768 | +€3,120 | +26.8% |
| Recurring financial income | 75 | €9,822 | €14,768 | +€4,946 | +50.4% |
| Non-recurring financial income | 76B | €1,826 | - | -€1,826 | |
| Financial charges | 65/66B | €10,597 | €5,824 | -€4,773 | -45.0% |
| Recurring financial charges | 65 | €10,597 | €5,824 | -€4,773 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €752,743 | €712,189 | -€40,554 | -5.4% |
| Income taxes | 67/77 | €187,843 | €178,178 | -€9,665 | -5.1% |
| Profit (loss) for the period | 9904 | €564,900 | €534,011 | -€30,889 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €564,900 | €534,011 | -€30,889 | -5.5% |
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 16 October 2026 via checked.be.