BSV 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.
What changed
BSV Management
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€71,032
2024 · €93,958-€22,926
Equity
€539,661
2024 · €498,628+€41,033
Cash
€25,890
2024 · €38,250-€12,360
Balance sheet total
€1.8m
2024 · €1.8m-€48,054
Largest movements
Assets
- Tangible fixed assets -€19,067
down €19,067 (-1.1%), from €1.7m to €1.6m
of which Land and buildings: -€27,360
Equity and liabilities
- Debts after one year -€99,341
down €99,341 (-28.2%), from €352,664 to €253,323
- Profit (loss) carried forward +€41,033
up €41,033 (+8.5%), from €481,628 to €522,661
Income statement
- Turnover -€44,177
down €44,177 (-19.0%), from €233,005 to €188,828
- Depreciation +€39,165
new in 2025: €39,165
- Write-downs -€38,999
no longer reported in 2025 (was €38,999)
- Gross operating margin -€29,429
down €29,429 (-15.7%), from €187,924 to €158,495
- Purchases and services -€14,748
down €14,748 (-32.7%), from €45,081 to €30,333
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
€93,958
Gross operating margin
-€29,429
Depreciation
-€39,165
Write-downs
+€38,999
Other operating charges
-€928
Financial charges
-€3,140
Taxes
+€10,737
Result 2025
€71,032
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
+€124,596
Investment
-€18,158
Financing
-€118,798
Cash 2024
€38,250
From operations (derived)
+€124,596
Net result for the year
+€71,032
Depreciation
+€39,165
Receivables within one year
+€14,687
Trade debts
-€13,351
Tax, wage and social debts
-€4,569
Other debts
+€17,633
Investment (derived)
-€18,158
Investment in fixed assets (net)
-€18,158
Financing
-€118,798
Debts after one year
-€99,341
Current portion of long-term debt
+€10,542
Contributions, distributions and other
-€29,999
Cash 2025
€25,890
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,807,160 | €1,759,106 | -€48,054 | -2.7% |
| Fixed assets | 21/28 | €1,662,226 | €1,641,219 | -€21,007 | -1.3% |
| Intangible fixed assets | 21 | €1,940 | - | -€1,940 | |
| Tangible fixed assets | 22/27 | €1,660,286 | €1,641,219 | -€19,067 | -1.1% |
| Land and buildings | 22 | €1,638,480 | €1,611,120 | -€27,360 | -1.7% |
| Plant, machinery and equipment | 23 | €6,448 | €6,383 | -€65 | -1.0% |
| Furniture and vehicles | 24 | €1,232 | €11,688 | +€10,456 | +849% |
| Other tangible fixed assets | 26 | €14,126 | €12,028 | -€2,098 | -14.9% |
| Current assets | 29/58 | €144,934 | €117,887 | -€27,047 | -18.7% |
| Amounts receivable within one year | 40/41 | €106,684 | €91,997 | -€14,687 | -13.8% |
| Trade receivables | 40 | €106,684 | €84,332 | -€22,352 | -21.0% |
| Other amounts receivable | 41 | - | €7,665 | +€7,665 | |
| Cash at bank and in hand | 54/58 | €38,250 | €25,890 | -€12,360 | -32.3% |
| Total equity and liabilities | 10/49 | €1,807,160 | €1,759,106 | -€48,054 | -2.7% |
| Equity | 10/15 | €498,628 | €539,661 | +€41,033 | +8.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Capital | 10 | - | €15,000 | +€15,000 | |
| Issued capital | 100 | - | €20,000 | +€20,000 | |
| Uncalled capital | 101 | - | €5,000 | +€5,000 | |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €481,628 | €522,661 | +€41,033 | +8.5% |
| Provisions and deferred taxes | 16 | €20,000 | €20,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €20,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,288,532 | €1,199,445 | -€89,087 | -6.9% |
| Amounts payable after more than one year | 17 | €352,664 | €253,323 | -€99,341 | -28.2% |
| Financial debts | 170/4 | €352,664 | €253,323 | -€99,341 | -28.2% |
| Amounts payable within one year | 42/48 | €935,868 | €946,122 | +€10,254 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €88,800 | €99,342 | +€10,542 | +11.9% |
| Trade debts | 44 | €74,556 | €61,205 | -€13,351 | -17.9% |
| Suppliers | 440/4 | €74,556 | €61,205 | -€13,351 | -17.9% |
| Taxes, remuneration and social security | 45 | €4,569 | - | -€4,569 | |
| Taxes | 450/3 | €4,569 | - | -€4,569 | |
| Other amounts payable | 47/48 | €767,943 | €785,576 | +€17,633 | +2.3% |
| Turnover | 70 | €233,005 | €188,828 | -€44,177 | -19.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €45,081 | €30,333 | -€14,748 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €39,165 | +€39,165 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €38,999 | - | -€38,999 | |
| Other operating charges | 640/8 | €11,449 | €12,377 | +€928 | +8.1% |
| Gross operating margin | 9900 | €187,924 | €158,495 | -€29,429 | -15.7% |
| Operating profit (loss) | 9901 | €137,476 | €106,952 | -€30,524 | -22.2% |
| Financial charges | 65/66B | €18,770 | €21,910 | +€3,140 | +16.7% |
| Recurring financial charges | 65 | €18,770 | €21,910 | +€3,140 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €118,706 | €85,042 | -€33,664 | -28.4% |
| Income taxes | 67/77 | €24,748 | €14,011 | -€10,737 | -43.4% |
| Profit (loss) for the period | 9904 | €93,958 | €71,032 | -€22,926 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €93,958 | €71,032 | -€22,926 | -24.4% |
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 20 October 2026 via checked.be.