BX PUB: 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.
BX PUB
Largest movements
- Tangible fixed assets -€12,720
down €12,720 (-15.1%), from €84,437 to €71,717
of which Plant, machinery and equipment: -€7,062
- Financial fixed assets -€6,580
down €6,580 (-74.7%), from €8,810 to €2,230
- Receivables within one year +€6,201
up €6,201 (+35.5%), from €17,491 to €23,692
of which Other amounts receivable: +€6,580
- Debts after one year -€7,972
down €7,972 (-24.3%), from €32,860 to €24,888
- Tax, wage and social debts +€4,100
up €4,100 (+33.9%), from €12,079 to €16,179
- Short-term financial debts -€2,500
no longer reported in 2025 (was €2,500)
- Other debts -€2,479
down €2,479 (-9.8%), from €25,307 to €22,828
- Profit (loss) carried forward -€1,887
down €1,887 (-55.2%), from €3,418 to €1,531
- Financial charges +€3,086
up €3,086 (+251.9%), from €1,225 to €4,311
- Taxes +€2,448
new in 2025: €2,448
- Gross operating margin -€1,662
down €1,662 (-9.3%), from €17,918 to €16,256
- Other operating charges -€1,319
down €1,319 (-28.4%), from €4,645 to €3,326
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 | €110,738 | €98,075 | -€12,663 | -11.4% |
| Fixed assets | 21/28 | €93,247 | €73,947 | -€19,300 | -20.7% |
| Tangible fixed assets | 22/27 | €84,437 | €71,717 | -€12,720 | -15.1% |
| Land and buildings | 22 | €77,375 | €71,717 | -€5,658 | -7.3% |
| Plant, machinery and equipment | 23 | €7,062 | - | -€7,062 | |
| Financial fixed assets | 28 | €8,810 | €2,230 | -€6,580 | -74.7% |
| Current assets | 29/58 | €17,491 | €24,128 | +€6,637 | +37.9% |
| Amounts receivable within one year | 40/41 | €17,491 | €23,692 | +€6,201 | +35.5% |
| Trade receivables | 40 | €17,491 | €17,112 | -€379 | -2.2% |
| Other amounts receivable | 41 | - | €6,580 | +€6,580 | |
| Cash at bank and in hand | 54/58 | - | €436 | +€436 | |
| Total equity and liabilities | 10/49 | €110,738 | €98,075 | -€12,663 | -11.4% |
| Equity | 10/15 | €9,618 | €7,731 | -€1,887 | -19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,418 | €1,531 | -€1,887 | -55.2% |
| Amounts payable | 17/49 | €101,120 | €90,344 | -€10,776 | -10.7% |
| Amounts payable after more than one year | 17 | €32,860 | €24,888 | -€7,972 | -24.3% |
| Financial debts | 170/4 | €32,860 | €24,888 | -€7,972 | -24.3% |
| Amounts payable within one year | 42/48 | €68,260 | €65,456 | -€2,804 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €9,507 | €7,972 | -€1,535 | -16.1% |
| Financial debts | 43 | €2,500 | - | -€2,500 | |
| Credit institutions | 430/8 | €2,500 | - | -€2,500 | |
| Trade debts | 44 | €18,867 | €18,477 | -€390 | -2.1% |
| Suppliers | 440/4 | €18,867 | €18,477 | -€390 | -2.1% |
| Taxes, remuneration and social security | 45 | €12,079 | €16,179 | +€4,100 | +33.9% |
| Taxes | 450/3 | €12,079 | €16,179 | +€4,100 | +33.9% |
| Other amounts payable | 47/48 | €25,307 | €22,828 | -€2,479 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,058 | €8,058 | = | 0.0% |
| Other operating charges | 640/8 | €4,645 | €3,326 | -€1,319 | -28.4% |
| Gross operating margin | 9900 | €17,918 | €16,256 | -€1,662 | -9.3% |
| Operating profit (loss) | 9901 | €5,215 | €4,872 | -€343 | -6.6% |
| Financial charges | 65/66B | €1,225 | €4,311 | +€3,086 | +251.9% |
| Recurring financial charges | 65 | €1,225 | €4,311 | +€3,086 | +251.9% |
| Profit (loss) for the period before taxes | 9903 | €3,990 | €561 | -€3,429 | -85.9% |
| Income taxes | 67/77 | - | €2,448 | +€2,448 | |
| Profit (loss) for the period | 9904 | €3,990 | -€1,887 | -€5,877 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,990 | -€1,887 | -€5,877 |
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.