BXL 320: 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.
BXL 320
Largest movements
- Tangible fixed assets -€19,765
down €19,765 (-3.7%), from €532,277 to €512,511
- Cash -€16,350
down €16,350 (-63.0%), from €25,966 to €9,616
mainly Debts after one year (-€55,362) and Contributions, distributions and other (-€31,579)
- Debts after one year -€55,362
down €55,362 (-14.3%), from €388,469 to €333,106
of which Financial debts: -€366,803
- Profit (loss) carried forward +€53,029
new in 2025: €53,029
- Reserves -€31,579
down €31,579 (-25.6%), from €123,281 to €91,702
of which Distributable reserves: -€31,579
- Gross operating margin +€50,696
up €50,696 (+107.4%), from €47,213 to €97,909
- Taxes +€10,344
up €10,344 (+140.5%), from €7,360 to €17,704
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 | €565,154 | €529,159 | -€35,995 | -6.4% |
| Fixed assets | 21/28 | €532,277 | €512,511 | -€19,765 | -3.7% |
| Tangible fixed assets | 22/27 | €532,277 | €512,511 | -€19,765 | -3.7% |
| Land and buildings | 22 | €532,277 | €512,511 | -€19,765 | -3.7% |
| Current assets | 29/58 | €32,877 | €16,648 | -€16,230 | -49.4% |
| Amounts receivable within one year | 40/41 | €5,163 | €5,579 | +€417 | +8.1% |
| Trade receivables | 40 | €3,522 | €2,643 | -€879 | -25.0% |
| Other amounts receivable | 41 | €1,640 | €2,936 | +€1,296 | +79.0% |
| Cash at bank and in hand | 54/58 | €25,966 | €9,616 | -€16,350 | -63.0% |
| Deferred charges and accrued income | 490/1 | €1,749 | €1,452 | -€296 | -16.9% |
| Total equity and liabilities | 10/49 | €565,154 | €529,159 | -€35,995 | -6.4% |
| Equity | 10/15 | €148,281 | €169,731 | +€21,450 | +14.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Contributions outside capital | 11 | €25,000 | €25,000 | = | 0.0% |
| Other | 1109/19 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €123,281 | €91,702 | -€31,579 | -25.6% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €120,781 | €89,202 | -€31,579 | -26.1% |
| Profit (loss) carried forward | 14 | - | €53,029 | +€53,029 | |
| Amounts payable | 17/49 | €416,873 | €359,428 | -€57,445 | -13.8% |
| Amounts payable after more than one year | 17 | €388,469 | €333,106 | -€55,362 | -14.3% |
| Financial debts | 170/4 | €388,469 | €21,666 | -€366,803 | -94.4% |
| Other amounts payable | 178/9 | - | €311,440 | +€311,440 | |
| Amounts payable within one year | 42/48 | €27,124 | €26,321 | -€803 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €26,000 | €26,000 | = | 0.0% |
| Trade debts | 44 | €486 | €321 | -€165 | -34.0% |
| Suppliers | 440/4 | €486 | €321 | -€165 | -34.0% |
| Other amounts payable | 47/48 | €638 | €0 | -€638 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,280 | €0 | -€1,280 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,168 | €19,765 | +€597 | +3.1% |
| Other operating charges | 640/8 | €4,593 | €4,737 | +€144 | +3.1% |
| Gross operating margin | 9900 | €47,213 | €97,909 | +€50,696 | +107.4% |
| Operating profit (loss) | 9901 | €23,452 | €73,407 | +€49,955 | +213.0% |
| Financial charges | 65/66B | €1,725 | €2,674 | +€948 | +55.0% |
| Recurring financial charges | 65 | €1,725 | €2,674 | +€948 | +55.0% |
| Profit (loss) for the period before taxes | 9903 | €21,727 | €70,733 | +€49,006 | +225.6% |
| Income taxes | 67/77 | €7,360 | €17,704 | +€10,344 | +140.5% |
| Profit (loss) for the period | 9904 | €14,367 | €53,029 | +€38,662 | +269.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,367 | €53,029 | +€38,662 | +269.1% |
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.