BXP: 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.
BXP
Largest movements
- Cash -€84,956
down €84,956 (-41.7%), from €203,756 to €118,801
mainly Receivables within one year (-€80,832) and Tax, wage and social debts (-€21,718)
- Receivables within one year +€80,832
up €80,832 (+29.2%), from €277,269 to €358,101
of which Trade receivables: +€61,948
- Deferred charges and accrued income +€7,678
up €7,678 (+492%), from €1,560 to €9,238
- Reserves +€43,149
up €43,149 (+36.9%), from €116,892 to €160,040
of which Distributable reserves: +€43,149
- Tax, wage and social debts -€21,718
down €21,718 (-63.4%), from €34,258 to €12,540
- Trade debts -€13,023
down €13,023 (-6.5%), from €201,489 to €188,467
- Gross operating margin +€18,779
up €18,779 (+36.5%), from €51,513 to €70,293
- Taxes +€4,309
up €4,309 (+34.4%), from €12,540 to €16,850
- Financial charges -€783
down €783 (-8.5%), from €9,244 to €8,461
of which Financial charges: -€890
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €495,752 | €500,337 | +€4,585 | +0.9% |
| Fixed assets | 21/28 | €13,167 | €14,198 | +€1,031 | +7.8% |
| Tangible fixed assets | 22/27 | €3,021 | €3,730 | +€709 | +23.5% |
| Furniture and vehicles | 24 | €3,021 | €2,244 | -€776 | -25.7% |
| Other tangible fixed assets | 26 | - | €1,486 | +€1,486 | |
| Financial fixed assets | 28 | €10,146 | €10,468 | +€322 | +3.2% |
| Current assets | 29/58 | €482,585 | €486,139 | +€3,554 | +0.7% |
| Amounts receivable within one year | 40/41 | €277,269 | €358,101 | +€80,832 | +29.2% |
| Trade receivables | 40 | €237,377 | €299,325 | +€61,948 | +26.1% |
| Other amounts receivable | 41 | €39,891 | €58,776 | +€18,884 | +47.3% |
| Cash at bank and in hand | 54/58 | €203,756 | €118,801 | -€84,956 | -41.7% |
| Deferred charges and accrued income | 490/1 | €1,560 | €9,238 | +€7,678 | +492% |
| Total equity and liabilities | 10/49 | €495,752 | €500,337 | +€4,585 | +0.9% |
| Equity | 10/15 | €135,492 | €178,640 | +€43,149 | +31.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,892 | €160,040 | +€43,149 | +36.9% |
| Non-distributable reserves | 130/1 | €750 | €750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €750 | €750 | = | 0.0% |
| Distributable reserves | 133 | €116,142 | €159,290 | +€43,149 | +37.2% |
| Amounts payable | 17/49 | €360,260 | €321,697 | -€38,563 | -10.7% |
| Amounts payable within one year | 42/48 | €360,260 | €321,697 | -€38,563 | -10.7% |
| Trade debts | 44 | €201,489 | €188,467 | -€13,023 | -6.5% |
| Suppliers | 440/4 | €201,489 | €188,467 | -€13,023 | -6.5% |
| Taxes, remuneration and social security | 45 | €34,258 | €12,540 | -€21,718 | -63.4% |
| Taxes | 450/3 | €34,258 | €12,540 | -€21,718 | -63.4% |
| Other amounts payable | 47/48 | €124,513 | €120,690 | -€3,823 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €699 | €1,096 | +€397 | +56.7% |
| Other operating charges | 640/8 | €485 | €739 | +€254 | +52.4% |
| Gross operating margin | 9900 | €51,513 | €70,293 | +€18,779 | +36.5% |
| Operating profit (loss) | 9901 | €50,329 | €68,458 | +€18,129 | +36.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €9,244 | €8,461 | -€783 | -8.5% |
| Recurring financial charges | 65 | €9,244 | €8,354 | -€890 | -9.6% |
| Non-recurring financial charges | 66B | - | €107 | +€107 | |
| Profit (loss) for the period before taxes | 9903 | €41,085 | €59,998 | +€18,913 | +46.0% |
| Income taxes | 67/77 | €12,540 | €16,850 | +€4,309 | +34.4% |
| Profit (loss) for the period | 9904 | €28,545 | €43,149 | +€14,603 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,545 | €43,149 | +€14,603 | +51.2% |
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 14 October 2026 via checked.be.