This numerical study evaluates and compares four different flexibility and storage options in building energy systems (batteries, fuel switch, water tanks, and thermal building mass) in terms of potential improvements in load scheduling and energy efficiency. Using a generic modern office building with concrete core conditioning as an example, two different supply concepts (one based on a heat pump, one based on a CHP unit) are considered. A novel hybrid control concept is applied which is designed to be compatible with state-of-the-art controllers implemented in the field. The results show that batteries are the most technically attractive options in terms of grid support, efficiency and ease of implementation. Fuel switch is comparably straightforward to implement, but provides significant benefits only for the considered CHP system. Water tanks with a capacity of about two full operation hours offer nearly the same flexibility as much larger tanks, but negatively influence the efficiency of heat pump systems. The thermal building mass can be used effectively and efficiently for thermal storage, particularly in the heating season, but this is technically challenging to realize. It is shown that current electricity prices do not offer sufficient variations to stimulate grid-supportive operation.