A. BGS TERRASSEMENT: 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.
A. BGS TERRASSEMENT
Largest movements
- Cash +€43,888
up €43,888 (+130%), from €33,717 to €77,606
mainly Depreciation (+€130,276) and Current portion of long-term debt (+€43,711)
- Tangible fixed assets +€29,986
up €29,986 (+12.1%), from €248,322 to €278,308
of which Furniture and vehicles: +€95,811
- Receivables within one year +€8,850
up €8,850 (+48.8%), from €18,152 to €27,002
of which Trade receivables: +€5,440
- Current portion of long-term debt +€43,711
up €43,711 (+64.0%), from €68,334 to €112,045
- Profit (loss) carried forward +€24,131
up €24,131 (+51.5%), from €46,832 to €70,964
- Debts after one year +€11,377
up €11,377 (+11.0%), from €103,311 to €114,687
- Investment grants +€7,223
new in 2025: €7,223
- Trade debts -€7,069
down €7,069 (-49.6%), from €14,254 to €7,185
- Gross operating margin -€93,035
down €93,035 (-35.7%), from €260,310 to €167,275
- Staff costs -€49,654
down €49,654 (-95.9%), from €51,779 to €2,125
- Depreciation -€10,618
down €10,618 (-7.5%), from €140,893 to €130,276
- Financial charges -€4,424
down €4,424 (-33.8%), from €13,075 to €8,650
- Financial income +€3,611
new in 2025: €3,611
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 | €300,392 | €383,251 | +€82,859 | +27.6% |
| Fixed assets | 21/28 | €248,522 | €278,643 | +€30,121 | +12.1% |
| Tangible fixed assets | 22/27 | €248,322 | €278,308 | +€29,986 | +12.1% |
| Plant, machinery and equipment | 23 | €62,764 | €50,733 | -€12,031 | -19.2% |
| Furniture and vehicles | 24 | €7,633 | €103,444 | +€95,811 | +1,255% |
| Leasing and similar rights | 25 | €177,925 | €124,132 | -€53,793 | -30.2% |
| Financial fixed assets | 28 | €200 | €335 | +€135 | +67.5% |
| Current assets | 29/58 | €51,869 | €104,608 | +€52,738 | +102% |
| Amounts receivable within one year | 40/41 | €18,152 | €27,002 | +€8,850 | +48.8% |
| Trade receivables | 40 | €7,120 | €12,560 | +€5,440 | +76.4% |
| Other amounts receivable | 41 | €11,032 | €14,442 | +€3,410 | +30.9% |
| Cash at bank and in hand | 54/58 | €33,717 | €77,606 | +€43,888 | +130% |
| Total equity and liabilities | 10/49 | €300,392 | €383,251 | +€82,859 | +27.6% |
| Equity | 10/15 | €49,332 | €80,686 | +€31,354 | +63.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,832 | €70,964 | +€24,131 | +51.5% |
| Investment grants | 15 | - | €7,223 | +€7,223 | |
| Amounts payable | 17/49 | €251,060 | €302,565 | +€51,505 | +20.5% |
| Amounts payable after more than one year | 17 | €103,311 | €114,687 | +€11,377 | +11.0% |
| Financial debts | 170/4 | €103,311 | €114,687 | +€11,377 | +11.0% |
| Amounts payable within one year | 42/48 | €147,749 | €187,878 | +€40,129 | +27.2% |
| Current portion of amounts payable after more than one year | 42 | €68,334 | €112,045 | +€43,711 | +64.0% |
| Trade debts | 44 | €14,254 | €7,185 | -€7,069 | -49.6% |
| Suppliers | 440/4 | €14,254 | €7,185 | -€7,069 | -49.6% |
| Taxes, remuneration and social security | 45 | €9,808 | €11,528 | +€1,719 | +17.5% |
| Taxes | 450/3 | €6,812 | €11,528 | +€4,715 | +69.2% |
| Remuneration and social security | 454/9 | €2,996 | €0 | -€2,996 | -100% |
| Other amounts payable | 47/48 | €55,353 | €57,120 | +€1,768 | +3.2% |
| Non-recurring operating income | 76A | €32,670 | €14,520 | -€18,150 | -55.6% |
| Remuneration, social security and pensions | 62 | €51,779 | €2,125 | -€49,654 | -95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,893 | €130,276 | -€10,618 | -7.5% |
| Other operating charges | 640/8 | €919 | €989 | +€70 | +7.6% |
| Gross operating margin | 9900 | €260,310 | €167,275 | -€93,035 | -35.7% |
| Operating profit (loss) | 9901 | €66,719 | €33,886 | -€32,833 | -49.2% |
| Financial income | 75/76B | - | €3,611 | +€3,611 | |
| Recurring financial income | 75 | - | €3,611 | +€3,611 | |
| Financial charges | 65/66B | €13,075 | €8,650 | -€4,424 | -33.8% |
| Recurring financial charges | 65 | €13,075 | €8,650 | -€4,424 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €53,644 | €28,847 | -€24,797 | -46.2% |
| Income taxes | 67/77 | €6,812 | €4,715 | -€2,097 | -30.8% |
| Profit (loss) for the period | 9904 | €46,832 | €24,131 | -€22,701 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,832 | €24,131 | -€22,701 | -48.5% |
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 25 October 2026 via checked.be.