B.G.C.: 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.
B.G.C.
Largest movements
- Cash +€291,465
up €291,465 (+66.8%), from €436,130 to €727,595
mainly Investment in fixed assets (net) (+€128,073) and Net result for the year (+€117,167)
- Tangible fixed assets -€133,734
down €133,734 (-48.8%), from €273,836 to €140,102
- Receivables within one year -€113,693
down €113,693 (-99.1%), from €114,755 to €1,062
of which Trade receivables: -€91,693
- Reserves +€47,167
up €47,167 (+6.7%), from €706,276 to €753,443
of which Distributable reserves: +€47,167
- Tax, wage and social debts -€12,172
down €12,172 (-44.2%), from €27,536 to €15,364
- Trade debts +€8,845
up €8,845 (+360.1%), from €2,456 to €11,301
- Gross operating margin -€19,987
down €19,987 (-10.0%), from €198,929 to €178,942
- Depreciation -€5,866
down €5,866 (-50.9%), from €11,527 to €5,661
- Financial income +€4,612
up €4,612 (+196.7%), from €2,344 to €6,956
- Taxes -€3,129
down €3,129 (-5.8%), from €54,203 to €51,074
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 | €827,884 | €870,025 | +€42,141 | +5.1% |
| Fixed assets | 21/28 | €273,876 | €140,142 | -€133,734 | -48.8% |
| Tangible fixed assets | 22/27 | €273,836 | €140,102 | -€133,734 | -48.8% |
| Other tangible fixed assets | 26 | €273,836 | €140,102 | -€133,734 | -48.8% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €554,008 | €729,883 | +€175,875 | +31.7% |
| Amounts receivable within one year | 40/41 | €114,755 | €1,062 | -€113,693 | -99.1% |
| Trade receivables | 40 | €92,755 | €1,062 | -€91,693 | -98.9% |
| Other amounts receivable | 41 | €22,000 | - | -€22,000 | |
| Cash at bank and in hand | 54/58 | €436,130 | €727,595 | +€291,465 | +66.8% |
| Deferred charges and accrued income | 490/1 | €3,123 | €1,226 | -€1,897 | -60.8% |
| Total equity and liabilities | 10/49 | €827,884 | €870,025 | +€42,141 | +5.1% |
| Equity | 10/15 | €712,476 | €759,643 | +€47,167 | +6.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €706,276 | €753,443 | +€47,167 | +6.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €704,416 | €751,583 | +€47,167 | +6.7% |
| Amounts payable | 17/49 | €115,408 | €110,382 | -€5,026 | -4.4% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Financial debts | 170/4 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €34,393 | €30,072 | -€4,321 | -12.6% |
| Trade debts | 44 | €2,456 | €11,301 | +€8,845 | +360.1% |
| Suppliers | 440/4 | €2,456 | €11,301 | +€8,845 | +360.1% |
| Taxes, remuneration and social security | 45 | €27,536 | €15,364 | -€12,172 | -44.2% |
| Taxes | 450/3 | €27,536 | €15,364 | -€12,172 | -44.2% |
| Other amounts payable | 47/48 | €4,401 | €3,407 | -€994 | -22.6% |
| Accrued charges and deferred income | 492/3 | €6,015 | €5,310 | -€705 | -11.7% |
| Non-recurring operating income | 76A | - | €63,473 | +€63,473 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,527 | €5,661 | -€5,866 | -50.9% |
| Other operating charges | 640/8 | €3,393 | €3,471 | +€79 | +2.3% |
| Non-recurring operating charges | 66A | €759 | €581 | -€178 | -23.5% |
| Gross operating margin | 9900 | €198,929 | €178,942 | -€19,987 | -10.0% |
| Operating profit (loss) | 9901 | €183,250 | €169,228 | -€14,022 | -7.7% |
| Financial income | 75/76B | €2,344 | €6,956 | +€4,612 | +196.7% |
| Recurring financial income | 75 | €2,344 | €6,956 | +€4,612 | +196.7% |
| Financial charges | 65/66B | €9,431 | €7,943 | -€1,488 | -15.8% |
| Recurring financial charges | 65 | €9,431 | €7,943 | -€1,488 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €176,164 | €168,241 | -€7,923 | -4.5% |
| Income taxes | 67/77 | €54,203 | €51,074 | -€3,129 | -5.8% |
| Profit (loss) for the period | 9904 | €121,961 | €117,167 | -€4,794 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €121,961 | €117,167 | -€4,794 | -3.9% |
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.