B.G.Management: 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.
B.G.Management
Largest movements
- Intangible fixed assets -€19,192
down €19,192 (-16.7%), from €115,100 to €95,908
- Cash +€5,125
up €5,125 (+21.2%), from €24,171 to €29,296
mainly Trade debts (+€26,248) and Depreciation (+€25,575)
- Receivables within one year -€4,088
down €4,088 (-60.8%), from €6,728 to €2,640
of which Other amounts receivable: -€2,215
- Tangible fixed assets +€2,281
up €2,281 (+13.3%), from €17,101 to €19,382
of which Land and buildings: +€1,588
- Trade debts +€26,248
up €26,248 (+97.3%), from €26,977 to €53,226
of which Suppliers: +€14,563
- Debts after one year -€23,524
down €23,524 (-23.6%), from €99,516 to €75,992
- Profit (loss) carried forward -€13,170
down €13,170, from €549 to -€12,621
- Reserves -€11,000
down €11,000 (-100%), from €11,000 to €0
- Tax, wage and social debts +€3,609
up €3,609 (+37.6%), from €9,605 to €13,213
of which Taxes: +€2,843
- Staff costs +€9,746
up €9,746 (+8.3%), from €116,799 to €126,545
- Gross operating margin +€5,278
up €5,278 (+3.8%), from €137,121 to €142,400
- Depreciation +€2,490
up €2,490 (+10.8%), from €23,086 to €25,575
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 | €173,473 | €158,401 | -€15,072 | -8.7% |
| Fixed assets | 21/28 | €132,201 | €115,290 | -€16,911 | -12.8% |
| Intangible fixed assets | 21 | €115,100 | €95,908 | -€19,192 | -16.7% |
| Tangible fixed assets | 22/27 | €17,101 | €19,382 | +€2,281 | +13.3% |
| Land and buildings | 22 | €2,400 | €3,988 | +€1,588 | +66.2% |
| Plant, machinery and equipment | 23 | €13,331 | €13,313 | -€18 | -0.1% |
| Furniture and vehicles | 24 | €1,370 | €2,080 | +€710 | +51.8% |
| Current assets | 29/58 | €41,272 | €43,111 | +€1,839 | +4.5% |
| Stocks and contracts in progress | 3 | €8,946 | €10,069 | +€1,124 | +12.6% |
| Stocks | 30/36 | €8,946 | €10,069 | +€1,124 | +12.6% |
| Amounts receivable within one year | 40/41 | €6,728 | €2,640 | -€4,088 | -60.8% |
| Trade receivables | 40 | €4,512 | €2,640 | -€1,872 | -41.5% |
| Other amounts receivable | 41 | €2,215 | €0 | -€2,215 | -100% |
| Cash at bank and in hand | 54/58 | €24,171 | €29,296 | +€5,125 | +21.2% |
| Deferred charges and accrued income | 490/1 | €1,427 | €1,106 | -€322 | -22.5% |
| Total equity and liabilities | 10/49 | €173,473 | €158,401 | -€15,072 | -8.7% |
| Equity | 10/15 | €17,755 | -€6,416 | -€24,170 | |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €11,000 | €0 | -€11,000 | -100% |
| Distributable reserves | 133 | €11,000 | €0 | -€11,000 | -100% |
| Profit (loss) carried forward | 14 | €549 | -€12,621 | -€13,170 | |
| Amounts payable | 17/49 | €155,719 | €164,817 | +€9,098 | +5.8% |
| Amounts payable after more than one year | 17 | €99,516 | €75,992 | -€23,524 | -23.6% |
| Trade debts | 175 | €99,516 | €75,992 | -€23,524 | -23.6% |
| Amounts payable within one year | 42/48 | €56,203 | €88,825 | +€32,622 | +58.0% |
| Trade debts | 44 | €26,977 | €53,226 | +€26,248 | +97.3% |
| Suppliers | 440/4 | €15,465 | €30,028 | +€14,563 | +94.2% |
| Bills of exchange payable | 441 | €11,512 | €23,198 | +€11,686 | +102% |
| Taxes, remuneration and social security | 45 | €9,605 | €13,213 | +€3,609 | +37.6% |
| Taxes | 450/3 | €2,645 | €5,488 | +€2,843 | +107% |
| Remuneration and social security | 454/9 | €6,959 | €7,726 | +€766 | +11.0% |
| Other amounts payable | 47/48 | €19,621 | €22,386 | +€2,765 | +14.1% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €116,799 | €126,545 | +€9,746 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,086 | €25,575 | +€2,490 | +10.8% |
| Other operating charges | 640/8 | €5,198 | €5,266 | +€67 | +1.3% |
| Non-recurring operating charges | 66A | €50 | - | -€50 | |
| Gross operating margin | 9900 | €137,121 | €142,400 | +€5,278 | +3.8% |
| Operating profit (loss) | 9901 | -€8,011 | -€14,986 | -€6,975 | -87.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €9,164 | €8,888 | -€276 | -3.0% |
| Recurring financial charges | 65 | €9,164 | €8,888 | -€276 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,175 | -€23,874 | -€6,699 | -39.0% |
| Income taxes | 67/77 | €303 | €296 | -€7 | -2.2% |
| Profit (loss) for the period | 9904 | -€17,478 | -€24,170 | -€6,692 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,478 | -€24,170 | -€6,692 | -38.3% |
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 24 October 2026 via checked.be.