B.G.O.: 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.O.
Largest movements
- Receivables within one year -€16,643
down €16,643 (-47.1%), from €35,321 to €18,678
of which Trade receivables: -€8,396
- Cash +€7,520
up €7,520 (+141%), from €5,342 to €12,862
mainly Receivables within one year (+€16,643) and Net result for the year (+€9,357)
- Tangible fixed assets +€5,284
up €5,284 (+83.2%), from €6,349 to €11,633
of which Plant, machinery and equipment: +€5,313
- Deferred charges and accrued income +€4,504
up €4,504 (+347%), from €1,297 to €5,801
- Profit (loss) carried forward +€9,357
up €9,357 (+54.1%), from €17,296 to €26,653
- Other debts -€4,467
down €4,467 (-71.5%), from €6,252 to €1,785
- Trade debts -€3,478
down €3,478 (-38.8%), from €8,974 to €5,496
- Tax, wage and social debts -€746
down €746 (-6.9%), from €10,788 to €10,041
of which Remuneration and social security: -€4,400
- Gross operating margin +€4,547
up €4,547 (+17.3%), from €26,238 to €30,785
- Taxes -€2,734
down €2,734 (-42.8%), from €6,388 to €3,654
- Financial charges +€1,936
up €1,936 (+353%), from €549 to €2,485
of which Financial charges: +€2,378
- Other operating charges +€1,548
up €1,548 (+221%), from €700 to €2,248
- Depreciation +€967
up €967 (+55.5%), from €1,743 to €2,709
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 | €48,309 | €48,974 | +€665 | +1.4% |
| Fixed assets | 21/28 | €6,349 | €11,633 | +€5,284 | +83.2% |
| Tangible fixed assets | 22/27 | €6,349 | €11,633 | +€5,284 | +83.2% |
| Plant, machinery and equipment | 23 | €1,938 | €7,251 | +€5,313 | +274% |
| Furniture and vehicles | 24 | €4,411 | €4,382 | -€29 | -0.7% |
| Current assets | 29/58 | €41,959 | €37,341 | -€4,619 | -11.0% |
| Amounts receivable within one year | 40/41 | €35,321 | €18,678 | -€16,643 | -47.1% |
| Trade receivables | 40 | €18,971 | €10,576 | -€8,396 | -44.3% |
| Other amounts receivable | 41 | €16,349 | €8,102 | -€8,247 | -50.4% |
| Cash at bank and in hand | 54/58 | €5,342 | €12,862 | +€7,520 | +141% |
| Deferred charges and accrued income | 490/1 | €1,297 | €5,801 | +€4,504 | +347% |
| Total equity and liabilities | 10/49 | €48,309 | €48,974 | +€665 | +1.4% |
| Equity | 10/15 | €22,296 | €31,653 | +€9,357 | +42.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,296 | €26,653 | +€9,357 | +54.1% |
| Amounts payable | 17/49 | €26,013 | €17,321 | -€8,692 | -33.4% |
| Amounts payable within one year | 42/48 | €26,013 | €17,321 | -€8,692 | -33.4% |
| Trade debts | 44 | €8,974 | €5,496 | -€3,478 | -38.8% |
| Suppliers | 440/4 | €8,974 | €5,496 | -€3,478 | -38.8% |
| Taxes, remuneration and social security | 45 | €10,788 | €10,041 | -€746 | -6.9% |
| Taxes | 450/3 | €6,388 | €10,041 | +€3,654 | +57.2% |
| Remuneration and social security | 454/9 | €4,400 | - | -€4,400 | |
| Other amounts payable | 47/48 | €6,252 | €1,785 | -€4,467 | -71.5% |
| Non-recurring operating income | 76A | - | €293 | +€293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,743 | €2,709 | +€967 | +55.5% |
| Other operating charges | 640/8 | €700 | €2,248 | +€1,548 | +221% |
| Non-recurring operating charges | 66A | - | €10,335 | +€10,335 | |
| Gross operating margin | 9900 | €26,238 | €30,785 | +€4,547 | +17.3% |
| Operating profit (loss) | 9901 | €23,796 | €15,493 | -€8,303 | -34.9% |
| Financial income | 75/76B | €436 | €2 | -€434 | -99.6% |
| Recurring financial income | 75 | €436 | €2 | -€434 | -99.6% |
| Financial charges | 65/66B | €549 | €2,485 | +€1,936 | +353% |
| Recurring financial charges | 65 | €106 | €2,485 | +€2,378 | +2,241% |
| Non-recurring financial charges | 66B | €442 | - | -€442 | |
| Profit (loss) for the period before taxes | 9903 | €23,683 | €13,010 | -€10,673 | -45.1% |
| Income taxes | 67/77 | €6,388 | €3,654 | -€2,734 | -42.8% |
| Profit (loss) for the period | 9904 | €17,296 | €9,357 | -€7,939 | -45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,296 | €9,357 | -€7,939 | -45.9% |
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 17 October 2026 via checked.be.