B.G.S.: 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.
What changed
B.G.S.
NACE 28.293, Manufacture of machinery and equipment not elsewhere classified
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€9,037
2024 · €842,536-€851,573
Equity
€1.1m
2024 · €1.2m-€9,037
Cash
€182,550
2024 · €463,239-€280,689
Balance sheet total
€3.6m
2024 · €3.6m-€12,252
Largest movements
Assets
- Cash -€280,689
down €280,689 (-60.6%), from €463,239 to €182,550
mainly Debts after one year (-€520,000) and Tax, wage and social debts (-€272,662)
- Receivables within one year +€196,053
up €196,053 (+13.5%), from €1.4m to €1.6m
of which Trade receivables: +€206,641
- Intangible fixed assets +€82,634
up €82,634, from €0 to €82,634
Equity and liabilities
- Trade debts +€600,384
up €600,384 (+134%), from €446,678 to €1.0m
- Debts after one year -€520,000
down €520,000 (-100%), from €520,000 to €0
- Tax, wage and social debts -€272,662
down €272,662 (-27.4%), from €996,363 to €723,702
of which Taxes: -€287,889
- Provisions +€202,585
up €202,585 (+41.0%), from €494,616 to €697,201
Income statement
- Staff costs +€609,738
up €609,738 (+24.1%), from €2.5m to €3.1m
- Services and other goods +€516,754
up €516,754 (+61.0%), from €847,245 to €1.4m
- Turnover -€273,530
down €273,530 (-3.8%), from €7.2m to €6.9m
- Goods and materials -€258,896
down €258,896 (-9.9%), from €2.6m to €2.4m
of which Purchases: -€289,224
- Provisions +€202,585
new in 2025: €202,585
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.
Result 2024
€842,536
Turnover
-€273,530
Other operating income
+€200,538
Goods and materials
+€258,896
Services and other goods
-€516,754
Staff costs
-€609,738
Depreciation
-€12,265
Write-downs
-€10,936
Provisions
-€202,585
Other operating charges
-€8,015
Other operating items
+€61,949
Financial income
+€10,274
Financial charges
+€145,216
Taxes
+€105,377
Result 2025
-€9,037
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€472,474
Investment
-€233,163
Financing
-€520,000
Cash 2024
€463,239
From operations (derived)
+€472,474
Net result for the year
-€9,037
Depreciation
+€154,879
Stocks and contracts
+€31,247
Receivables within one year
-€196,053
Deferred charges and accrued income
-€25,347
Provisions
+€202,585
Trade debts
+€600,384
Tax, wage and social debts
-€272,662
Accrued charges and deferred income
-€13,522
Investment (derived)
-€233,163
Investment in fixed assets (net)
-€233,163
Financing
-€520,000
Debts after one year
-€520,000
Cash 2025
€182,550
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,634,878 | €3,622,626 | -€12,252 | -0.3% |
| Fixed assets | 21/28 | €927,248 | €1,005,533 | +€78,285 | +8.4% |
| Intangible fixed assets | 21 | €0 | €82,634 | +€82,634 | |
| Tangible fixed assets | 22/27 | €917,627 | €920,831 | +€3,204 | +0.3% |
| Land and buildings | 22 | €717,306 | €654,096 | -€63,211 | -8.8% |
| Plant, machinery and equipment | 23 | €7,524 | €20,265 | +€12,742 | +169% |
| Furniture and vehicles | 24 | €180,602 | €239,550 | +€58,948 | +32.6% |
| Other tangible fixed assets | 26 | €12,195 | €6,920 | -€5,275 | -43.3% |
| Financial fixed assets | 28 | €9,621 | €2,068 | -€7,553 | -78.5% |
| Other financial fixed assets | 284/8 | €9,621 | €2,068 | -€7,553 | -78.5% |
| Shares | 284 | €7,641 | €0 | -€7,641 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €1,980 | €2,068 | +€88 | +4.4% |
| Current assets | 29/58 | €2,707,630 | €2,617,093 | -€90,536 | -3.3% |
| Stocks and contracts in progress | 3 | €790,656 | €759,409 | -€31,247 | -4.0% |
| Stocks | 30/36 | €790,656 | €759,409 | -€31,247 | -4.0% |
| Goods purchased for resale | 34 | €790,656 | €759,409 | -€31,247 | -4.0% |
| Amounts receivable within one year | 40/41 | €1,448,020 | €1,644,073 | +€196,053 | +13.5% |
| Trade receivables | 40 | €1,410,709 | €1,617,351 | +€206,641 | +14.6% |
| Other amounts receivable | 41 | €37,310 | €26,722 | -€10,588 | -28.4% |
| Cash at bank and in hand | 54/58 | €463,239 | €182,550 | -€280,689 | -60.6% |
| Deferred charges and accrued income | 490/1 | €5,715 | €31,062 | +€25,347 | +444% |
| Total equity and liabilities | 10/49 | €3,634,878 | €3,622,626 | -€12,252 | -0.3% |
| Equity | 10/15 | €1,153,575 | €1,144,538 | -€9,037 | -0.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €653,575 | €644,538 | -€9,037 | -1.4% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €603,575 | €594,538 | -€9,037 | -1.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €494,616 | €697,201 | +€202,585 | +41.0% |
| Provisions for liabilities and charges | 160/5 | €494,616 | €697,201 | +€202,585 | +41.0% |
| Other liabilities and charges | 164/5 | €494,616 | €697,201 | +€202,585 | +41.0% |
| Amounts payable | 17/49 | €1,986,687 | €1,780,887 | -€205,800 | -10.4% |
| Amounts payable after more than one year | 17 | €520,000 | €0 | -€520,000 | -100% |
| Financial debts | 170/4 | €520,000 | €0 | -€520,000 | -100% |
| Other loans | 174 | €520,000 | €0 | -€520,000 | -100% |
| Amounts payable within one year | 42/48 | €1,443,041 | €1,770,763 | +€327,722 | +22.7% |
| Trade debts | 44 | €446,678 | €1,047,062 | +€600,384 | +134% |
| Suppliers | 440/4 | €446,678 | €1,047,062 | +€600,384 | +134% |
| Taxes, remuneration and social security | 45 | €996,363 | €723,702 | -€272,662 | -27.4% |
| Taxes | 450/3 | €664,429 | €376,540 | -€287,889 | -43.3% |
| Remuneration and social security | 454/9 | €331,934 | €347,162 | +€15,227 | +4.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €23,646 | €10,124 | -€13,522 | -57.2% |
| Operating income | 70/76A | €7,239,972 | €7,162,759 | -€77,212 | -1.1% |
| Turnover | 70 | €7,165,538 | €6,892,008 | -€273,530 | -3.8% |
| Other operating income | 74 | €52,435 | €252,973 | +€200,538 | +382% |
| Non-recurring operating income | 76A | €21,999 | €17,779 | -€4,220 | -19.2% |
| Operating charges | 60/66A | €6,254,384 | €7,289,612 | +€1.0m | +16.6% |
| Goods for resale, raw materials and consumables | 60 | €2,613,174 | €2,354,278 | -€258,896 | -9.9% |
| Purchases | 600/8 | €2,644,599 | €2,355,375 | -€289,224 | -10.9% |
| Change in stocks: decrease (increase) | 609 | -€31,425 | -€1,097 | +€30,327 | +96.5% |
| Services and other goods | 61 | €847,245 | €1,364,000 | +€516,754 | +61.0% |
| Remuneration, social security and pensions | 62 | €2,531,107 | €3,140,845 | +€609,738 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,613 | €154,879 | +€12,265 | +8.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,092 | €36,028 | +€10,936 | +43.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €202,585 | +€202,585 | |
| Other operating charges | 640/8 | €25,825 | €33,840 | +€8,015 | +31.0% |
| Non-recurring operating charges | 66A | €69,328 | €3,159 | -€66,169 | -95.4% |
| Operating profit (loss) | 9901 | €985,588 | -€126,853 | -€1.1m | |
| Financial income | 75/76B | €20,515 | €30,789 | +€10,274 | +50.1% |
| Recurring financial income | 75 | €20,515 | €30,789 | +€10,274 | +50.1% |
| Income from financial fixed assets | 750 | €41 | €1,905 | +€1,865 | +4,563% |
| Income from current assets | 751 | €2,166 | €512 | -€1,655 | -76.4% |
| Other financial income | 752/9 | €18,308 | €28,372 | +€10,065 | +55.0% |
| Financial charges | 65/66B | €23,676 | -€121,540 | -€145,216 | |
| Recurring financial charges | 65 | €23,676 | -€126,440 | -€150,116 | |
| Debt charges | 650 | €7,349 | €20,050 | +€12,701 | +173% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €6,046 | -€1,217,764 | -€1.2m | |
| Other financial charges | 652/9 | €10,281 | €1,071,274 | +€1.1m | +10,320% |
| Non-recurring financial charges | 66B | - | €4,900 | +€4,900 | |
| Profit (loss) for the period before taxes | 9903 | €982,427 | €25,477 | -€956,950 | -97.4% |
| Income taxes | 67/77 | €139,890 | €34,513 | -€105,377 | -75.3% |
| Taxes | 670/3 | €294,390 | €34,513 | -€259,877 | -88.3% |
| Tax adjustments and reversals of tax provisions | 77 | €154,499 | €0 | -€154,499 | -100% |
| Profit (loss) for the period | 9904 | €842,536 | -€9,037 | -€851,573 | |
| Profit (loss) for the period to be appropriated | 9905 | €842,536 | -€9,037 | -€851,573 |
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 18 October 2026 via checked.be.