BAGAMA: 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.
BAGAMA
Largest movements
- Current investments -€30,000
down €30,000 (-30.0%), from €100,000 to €70,000
- Cash +€27,921
up €27,921 (+302.5%), from €9,231 to €37,152
mainly Current investments (+€30,000) and Depreciation (+€14,542)
- Tangible fixed assets -€12,542
down €12,542 (-8.1%), from €154,396 to €141,855
- Receivables within one year -€5,341
down €5,341 (-6.7%), from €79,376 to €74,035
of which Other amounts receivable: -€8,341
- Reserves -€21,726
down €21,726 (-8.4%), from €259,075 to €237,349
of which Distributable reserves: -€19,596
- Gross operating margin +€8,490
up €8,490 (+82.0%), from €10,356 to €18,846
- Depreciation -€6,250
down €6,250 (-30.1%), from €20,792 to €14,542
- Taxes +€3,117
up €3,117, from -€985 to €2,132
- Financial income -€1,012
down €1,012 (-15.1%), from €6,717 to €5,705
- Other operating charges -€883
down €883 (-8.8%), from €10,082 to €9,198
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 | €344,116 | €324,686 | -€19,431 | -5.6% |
| Fixed assets | 21/28 | €154,646 | €142,105 | -€12,542 | -8.1% |
| Tangible fixed assets | 22/27 | €154,396 | €141,855 | -€12,542 | -8.1% |
| Land and buildings | 22 | €107,614 | €103,073 | -€4,542 | -4.2% |
| Furniture and vehicles | 24 | €18,114 | €14,094 | -€4,020 | -22.2% |
| Other tangible fixed assets | 26 | €28,668 | €24,688 | -€3,980 | -13.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €189,470 | €182,581 | -€6,889 | -3.6% |
| Amounts receivable within one year | 40/41 | €79,376 | €74,035 | -€5,341 | -6.7% |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 41 | €79,376 | €71,035 | -€8,341 | -10.5% |
| Current investments | 50/53 | €100,000 | €70,000 | -€30,000 | -30.0% |
| Cash at bank and in hand | 54/58 | €9,231 | €37,152 | +€27,921 | +302.5% |
| Deferred charges and accrued income | 490/1 | €864 | €1,394 | +€530 | +61.4% |
| Total equity and liabilities | 10/49 | €344,116 | €324,686 | -€19,431 | -5.6% |
| Equity | 10/15 | €325,677 | €305,593 | -€20,084 | -6.2% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €259,075 | €237,349 | -€21,726 | -8.4% |
| Tax-exempt reserves | 132 | €32,661 | €30,531 | -€2,130 | -6.5% |
| Distributable reserves | 133 | €226,414 | €206,818 | -€19,596 | -8.7% |
| Profit (loss) carried forward | 14 | €46,151 | €47,792 | +€1,642 | +3.6% |
| Provisions and deferred taxes | 16 | €16,818 | €15,721 | -€1,097 | -6.5% |
| Deferred taxes | 168 | €16,818 | €15,721 | -€1,097 | -6.5% |
| Amounts payable | 17/49 | €1,621 | €3,371 | +€1,750 | +108.0% |
| Amounts payable after more than one year | 17 | €1,497 | €1,200 | -€297 | -19.9% |
| Other amounts payable | 178/9 | €1,497 | €1,200 | -€297 | -19.9% |
| Amounts payable within one year | 42/48 | €124 | €2,171 | +€2,048 | +1656.8% |
| Trade debts | 44 | €1 | €1 | = | 0.0% |
| Suppliers | 440/4 | €1 | €1 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €122 | €2,170 | +€2,048 | +1676.5% |
| Taxes | 450/3 | €122 | €2,170 | +€2,048 | +1676.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,792 | €14,542 | -€6,250 | -30.1% |
| Other operating charges | 640/8 | €10,082 | €9,198 | -€883 | -8.8% |
| Gross operating margin | 9900 | €10,356 | €18,846 | +€8,490 | +82.0% |
| Operating profit (loss) | 9901 | -€20,517 | -€4,894 | +€15,624 | +76.1% |
| Financial income | 75/76B | €6,717 | €5,705 | -€1,012 | -15.1% |
| Recurring financial income | 75 | €6,717 | €5,705 | -€1,012 | -15.1% |
| Financial charges | 65/66B | €216 | €264 | +€48 | +22.0% |
| Recurring financial charges | 65 | €216 | €264 | +€48 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,017 | €547 | +€14,564 | |
| Transfer from deferred taxes | 780 | €1,097 | €1,097 | = | 0.0% |
| Income taxes | 67/77 | -€985 | €2,132 | +€3,117 | |
| Profit (loss) for the period | 9904 | -€11,935 | -€488 | +€11,446 | +95.9% |
| Transfer from tax-exempt reserves | 789 | €2,130 | €2,130 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,805 | €1,642 | +€11,446 |
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 7 October 2026 via checked.be.