BAGUS: 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.
BAGUS
Largest movements
- Tangible fixed assets -€60,369
down €60,369 (-13.4%), from €451,205 to €390,836
- Stocks and contracts -€17,355
down €17,355 (-58.0%), from €29,897 to €12,542
- Cash -€14,999
down €14,999 (-18.8%), from €79,709 to €64,709
mainly Debts after one year (-€57,414) and Trade debts (-€16,963)
- Debts after one year -€57,414
down €57,414 (-28.0%), from €204,938 to €147,524
- Trade debts -€16,963
down €16,963 (-53.9%), from €31,443 to €14,480
- Current portion of long-term debt -€15,689
down €15,689 (-21.0%), from €74,720 to €59,031
- Reserves +€14,115
up €14,115 (+9.5%), from €149,089 to €163,204
- Other debts -€11,570
down €11,570 (-24.8%), from €46,649 to €35,079
- Gross operating margin -€11,228
down €11,228 (-2.7%), from €422,096 to €410,868
- Staff costs -€9,163
down €9,163 (-3.0%), from €307,032 to €297,869
- Depreciation -€6,641
down €6,641 (-8.6%), from €77,473 to €70,832
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 | €575,725 | €482,439 | -€93,286 | -16.2% |
| Fixed assets | 21/28 | €451,205 | €390,836 | -€60,369 | -13.4% |
| Tangible fixed assets | 22/27 | €451,205 | €390,836 | -€60,369 | -13.4% |
| Land and buildings | 22 | €12,648 | €10,339 | -€2,309 | -18.3% |
| Plant, machinery and equipment | 23 | €60,975 | €40,148 | -€20,827 | -34.2% |
| Furniture and vehicles | 24 | €49,852 | €31,233 | -€18,619 | -37.3% |
| Other tangible fixed assets | 26 | €327,731 | €309,117 | -€18,614 | -5.7% |
| Current assets | 29/58 | €124,519 | €91,603 | -€32,917 | -26.4% |
| Stocks and contracts in progress | 3 | €29,897 | €12,542 | -€17,355 | -58.0% |
| Stocks | 30/36 | €29,897 | €12,542 | -€17,355 | -58.0% |
| Amounts receivable within one year | 40/41 | €9,379 | €8,997 | -€382 | -4.1% |
| Trade receivables | 40 | €4 | €0 | -€4 | -100% |
| Other amounts receivable | 41 | €9,375 | €8,997 | -€378 | -4.0% |
| Cash at bank and in hand | 54/58 | €79,709 | €64,709 | -€14,999 | -18.8% |
| Deferred charges and accrued income | 490/1 | €5,536 | €5,354 | -€181 | -3.3% |
| Total equity and liabilities | 10/49 | €575,725 | €482,439 | -€93,286 | -16.2% |
| Equity | 10/15 | €169,089 | €183,204 | +€14,115 | +8.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €149,089 | €163,204 | +€14,115 | +9.5% |
| Distributable reserves | 133 | €149,089 | €163,204 | +€14,115 | +9.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €406,636 | €299,235 | -€107,401 | -26.4% |
| Amounts payable after more than one year | 17 | €204,938 | €147,524 | -€57,414 | -28.0% |
| Financial debts | 170/4 | €204,938 | €147,524 | -€57,414 | -28.0% |
| Amounts payable within one year | 42/48 | €193,758 | €146,764 | -€46,994 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €74,720 | €59,031 | -€15,689 | -21.0% |
| Financial debts | 43 | €2,549 | €0 | -€2,549 | -100% |
| Credit institutions | 430/8 | €2,549 | €0 | -€2,549 | -100% |
| Trade debts | 44 | €31,443 | €14,480 | -€16,963 | -53.9% |
| Suppliers | 440/4 | €31,443 | €14,480 | -€16,963 | -53.9% |
| Advances received on contracts in progress | 46 | €2,611 | €5,522 | +€2,911 | +112% |
| Taxes, remuneration and social security | 45 | €35,785 | €32,652 | -€3,133 | -8.8% |
| Taxes | 450/3 | €9,044 | €8,682 | -€362 | -4.0% |
| Remuneration and social security | 454/9 | €26,741 | €23,970 | -€2,772 | -10.4% |
| Other amounts payable | 47/48 | €46,649 | €35,079 | -€11,570 | -24.8% |
| Accrued charges and deferred income | 492/3 | €7,941 | €4,947 | -€2,994 | -37.7% |
| Remuneration, social security and pensions | 62 | €307,032 | €297,869 | -€9,163 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,473 | €70,832 | -€6,641 | -8.6% |
| Other operating charges | 640/8 | €4,770 | €4,184 | -€586 | -12.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €422,096 | €410,868 | -€11,228 | -2.7% |
| Operating profit (loss) | 9901 | €32,821 | €37,982 | +€5,161 | +15.7% |
| Financial income | 75/76B | €183 | €158 | -€25 | -13.5% |
| Recurring financial income | 75 | €183 | €158 | -€25 | -13.5% |
| Financial charges | 65/66B | €20,638 | €21,460 | +€822 | +4.0% |
| Recurring financial charges | 65 | €20,638 | €21,460 | +€822 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €12,366 | €16,680 | +€4,315 | +34.9% |
| Income taxes | 67/77 | €1,412 | €2,565 | +€1,153 | +81.7% |
| Profit (loss) for the period | 9904 | €10,954 | €14,115 | +€3,162 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,954 | €14,115 | +€3,162 | +28.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.