BAGUSCO: 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.
BAGUSCO
Largest movements
- Tangible fixed assets +€470,054
up €470,054 (+40.6%), from €1.2m to €1.6m
of which Land and buildings: +€461,841
- Cash +€38,477
up €38,477 (+197.4%), from €19,489 to €57,966
mainly Debts after one year (+€347,307) and Net result for the year (+€126,794)
- Debts after one year +€347,307
up €347,307 (+116.2%), from €298,989 to €646,296
- Reserves +€125,961
up €125,961 (+23.2%), from €543,675 to €669,636
of which Distributable reserves: +€128,098
- Other debts +€27,140
up €27,140 (+10.4%), from €260,317 to €287,457
- Current portion of long-term debt +€20,789
up €20,789 (+47.5%), from €43,772 to €64,561
- Depreciation +€67,241
up €67,241 (+147.5%), from €45,587 to €112,828
- Gross operating margin +€58,467
up €58,467 (+21.6%), from €270,061 to €328,528
- Financial charges +€5,218
up €5,218 (+24.6%), from €21,225 to €26,443
of which Financial charges: +€2,962
- Taxes -€3,741
down €3,741 (-5.8%), from €63,986 to €60,244
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 | €1,187,963 | €1,696,719 | +€508,756 | +42.8% |
| Fixed assets | 21/28 | €1,156,742 | €1,626,797 | +€470,054 | +40.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,156,742 | €1,626,797 | +€470,054 | +40.6% |
| Land and buildings | 22 | €1,139,965 | €1,601,806 | +€461,841 | +40.5% |
| Plant, machinery and equipment | 23 | €6,807 | €8,684 | +€1,877 | +27.6% |
| Furniture and vehicles | 24 | €9,970 | €16,307 | +€6,337 | +63.6% |
| Current assets | 29/58 | €31,221 | €69,922 | +€38,701 | +124.0% |
| Amounts receivable within one year | 40/41 | €11,533 | €11,654 | +€120 | +1.0% |
| Trade receivables | 40 | €3,283 | €3,428 | +€145 | +4.4% |
| Other amounts receivable | 41 | €8,251 | €8,226 | -€25 | -0.3% |
| Cash at bank and in hand | 54/58 | €19,489 | €57,966 | +€38,477 | +197.4% |
| Deferred charges and accrued income | 490/1 | €198 | €302 | +€104 | +52.6% |
| Total equity and liabilities | 10/49 | €1,187,963 | €1,696,719 | +€508,756 | +42.8% |
| Equity | 10/15 | €544,675 | €670,636 | +€125,961 | +23.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €1,000 | +€1,000 | |
| Other | 1109/19 | - | €1,000 | +€1,000 | |
| Reserves | 13 | €543,675 | €669,636 | +€125,961 | +23.2% |
| Non-distributable reserves | 130/1 | - | €100 | +€100 | |
| Reserves not available under the articles | 1311 | - | €100 | +€100 | |
| Tax-exempt reserves | 132 | €64,888 | €62,650 | -€2,238 | -3.4% |
| Distributable reserves | 133 | €478,787 | €606,886 | +€128,098 | +26.8% |
| Provisions and deferred taxes | 16 | €21,629 | €20,883 | -€746 | -3.4% |
| Deferred taxes | 168 | €21,629 | €20,883 | -€746 | -3.4% |
| Amounts payable | 17/49 | €621,658 | €1,005,199 | +€383,541 | +61.7% |
| Amounts payable after more than one year | 17 | €298,989 | €646,296 | +€347,307 | +116.2% |
| Financial debts | 170/4 | €298,989 | €646,296 | +€347,307 | +116.2% |
| Amounts payable within one year | 42/48 | €322,669 | €353,244 | +€30,574 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €43,772 | €64,561 | +€20,789 | +47.5% |
| Trade debts | 44 | €5,612 | €1,226 | -€4,386 | -78.2% |
| Suppliers | 440/4 | €5,612 | €1,226 | -€4,386 | -78.2% |
| Taxes, remuneration and social security | 45 | €12,969 | - | -€12,969 | |
| Taxes | 450/3 | €12,969 | - | -€12,969 | |
| Other amounts payable | 47/48 | €260,317 | €287,457 | +€27,140 | +10.4% |
| Accrued charges and deferred income | 492/3 | - | €5,659 | +€5,659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,587 | €112,828 | +€67,241 | +147.5% |
| Other operating charges | 640/8 | €4,964 | €3,013 | -€1,951 | -39.3% |
| Gross operating margin | 9900 | €270,061 | €328,528 | +€58,467 | +21.6% |
| Operating profit (loss) | 9901 | €219,510 | €212,688 | -€6,823 | -3.1% |
| Financial income | 75/76B | - | €47 | +€47 | |
| Recurring financial income | 75 | - | €47 | +€47 | |
| Financial charges | 65/66B | €21,225 | €26,443 | +€5,218 | +24.6% |
| Recurring financial charges | 65 | €21,225 | €24,187 | +€2,962 | +14.0% |
| Non-recurring financial charges | 66B | - | €2,256 | +€2,256 | |
| Profit (loss) for the period before taxes | 9903 | €198,285 | €186,292 | -€11,993 | -6.0% |
| Transfer from deferred taxes | 780 | €746 | €746 | = | 0.0% |
| Income taxes | 67/77 | €63,986 | €60,244 | -€3,741 | -5.8% |
| Profit (loss) for the period | 9904 | €135,045 | €126,794 | -€8,252 | -6.1% |
| Transfer from tax-exempt reserves | 789 | €2,238 | €2,238 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €137,283 | €129,031 | -€8,252 | -6.0% |
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 11 October 2026 via checked.be.