BARGOENS: 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.
BARGOENS
Largest movements
- Current investments -€268,000
down €268,000 (-100%), from €268,000 to €0
- Stocks and contracts -€172,464
down €172,464 (-43.4%), from €397,640 to €225,176
- Receivables within one year -€158,009
down €158,009 (-12.8%), from €1.2m to €1.1m
of which Trade receivables: -€123,226
- Cash +€116,680
up €116,680 (+14.5%), from €806,292 to €922,972
mainly Depreciation (+€1.7m) and Net result for the year (+€809,898)
- Tangible fixed assets -€39,240
down €39,240 (-17.4%), from €224,929 to €185,689
- Other debts -€1.1m
down €1.1m (-100%), from €1.1m to €0
- Reserves +€809,898
up €809,898 (+268%), from €302,694 to €1.1m
of which Distributable reserves: +€809,898
- Trade debts -€193,318
down €193,318 (-23.7%), from €816,169 to €622,851
- Advances received -€169,331
down €169,331 (-24.5%), from €691,430 to €522,099
- Tax, wage and social debts +€96,425
up €96,425 (+307%), from €31,431 to €127,857
of which Taxes: +€99,504
- Gross operating margin -€667,475
down €667,475 (-21.0%), from €3.2m to €2.5m
- Taxes -€156,115
down €156,115 (-36.1%), from €432,563 to €276,448
- Depreciation -€83,584
down €83,584 (-4.7%), from €1.8m to €1.7m
- Financial income -€33,248
down €33,248 (-8.3%), from €402,640 to €369,392
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 | €3,011,218 | €2,505,476 | -€505,742 | -16.8% |
| Fixed assets | 21/28 | €290,075 | €241,453 | -€48,622 | -16.8% |
| Tangible fixed assets | 22/27 | €224,929 | €185,689 | -€39,240 | -17.4% |
| Land and buildings | 22 | €63,879 | €53,374 | -€10,505 | -16.4% |
| Plant, machinery and equipment | 23 | €54,848 | €35,253 | -€19,594 | -35.7% |
| Furniture and vehicles | 24 | €38,659 | €37,637 | -€1,021 | -2.6% |
| Other tangible fixed assets | 26 | €67,543 | €59,424 | -€8,119 | -12.0% |
| Financial fixed assets | 28 | €65,147 | €55,765 | -€9,382 | -14.4% |
| Current assets | 29/58 | €2,721,142 | €2,264,023 | -€457,120 | -16.8% |
| Stocks and contracts in progress | 3 | €397,640 | €225,176 | -€172,464 | -43.4% |
| Contracts in progress | 37 | €397,640 | €225,176 | -€172,464 | -43.4% |
| Amounts receivable within one year | 40/41 | €1,238,074 | €1,080,066 | -€158,009 | -12.8% |
| Trade receivables | 40 | €1,126,558 | €1,003,332 | -€123,226 | -10.9% |
| Other amounts receivable | 41 | €111,516 | €76,734 | -€34,782 | -31.2% |
| Current investments | 50/53 | €268,000 | €0 | -€268,000 | -100% |
| Cash at bank and in hand | 54/58 | €806,292 | €922,972 | +€116,680 | +14.5% |
| Deferred charges and accrued income | 490/1 | €11,136 | €35,809 | +€24,673 | +222% |
| Total equity and liabilities | 10/49 | €3,011,218 | €2,505,476 | -€505,742 | -16.8% |
| Equity | 10/15 | €364,194 | €1,174,091 | +€809,898 | +222% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €302,694 | €1,112,591 | +€809,898 | +268% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €277,794 | €1,087,691 | +€809,898 | +292% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,647,024 | €1,331,385 | -€1.3m | -49.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,607,062 | €1,272,806 | -€1.3m | -51.2% |
| Current portion of amounts payable after more than one year | 42 | €8,032 | €0 | -€8,032 | -100% |
| Trade debts | 44 | €816,169 | €622,851 | -€193,318 | -23.7% |
| Suppliers | 440/4 | €816,169 | €622,851 | -€193,318 | -23.7% |
| Advances received on contracts in progress | 46 | €691,430 | €522,099 | -€169,331 | -24.5% |
| Taxes, remuneration and social security | 45 | €31,431 | €127,857 | +€96,425 | +307% |
| Taxes | 450/3 | €11,806 | €111,310 | +€99,504 | +843% |
| Remuneration and social security | 454/9 | €19,625 | €16,547 | -€3,078 | -15.7% |
| Other amounts payable | 47/48 | €1,060,000 | €0 | -€1.1m | -100% |
| Accrued charges and deferred income | 492/3 | €39,962 | €58,579 | +€18,617 | +46.6% |
| Non-recurring operating income | 76A | €4,250 | €161 | -€4,089 | -96.2% |
| Remuneration, social security and pensions | 62 | €73,740 | €92,806 | +€19,066 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,764,390 | €1,680,806 | -€83,584 | -4.7% |
| Other operating charges | 640/8 | €7,184 | €10,375 | +€3,191 | +44.4% |
| Non-recurring operating charges | 66A | €1,003 | €0 | -€1,003 | -100% |
| Gross operating margin | 9900 | €3,171,651 | €2,504,175 | -€667,475 | -21.0% |
| Operating profit (loss) | 9901 | €1,325,333 | €720,188 | -€605,145 | -45.7% |
| Financial income | 75/76B | €402,640 | €369,392 | -€33,248 | -8.3% |
| Recurring financial income | 75 | €402,640 | €369,392 | -€33,248 | -8.3% |
| Financial charges | 65/66B | €3,060 | €3,235 | +€175 | +5.7% |
| Recurring financial charges | 65 | €3,060 | €3,235 | +€175 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €1,724,913 | €1,086,345 | -€638,568 | -37.0% |
| Income taxes | 67/77 | €432,563 | €276,448 | -€156,115 | -36.1% |
| Profit (loss) for the period | 9904 | €1,292,350 | €809,898 | -€482,452 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,292,350 | €809,898 | -€482,452 | -37.3% |
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 15 October 2026 via checked.be.