BCO: 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.
BCO
Largest movements
- Tangible fixed assets -€21,263
down €21,263 (-4.7%), from €454,783 to €433,520
of which Land and buildings: -€13,638
- Cash -€16,615
down €16,615 (-25.1%), from €66,177 to €49,562
mainly Net result for the year (-€22,963) and Investment in fixed assets (net) (-€14,198)
- Reserves -€13,468
down €13,468 (-3.4%), from €392,196 to €378,728
of which Tax-exempt reserves: -€13,468
- Profit (loss) carried forward -€9,495
down €9,495 (-15.8%), from -€59,923 to -€69,418
- Gross operating margin -€5,122
down €5,122 (-27.6%), from €18,560 to €13,438
- Other operating charges +€1,987
up €1,987 (+64.2%), from €3,094 to €5,081
- Depreciation +€974
up €974 (+2.8%), from €34,487 to €35,461
- Staff costs +€415
new in 2025: €415
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 | €522,886 | €485,255 | -€37,631 | -7.2% |
| Fixed assets | 21/28 | €454,783 | €433,520 | -€21,263 | -4.7% |
| Tangible fixed assets | 22/27 | €454,783 | €433,520 | -€21,263 | -4.7% |
| Land and buildings | 22 | €364,712 | €351,074 | -€13,638 | -3.7% |
| Furniture and vehicles | 24 | €29,803 | €17,004 | -€12,799 | -42.9% |
| Other tangible fixed assets | 26 | €60,268 | €65,442 | +€5,174 | +8.6% |
| Current assets | 29/58 | €68,103 | €51,735 | -€16,368 | -24.0% |
| Amounts receivable within one year | 40/41 | €1,926 | €1,473 | -€453 | -23.5% |
| Trade receivables | 40 | €1,926 | €1,473 | -€453 | -23.5% |
| Cash at bank and in hand | 54/58 | €66,177 | €49,562 | -€16,615 | -25.1% |
| Deferred charges and accrued income | 490/1 | - | €700 | +€700 | |
| Total equity and liabilities | 10/49 | €522,886 | €485,255 | -€37,631 | -7.2% |
| Equity | 10/15 | €411,599 | €388,636 | -€22,963 | -5.6% |
| Contributions | 10/11 | €79,326 | €79,326 | = | 0.0% |
| Capital | 10 | €79,326 | - | -€79,326 | |
| Issued capital | 100 | €79,326 | - | -€79,326 | |
| Reserves | 13 | €392,196 | €378,728 | -€13,468 | -3.4% |
| Tax-exempt reserves | 132 | €279,007 | €265,539 | -€13,468 | -4.8% |
| Distributable reserves | 133 | €113,189 | €113,189 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,923 | -€69,418 | -€9,495 | -15.8% |
| Provisions and deferred taxes | 16 | €93,002 | €88,513 | -€4,489 | -4.8% |
| Deferred taxes | 168 | €93,002 | €88,513 | -€4,489 | -4.8% |
| Amounts payable | 17/49 | €18,285 | €8,106 | -€10,179 | -55.7% |
| Amounts payable after more than one year | 17 | €4,040 | €1,200 | -€2,840 | -70.3% |
| Other amounts payable | 178/9 | €4,040 | €1,200 | -€2,840 | -70.3% |
| Amounts payable within one year | 42/48 | €13,429 | €6,906 | -€6,523 | -48.6% |
| Trade debts | 44 | €102 | €66 | -€36 | -35.3% |
| Suppliers | 440/4 | €102 | €66 | -€36 | -35.3% |
| Taxes, remuneration and social security | 45 | €2,253 | €347 | -€1,906 | -84.6% |
| Taxes | 450/3 | €2,253 | €347 | -€1,906 | -84.6% |
| Other amounts payable | 47/48 | €11,074 | €6,493 | -€4,581 | -41.4% |
| Accrued charges and deferred income | 492/3 | €816 | - | -€816 | |
| Remuneration, social security and pensions | 62 | - | €415 | +€415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,487 | €35,461 | +€974 | +2.8% |
| Other operating charges | 640/8 | €3,094 | €5,081 | +€1,987 | +64.2% |
| Gross operating margin | 9900 | €18,560 | €13,438 | -€5,122 | -27.6% |
| Operating profit (loss) | 9901 | -€19,021 | -€27,519 | -€8,498 | -44.7% |
| Financial income | 75/76B | €361 | €423 | +€62 | +17.2% |
| Recurring financial income | 75 | €288 | €423 | +€135 | +46.9% |
| Non-recurring financial income | 76B | €73 | - | -€73 | |
| Financial charges | 65/66B | €168 | €222 | +€54 | +32.1% |
| Recurring financial charges | 65 | €168 | €222 | +€54 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,828 | -€27,318 | -€8,490 | -45.1% |
| Transfer from deferred taxes | 780 | €4,443 | €4,489 | +€46 | +1.0% |
| Income taxes | 67/77 | €214 | €134 | -€80 | -37.4% |
| Profit (loss) for the period | 9904 | -€14,599 | -€22,963 | -€8,364 | -57.3% |
| Transfer from tax-exempt reserves | 789 | €13,328 | €13,468 | +€140 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,271 | -€9,495 | -€8,224 | -647.0% |
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 9 October 2026 via checked.be.