BCON: 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.
BCON
Largest movements
- Receivables within one year +€102,525
up €102,525 (+77.1%), from €132,962 to €235,488
of which Other amounts receivable: +€106,795
- Tangible fixed assets -€19,300
down €19,300 (-23.2%), from €83,150 to €63,850
of which Land and buildings: -€10,795
- Cash -€17,784
down €17,784 (-38.9%), from €45,697 to €27,913
mainly Receivables within one year (-€102,525) and Debts after one year (-€13,168)
- Reserves +€70,680
up €70,680 (+45.6%), from €154,882 to €225,562
- Tax, wage and social debts +€18,936
up €18,936 (+123.4%), from €15,349 to €34,285
of which Taxes: +€14,498
- Debts after one year -€13,168
down €13,168 (-22.4%), from €58,786 to €45,618
- Accrued charges and deferred income -€4,222
no longer reported in 2025 (was €4,222)
- Gross operating margin +€33,147
up €33,147 (+32.5%), from €101,877 to €135,024
- Taxes +€17,477
up €17,477 (+84.3%), from €20,730 to €38,207
- Depreciation -€2,855
down €2,855 (-13.3%), from €21,447 to €18,593
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 | €265,289 | €331,630 | +€66,342 | +25.0% |
| Fixed assets | 21/28 | €83,150 | €63,850 | -€19,300 | -23.2% |
| Tangible fixed assets | 22/27 | €83,150 | €63,850 | -€19,300 | -23.2% |
| Land and buildings | 22 | €71,734 | €60,940 | -€10,795 | -15.0% |
| Furniture and vehicles | 24 | €4,783 | €2,910 | -€1,873 | -39.2% |
| Leasing and similar rights | 25 | €6,633 | - | -€6,633 | |
| Current assets | 29/58 | €182,139 | €267,780 | +€85,642 | +47.0% |
| Amounts receivable within one year | 40/41 | €132,962 | €235,488 | +€102,525 | +77.1% |
| Trade receivables | 40 | €9,360 | €5,090 | -€4,270 | -45.6% |
| Other amounts receivable | 41 | €123,603 | €230,398 | +€106,795 | +86.4% |
| Cash at bank and in hand | 54/58 | €45,697 | €27,913 | -€17,784 | -38.9% |
| Deferred charges and accrued income | 490/1 | €3,479 | €4,380 | +€900 | +25.9% |
| Total equity and liabilities | 10/49 | €265,289 | €331,630 | +€66,342 | +25.0% |
| Equity | 10/15 | €161,132 | €231,812 | +€70,680 | +43.9% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €154,882 | €225,562 | +€70,680 | +45.6% |
| Distributable reserves | 133 | €154,882 | €225,562 | +€70,680 | +45.6% |
| Amounts payable | 17/49 | €104,157 | €99,819 | -€4,338 | -4.2% |
| Amounts payable after more than one year | 17 | €58,786 | €45,618 | -€13,168 | -22.4% |
| Financial debts | 170/4 | €58,786 | €45,618 | -€13,168 | -22.4% |
| Amounts payable within one year | 42/48 | €41,149 | €54,201 | +€13,052 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €18,969 | €16,893 | -€2,076 | -10.9% |
| Trade debts | 44 | €4,029 | €3,023 | -€1,006 | -25.0% |
| Suppliers | 440/4 | €4,029 | €3,023 | -€1,006 | -25.0% |
| Taxes, remuneration and social security | 45 | €15,349 | €34,285 | +€18,936 | +123.4% |
| Taxes | 450/3 | €15,349 | €29,847 | +€14,498 | +94.5% |
| Remuneration and social security | 454/9 | - | €4,438 | +€4,438 | |
| Other amounts payable | 47/48 | €2,802 | - | -€2,802 | |
| Accrued charges and deferred income | 492/3 | €4,222 | - | -€4,222 | |
| Non-recurring operating income | 76A | - | €42 | +€42 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,447 | €18,593 | -€2,855 | -13.3% |
| Other operating charges | 640/8 | €706 | €1,458 | +€752 | +106.4% |
| Gross operating margin | 9900 | €101,877 | €135,024 | +€33,147 | +32.5% |
| Operating profit (loss) | 9901 | €79,723 | €114,974 | +€35,251 | +44.2% |
| Financial income | 75/76B | €107 | €6 | -€101 | -94.6% |
| Recurring financial income | 75 | €107 | €6 | -€101 | -94.6% |
| Financial charges | 65/66B | €6,015 | €6,093 | +€78 | +1.3% |
| Recurring financial charges | 65 | €6,015 | €6,093 | +€78 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €73,814 | €108,886 | +€35,072 | +47.5% |
| Income taxes | 67/77 | €20,730 | €38,207 | +€17,477 | +84.3% |
| Profit (loss) for the period | 9904 | €53,084 | €70,680 | +€17,596 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,084 | €70,680 | +€17,596 | +33.1% |
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.