BDGRO: 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.
BDGRO
Largest movements
- Receivables within one year +€161,851
up €161,851 (+114.5%), from €141,338 to €303,189
of which Trade receivables: +€185,286
- Tangible fixed assets +€79,177
up €79,177 (+19.4%), from €408,150 to €487,327
of which Plant, machinery and equipment: +€64,530
- Cash +€71,610
up €71,610 (+79.1%), from €90,516 to €162,125
mainly Depreciation (+€145,372) and Trade debts (+€108,349)
- Trade debts +€108,349
up €108,349 (+165.3%), from €65,555 to €173,904
- Reserves +€106,858
up €106,858 (+46.5%), from €229,671 to €336,530
of which Distributable reserves: +€106,858
- Debts after one year +€56,672
up €56,672 (+36.0%), from €157,594 to €214,266
- Advances received +€23,984
new in 2025: €23,984
- Gross operating margin +€168,276
up €168,276 (+36.6%), from €460,071 to €628,347
- Staff costs +€62,254
up €62,254 (+31.6%), from €196,874 to €259,128
- Financial charges -€44,565
down €44,565 (-57.8%), from €77,157 to €32,591
- Taxes +€35,036
up €35,036 (+311.6%), from €11,243 to €46,279
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 | €640,138 | €952,776 | +€312,638 | +48.8% |
| Fixed assets | 21/28 | €408,285 | €487,462 | +€79,177 | +19.4% |
| Tangible fixed assets | 22/27 | €408,150 | €487,327 | +€79,177 | +19.4% |
| Plant, machinery and equipment | 23 | €118,089 | €182,619 | +€64,530 | +54.6% |
| Furniture and vehicles | 24 | €290,060 | €304,708 | +€14,648 | +5.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €231,854 | €465,314 | +€233,461 | +100.7% |
| Amounts receivable within one year | 40/41 | €141,338 | €303,189 | +€161,851 | +114.5% |
| Trade receivables | 40 | €108,751 | €294,037 | +€185,286 | +170.4% |
| Other amounts receivable | 41 | €32,587 | €9,152 | -€23,435 | -71.9% |
| Cash at bank and in hand | 54/58 | €90,516 | €162,125 | +€71,610 | +79.1% |
| Total equity and liabilities | 10/49 | €640,138 | €952,776 | +€312,638 | +48.8% |
| Equity | 10/15 | €248,271 | €355,130 | +€106,858 | +43.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €229,671 | €336,530 | +€106,858 | +46.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €227,811 | €334,670 | +€106,858 | +46.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €391,867 | €597,647 | +€205,780 | +52.5% |
| Amounts payable after more than one year | 17 | €157,594 | €214,266 | +€56,672 | +36.0% |
| Financial debts | 170/4 | €157,594 | €214,266 | +€56,672 | +36.0% |
| Amounts payable within one year | 42/48 | €234,273 | €383,381 | +€149,108 | +63.6% |
| Current portion of amounts payable after more than one year | 42 | €105,600 | €115,033 | +€9,433 | +8.9% |
| Trade debts | 44 | €65,555 | €173,904 | +€108,349 | +165.3% |
| Suppliers | 440/4 | €65,555 | €173,904 | +€108,349 | +165.3% |
| Advances received on contracts in progress | 46 | - | €23,984 | +€23,984 | |
| Taxes, remuneration and social security | 45 | €50,291 | €57,364 | +€7,073 | +14.1% |
| Taxes | 450/3 | €39,490 | €38,554 | -€936 | -2.4% |
| Remuneration and social security | 454/9 | €10,800 | €18,810 | +€8,009 | +74.2% |
| Other amounts payable | 47/48 | €12,826 | €13,096 | +€270 | +2.1% |
| Non-recurring operating income | 76A | - | €83,258 | +€83,258 | |
| Remuneration, social security and pensions | 62 | €196,874 | €259,128 | +€62,254 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,631 | €145,372 | -€6,259 | -4.1% |
| Other operating charges | 640/8 | €4,973 | €4,302 | -€671 | -13.5% |
| Non-recurring operating charges | 66A | - | €33,877 | +€33,877 | |
| Gross operating margin | 9900 | €460,071 | €628,347 | +€168,276 | +36.6% |
| Operating profit (loss) | 9901 | €106,593 | €185,668 | +€79,075 | +74.2% |
| Financial income | 75/76B | €470 | €655 | +€185 | +39.3% |
| Recurring financial income | 75 | €470 | €655 | +€185 | +39.3% |
| Financial charges | 65/66B | €77,157 | €32,591 | -€44,565 | -57.8% |
| Recurring financial charges | 65 | €77,157 | €32,591 | -€44,565 | -57.8% |
| Profit (loss) for the period before taxes | 9903 | €29,907 | €153,732 | +€123,825 | +414.0% |
| Income taxes | 67/77 | €11,243 | €46,279 | +€35,036 | +311.6% |
| Profit (loss) for the period | 9904 | €18,664 | €107,453 | +€88,789 | +475.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,664 | €107,453 | +€88,789 | +475.7% |
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 5 October 2026 via checked.be.