BEGAL: 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.
BEGAL
Largest movements
- Cash +€77,199
up €77,199 (+129.8%), from €59,470 to €136,669
mainly Net result for the year (+€149,310) and Depreciation (+€62,807)
- Tangible fixed assets -€54,107
down €54,107 (-22.8%), from €237,132 to €183,025
of which Plant, machinery and equipment: -€45,449
- Receivables within one year +€30,448
up €30,448 (+9.0%), from €339,691 to €370,139
of which Trade receivables: +€34,851
- Deferred charges and accrued income +€12,925
up €12,925 (+21.1%), from €61,367 to €74,291
- Profit (loss) carried forward +€156,863
up €156,863 (+75.7%), from -€207,221 to -€50,358
- Other debts -€43,333
down €43,333 (-6.6%), from €656,546 to €613,213
- Debts after one year -€25,000
down €25,000 (-42.9%), from €58,333 to €33,333
- Trade debts -€9,458
down €9,458 (-5.6%), from €168,372 to €158,914
- Gross operating margin +€328,393
up €328,393, from -€103,105 to €225,289
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 | €762,777 | €828,775 | +€65,998 | +8.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €268,794 | €214,687 | -€54,107 | -20.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €237,132 | €183,025 | -€54,107 | -22.8% |
| Land and buildings | 22 | €4,230 | €3,410 | -€820 | -19.4% |
| Plant, machinery and equipment | 23 | €224,184 | €178,735 | -€45,449 | -20.3% |
| Furniture and vehicles | 24 | €8,719 | €880 | -€7,838 | -89.9% |
| Financial fixed assets | 28 | €31,662 | €31,662 | = | 0.0% |
| Current assets | 29/58 | €493,983 | €614,088 | +€120,105 | +24.3% |
| Stocks and contracts in progress | 3 | €33,455 | €32,989 | -€467 | -1.4% |
| Stocks | 30/36 | €33,455 | €32,989 | -€467 | -1.4% |
| Amounts receivable within one year | 40/41 | €339,691 | €370,139 | +€30,448 | +9.0% |
| Trade receivables | 40 | €335,288 | €370,139 | +€34,851 | +10.4% |
| Other amounts receivable | 41 | €4,403 | €0 | -€4,403 | -100.0% |
| Cash at bank and in hand | 54/58 | €59,470 | €136,669 | +€77,199 | +129.8% |
| Deferred charges and accrued income | 490/1 | €61,367 | €74,291 | +€12,925 | +21.1% |
| Total equity and liabilities | 10/49 | €762,777 | €828,775 | +€65,998 | +8.7% |
| Equity | 10/15 | -€162,322 | -€13,012 | +€149,310 | +92.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €38,699 | €31,146 | -€7,554 | -19.5% |
| Tax-exempt reserves | 132 | €38,699 | €31,146 | -€7,554 | -19.5% |
| Profit (loss) carried forward | 14 | -€207,221 | -€50,358 | +€156,863 | +75.7% |
| Provisions and deferred taxes | 16 | €12,900 | €10,382 | -€2,518 | -19.5% |
| Deferred taxes | 168 | €12,900 | €10,382 | -€2,518 | -19.5% |
| Amounts payable | 17/49 | €912,199 | €831,406 | -€80,794 | -8.9% |
| Amounts payable after more than one year | 17 | €58,333 | €33,333 | -€25,000 | -42.9% |
| Financial debts | 170/4 | €58,333 | €33,333 | -€25,000 | -42.9% |
| Amounts payable within one year | 42/48 | €853,289 | €797,130 | -€56,159 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €168,372 | €158,914 | -€9,458 | -5.6% |
| Suppliers | 440/4 | €168,372 | €158,914 | -€9,458 | -5.6% |
| Taxes, remuneration and social security | 45 | €3,371 | €3 | -€3,368 | -99.9% |
| Taxes | 450/3 | €3,371 | €3 | -€3,368 | -99.9% |
| Other amounts payable | 47/48 | €656,546 | €613,213 | -€43,333 | -6.6% |
| Accrued charges and deferred income | 492/3 | €577 | €942 | +€365 | +63.3% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,811 | €62,807 | +€996 | +1.6% |
| Other operating charges | 640/8 | €13,328 | €11,177 | -€2,151 | -16.1% |
| Gross operating margin | 9900 | -€103,105 | €225,289 | +€328,393 | |
| Operating profit (loss) | 9901 | -€178,243 | €151,305 | +€329,548 | |
| Financial income | 75/76B | €937 | €340 | -€598 | -63.8% |
| Recurring financial income | 75 | €937 | €340 | -€598 | -63.8% |
| Financial charges | 65/66B | €4,573 | €3,544 | -€1,029 | -22.5% |
| Recurring financial charges | 65 | €4,573 | €3,544 | -€1,029 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | -€181,879 | €148,100 | +€329,979 | |
| Transfer from deferred taxes | 780 | €2,518 | €2,518 | = | 0.0% |
| Income taxes | 67/77 | €828 | €1,308 | +€480 | +58.0% |
| Profit (loss) for the period | 9904 | -€180,189 | €149,310 | +€329,499 | |
| Transfer from tax-exempt reserves | 789 | €7,554 | €7,554 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€172,635 | €156,863 | +€329,499 |
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.