BEGUCO: 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.
BEGUCO
Largest movements
- Current investments +€48,000
up €48,000 (+20.3%), from €236,000 to €284,000
- Cash -€45,992
down €45,992 (-16.1%), from €286,062 to €240,070
mainly Other debts (-€100,000) and Current investments (-€48,000)
- Reserves +€119,058
up €119,058 (+9.3%), from €1.3m to €1.4m
- Other debts -€100,000
down €100,000 (-17.1%), from €584,151 to €484,151
- Gross operating margin +€5,833
up €5,833 (+17.7%), from €32,947 to €38,780
- Taxes +€4,463
up €4,463 (+21.6%), from €20,709 to €25,173
- Financial income +€3,103
up €3,103 (+3.0%), from €103,723 to €106,826
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 | €1,915,454 | €1,918,430 | +€2,976 | +0.2% |
| Fixed assets | 21/28 | €1,393,392 | €1,394,208 | +€816 | +0.1% |
| Tangible fixed assets | 22/27 | - | €816 | +€816 | |
| Plant, machinery and equipment | 23 | - | €816 | +€816 | |
| Financial fixed assets | 28 | €1,393,392 | €1,393,392 | = | 0.0% |
| Current assets | 29/58 | €522,062 | €524,221 | +€2,159 | +0.4% |
| Current investments | 50/53 | €236,000 | €284,000 | +€48,000 | +20.3% |
| Cash at bank and in hand | 54/58 | €286,062 | €240,070 | -€45,992 | -16.1% |
| Deferred charges and accrued income | 490/1 | €0 | €152 | +€152 | |
| Total equity and liabilities | 10/49 | €1,915,454 | €1,918,430 | +€2,976 | +0.2% |
| Equity | 10/15 | €1,303,002 | €1,422,061 | +€119,058 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,284,402 | €1,403,461 | +€119,058 | +9.3% |
| Distributable reserves | 133 | €1,284,402 | €1,403,461 | +€119,058 | +9.3% |
| Amounts payable | 17/49 | €612,452 | €496,369 | -€116,083 | -19.0% |
| Amounts payable within one year | 42/48 | €612,452 | €496,369 | -€116,083 | -19.0% |
| Trade debts | 44 | €2,385 | €1,817 | -€569 | -23.8% |
| Suppliers | 440/4 | €2,385 | €1,817 | -€569 | -23.8% |
| Taxes, remuneration and social security | 45 | €25,916 | €10,401 | -€15,514 | -59.9% |
| Taxes | 450/3 | €22,223 | €6,709 | -€15,514 | -69.8% |
| Remuneration and social security | 454/9 | €3,693 | €3,693 | = | 0.0% |
| Other amounts payable | 47/48 | €584,151 | €484,151 | -€100,000 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €184 | +€184 | |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | €32,947 | €38,780 | +€5,833 | +17.7% |
| Operating profit (loss) | 9901 | €31,861 | €37,478 | +€5,617 | +17.6% |
| Financial income | 75/76B | €103,723 | €106,826 | +€3,103 | +3.0% |
| Recurring financial income | 75 | €103,723 | €106,826 | +€3,103 | +3.0% |
| Financial charges | 65/66B | €45 | €73 | +€28 | +61.1% |
| Recurring financial charges | 65 | €45 | €73 | +€28 | +61.1% |
| Profit (loss) for the period before taxes | 9903 | €135,539 | €144,231 | +€8,692 | +6.4% |
| Income taxes | 67/77 | €20,709 | €25,173 | +€4,463 | +21.6% |
| Profit (loss) for the period | 9904 | €114,830 | €119,058 | +€4,228 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €114,830 | €119,058 | +€4,228 | +3.7% |
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 7 October 2026 via checked.be.