Besog: 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.
Besog
Largest movements
- Financial fixed assets +€5.7m
up €5.7m (+1606.5%), from €356,000 to €6.1m
- Receivables within one year +€3.9m
up €3.9m (+69.5%), from €5.6m to €9.5m
- Tangible fixed assets +€1.1m
new in 2025: €1.1m
- Stocks and contracts -€853,600
down €853,600 (-62.9%), from €1.4m to €502,664
- Other debts +€9.8m
up €9.8m (+141.4%), from €6.9m to €16.7m
- Financial income +€632,057
up €632,057 (+6502.0%), from €9,721 to €641,778
- Financial charges +€483,023
up €483,023 (+2906.5%), from €16,619 to €499,642
- Gross operating margin +€34,535
up €34,535 (+208.0%), from €16,606 to €51,141
- Taxes +€8,382
new in 2025: €8,382
- Other operating charges +€5,231
up €5,231 (+90.4%), from €5,788 to €11,019
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 | €7,396,194 | €17,246,339 | +€9.9m | +133.2% |
| Fixed assets | 21/28 | €356,000 | €7,153,614 | +€6.8m | +1909.4% |
| Tangible fixed assets | 22/27 | - | €1,078,614 | +€1.1m | |
| Land and buildings | 22 | - | €1,078,614 | +€1.1m | |
| Financial fixed assets | 28 | €356,000 | €6,075,000 | +€5.7m | +1606.5% |
| Current assets | 29/58 | €7,040,194 | €10,092,725 | +€3.1m | +43.4% |
| Stocks and contracts in progress | 3 | €1,356,264 | €502,664 | -€853,600 | -62.9% |
| Stocks | 30/36 | €1,356,264 | €502,664 | -€853,600 | -62.9% |
| Amounts receivable within one year | 40/41 | €5,626,720 | €9,537,498 | +€3.9m | +69.5% |
| Other amounts receivable | 41 | €5,626,720 | €9,537,498 | +€3.9m | +69.5% |
| Cash at bank and in hand | 54/58 | €57,210 | €47,338 | -€9,872 | -17.3% |
| Deferred charges and accrued income | 490/1 | - | €5,225 | +€5,225 | |
| Total equity and liabilities | 10/49 | €7,396,194 | €17,246,339 | +€9.9m | +133.2% |
| Equity | 10/15 | €355,456 | €529,332 | +€173,876 | +48.9% |
| Contributions | 10/11 | €501,000 | €501,000 | = | 0.0% |
| Reserves | 13 | - | €28,332 | +€28,332 | |
| Distributable reserves | 133 | - | €28,332 | +€28,332 | |
| Profit (loss) carried forward | 14 | -€145,544 | - | +€145,544 | |
| Amounts payable | 17/49 | €7,040,738 | €16,717,007 | +€9.7m | +137.4% |
| Amounts payable after more than one year | 17 | - | €14,865 | +€14,865 | |
| Other amounts payable | 178/9 | - | €14,865 | +€14,865 | |
| Amounts payable within one year | 42/48 | €7,038,321 | €16,697,891 | +€9.7m | +137.2% |
| Trade debts | 44 | €457 | - | -€457 | |
| Suppliers | 440/4 | €457 | - | -€457 | |
| Taxes, remuneration and social security | 45 | €122,977 | €8,408 | -€114,569 | -93.2% |
| Taxes | 450/3 | €122,977 | €8,408 | -€114,569 | -93.2% |
| Other amounts payable | 47/48 | €6,914,887 | €16,689,483 | +€9.8m | +141.4% |
| Accrued charges and deferred income | 492/3 | €2,417 | €4,251 | +€1,834 | +75.9% |
| Other operating charges | 640/8 | €5,788 | €11,019 | +€5,231 | +90.4% |
| Gross operating margin | 9900 | €16,606 | €51,141 | +€34,535 | +208.0% |
| Operating profit (loss) | 9901 | €10,818 | €40,122 | +€29,304 | +270.9% |
| Financial income | 75/76B | €9,721 | €641,778 | +€632,057 | +6502.0% |
| Recurring financial income | 75 | €9,721 | €641,778 | +€632,057 | +6502.0% |
| Financial charges | 65/66B | €16,619 | €499,642 | +€483,023 | +2906.5% |
| Recurring financial charges | 65 | €16,619 | €499,642 | +€483,023 | +2906.5% |
| Profit (loss) for the period before taxes | 9903 | €3,920 | €182,258 | +€178,338 | +4549.4% |
| Income taxes | 67/77 | - | €8,382 | +€8,382 | |
| Profit (loss) for the period | 9904 | €3,920 | €173,876 | +€169,956 | +4335.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,920 | €173,876 | +€169,956 | +4335.6% |
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 6 October 2026 via checked.be.