BG ADVICE: 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.
BG ADVICE
Largest movements
- Tangible fixed assets -€23,040
down €23,040 (-6.1%), from €376,278 to €353,238
of which Land and buildings: -€20,342
- Intangible fixed assets -€21,435
down €21,435 (-23.0%), from €93,153 to €71,718
- Receivables within one year +€6,386
up €6,386 (+43.4%), from €14,706 to €21,092
- Cash -€5,129
down €5,129 (-26.8%), from €19,117 to €13,988
mainly Debts after one year (-€33,561) and Tax, wage and social debts (-€11,471)
- Debts after one year -€33,561
down €33,561 (-10.0%), from €335,105 to €301,544
- Tax, wage and social debts -€11,471
down €11,471 (-49.3%), from €23,249 to €11,778
of which Taxes: -€11,471
- Trade debts +€8,763
up €8,763 (+19.9%), from €43,988 to €52,752
of which Bills of exchange payable: +€5,617
- Other debts -€7,086
down €7,086 (-13.7%), from €51,911 to €44,825
- Gross operating margin +€37,356
up €37,356 (+110%), from €33,898 to €71,255
- Depreciation +€12,730
up €12,730 (+36.1%), from €35,260 to €47,990
- Financial charges +€5,668
up €5,668 (+63.1%), from €8,979 to €14,648
- Taxes +€2,613
up €2,613, from -€417 to €2,196
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.
Derived cash bridge
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 | €504,658 | €464,185 | -€40,473 | -8.0% |
| Fixed assets | 21/28 | €469,920 | €425,445 | -€44,475 | -9.5% |
| Intangible fixed assets | 21 | €93,153 | €71,718 | -€21,435 | -23.0% |
| Tangible fixed assets | 22/27 | €376,278 | €353,238 | -€23,040 | -6.1% |
| Land and buildings | 22 | €368,703 | €348,362 | -€20,342 | -5.5% |
| Plant, machinery and equipment | 23 | €1,580 | €1,237 | -€342 | -21.7% |
| Furniture and vehicles | 24 | €5,995 | €3,640 | -€2,355 | -39.3% |
| Financial fixed assets | 28 | €489 | €489 | = | 0.0% |
| Current assets | 29/58 | €34,738 | €38,739 | +€4,002 | +11.5% |
| Amounts receivable within one year | 40/41 | €14,706 | €21,092 | +€6,386 | +43.4% |
| Trade receivables | 40 | €14,706 | €21,092 | +€6,386 | +43.4% |
| Cash at bank and in hand | 54/58 | €19,117 | €13,988 | -€5,129 | -26.8% |
| Deferred charges and accrued income | 490/1 | €915 | €3,660 | +€2,745 | +300% |
| Total equity and liabilities | 10/49 | €504,658 | €464,185 | -€40,473 | -8.0% |
| Equity | 10/15 | €17,646 | €19,725 | +€2,079 | +11.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €26,260 | €26,260 | = | 0.0% |
| Distributable reserves | 133 | €26,260 | €26,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,613 | -€11,534 | +€2,079 | +15.3% |
| Amounts payable | 17/49 | €487,012 | €444,459 | -€42,552 | -8.7% |
| Amounts payable after more than one year | 17 | €335,105 | €301,544 | -€33,561 | -10.0% |
| Financial debts | 170/4 | €335,105 | €301,544 | -€33,561 | -10.0% |
| Amounts payable within one year | 42/48 | €151,906 | €142,915 | -€8,991 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €32,759 | €33,561 | +€802 | +2.4% |
| Trade debts | 44 | €43,988 | €52,752 | +€8,763 | +19.9% |
| Suppliers | 440/4 | €43,988 | €47,135 | +€3,146 | +7.2% |
| Bills of exchange payable | 441 | - | €5,617 | +€5,617 | |
| Taxes, remuneration and social security | 45 | €23,249 | €11,778 | -€11,471 | -49.3% |
| Taxes | 450/3 | €21,099 | €9,628 | -€11,471 | -54.4% |
| Remuneration and social security | 454/9 | €2,150 | €2,150 | = | 0.0% |
| Other amounts payable | 47/48 | €51,911 | €44,825 | -€7,086 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,260 | €47,990 | +€12,730 | +36.1% |
| Other operating charges | 640/8 | €3,726 | €4,378 | +€652 | +17.5% |
| Gross operating margin | 9900 | €33,898 | €71,255 | +€37,356 | +110% |
| Operating profit (loss) | 9901 | -€5,088 | €18,886 | +€23,974 | |
| Financial income | 75/76B | €36 | €36 | +€0 | +0.3% |
| Recurring financial income | 75 | €36 | €36 | +€0 | +0.3% |
| Financial charges | 65/66B | €8,979 | €14,648 | +€5,668 | +63.1% |
| Recurring financial charges | 65 | €8,979 | €14,648 | +€5,668 | +63.1% |
| Profit (loss) for the period before taxes | 9903 | -€14,031 | €4,275 | +€18,306 | |
| Income taxes | 67/77 | -€417 | €2,196 | +€2,613 | |
| Profit (loss) for the period | 9904 | -€13,613 | €2,079 | +€15,693 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,613 | €2,079 | +€15,693 |
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 13 October 2026 via checked.be.