BG IMMO: 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 IMMO
Largest movements
- Tangible fixed assets +€470,776
up €470,776 (+112.2%), from €419,472 to €890,248
of which Land and buildings: +€470,436
- Cash -€14,076
down €14,076 (-81.9%), from €17,190 to €3,115
mainly Investment in fixed assets (net) (-€516,273) and Debts after one year (-€35,962)
- Revaluation surpluses +€500,000
new in 2025: €500,000
- Debts after one year -€35,962
down €35,962 (-12.9%), from €279,283 to €243,322
of which Financial debts: -€34,112
- Gross operating margin +€16,514
up €16,514 (+51.1%), from €32,345 to €48,859
- Depreciation +€2,997
up €2,997 (+7.1%), from €42,500 to €45,497
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 | €549,300 | €1,012,411 | +€463,111 | +84.3% |
| Fixed assets | 21/28 | €419,472 | €890,248 | +€470,776 | +112.2% |
| Tangible fixed assets | 22/27 | €419,472 | €890,248 | +€470,776 | +112.2% |
| Land and buildings | 22 | €417,083 | €887,519 | +€470,436 | +112.8% |
| Plant, machinery and equipment | 23 | €2,389 | €2,729 | +€340 | +14.2% |
| Current assets | 29/58 | €129,828 | €122,163 | -€7,665 | -5.9% |
| Amounts receivable within one year | 40/41 | €112,637 | €118,189 | +€5,552 | +4.9% |
| Trade receivables | 40 | €112,522 | €118,189 | +€5,667 | +5.0% |
| Other amounts receivable | 41 | €115 | - | -€115 | |
| Cash at bank and in hand | 54/58 | €17,190 | €3,115 | -€14,076 | -81.9% |
| Deferred charges and accrued income | 490/1 | - | €859 | +€859 | |
| Total equity and liabilities | 10/49 | €549,300 | €1,012,411 | +€463,111 | +84.3% |
| Equity | 10/15 | -€30,471 | €460,850 | +€491,321 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €500,000 | +€500,000 | |
| Profit (loss) carried forward | 14 | -€50,471 | -€59,150 | -€8,679 | -17.2% |
| Amounts payable | 17/49 | €579,771 | €551,561 | -€28,209 | -4.9% |
| Amounts payable after more than one year | 17 | €279,283 | €243,322 | -€35,962 | -12.9% |
| Financial debts | 170/4 | €271,483 | €237,372 | -€34,112 | -12.6% |
| Other amounts payable | 178/9 | €7,800 | €5,950 | -€1,850 | -23.7% |
| Amounts payable within one year | 42/48 | €300,487 | €308,240 | +€7,752 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €39,775 | €37,192 | -€2,583 | -6.5% |
| Trade debts | 44 | €2,457 | €1,994 | -€463 | -18.9% |
| Suppliers | 440/4 | €2,457 | €1,994 | -€463 | -18.9% |
| Taxes, remuneration and social security | 45 | - | €1,799 | +€1,799 | |
| Taxes | 450/3 | - | €1,799 | +€1,799 | |
| Other amounts payable | 47/48 | €258,255 | €267,255 | +€9,000 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,500 | €45,497 | +€2,997 | +7.1% |
| Other operating charges | 640/8 | €7,703 | €7,933 | +€230 | +3.0% |
| Gross operating margin | 9900 | €32,345 | €48,859 | +€16,514 | +51.1% |
| Operating profit (loss) | 9901 | -€17,858 | -€4,571 | +€13,287 | +74.4% |
| Financial income | 75/76B | €210 | - | -€210 | |
| Recurring financial income | 75 | €210 | - | -€210 | |
| Financial charges | 65/66B | €4,569 | €4,108 | -€461 | -10.1% |
| Recurring financial charges | 65 | €4,569 | €4,108 | -€461 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€22,217 | -€8,679 | +€13,538 | +60.9% |
| Profit (loss) for the period | 9904 | -€22,217 | -€8,679 | +€13,538 | +60.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,217 | -€8,679 | +€13,538 | +60.9% |
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 11 October 2026 via checked.be.