BGFL: 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.
BGFL
Largest movements
- Cash +€52,170
up €52,170 (+64.0%), from €81,487 to €133,658
mainly Net result for the year (+€53,428) and Receivables within one year (+€16,365)
- Receivables within one year -€16,365
down €16,365 (-42.4%), from €38,572 to €22,208
of which Trade receivables: -€18,342
- Tangible fixed assets +€2,569
up €2,569 (+151.9%), from €1,691 to €4,260
of which Land and buildings: +€1,499
- Reserves +€41,075
up €41,075 (+42.6%), from €96,380 to €137,455
- Trade debts -€3,144
down €3,144 (-65.2%), from €4,821 to €1,678
- Gross operating margin -€5,772
down €5,772 (-7.6%), from €76,295 to €70,523
- Taxes -€1,876
down €1,876 (-10.7%), from €17,490 to €15,614
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 | €124,264 | €161,038 | +€36,775 | +29.6% |
| Fixed assets | 21/28 | €1,691 | €4,260 | +€2,569 | +151.9% |
| Tangible fixed assets | 22/27 | €1,691 | €4,260 | +€2,569 | +151.9% |
| Land and buildings | 22 | - | €1,499 | +€1,499 | |
| Plant, machinery and equipment | 23 | - | €1,262 | +€1,262 | |
| Other tangible fixed assets | 26 | €1,691 | €1,499 | -€192 | -11.4% |
| Current assets | 29/58 | €122,572 | €156,778 | +€34,206 | +27.9% |
| Amounts receivable within one year | 40/41 | €38,572 | €22,208 | -€16,365 | -42.4% |
| Trade receivables | 40 | €37,977 | €19,635 | -€18,342 | -48.3% |
| Other amounts receivable | 41 | €595 | €2,573 | +€1,977 | +332.2% |
| Cash at bank and in hand | 54/58 | €81,487 | €133,658 | +€52,170 | +64.0% |
| Deferred charges and accrued income | 490/1 | €2,513 | €913 | -€1,600 | -63.7% |
| Total equity and liabilities | 10/49 | €124,264 | €161,038 | +€36,775 | +29.6% |
| Equity | 10/15 | €98,380 | €139,455 | +€41,075 | +41.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €96,380 | €137,455 | +€41,075 | +42.6% |
| Distributable reserves | 133 | €96,380 | €137,455 | +€41,075 | +42.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €25,884 | €21,583 | -€4,301 | -16.6% |
| Amounts payable within one year | 42/48 | €25,131 | €21,583 | -€3,548 | -14.1% |
| Financial debts | 43 | €6,100 | €6,072 | -€28 | -0.5% |
| Credit institutions | 430/8 | €6,100 | €6,072 | -€28 | -0.5% |
| Trade debts | 44 | €4,821 | €1,678 | -€3,144 | -65.2% |
| Suppliers | 440/4 | €4,821 | €1,678 | -€3,144 | -65.2% |
| Taxes, remuneration and social security | 45 | €10,899 | €11,270 | +€371 | +3.4% |
| Taxes | 450/3 | €10,899 | €11,270 | +€371 | +3.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,311 | €2,564 | -€747 | -22.6% |
| Accrued charges and deferred income | 492/3 | €753 | €0 | -€753 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €192 | €635 | +€443 | +230.1% |
| Other operating charges | 640/8 | €709 | €529 | -€181 | -25.5% |
| Gross operating margin | 9900 | €76,295 | €70,523 | -€5,772 | -7.6% |
| Operating profit (loss) | 9901 | €75,394 | €69,360 | -€6,034 | -8.0% |
| Financial income | 75/76B | €313 | €623 | +€310 | +99.0% |
| Recurring financial income | 75 | €313 | €623 | +€310 | +99.0% |
| Financial charges | 65/66B | €1,128 | €941 | -€188 | -16.6% |
| Recurring financial charges | 65 | €1,128 | €941 | -€188 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €74,579 | €69,042 | -€5,536 | -7.4% |
| Income taxes | 67/77 | €17,490 | €15,614 | -€1,876 | -10.7% |
| Profit (loss) for the period | 9904 | €57,089 | €53,428 | -€3,660 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,089 | €53,428 | -€3,660 | -6.4% |
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.