BGHDL: 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.
BGHDL
Largest movements
- Current investments -€86,293
down €86,293 (-4.9%), from €1.8m to €1.7m
- Profit (loss) carried forward -€71,514
down €71,514 (-5,136%), from -€1,393 to -€72,906
- Debts after one year -€47,950
down €47,950 (-2.2%), from €2.2m to €2.1m
- Financial charges +€67,965
up €67,965 (+212%), from €32,036 to €100,001
- Financial income -€58,535
down €58,535 (-67.4%), from €86,910 to €28,375
- Gross operating margin +€10,679
up €10,679, from -€5,981 to €4,698
- Other operating charges +€1,936
up €1,936 (+6,453%), from €30 to €1,966
- Taxes +€845
up €845 (+47.6%), from €1,774 to €2,620
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 | €4,303,789 | €4,182,975 | -€120,814 | -2.8% |
| Fixed assets | 21/28 | €2,479,624 | €2,479,624 | = | 0.0% |
| Financial fixed assets | 28 | €2,479,624 | €2,479,624 | = | 0.0% |
| Current assets | 29/58 | €1,824,165 | €1,703,351 | -€120,814 | -6.6% |
| Amounts receivable within one year | 40/41 | €25,254 | €19,600 | -€5,654 | -22.4% |
| Other amounts receivable | 41 | €25,254 | €19,600 | -€5,654 | -22.4% |
| Current investments | 50/53 | €1,763,205 | €1,676,912 | -€86,293 | -4.9% |
| Cash at bank and in hand | 54/58 | €35,632 | €6,765 | -€28,867 | -81.0% |
| Deferred charges and accrued income | 490/1 | €73 | €74 | +€1 | +1.7% |
| Total equity and liabilities | 10/49 | €4,303,789 | €4,182,975 | -€120,814 | -2.8% |
| Equity | 10/15 | €1,098,607 | €1,027,094 | -€71,514 | -6.5% |
| Contributions | 10/11 | €1,100,000 | €1,100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,393 | -€72,906 | -€71,514 | -5,136% |
| Amounts payable | 17/49 | €3,205,182 | €3,155,882 | -€49,300 | -1.5% |
| Amounts payable after more than one year | 17 | €2,179,813 | €2,131,863 | -€47,950 | -2.2% |
| Financial debts | 170/4 | €2,179,813 | €2,131,863 | -€47,950 | -2.2% |
| Amounts payable within one year | 42/48 | €1,016,351 | €1,015,001 | -€1,350 | -0.1% |
| Other amounts payable | 47/48 | €1,016,351 | €1,015,001 | -€1,350 | -0.1% |
| Accrued charges and deferred income | 492/3 | €9,018 | €9,018 | = | 0.0% |
| Other operating charges | 640/8 | €30 | €1,966 | +€1,936 | +6,453% |
| Gross operating margin | 9900 | -€5,981 | €4,698 | +€10,679 | |
| Operating profit (loss) | 9901 | -€6,011 | €2,732 | +€8,743 | |
| Financial income | 75/76B | €86,910 | €28,375 | -€58,535 | -67.4% |
| Recurring financial income | 75 | €86,910 | €28,375 | -€58,535 | -67.4% |
| Financial charges | 65/66B | €32,036 | €100,001 | +€67,965 | +212% |
| Recurring financial charges | 65 | €32,036 | €100,001 | +€67,965 | +212% |
| Profit (loss) for the period before taxes | 9903 | €48,863 | -€68,894 | -€117,758 | |
| Income taxes | 67/77 | €1,774 | €2,620 | +€845 | +47.6% |
| Profit (loss) for the period | 9904 | €47,089 | -€71,514 | -€118,603 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,089 | -€71,514 | -€118,603 |
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 23 October 2026 via checked.be.