BGI: 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.
BGI
Largest movements
- Tangible fixed assets +€521,408
up €521,408 (+107.8%), from €483,546 to €1.0m
- Receivables within one year -€50,079
down €50,079 (-90.0%), from €55,651 to €5,571
- Debts after one year +€356,626
up €356,626 (+102.5%), from €347,950 to €704,577
- Other debts +€94,196
up €94,196 (+583.2%), from €16,152 to €110,348
- Current portion of long-term debt +€19,340
up €19,340 (+74.1%), from €26,095 to €45,434
- Depreciation +€64,581
up €64,581 (+602.9%), from €10,712 to €75,293
- Gross operating margin +€56,028
up €56,028 (+170.6%), from €32,845 to €88,873
- Financial charges +€6,866
up €6,866 (+189.4%), from €3,625 to €10,490
- Taxes -€3,244
no longer reported in 2025 (was €3,244)
- Other operating charges +€1,481
up €1,481 (+64.8%), from €2,288 to €3,769
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 | €546,503 | €1,016,147 | +€469,643 | +85.9% |
| Fixed assets | 21/28 | €483,546 | €1,004,954 | +€521,408 | +107.8% |
| Tangible fixed assets | 22/27 | €483,546 | €1,004,954 | +€521,408 | +107.8% |
| Land and buildings | 22 | €483,546 | €1,004,954 | +€521,408 | +107.8% |
| Current assets | 29/58 | €62,957 | €11,193 | -€51,764 | -82.2% |
| Amounts receivable within one year | 40/41 | €55,651 | €5,571 | -€50,079 | -90.0% |
| Other amounts receivable | 41 | €55,651 | €5,571 | -€50,079 | -90.0% |
| Cash at bank and in hand | 54/58 | €5,466 | €3,247 | -€2,220 | -40.6% |
| Deferred charges and accrued income | 490/1 | €1,840 | €2,375 | +€534 | +29.0% |
| Total equity and liabilities | 10/49 | €546,503 | €1,016,147 | +€469,643 | +85.9% |
| Equity | 10/15 | €156,048 | €155,369 | -€679 | -0.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €151,048 | €150,369 | -€679 | -0.4% |
| Distributable reserves | 133 | €151,048 | €150,369 | -€679 | -0.4% |
| Amounts payable | 17/49 | €390,456 | €860,778 | +€470,322 | +120.5% |
| Amounts payable after more than one year | 17 | €347,950 | €704,577 | +€356,626 | +102.5% |
| Financial debts | 170/4 | €347,950 | €704,577 | +€356,626 | +102.5% |
| Amounts payable within one year | 42/48 | €42,505 | €156,201 | +€113,696 | +267.5% |
| Current portion of amounts payable after more than one year | 42 | €26,095 | €45,434 | +€19,340 | +74.1% |
| Trade debts | 44 | €259 | €419 | +€161 | +62.1% |
| Suppliers | 440/4 | €259 | €419 | +€161 | +62.1% |
| Other amounts payable | 47/48 | €16,152 | €110,348 | +€94,196 | +583.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,712 | €75,293 | +€64,581 | +602.9% |
| Other operating charges | 640/8 | €2,288 | €3,769 | +€1,481 | +64.8% |
| Gross operating margin | 9900 | €32,845 | €88,873 | +€56,028 | +170.6% |
| Operating profit (loss) | 9901 | €19,846 | €9,811 | -€10,034 | -50.6% |
| Financial charges | 65/66B | €3,625 | €10,490 | +€6,866 | +189.4% |
| Recurring financial charges | 65 | €3,625 | €10,490 | +€6,866 | +189.4% |
| Profit (loss) for the period before taxes | 9903 | €16,221 | -€679 | -€16,900 | |
| Income taxes | 67/77 | €3,244 | - | -€3,244 | |
| Profit (loss) for the period | 9904 | €12,977 | -€679 | -€13,656 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,977 | -€679 | -€13,656 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.