BGIM: what changed
What changed
BGIM
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
-€22,272
2024 · -€116,967+€94,694
Equity
€92,237
2024 · €114,509-€22,272
Cash
€118,241
2024 · €2,566+€115,675
Balance sheet total
€460,271
2024 · €198,887+€261,384
Largest movements
Assets
- Receivables after one year +€303,685
new in 2025: €303,685
- Receivables within one year -€163,700
down €163,700 (-83.5%), from €195,931 to €32,231
of which Other amounts receivable: -€183,700
- Cash +€115,675
up €115,675 (+4,508%), from €2,566 to €118,241
mainly Debts after one year (+€283,815) and Receivables within one year (+€163,700)
Equity and liabilities
- Debts after one year +€283,815
up €283,815 (+338%), from €83,871 to €367,686
- Reserves -€22,000
down €22,000 (-20.8%), from €106,000 to €84,000
Income statement
- Gross operating margin +€90,454
up €90,454 (+83.7%), from -€108,021 to -€17,566
- Other operating charges -€4,603
down €4,603 (-78.9%), from €5,833 to €1,230
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€116,967
Gross operating margin
+€90,454
Depreciation
+€158
Other operating charges
+€4,603
Financial charges
-€515
Taxes
-€5
Result 2025
-€22,272
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€164,205
Investment
-€3,936
Financing
+€283,815
Cash 2024
€2,566
From operations (derived)
-€164,205
Net result for the year
-€22,272
Depreciation
+€727
Receivables after one year
-€303,685
Receivables within one year
+€163,700
Deferred charges and accrued income
-€2,515
Smaller working-capital items
-€159
Investment (derived)
-€3,936
Investment in fixed assets (net)
-€3,936
Financing
+€283,815
Debts after one year
+€283,815
Cash 2025
€118,241
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €198,887 | €460,271 | +€261,384 | +131% |
| Fixed assets | 21/28 | €390 | €3,599 | +€3,209 | +823% |
| Tangible fixed assets | 22/27 | €390 | €3,599 | +€3,209 | +823% |
| Furniture and vehicles | 24 | €390 | €3,599 | +€3,209 | +823% |
| Current assets | 29/58 | €198,497 | €456,672 | +€258,175 | +130% |
| Amounts receivable after more than one year | 29 | - | €303,685 | +€303,685 | |
| Trade receivables | 290 | - | €303,685 | +€303,685 | |
| Amounts receivable within one year | 40/41 | €195,931 | €32,231 | -€163,700 | -83.5% |
| Trade receivables | 40 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 41 | €195,931 | €12,231 | -€183,700 | -93.8% |
| Cash at bank and in hand | 54/58 | €2,566 | €118,241 | +€115,675 | +4,508% |
| Deferred charges and accrued income | 490/1 | - | €2,515 | +€2,515 | |
| Total equity and liabilities | 10/49 | €198,887 | €460,271 | +€261,384 | +131% |
| Equity | 10/15 | €114,509 | €92,237 | -€22,272 | -19.5% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €106,000 | €84,000 | -€22,000 | -20.8% |
| Distributable reserves | 133 | €106,000 | €84,000 | -€22,000 | -20.8% |
| Profit (loss) carried forward | 14 | €449 | €177 | -€272 | -60.6% |
| Amounts payable | 17/49 | €84,378 | €368,034 | +€283,656 | +336% |
| Amounts payable after more than one year | 17 | €83,871 | €367,686 | +€283,815 | +338% |
| Other amounts payable | 178/9 | €83,871 | €367,686 | +€283,815 | +338% |
| Amounts payable within one year | 42/48 | €202 | €347 | +€146 | +72.2% |
| Trade debts | 44 | €189 | €281 | +€93 | +49.1% |
| Suppliers | 440/4 | €189 | €281 | +€93 | +49.1% |
| Taxes, remuneration and social security | 45 | €13 | €66 | +€53 | +400% |
| Taxes | 450/3 | €13 | €66 | +€53 | +400% |
| Accrued charges and deferred income | 492/3 | €305 | - | -€305 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €885 | €727 | -€158 | -17.8% |
| Other operating charges | 640/8 | €5,833 | €1,230 | -€4,603 | -78.9% |
| Gross operating margin | 9900 | -€108,021 | -€17,566 | +€90,454 | +83.7% |
| Operating profit (loss) | 9901 | -€114,738 | -€19,523 | +€95,215 | +83.0% |
| Financial charges | 65/66B | €2,234 | €2,749 | +€515 | +23.1% |
| Recurring financial charges | 65 | €2,234 | €2,749 | +€515 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | -€116,972 | -€22,272 | +€94,700 | +81.0% |
| Income taxes | 67/77 | -€5 | - | +€5 | |
| Profit (loss) for the period | 9904 | -€116,967 | -€22,272 | +€94,694 | +81.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€116,967 | -€22,272 | +€94,694 | +81.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.