BGKM: 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.
BGKM
Largest movements
- Receivables within one year +€107,588
up €107,588 (+349.4%), from €30,795 to €138,382
of which Trade receivables: +€109,657
- Tangible fixed assets -€31,341
down €31,341 (-14.2%), from €219,946 to €188,605
of which Other tangible fixed assets: -€30,342
- Stocks and contracts -€19,944
down €19,944 (-24.8%), from €80,525 to €60,581
- Deferred charges and accrued income +€7,157
up €7,157 (+135.0%), from €5,301 to €12,459
- Profit (loss) carried forward +€146,392
up €146,392 (+35.5%), from -€412,792 to -€266,400
- Debts after one year -€66,464
down €66,464 (-26.1%), from €255,122 to €188,658
- Advances received -€13,003
down €13,003 (-4.7%), from €279,368 to €266,364
- Other debts -€8,638
down €8,638 (-18.5%), from €46,694 to €38,056
- Gross operating margin +€219,989
up €219,989 (+723648.1%), from €30 to €220,019
- Financial income +€11,827
up €11,827 (+72.5%), from €16,310 to €28,137
- Depreciation -€5,245
down €5,245 (-12.0%), from €43,698 to €38,452
- Staff costs +€2,370
up €2,370 (+4.7%), from €50,348 to €52,718
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 | €376,691 | €436,113 | +€59,422 | +15.8% |
| Fixed assets | 21/28 | €235,405 | €200,778 | -€34,627 | -14.7% |
| Intangible fixed assets | 21 | €15,381 | €12,096 | -€3,286 | -21.4% |
| Tangible fixed assets | 22/27 | €219,946 | €188,605 | -€31,341 | -14.2% |
| Furniture and vehicles | 24 | €15,799 | €14,800 | -€999 | -6.3% |
| Other tangible fixed assets | 26 | €204,147 | €173,805 | -€30,342 | -14.9% |
| Financial fixed assets | 28 | €78 | €78 | = | 0.0% |
| Current assets | 29/58 | €141,286 | €235,334 | +€94,049 | +66.6% |
| Stocks and contracts in progress | 3 | €80,525 | €60,581 | -€19,944 | -24.8% |
| Stocks | 30/36 | €80,525 | €60,581 | -€19,944 | -24.8% |
| Amounts receivable within one year | 40/41 | €30,795 | €138,382 | +€107,588 | +349.4% |
| Trade receivables | 40 | €28,533 | €138,190 | +€109,657 | +384.3% |
| Other amounts receivable | 41 | €2,261 | €192 | -€2,069 | -91.5% |
| Cash at bank and in hand | 54/58 | €24,664 | €23,912 | -€752 | -3.1% |
| Deferred charges and accrued income | 490/1 | €5,301 | €12,459 | +€7,157 | +135.0% |
| Total equity and liabilities | 10/49 | €376,691 | €436,113 | +€59,422 | +15.8% |
| Equity | 10/15 | -€312,792 | -€166,400 | +€146,392 | +46.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€412,792 | -€266,400 | +€146,392 | +35.5% |
| Amounts payable | 17/49 | €689,483 | €602,513 | -€86,970 | -12.6% |
| Amounts payable after more than one year | 17 | €255,122 | €188,658 | -€66,464 | -26.1% |
| Financial debts | 170/4 | €255,122 | €188,658 | -€66,464 | -26.1% |
| Amounts payable within one year | 42/48 | €424,913 | €404,630 | -€20,283 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €65,905 | €66,464 | +€559 | +0.8% |
| Trade debts | 44 | €18,926 | €19,771 | +€845 | +4.5% |
| Suppliers | 440/4 | €18,926 | €19,771 | +€845 | +4.5% |
| Advances received on contracts in progress | 46 | €279,368 | €266,364 | -€13,003 | -4.7% |
| Taxes, remuneration and social security | 45 | €14,020 | €13,975 | -€46 | -0.3% |
| Taxes | 450/3 | €6,549 | €6,587 | +€38 | +0.6% |
| Remuneration and social security | 454/9 | €7,471 | €7,388 | -€83 | -1.1% |
| Other amounts payable | 47/48 | €46,694 | €38,056 | -€8,638 | -18.5% |
| Accrued charges and deferred income | 492/3 | €9,448 | €9,225 | -€223 | -2.4% |
| Non-recurring operating income | 76A | €9,426 | - | -€9,426 | |
| Remuneration, social security and pensions | 62 | €50,348 | €52,718 | +€2,370 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,698 | €38,452 | -€5,245 | -12.0% |
| Other operating charges | 640/8 | €2,434 | €1,632 | -€802 | -33.0% |
| Gross operating margin | 9900 | €30 | €220,019 | +€219,989 | +723648.1% |
| Operating profit (loss) | 9901 | -€96,449 | €127,218 | +€223,667 | |
| Financial income | 75/76B | €16,310 | €28,137 | +€11,827 | +72.5% |
| Recurring financial income | 75 | €16,310 | €28,137 | +€11,827 | +72.5% |
| Financial charges | 65/66B | €8,845 | €8,701 | -€144 | -1.6% |
| Recurring financial charges | 65 | €8,845 | €8,701 | -€144 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€88,984 | €146,654 | +€235,638 | |
| Income taxes | 67/77 | €327 | €262 | -€65 | -19.7% |
| Profit (loss) for the period | 9904 | -€89,311 | €146,392 | +€235,703 | |
| Profit (loss) for the period to be appropriated | 9905 | -€89,311 | €146,392 | +€235,703 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.