BGLO: 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.
BGLO
Largest movements
- Cash +€172,806
up €172,806 (+99.8%), from €173,115 to €345,921
mainly Net result for the year (+€147,164) and Debts after one year (+€129,307)
- Tangible fixed assets +€89,276
up €89,276 (+93.0%), from €96,016 to €185,292
of which Plant, machinery and equipment: +€68,117
- Stocks and contracts +€20,959
up €20,959 (+222.9%), from €9,402 to €30,360
- Debts after one year +€129,307
new in 2025: €129,307
- Profit (loss) carried forward +€123,635
up €123,635 (+52.0%), from €237,941 to €361,576
- Current portion of long-term debt +€19,244
new in 2025: €19,244
- Tax, wage and social debts +€10,150
up €10,150 (+29.6%), from €34,293 to €44,443
of which Remuneration and social security: +€14,894
- Trade debts +€6,393
up €6,393 (+27.5%), from €23,225 to €29,617
- Purchases and services +€360,906
up €360,906 (+57.4%), from €628,821 to €989,727
- Gross operating margin +€332,619
up €332,619 (+61.4%), from €541,486 to €874,104
- Staff costs +€261,181
up €261,181 (+75.7%), from €345,224 to €606,405
- Depreciation +€29,163
up €29,163 (+95.9%), from €30,404 to €59,566
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 | €321,918 | €609,172 | +€287,253 | +89.2% |
| Fixed assets | 21/28 | €98,266 | €185,292 | +€87,026 | +88.6% |
| Intangible fixed assets | 21 | €2,250 | - | -€2,250 | |
| Tangible fixed assets | 22/27 | €96,016 | €185,292 | +€89,276 | +93.0% |
| Plant, machinery and equipment | 23 | €93,922 | €162,039 | +€68,117 | +72.5% |
| Furniture and vehicles | 24 | €2,094 | €23,253 | +€21,159 | +1010.4% |
| Current assets | 29/58 | €223,653 | €423,880 | +€200,227 | +89.5% |
| Amounts receivable after more than one year | 29 | €15,000 | €20,987 | +€5,987 | +39.9% |
| Trade receivables | 290 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | - | €5,987 | +€5,987 | |
| Stocks and contracts in progress | 3 | €9,402 | €30,360 | +€20,959 | +222.9% |
| Stocks | 30/36 | €9,402 | €30,360 | +€20,959 | +222.9% |
| Amounts receivable within one year | 40/41 | €26,136 | €26,612 | +€476 | +1.8% |
| Trade receivables | 40 | €26,136 | €10,612 | -€15,524 | -59.4% |
| Other amounts receivable | 41 | - | €16,000 | +€16,000 | |
| Cash at bank and in hand | 54/58 | €173,115 | €345,921 | +€172,806 | +99.8% |
| Total equity and liabilities | 10/49 | €321,918 | €609,172 | +€287,253 | +89.2% |
| Equity | 10/15 | €262,901 | €386,536 | +€123,635 | +47.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,360 | €6,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,941 | €361,576 | +€123,635 | +52.0% |
| Provisions and deferred taxes | 16 | €1,500 | - | -€1,500 | |
| Provisions for liabilities and charges | 160/5 | €1,500 | - | -€1,500 | |
| Environmental obligations | 163 | €1,500 | - | -€1,500 | |
| Amounts payable | 17/49 | €57,518 | €222,636 | +€165,118 | +287.1% |
| Amounts payable after more than one year | 17 | - | €129,307 | +€129,307 | |
| Financial debts | 170/4 | - | €129,307 | +€129,307 | |
| Amounts payable within one year | 42/48 | €57,518 | €93,328 | +€35,811 | +62.3% |
| Current portion of amounts payable after more than one year | 42 | - | €19,244 | +€19,244 | |
| Trade debts | 44 | €23,225 | €29,617 | +€6,393 | +27.5% |
| Suppliers | 440/4 | €23,225 | €29,617 | +€6,393 | +27.5% |
| Taxes, remuneration and social security | 45 | €34,293 | €44,443 | +€10,150 | +29.6% |
| Taxes | 450/3 | €33,114 | €28,370 | -€4,744 | -14.3% |
| Remuneration and social security | 454/9 | €1,179 | €16,073 | +€14,894 | +1263.4% |
| Other amounts payable | 47/48 | - | €24 | +€24 | |
| Goods, raw materials, services and sundry goods | 60/61 | €628,821 | €989,727 | +€360,906 | +57.4% |
| Remuneration, social security and pensions | 62 | €345,224 | €606,405 | +€261,181 | +75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,404 | €59,566 | +€29,163 | +95.9% |
| Other operating charges | 640/8 | €4,561 | €6,495 | +€1,935 | +42.4% |
| Gross operating margin | 9900 | €541,486 | €874,104 | +€332,619 | +61.4% |
| Operating profit (loss) | 9901 | €161,297 | €201,638 | +€40,341 | +25.0% |
| Financial income | 75/76B | €454 | €4,082 | +€3,629 | +799.6% |
| Recurring financial income | 75 | €454 | €4,082 | +€3,629 | +799.6% |
| Financial charges | 65/66B | €1,880 | €8,556 | +€6,676 | +355.1% |
| Recurring financial charges | 65 | €1,880 | €8,556 | +€6,676 | +355.1% |
| Profit (loss) for the period before taxes | 9903 | €159,871 | €197,164 | +€37,294 | +23.3% |
| Income taxes | 67/77 | €43,854 | €50,000 | +€6,146 | +14.0% |
| Profit (loss) for the period | 9904 | €116,017 | €147,164 | +€31,147 | +26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €116,017 | €147,164 | +€31,147 | +26.8% |
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.