BGQ: 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.
BGQ
Largest movements
- Current investments +€29,518
new in 2025: €29,518
- Receivables within one year +€12,345
up €12,345 (+88.9%), from €13,891 to €26,236
of which Trade receivables: +€7,753
- Cash +€5,471
up €5,471 (+12.1%), from €45,397 to €50,868
mainly Net result for the year (+€48,549) and Trade debts (+€2,827)
- Tangible fixed assets +€2,253
up €2,253 (+116%), from €1,934 to €4,187
of which Plant, machinery and equipment: +€2,736
- Reserves +€48,549
up €48,549 (+127%), from €38,328 to €86,877
- Trade debts +€2,827
up €2,827 (+126%), from €2,244 to €5,071
- Other debts -€1,804
no longer reported in 2025 (was €1,804)
- Gross operating margin +€11,243
up €11,243 (+22.1%), from €50,817 to €62,060
- Taxes +€2,760
up €2,760 (+26.6%), from €10,384 to €13,144
- Financial charges -€868
down €868 (-85.3%), from €1,018 to €150
- Financial income +€796
up €796 (+6,894%), from €12 to €807
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 | €61,221 | €110,809 | +€49,588 | +81.0% |
| Fixed assets | 21/28 | €1,934 | €4,187 | +€2,253 | +116% |
| Tangible fixed assets | 22/27 | €1,934 | €4,187 | +€2,253 | +116% |
| Plant, machinery and equipment | 23 | - | €2,736 | +€2,736 | |
| Furniture and vehicles | 24 | €1,934 | €1,450 | -€483 | -25.0% |
| Current assets | 29/58 | €59,288 | €106,622 | +€47,335 | +79.8% |
| Amounts receivable within one year | 40/41 | €13,891 | €26,236 | +€12,345 | +88.9% |
| Trade receivables | 40 | €13,891 | €21,644 | +€7,753 | +55.8% |
| Other amounts receivable | 41 | - | €4,592 | +€4,592 | |
| Current investments | 50/53 | - | €29,518 | +€29,518 | |
| Cash at bank and in hand | 54/58 | €45,397 | €50,868 | +€5,471 | +12.1% |
| Total equity and liabilities | 10/49 | €61,221 | €110,809 | +€49,588 | +81.0% |
| Equity | 10/15 | €40,328 | €88,877 | +€48,549 | +120% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €38,328 | €86,877 | +€48,549 | +127% |
| Distributable reserves | 133 | €38,328 | €86,877 | +€48,549 | +127% |
| Amounts payable | 17/49 | €20,893 | €21,932 | +€1,039 | +5.0% |
| Amounts payable within one year | 42/48 | €20,893 | €21,932 | +€1,039 | +5.0% |
| Trade debts | 44 | €2,244 | €5,071 | +€2,827 | +126% |
| Suppliers | 440/4 | €2,244 | €5,071 | +€2,827 | +126% |
| Taxes, remuneration and social security | 45 | €16,846 | €16,861 | +€15 | +0.1% |
| Taxes | 450/3 | €16,846 | €16,861 | +€15 | +0.1% |
| Other amounts payable | 47/48 | €1,804 | - | -€1,804 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €483 | €628 | +€144 | +29.8% |
| Other operating charges | 640/8 | €615 | €397 | -€218 | -35.4% |
| Gross operating margin | 9900 | €50,817 | €62,060 | +€11,243 | +22.1% |
| Operating profit (loss) | 9901 | €49,719 | €61,035 | +€11,316 | +22.8% |
| Financial income | 75/76B | €12 | €807 | +€796 | +6,894% |
| Recurring financial income | 75 | €12 | €807 | +€796 | +6,894% |
| Financial charges | 65/66B | €1,018 | €150 | -€868 | -85.3% |
| Recurring financial charges | 65 | €1,018 | €150 | -€868 | -85.3% |
| Profit (loss) for the period before taxes | 9903 | €48,712 | €61,692 | +€12,980 | +26.6% |
| Income taxes | 67/77 | €10,384 | €13,144 | +€2,760 | +26.6% |
| Profit (loss) for the period | 9904 | €38,328 | €48,549 | +€10,221 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,328 | €48,549 | +€10,221 | +26.7% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.