BGR: 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.
What changed
BGR
NACE 69.201, Certified accountants and tax accountants
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€29,588
2024 · €242,304-€212,716
Equity
€805,221
2024 · €795,633+€9,588
Cash
€14,663
2024 · €10,322+€4,341
Balance sheet total
€951,799
2024 · €940,810+€10,989
Largest movements
Assets
- Receivables after one year -€30,000
down €30,000 (-11.0%), from €272,500 to €242,500
- Current investments +€29,298
new in 2025: €29,298
Equity and liabilities
- Reserves +€9,588
up €9,588 (+1.3%), from €718,633 to €728,221
Income statement
- Financial income -€197,495
down €197,495 (-86.7%), from €227,696 to €30,202
of which Non-recurring financial income: -€183,194
- Gross operating margin -€16,329
down €16,329 (-47.8%), from €34,184 to €17,854
- Taxes -€4,437
down €4,437 (-72.3%), from €6,139 to €1,702
- Other operating charges +€1,973
new in 2025: €1,973
- Financial charges +€901
up €901 (+11.0%), from €8,158 to €9,059
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.
Result 2024
€242,304
Gross operating margin
-€16,329
Depreciation
-€456
Other operating charges
-€1,973
Financial income
-€197,495
Financial charges
-€901
Taxes
+€4,437
Result 2025
€29,588
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.
From operations
+€74,697
Investment
-€41,056
Financing
-€29,300
Cash 2024
€10,322
From operations (derived)
+€74,697
Net result for the year
+€29,588
Depreciation
+€5,734
Receivables after one year
+€30,000
Receivables within one year
-€1,322
Smaller working-capital items
-€3
Trade debts
+€2,753
Tax, wage and social debts
+€4,838
Other debts
+€3,110
Investment (derived)
-€41,056
Investment in fixed assets (net)
-€11,759
Current investments
-€29,298
Financing
-€29,300
Debts after one year
-€6,291
Current portion of long-term debt
-€299
Short-term financial debts
-€2,711
Contributions, distributions and other
-€20,000
Cash 2025
€14,663
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €940,810 | €951,799 | +€10,989 | +1.2% |
| Fixed assets | 21/28 | €600,309 | €606,334 | +€6,024 | +1.0% |
| Tangible fixed assets | 22/27 | €150,308 | €156,333 | +€6,024 | +4.0% |
| Land and buildings | 22 | €150,308 | €156,333 | +€6,024 | +4.0% |
| Financial fixed assets | 28 | €450,001 | €450,001 | = | 0.0% |
| Current assets | 29/58 | €340,501 | €345,466 | +€4,965 | +1.5% |
| Amounts receivable after more than one year | 29 | €272,500 | €242,500 | -€30,000 | -11.0% |
| Other amounts receivable | 291 | €272,500 | €242,500 | -€30,000 | -11.0% |
| Amounts receivable within one year | 40/41 | €57,678 | €59,000 | +€1,322 | +2.3% |
| Trade receivables | 40 | - | €1,500 | +€1,500 | |
| Other amounts receivable | 41 | €57,678 | €57,500 | -€178 | -0.3% |
| Current investments | 50/53 | - | €29,298 | +€29,298 | |
| Cash at bank and in hand | 54/58 | €10,322 | €14,663 | +€4,341 | +42.1% |
| Deferred charges and accrued income | 490/1 | - | €5 | +€5 | |
| Total equity and liabilities | 10/49 | €940,810 | €951,799 | +€10,989 | +1.2% |
| Equity | 10/15 | €795,633 | €805,221 | +€9,588 | +1.2% |
| Contributions | 10/11 | €77,000 | €77,000 | = | 0.0% |
| Reserves | 13 | €718,633 | €728,221 | +€9,588 | +1.3% |
| Distributable reserves | 133 | €718,633 | €728,221 | +€9,588 | +1.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €145,177 | €146,578 | +€1,401 | +1.0% |
| Amounts payable after more than one year | 17 | €109,453 | €103,162 | -€6,291 | -5.7% |
| Financial debts | 170/4 | €109,453 | €103,162 | -€6,291 | -5.7% |
| Amounts payable within one year | 42/48 | €35,724 | €43,414 | +€7,690 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €7,151 | €6,851 | -€299 | -4.2% |
| Financial debts | 43 | €2,711 | €0 | -€2,711 | -100.0% |
| Credit institutions | 430/8 | €2,711 | €0 | -€2,711 | -100.0% |
| Trade debts | 44 | €5,666 | €8,418 | +€2,753 | +48.6% |
| Suppliers | 440/4 | €5,666 | €8,418 | +€2,753 | +48.6% |
| Taxes, remuneration and social security | 45 | €11,638 | €16,476 | +€4,838 | +41.6% |
| Taxes | 450/3 | €11,638 | €16,476 | +€4,838 | +41.6% |
| Other amounts payable | 47/48 | €8,559 | €11,669 | +€3,110 | +36.3% |
| Accrued charges and deferred income | 492/3 | - | €1 | +€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,278 | €5,734 | +€456 | +8.6% |
| Other operating charges | 640/8 | - | €1,973 | +€1,973 | |
| Gross operating margin | 9900 | €34,184 | €17,854 | -€16,329 | -47.8% |
| Operating profit (loss) | 9901 | €28,905 | €10,147 | -€18,758 | -64.9% |
| Financial income | 75/76B | €227,696 | €30,202 | -€197,495 | -86.7% |
| Recurring financial income | 75 | €44,502 | €30,202 | -€14,301 | -32.1% |
| Non-recurring financial income | 76B | €183,194 | - | -€183,194 | |
| Financial charges | 65/66B | €8,158 | €9,059 | +€901 | +11.0% |
| Recurring financial charges | 65 | €8,158 | €9,059 | +€901 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €248,443 | €31,290 | -€217,153 | -87.4% |
| Income taxes | 67/77 | €6,139 | €1,702 | -€4,437 | -72.3% |
| Profit (loss) for the period | 9904 | €242,304 | €29,588 | -€212,716 | -87.8% |
| Profit (loss) for the period to be appropriated | 9905 | €242,304 | €29,588 | -€212,716 | -87.8% |
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 6 October 2026 via checked.be.