BGS: 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.
BGS
Largest movements
- Tangible fixed assets -€20,348
down €20,348 (-32.9%), from €61,824 to €41,476
of which Leasing and similar rights: -€12,000
- Receivables after one year -€9,756
down €9,756 (-27.5%), from €35,459 to €25,703
- Deferred charges and accrued income -€1,726
down €1,726 (-46.9%), from €3,677 to €1,951
- Cash -€1,408
down €1,408 (-91.4%), from €1,540 to €133
mainly Current portion of long-term debt (-€11,529) and Other debts (-€8,465)
- Receivables within one year -€1,270
down €1,270 (-7.5%), from €17,031 to €15,761
of which Trade receivables: -€1,270
- Current portion of long-term debt -€11,529
down €11,529 (-53.3%), from €21,626 to €10,097
- Other debts -€8,465
down €8,465 (-47.0%), from €18,000 to €9,534
- Profit (loss) carried forward -€7,885
down €7,885, from €0 to -€7,885
- Trade debts -€5,791
down €5,791 (-59.3%), from €9,772 to €3,981
- Gross operating margin -€10,500
down €10,500 (-21.2%), from €49,423 to €38,923
- Taxes -€4,059
down €4,059 (-92.5%), from €4,388 to €329
- Staff costs +€3,834
up €3,834 (+29.8%), from €12,861 to €16,695
- Financial charges +€2,063
up €2,063 (+28.4%), from €7,268 to €9,331
- Financial income -€1,400
down €1,400 (-68.6%), from €2,040 to €640
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 | €122,311 | €87,803 | -€34,507 | -28.2% |
| Fixed assets | 21/28 | €64,604 | €44,256 | -€20,348 | -31.5% |
| Tangible fixed assets | 22/27 | €61,824 | €41,476 | -€20,348 | -32.9% |
| Plant, machinery and equipment | 23 | €5,657 | €2,776 | -€2,880 | -50.9% |
| Furniture and vehicles | 24 | €12,615 | €7,148 | -€5,467 | -43.3% |
| Leasing and similar rights | 25 | €43,552 | €31,552 | -€12,000 | -27.6% |
| Financial fixed assets | 28 | €2,780 | €2,780 | = | 0.0% |
| Current assets | 29/58 | €57,707 | €43,547 | -€14,160 | -24.5% |
| Amounts receivable after more than one year | 29 | €35,459 | €25,703 | -€9,756 | -27.5% |
| Other amounts receivable | 291 | €35,459 | €25,703 | -€9,756 | -27.5% |
| Amounts receivable within one year | 40/41 | €17,031 | €15,761 | -€1,270 | -7.5% |
| Trade receivables | 40 | €12,450 | €11,180 | -€1,270 | -10.2% |
| Other amounts receivable | 41 | €4,581 | €4,581 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,540 | €133 | -€1,408 | -91.4% |
| Deferred charges and accrued income | 490/1 | €3,677 | €1,951 | -€1,726 | -46.9% |
| Total equity and liabilities | 10/49 | €122,311 | €87,803 | -€34,507 | -28.2% |
| Equity | 10/15 | €46,041 | €38,156 | -€7,885 | -17.1% |
| Contributions | 10/11 | €1,100 | €1,100 | = | 0.0% |
| Reserves | 13 | €44,941 | €44,941 | = | 0.0% |
| Distributable reserves | 133 | €44,941 | €44,941 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€7,885 | -€7,885 | |
| Amounts payable | 17/49 | €76,270 | €49,648 | -€26,623 | -34.9% |
| Amounts payable within one year | 42/48 | €76,270 | €49,648 | -€26,623 | -34.9% |
| Current portion of amounts payable after more than one year | 42 | €21,626 | €10,097 | -€11,529 | -53.3% |
| Financial debts | 43 | €14,940 | €14,732 | -€208 | -1.4% |
| Credit institutions | 430/8 | €14,940 | €14,732 | -€208 | -1.4% |
| Trade debts | 44 | €9,772 | €3,981 | -€5,791 | -59.3% |
| Suppliers | 440/4 | €9,772 | €3,981 | -€5,791 | -59.3% |
| Taxes, remuneration and social security | 45 | €11,932 | €11,303 | -€628 | -5.3% |
| Taxes | 450/3 | €10,270 | €8,613 | -€1,657 | -16.1% |
| Remuneration and social security | 454/9 | €1,662 | €2,691 | +€1,029 | +61.9% |
| Other amounts payable | 47/48 | €18,000 | €9,534 | -€8,465 | -47.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €12,861 | €16,695 | +€3,834 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,505 | €20,348 | -€1,157 | -5.4% |
| Other operating charges | 640/8 | €735 | €745 | +€10 | +1.3% |
| Gross operating margin | 9900 | €49,423 | €38,923 | -€10,500 | -21.2% |
| Operating profit (loss) | 9901 | €14,322 | €1,135 | -€13,186 | -92.1% |
| Financial income | 75/76B | €2,040 | €640 | -€1,400 | -68.6% |
| Recurring financial income | 75 | €2,040 | €640 | -€1,400 | -68.6% |
| Financial charges | 65/66B | €7,268 | €9,331 | +€2,063 | +28.4% |
| Recurring financial charges | 65 | €7,268 | €9,331 | +€2,063 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €9,093 | -€7,556 | -€16,649 | |
| Income taxes | 67/77 | €4,388 | €329 | -€4,059 | -92.5% |
| Profit (loss) for the period | 9904 | €4,705 | -€7,885 | -€12,590 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,705 | -€7,885 | -€12,590 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.