BGS CONCEPT: 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.
BGS CONCEPT
Largest movements
- Stocks and contracts +€79,825
up €79,825 (+189.3%), from €42,175 to €122,000
- Cash +€49,645
up €49,645 (+163.8%), from €30,309 to €79,954
mainly Debts after one year (+€66,426) and Trade debts (+€40,570)
- Receivables within one year -€16,678
no longer reported in 2025 (was €16,678)
- Intangible fixed assets -€4,840
down €4,840 (-14.6%), from €33,132 to €28,292
- Debts after one year +€66,426
up €66,426 (+287.0%), from €23,146 to €89,572
- Trade debts +€40,570
up €40,570 (+1355.9%), from €2,992 to €43,562
- Accrued charges and deferred income -€21,452
down €21,452 (-74.5%), from €28,792 to €7,340
- Current portion of long-term debt +€19,839
up €19,839 (+300.7%), from €6,597 to €26,436
- Other debts +€3,702
up €3,702 (+6.6%), from €56,186 to €59,888
- Gross operating margin +€51,591
up €51,591, from -€8,836 to €42,755
- Staff costs +€26,853
up €26,853 (+410.5%), from €6,541 to €33,394
- Financial charges +€4,225
up €4,225 (+180.0%), from €2,347 to €6,572
- Depreciation +€1,815
up €1,815 (+91.6%), from €1,981 to €3,796
- Financial income +€1,716
up €1,716 (+42900.0%), from €4 to €1,720
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 | €123,737 | €232,948 | +€109,211 | +88.3% |
| Fixed assets | 21/28 | €34,575 | €30,994 | -€3,581 | -10.4% |
| Intangible fixed assets | 21 | €33,132 | €28,292 | -€4,840 | -14.6% |
| Tangible fixed assets | 22/27 | €1,238 | €2,497 | +€1,259 | +101.7% |
| Other tangible fixed assets | 26 | €1,238 | €2,497 | +€1,259 | +101.7% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €89,162 | €201,954 | +€112,792 | +126.5% |
| Stocks and contracts in progress | 3 | €42,175 | €122,000 | +€79,825 | +189.3% |
| Stocks | 30/36 | €42,175 | €122,000 | +€79,825 | +189.3% |
| Amounts receivable within one year | 40/41 | €16,678 | - | -€16,678 | |
| Trade receivables | 40 | €16,678 | - | -€16,678 | |
| Cash at bank and in hand | 54/58 | €30,309 | €79,954 | +€49,645 | +163.8% |
| Total equity and liabilities | 10/49 | €123,737 | €232,948 | +€109,211 | +88.3% |
| Equity | 10/15 | -€18,962 | -€20,123 | -€1,161 | -6.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,962 | -€22,123 | -€1,161 | -5.5% |
| Amounts payable | 17/49 | €142,699 | €253,071 | +€110,372 | +77.3% |
| Amounts payable after more than one year | 17 | €23,146 | €89,572 | +€66,426 | +287.0% |
| Financial debts | 170/4 | €23,146 | €89,572 | +€66,426 | +287.0% |
| Amounts payable within one year | 42/48 | €90,761 | €156,159 | +€65,398 | +72.1% |
| Current portion of amounts payable after more than one year | 42 | €6,597 | €26,436 | +€19,839 | +300.7% |
| Trade debts | 44 | €2,992 | €43,562 | +€40,570 | +1355.9% |
| Suppliers | 440/4 | €2,992 | €43,562 | +€40,570 | +1355.9% |
| Taxes, remuneration and social security | 45 | €24,986 | €26,273 | +€1,287 | +5.2% |
| Taxes | 450/3 | €17,037 | €23,057 | +€6,020 | +35.3% |
| Remuneration and social security | 454/9 | €7,949 | €3,216 | -€4,733 | -59.5% |
| Other amounts payable | 47/48 | €56,186 | €59,888 | +€3,702 | +6.6% |
| Accrued charges and deferred income | 492/3 | €28,792 | €7,340 | -€21,452 | -74.5% |
| Remuneration, social security and pensions | 62 | €6,541 | €33,394 | +€26,853 | +410.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,981 | €3,796 | +€1,815 | +91.6% |
| Other operating charges | 640/8 | - | €533 | +€533 | |
| Non-recurring operating charges | 66A | €1,261 | - | -€1,261 | |
| Gross operating margin | 9900 | -€8,836 | €42,755 | +€51,591 | |
| Operating profit (loss) | 9901 | -€18,619 | €5,032 | +€23,651 | |
| Financial income | 75/76B | €4 | €1,720 | +€1,716 | +42900.0% |
| Recurring financial income | 75 | €4 | €1,720 | +€1,716 | +42900.0% |
| Financial charges | 65/66B | €2,347 | €6,572 | +€4,225 | +180.0% |
| Recurring financial charges | 65 | €2,347 | €6,572 | +€4,225 | +180.0% |
| Profit (loss) for the period before taxes | 9903 | -€20,962 | €180 | +€21,142 | |
| Profit (loss) for the period | 9904 | -€20,962 | €180 | +€21,142 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,962 | €180 | +€21,142 |
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 3 October 2026 via checked.be.