BGT concept: 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.
BGT concept
Largest movements
- Receivables within one year +€36,066
up €36,066 (+85.2%), from €42,337 to €78,403
of which Trade receivables: +€43,514
- Cash -€25,932
down €25,932 (-74.5%), from €34,790 to €8,858
mainly Receivables within one year (-€36,066) and Other debts (-€11,836)
- Tangible fixed assets -€15,667
down €15,667 (-20.6%), from €75,923 to €60,256
of which Furniture and vehicles: -€15,474
- Other debts -€11,836
no longer reported in 2025 (was €11,836)
- Reserves +€9,996
up €9,996 (+7.9%), from €127,146 to €137,142
- Debts after one year -€3,980
down €3,980 (-31.1%), from €12,814 to €8,834
- Gross operating margin +€11,721
up €11,721 (+53.0%), from €22,102 to €33,824
- Taxes +€2,413
up €2,413 (+810.5%), from €298 to €2,710
- Depreciation +€934
up €934 (+4.9%), from €19,080 to €20,014
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 | €161,649 | €156,397 | -€5,252 | -3.2% |
| Fixed assets | 21/28 | €75,923 | €60,256 | -€15,667 | -20.6% |
| Tangible fixed assets | 22/27 | €75,923 | €60,256 | -€15,667 | -20.6% |
| Plant, machinery and equipment | 23 | €9,326 | €9,133 | -€193 | -2.1% |
| Furniture and vehicles | 24 | €66,597 | €51,123 | -€15,474 | -23.2% |
| Current assets | 29/58 | €85,726 | €96,141 | +€10,415 | +12.1% |
| Stocks and contracts in progress | 3 | €7,631 | €7,882 | +€251 | +3.3% |
| Stocks | 30/36 | €7,631 | €7,882 | +€251 | +3.3% |
| Amounts receivable within one year | 40/41 | €42,337 | €78,403 | +€36,066 | +85.2% |
| Trade receivables | 40 | €29,100 | €72,613 | +€43,514 | +149.5% |
| Other amounts receivable | 41 | €13,238 | €5,789 | -€7,448 | -56.3% |
| Cash at bank and in hand | 54/58 | €34,790 | €8,858 | -€25,932 | -74.5% |
| Deferred charges and accrued income | 490/1 | €967 | €998 | +€31 | +3.2% |
| Total equity and liabilities | 10/49 | €161,649 | €156,397 | -€5,252 | -3.2% |
| Equity | 10/15 | €132,146 | €142,142 | +€9,996 | +7.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €127,146 | €137,142 | +€9,996 | +7.9% |
| Distributable reserves | 133 | €127,146 | €137,142 | +€9,996 | +7.9% |
| Amounts payable | 17/49 | €29,503 | €14,255 | -€15,248 | -51.7% |
| Amounts payable after more than one year | 17 | €12,814 | €8,834 | -€3,980 | -31.1% |
| Financial debts | 170/4 | €12,814 | €8,834 | -€3,980 | -31.1% |
| Amounts payable within one year | 42/48 | €16,689 | €5,421 | -€11,268 | -67.5% |
| Current portion of amounts payable after more than one year | 42 | €3,820 | €3,980 | +€160 | +4.2% |
| Trade debts | 44 | €1,034 | €1,244 | +€210 | +20.3% |
| Suppliers | 440/4 | €1,034 | €1,244 | +€210 | +20.3% |
| Taxes, remuneration and social security | 45 | - | €198 | +€198 | |
| Remuneration and social security | 454/9 | - | €198 | +€198 | |
| Other amounts payable | 47/48 | €11,836 | - | -€11,836 | |
| Non-recurring operating income | 76A | €11,136 | €19 | -€11,118 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,080 | €20,014 | +€934 | +4.9% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €22,102 | €33,824 | +€11,721 | +53.0% |
| Operating profit (loss) | 9901 | €2,517 | €13,290 | +€10,773 | +428.0% |
| Financial income | 75/76B | €33 | €142 | +€109 | +333.0% |
| Recurring financial income | 75 | €33 | €142 | +€109 | +333.0% |
| Financial charges | 65/66B | €1,021 | €726 | -€295 | -28.9% |
| Recurring financial charges | 65 | €1,021 | €726 | -€295 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €1,529 | €12,706 | +€11,177 | +731.2% |
| Income taxes | 67/77 | €298 | €2,710 | +€2,413 | +810.5% |
| Profit (loss) for the period | 9904 | €1,231 | €9,996 | +€8,765 | +712.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,231 | €9,996 | +€8,765 | +712.0% |
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 10 October 2026 via checked.be.