BGX: 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.
BGX
Largest movements
- Cash +€176,227
up €176,227 (+950.1%), from €18,549 to €194,776
mainly Net result for the year (+€164,009) and Depreciation (+€68,694)
- Tangible fixed assets -€63,385
down €63,385 (-24.3%), from €260,395 to €197,010
of which Furniture and vehicles: -€54,993
- Receivables within one year +€45,087
up €45,087 (+129.7%), from €34,768 to €79,855
of which Trade receivables: +€53,233
- Reserves +€164,009
up €164,009 (+89.1%), from €183,991 to €348,000
of which Distributable reserves: +€164,009
- Accrued charges and deferred income +€21,433
new in 2025: €21,433
- Current portion of long-term debt -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Other debts -€13,392
down €13,392 (-62.8%), from €21,328 to €7,935
- Trade debts +€7,151
up €7,151 (+13.3%), from €53,938 to €61,089
- Gross operating margin +€147,655
up €147,655 (+89.9%), from €164,192 to €311,847
- Taxes +€33,748
up €33,748 (+80.4%), from €41,980 to €75,728
- Depreciation +€32,784
up €32,784 (+91.3%), from €35,911 to €68,694
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 | €314,993 | €474,475 | +€159,481 | +50.6% |
| Fixed assets | 21/28 | €260,395 | €197,010 | -€63,385 | -24.3% |
| Tangible fixed assets | 22/27 | €260,395 | €197,010 | -€63,385 | -24.3% |
| Plant, machinery and equipment | 23 | €28,736 | €25,458 | -€3,279 | -11.4% |
| Furniture and vehicles | 24 | €184,014 | €129,020 | -€54,993 | -29.9% |
| Other tangible fixed assets | 26 | €47,644 | €42,532 | -€5,113 | -10.7% |
| Current assets | 29/58 | €54,599 | €277,465 | +€222,866 | +408.2% |
| Amounts receivable within one year | 40/41 | €34,768 | €79,855 | +€45,087 | +129.7% |
| Trade receivables | 40 | €22,500 | €75,733 | +€53,233 | +236.6% |
| Other amounts receivable | 41 | €12,268 | €4,122 | -€8,146 | -66.4% |
| Cash at bank and in hand | 54/58 | €18,549 | €194,776 | +€176,227 | +950.1% |
| Deferred charges and accrued income | 490/1 | €1,282 | €2,833 | +€1,551 | +121.0% |
| Total equity and liabilities | 10/49 | €314,993 | €474,475 | +€159,481 | +50.6% |
| Equity | 10/15 | €202,591 | €366,600 | +€164,009 | +81.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €183,991 | €348,000 | +€164,009 | +89.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,872 | €17,872 | = | 0.0% |
| Distributable reserves | 133 | €164,260 | €328,269 | +€164,009 | +99.8% |
| Amounts payable | 17/49 | €112,402 | €107,874 | -€4,528 | -4.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €112,402 | €86,442 | -€25,960 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €0 | -€20,000 | -100.0% |
| Trade debts | 44 | €53,938 | €61,089 | +€7,151 | +13.3% |
| Suppliers | 440/4 | €53,938 | €61,089 | +€7,151 | +13.3% |
| Taxes, remuneration and social security | 45 | €17,136 | €17,417 | +€281 | +1.6% |
| Taxes | 450/3 | €17,136 | €17,417 | +€281 | +1.6% |
| Other amounts payable | 47/48 | €21,328 | €7,935 | -€13,392 | -62.8% |
| Accrued charges and deferred income | 492/3 | - | €21,433 | +€21,433 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,911 | €68,694 | +€32,784 | +91.3% |
| Other operating charges | 640/8 | €1,735 | €651 | -€1,085 | -62.5% |
| Non-recurring operating charges | 66A | - | €284 | +€284 | |
| Gross operating margin | 9900 | €164,192 | €311,847 | +€147,655 | +89.9% |
| Operating profit (loss) | 9901 | €126,546 | €242,218 | +€115,672 | +91.4% |
| Financial income | 75/76B | €78 | €0 | -€78 | -100.0% |
| Recurring financial income | 75 | €78 | €0 | -€78 | -100.0% |
| Financial charges | 65/66B | €1,474 | €2,481 | +€1,007 | +68.3% |
| Recurring financial charges | 65 | €1,474 | €2,481 | +€1,007 | +68.3% |
| Profit (loss) for the period before taxes | 9903 | €125,149 | €239,737 | +€114,588 | +91.6% |
| Income taxes | 67/77 | €41,980 | €75,728 | +€33,748 | +80.4% |
| Profit (loss) for the period | 9904 | €83,169 | €164,009 | +€80,840 | +97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €83,169 | €164,009 | +€80,840 | +97.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.