BIJORCA: 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.
BIJORCA
Largest movements
- Tangible fixed assets +€80,482
up €80,482 (+14.2%), from €568,583 to €649,066
of which Land and buildings: +€83,502
- Stocks and contracts +€50,123
up €50,123 (+18.3%), from €274,268 to €324,392
- Cash +€40,689
up €40,689 (+53.3%), from €76,346 to €117,036
mainly Other debts (+€90,681) and Short-term financial debts (+€59,984)
- Receivables within one year -€16,520
down €16,520 (-28.8%), from €57,400 to €40,881
of which Trade receivables: -€34,372
- Other debts +€90,681
up €90,681 (+874.6%), from €10,369 to €101,050
- Short-term financial debts +€59,984
up €59,984 (+358.0%), from €16,755 to €76,740
- Reserves -€29,060
down €29,060 (-16.4%), from €176,725 to €147,665
- Current portion of long-term debt +€28,434
new in 2025: €28,434
- Debts after one year +€26,156
up €26,156 (+4.7%), from €558,683 to €584,839
- Gross operating margin -€58,068
down €58,068 (-36.0%), from €161,092 to €103,024
- Financial charges +€16,707
up €16,707 (+184.5%), from €9,053 to €25,760
- Taxes -€9,125
no longer reported in 2025 (was €9,125)
- Other operating charges +€4,399
up €4,399 (+123.5%), from €3,562 to €7,962
- Staff costs -€2,985
down €2,985 (-3.8%), from €78,836 to €75,851
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 | €997,217 | €1,158,071 | +€160,854 | +16.1% |
| Fixed assets | 21/28 | €579,933 | €660,416 | +€80,482 | +13.9% |
| Tangible fixed assets | 22/27 | €568,583 | €649,066 | +€80,482 | +14.2% |
| Land and buildings | 22 | €530,056 | €613,558 | +€83,502 | +15.8% |
| Plant, machinery and equipment | 23 | €14,529 | €10,230 | -€4,299 | -29.6% |
| Furniture and vehicles | 24 | €23,999 | €25,278 | +€1,279 | +5.3% |
| Financial fixed assets | 28 | €11,350 | €11,350 | = | 0.0% |
| Current assets | 29/58 | €417,284 | €497,655 | +€80,371 | +19.3% |
| Amounts receivable after more than one year | 29 | - | €6,271 | +€6,271 | |
| Other amounts receivable | 291 | - | €6,271 | +€6,271 | |
| Stocks and contracts in progress | 3 | €274,268 | €324,392 | +€50,123 | +18.3% |
| Stocks | 30/36 | €274,268 | €324,392 | +€50,123 | +18.3% |
| Amounts receivable within one year | 40/41 | €57,400 | €40,881 | -€16,520 | -28.8% |
| Trade receivables | 40 | €46,490 | €12,118 | -€34,372 | -73.9% |
| Other amounts receivable | 41 | €10,910 | €28,762 | +€17,853 | +163.6% |
| Cash at bank and in hand | 54/58 | €76,346 | €117,036 | +€40,689 | +53.3% |
| Deferred charges and accrued income | 490/1 | €9,269 | €9,076 | -€193 | -2.1% |
| Total equity and liabilities | 10/49 | €997,217 | €1,158,071 | +€160,854 | +16.1% |
| Equity | 10/15 | €196,005 | €149,865 | -€46,139 | -23.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €176,725 | €147,665 | -€29,060 | -16.4% |
| Distributable reserves | 133 | €176,725 | €147,665 | -€29,060 | -16.4% |
| Profit (loss) carried forward | 14 | €680 | -€16,400 | -€17,079 | |
| Amounts payable | 17/49 | €801,212 | €1,008,205 | +€206,993 | +25.8% |
| Amounts payable after more than one year | 17 | €558,683 | €584,839 | +€26,156 | +4.7% |
| Financial debts | 170/4 | €558,683 | €584,839 | +€26,156 | +4.7% |
| Amounts payable within one year | 42/48 | €242,529 | €423,366 | +€180,837 | +74.6% |
| Current portion of amounts payable after more than one year | 42 | - | €28,434 | +€28,434 | |
| Financial debts | 43 | €16,755 | €76,740 | +€59,984 | +358.0% |
| Credit institutions | 430/8 | €16,755 | €76,740 | +€59,984 | +358.0% |
| Trade debts | 44 | €184,907 | €187,960 | +€3,054 | +1.7% |
| Suppliers | 440/4 | €184,907 | €187,960 | +€3,054 | +1.7% |
| Advances received on contracts in progress | 46 | - | €450 | +€450 | |
| Taxes, remuneration and social security | 45 | €30,498 | €28,733 | -€1,766 | -5.8% |
| Taxes | 450/3 | €25,294 | €22,018 | -€3,276 | -13.0% |
| Remuneration and social security | 454/9 | €5,204 | €6,715 | +€1,511 | +29.0% |
| Other amounts payable | 47/48 | €10,369 | €101,050 | +€90,681 | +874.6% |
| Remuneration, social security and pensions | 62 | €78,836 | €75,851 | -€2,985 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,101 | €40,050 | +€2,949 | +7.9% |
| Other operating charges | 640/8 | €3,562 | €7,962 | +€4,399 | +123.5% |
| Gross operating margin | 9900 | €161,092 | €103,024 | -€58,068 | -36.0% |
| Operating profit (loss) | 9901 | €41,593 | -€20,838 | -€62,432 | |
| Financial income | 75/76B | €125 | €654 | +€529 | +423.9% |
| Recurring financial income | 75 | €125 | €654 | +€529 | +423.9% |
| Financial charges | 65/66B | €9,053 | €25,760 | +€16,707 | +184.5% |
| Recurring financial charges | 65 | €9,053 | €25,760 | +€16,707 | +184.5% |
| Profit (loss) for the period before taxes | 9903 | €32,665 | -€45,944 | -€78,610 | |
| Income taxes | 67/77 | €9,125 | - | -€9,125 | |
| Profit (loss) for the period | 9904 | €23,540 | -€45,944 | -€69,484 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,540 | -€45,944 | -€69,484 |
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 5 October 2026 via checked.be.