BILAGRI: 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.
BILAGRI
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+472.5%), from €312,854 to €1.8m
of which Land and buildings: +€1.5m
- Stocks and contracts -€244,880
down €244,880 (-47.5%), from €515,081 to €270,201
- Receivables within one year +€212,553
up €212,553 (+8.8%), from €2.4m to €2.6m
of which Trade receivables: +€187,024
- Cash +€118,148
up €118,148 (+71.3%), from €165,775 to €283,923
mainly Debts after one year (+€1.2m) and Trade debts (+€400,981)
- Debts after one year +€1.2m
up €1.2m (+646.1%), from €181,778 to €1.4m
- Trade debts +€400,981
up €400,981 (+30.5%), from €1.3m to €1.7m
- Advances received -€292,494
down €292,494 (-43.2%), from €677,302 to €384,808
- Other debts +€163,598
up €163,598 (+125.1%), from €130,825 to €294,423
- Accrued charges and deferred income +€51,606
up €51,606 (+5415.1%), from €953 to €52,559
- Gross operating margin +€234,775
up €234,775 (+43.7%), from €536,920 to €771,695
- Staff costs +€160,431
up €160,431 (+58.5%), from €274,305 to €434,736
- Taxes -€32,964
down €32,964 (-88.5%), from €37,245 to €4,281
- Depreciation +€32,079
up €32,079 (+40.6%), from €79,060 to €111,139
- Financial charges +€26,906
up €26,906 (+104.5%), from €25,752 to €52,658
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 | €3,458,590 | €5,041,743 | +€1.6m | +45.8% |
| Fixed assets | 21/28 | €349,935 | €1,842,472 | +€1.5m | +426.5% |
| Intangible fixed assets | 21 | €13,253 | €19,972 | +€6,719 | +50.7% |
| Tangible fixed assets | 22/27 | €312,854 | €1,791,190 | +€1.5m | +472.5% |
| Land and buildings | 22 | €67,877 | €1,523,768 | +€1.5m | +2144.9% |
| Plant, machinery and equipment | 23 | €61,001 | €52,111 | -€8,890 | -14.6% |
| Furniture and vehicles | 24 | €183,976 | €215,311 | +€31,335 | +17.0% |
| Financial fixed assets | 28 | €23,828 | €31,310 | +€7,482 | +31.4% |
| Current assets | 29/58 | €3,108,655 | €3,199,271 | +€90,616 | +2.9% |
| Stocks and contracts in progress | 3 | €515,081 | €270,201 | -€244,880 | -47.5% |
| Stocks | 30/36 | €515,081 | €270,201 | -€244,880 | -47.5% |
| Amounts receivable within one year | 40/41 | €2,423,897 | €2,636,450 | +€212,553 | +8.8% |
| Trade receivables | 40 | €2,404,648 | €2,591,672 | +€187,024 | +7.8% |
| Other amounts receivable | 41 | €19,249 | €44,778 | +€25,529 | +132.6% |
| Cash at bank and in hand | 54/58 | €165,775 | €283,923 | +€118,148 | +71.3% |
| Deferred charges and accrued income | 490/1 | €3,902 | €8,697 | +€4,795 | +122.9% |
| Total equity and liabilities | 10/49 | €3,458,590 | €5,041,743 | +€1.6m | +45.8% |
| Equity | 10/15 | €623,012 | €714,217 | +€91,205 | +14.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €93,306 | €133,306 | +€40,000 | +42.9% |
| Distributable reserves | 133 | €93,306 | €133,306 | +€40,000 | +42.9% |
| Profit (loss) carried forward | 14 | €329,706 | €380,911 | +€51,205 | +15.5% |
| Amounts payable | 17/49 | €2,835,578 | €4,327,526 | +€1.5m | +52.6% |
| Amounts payable after more than one year | 17 | €181,778 | €1,356,215 | +€1.2m | +646.1% |
| Financial debts | 170/4 | €181,778 | €1,356,215 | +€1.2m | +646.1% |
| Amounts payable within one year | 42/48 | €2,652,847 | €2,918,752 | +€265,905 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €78,610 | €69,614 | -€8,996 | -11.4% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €1,315,337 | €1,716,318 | +€400,981 | +30.5% |
| Suppliers | 440/4 | €1,315,337 | €1,716,318 | +€400,981 | +30.5% |
| Advances received on contracts in progress | 46 | €677,302 | €384,808 | -€292,494 | -43.2% |
| Taxes, remuneration and social security | 45 | €50,773 | €53,589 | +€2,816 | +5.5% |
| Taxes | 450/3 | €20,571 | €19,621 | -€950 | -4.6% |
| Remuneration and social security | 454/9 | €30,202 | €33,968 | +€3,766 | +12.5% |
| Other amounts payable | 47/48 | €130,825 | €294,423 | +€163,598 | +125.1% |
| Accrued charges and deferred income | 492/3 | €953 | €52,559 | +€51,606 | +5415.1% |
| Remuneration, social security and pensions | 62 | €274,305 | €434,736 | +€160,431 | +58.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,060 | €111,139 | +€32,079 | +40.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,310 | €27,651 | +€3,341 | +13.7% |
| Other operating charges | 640/8 | €13,313 | €12,485 | -€828 | -6.2% |
| Non-recurring operating charges | 66A | - | €37,596 | +€37,596 | |
| Gross operating margin | 9900 | €536,920 | €771,695 | +€234,775 | +43.7% |
| Operating profit (loss) | 9901 | €145,932 | €148,088 | +€2,156 | +1.5% |
| Financial income | 75/76B | €1,708 | €56 | -€1,652 | -96.7% |
| Recurring financial income | 75 | €108 | €56 | -€52 | -48.1% |
| Non-recurring financial income | 76B | €1,600 | - | -€1,600 | |
| Financial charges | 65/66B | €25,752 | €52,658 | +€26,906 | +104.5% |
| Recurring financial charges | 65 | €25,752 | €52,658 | +€26,906 | +104.5% |
| Profit (loss) for the period before taxes | 9903 | €121,888 | €95,486 | -€26,402 | -21.7% |
| Income taxes | 67/77 | €37,245 | €4,281 | -€32,964 | -88.5% |
| Profit (loss) for the period | 9904 | €84,643 | €91,205 | +€6,562 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €84,643 | €91,205 | +€6,562 | +7.8% |
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.