BSG MANAGEMENT: 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.
BSG MANAGEMENT
Largest movements
- Receivables within one year +€219,580
up €219,580 (+210%), from €104,384 to €323,964
of which Other amounts receivable: +€206,480
- Cash -€210,426
down €210,426 (-97.9%), from €214,860 to €4,434
mainly Receivables within one year (-€219,580) and Contributions, distributions and other (-€27,000)
- Profit (loss) carried forward -€17,594
down €17,594 (-5.7%), from €308,537 to €290,943
- Other debts +€17,066
up €17,066 (+72.0%), from €23,702 to €40,768
- Tax, wage and social debts +€6,104
up €6,104 (+38.9%), from €15,696 to €21,800
- Trade debts +€4,079
up €4,079 (+652%), from €626 to €4,705
- Financial income -€250,805
down €250,805 (-100.0%), from €250,805 to €0
- Gross operating margin +€19,370
up €19,370 (+284%), from €6,823 to €26,194
- Other operating charges -€6,497
down €6,497 (-68.0%), from €9,559 to €3,063
- Taxes +€4,105
up €4,105 (+366%), from €1,122 to €5,227
- Financial charges +€2,751
up €2,751 (+47.9%), from €5,747 to €8,498
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.
Derived cash bridge
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 | €350,561 | €360,215 | +€9,654 | +2.8% |
| Fixed assets | 21/28 | €30,000 | €30,000 | = | 0.0% |
| Financial fixed assets | 28 | €30,000 | €30,000 | = | 0.0% |
| Current assets | 29/58 | €320,561 | €330,215 | +€9,654 | +3.0% |
| Amounts receivable within one year | 40/41 | €104,384 | €323,964 | +€219,580 | +210% |
| Trade receivables | 40 | €13,100 | €26,200 | +€13,100 | +100% |
| Other amounts receivable | 41 | €91,284 | €297,764 | +€206,480 | +226% |
| Cash at bank and in hand | 54/58 | €214,860 | €4,434 | -€210,426 | -97.9% |
| Deferred charges and accrued income | 490/1 | €1,318 | €1,817 | +€500 | +37.9% |
| Total equity and liabilities | 10/49 | €350,561 | €360,215 | +€9,654 | +2.8% |
| Equity | 10/15 | €310,537 | €292,943 | -€17,594 | -5.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €308,537 | €290,943 | -€17,594 | -5.7% |
| Amounts payable | 17/49 | €40,024 | €67,272 | +€27,248 | +68.1% |
| Amounts payable within one year | 42/48 | €40,024 | €67,272 | +€27,248 | +68.1% |
| Trade debts | 44 | €626 | €4,705 | +€4,079 | +652% |
| Suppliers | 440/4 | €626 | €4,705 | +€4,079 | +652% |
| Taxes, remuneration and social security | 45 | €15,696 | €21,800 | +€6,104 | +38.9% |
| Taxes | 450/3 | €15,696 | €21,800 | +€6,104 | +38.9% |
| Other amounts payable | 47/48 | €23,702 | €40,768 | +€17,066 | +72.0% |
| Other operating charges | 640/8 | €9,559 | €3,063 | -€6,497 | -68.0% |
| Gross operating margin | 9900 | €6,823 | €26,194 | +€19,370 | +284% |
| Operating profit (loss) | 9901 | -€2,736 | €23,131 | +€25,867 | |
| Financial income | 75/76B | €250,805 | €0 | -€250,805 | -100.0% |
| Recurring financial income | 75 | €250,805 | €0 | -€250,805 | -100.0% |
| Financial charges | 65/66B | €5,747 | €8,498 | +€2,751 | +47.9% |
| Recurring financial charges | 65 | €5,747 | €8,498 | +€2,751 | +47.9% |
| Profit (loss) for the period before taxes | 9903 | €242,323 | €14,633 | -€227,690 | -94.0% |
| Income taxes | 67/77 | €1,122 | €5,227 | +€4,105 | +366% |
| Profit (loss) for the period | 9904 | €241,201 | €9,406 | -€231,795 | -96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €241,201 | €9,406 | -€231,795 | -96.1% |
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 13 October 2026 via checked.be.