SRL BG IMMO: 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.
What changed
SRL BG IMMO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€6,550
2024 · -€20,855+€27,406
Equity
€1.3m
2024 · €1.3m+€4,884
Cash
€58,792
2024 · €18,206+€40,586
Balance sheet total
€3.1m
2024 · €3.1m-€4,866
Largest movements
Assets
- Cash +€40,586
up €40,586 (+223%), from €18,206 to €58,792
mainly Depreciation (+€101,829) and Other debts (+€40,607)
Equity and liabilities
- Accrued charges and deferred income -€44,073
down €44,073 (-48.6%), from €90,658 to €46,585
- Other debts +€40,607
up €40,607 (+3.5%), from €1.1m to €1.2m
Income statement
- Gross operating margin +€62,890
up €62,890 (+64.2%), from €97,986 to €160,876
- Financial income -€52,804
down €52,804 (-93.2%), from €56,678 to €3,875
- Financial charges -€36,228
down €36,228 (-41.4%), from €87,461 to €51,233
- Depreciation +€19,744
up €19,744 (+24.1%), from €82,085 to €101,829
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.
Result 2024
-€20,855
Gross operating margin
+€62,890
Depreciation
-€19,744
Other operating charges
+€961
Financial income
-€52,804
Financial charges
+€36,228
Taxes
-€126
Result 2025
€6,550
raises the resultlowers the result
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.
From operations
+€115,392
Investment
-€76,686
Financing
+€1,880
Cash 2024
€18,206
From operations (derived)
+€115,392
Net result for the year
+€6,550
Depreciation
+€101,829
Receivables within one year
+€22,073
Deferred charges and accrued income
-€1,764
Trade debts
+€2,054
Tax, wage and social debts
-€11,883
Other debts
+€40,607
Accrued charges and deferred income
-€44,073
Investment (derived)
-€76,686
Investment in fixed assets (net)
-€72,320
Current investments
-€4,365
Financing
+€1,880
Debts after one year
-€7,520
Current portion of long-term debt
+€11,066
Contributions, distributions and other
-€1,666
Cash 2025
€58,792
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,079,929 | €3,075,064 | -€4,866 | -0.2% |
| Fixed assets | 21/28 | €2,827,386 | €2,797,878 | -€29,508 | -1.0% |
| Tangible fixed assets | 22/27 | €1,288,097 | €1,270,603 | -€17,494 | -1.4% |
| Land and buildings | 22 | €1,181,222 | €1,139,518 | -€41,704 | -3.5% |
| Plant, machinery and equipment | 23 | €64,786 | €48,264 | -€16,522 | -25.5% |
| Furniture and vehicles | 24 | €41,263 | €82,821 | +€41,558 | +101% |
| Assets under construction and advance payments | 27 | €826 | - | -€826 | |
| Financial fixed assets | 28 | €1,539,289 | €1,527,275 | -€12,014 | -0.8% |
| Current assets | 29/58 | €252,543 | €277,186 | +€24,643 | +9.8% |
| Amounts receivable within one year | 40/41 | €24,062 | €1,990 | -€22,073 | -91.7% |
| Trade receivables | 40 | €23,270 | €492 | -€22,778 | -97.9% |
| Other amounts receivable | 41 | €792 | €1,497 | +€705 | +89.0% |
| Current investments | 50/53 | €205,881 | €210,247 | +€4,365 | +2.1% |
| Cash at bank and in hand | 54/58 | €18,206 | €58,792 | +€40,586 | +223% |
| Deferred charges and accrued income | 490/1 | €4,394 | €6,158 | +€1,764 | +40.1% |
| Total equity and liabilities | 10/49 | €3,079,929 | €3,075,064 | -€4,866 | -0.2% |
| Equity | 10/15 | €1,298,724 | €1,303,608 | +€4,884 | +0.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,236,200 | €1,241,200 | +€5,000 | +0.4% |
| Distributable reserves | 133 | €1,236,200 | €1,241,200 | +€5,000 | +0.4% |
| Profit (loss) carried forward | 14 | €524 | €408 | -€116 | -22.1% |
| Amounts payable | 17/49 | €1,781,206 | €1,771,456 | -€9,750 | -0.5% |
| Amounts payable after more than one year | 17 | €478,635 | €471,114 | -€7,520 | -1.6% |
| Financial debts | 170/4 | €478,635 | €471,114 | -€7,520 | -1.6% |
| Amounts payable within one year | 42/48 | €1,211,914 | €1,253,757 | +€41,843 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €42,402 | €53,468 | +€11,066 | +26.1% |
| Trade debts | 44 | €836 | €2,890 | +€2,054 | +246% |
| Suppliers | 440/4 | €836 | €2,890 | +€2,054 | +246% |
| Taxes, remuneration and social security | 45 | €24,553 | €12,669 | -€11,883 | -48.4% |
| Taxes | 450/3 | €24,553 | €12,669 | -€11,883 | -48.4% |
| Other amounts payable | 47/48 | €1,144,122 | €1,184,730 | +€40,607 | +3.5% |
| Accrued charges and deferred income | 492/3 | €90,658 | €46,585 | -€44,073 | -48.6% |
| Non-recurring operating income | 76A | - | €19,000 | +€19,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,085 | €101,829 | +€19,744 | +24.1% |
| Other operating charges | 640/8 | €5,242 | €4,282 | -€961 | -18.3% |
| Gross operating margin | 9900 | €97,986 | €160,876 | +€62,890 | +64.2% |
| Operating profit (loss) | 9901 | €10,659 | €54,766 | +€44,107 | +414% |
| Financial income | 75/76B | €56,678 | €3,875 | -€52,804 | -93.2% |
| Recurring financial income | 75 | €56,678 | €3,875 | -€52,804 | -93.2% |
| Financial charges | 65/66B | €87,461 | €51,233 | -€36,228 | -41.4% |
| Recurring financial charges | 65 | €87,461 | €51,233 | -€36,228 | -41.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,124 | €7,408 | +€27,532 | |
| Income taxes | 67/77 | €731 | €857 | +€126 | +17.2% |
| Profit (loss) for the period | 9904 | -€20,855 | €6,550 | +€27,406 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,855 | €6,550 | +€27,406 |
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 28 October 2026 via checked.be.