BCMG: 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.
BCMG
Largest movements
- Receivables within one year +€308,881
up €308,881 (+122%), from €253,589 to €562,470
of which Trade receivables: +€156,550
- Cash -€30,983
down €30,983 (-97.8%), from €31,674 to €691
mainly Receivables within one year (-€308,881) and Trade debts (-€270,271)
- Short-term financial debts +€425,208
up €425,208 (+45.9%), from €925,809 to €1.4m
- Trade debts -€270,271
down €270,271 (-58.5%), from €462,048 to €191,777
- Debts after one year +€55,000
up €55,000 (+14.6%), from €376,860 to €431,860
- Other debts +€54,866
up €54,866 (+65.4%), from €83,882 to €138,748
- Tax, wage and social debts +€43,470
up €43,470 (+429%), from €10,132 to €53,601
of which Remuneration and social security: +€32,110
- Gross operating margin -€46,954
down €46,954 (-20.4%), from €230,228 to €183,274
- Staff costs -€19,375
down €19,375 (-12.9%), from €150,156 to €130,781
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 | €1,893,063 | €2,172,994 | +€279,931 | +14.8% |
| Fixed assets | 21/28 | €60,925 | €49,947 | -€10,978 | -18.0% |
| Tangible fixed assets | 22/27 | €58,707 | €46,229 | -€12,478 | -21.3% |
| Land and buildings | 22 | €33,949 | €29,906 | -€4,044 | -11.9% |
| Plant, machinery and equipment | 23 | €24,649 | €16,323 | -€8,326 | -33.8% |
| Furniture and vehicles | 24 | €109 | - | -€109 | |
| Financial fixed assets | 28 | €2,218 | €3,718 | +€1,500 | +67.6% |
| Current assets | 29/58 | €1,832,138 | €2,123,047 | +€290,909 | +15.9% |
| Stocks and contracts in progress | 3 | €1,546,875 | €1,559,887 | +€13,012 | +0.8% |
| Stocks | 30/36 | €1,546,875 | €1,559,887 | +€13,012 | +0.8% |
| Amounts receivable within one year | 40/41 | €253,589 | €562,470 | +€308,881 | +122% |
| Trade receivables | 40 | - | €156,550 | +€156,550 | |
| Other amounts receivable | 41 | €253,589 | €405,919 | +€152,331 | +60.1% |
| Cash at bank and in hand | 54/58 | €31,674 | €691 | -€30,983 | -97.8% |
| Total equity and liabilities | 10/49 | €1,893,063 | €2,172,994 | +€279,931 | +14.8% |
| Equity | 10/15 | €12,070 | -€16,271 | -€28,341 | |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Contributions outside capital | 11 | €6,300 | €6,300 | = | 0.0% |
| Other | 1109/19 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €5,770 | - | -€5,770 | |
| Distributable reserves | 133 | €5,770 | - | -€5,770 | |
| Profit (loss) carried forward | 14 | - | -€22,571 | -€22,571 | |
| Amounts payable | 17/49 | €1,880,993 | €2,189,265 | +€308,272 | +16.4% |
| Amounts payable after more than one year | 17 | €376,860 | €431,860 | +€55,000 | +14.6% |
| Other amounts payable | 178/9 | €376,860 | €431,860 | +€55,000 | +14.6% |
| Amounts payable within one year | 42/48 | €1,481,871 | €1,735,144 | +€253,272 | +17.1% |
| Financial debts | 43 | €925,809 | €1,351,018 | +€425,208 | +45.9% |
| Credit institutions | 430/8 | €925,809 | €1,351,018 | +€425,208 | +45.9% |
| Trade debts | 44 | €462,048 | €191,777 | -€270,271 | -58.5% |
| Suppliers | 440/4 | €462,048 | €191,777 | -€270,271 | -58.5% |
| Taxes, remuneration and social security | 45 | €10,132 | €53,601 | +€43,470 | +429% |
| Taxes | 450/3 | €4,104 | €15,463 | +€11,360 | +277% |
| Remuneration and social security | 454/9 | €6,028 | €38,138 | +€32,110 | +533% |
| Other amounts payable | 47/48 | €83,882 | €138,748 | +€54,866 | +65.4% |
| Accrued charges and deferred income | 492/3 | €22,262 | €22,262 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €150,156 | €130,781 | -€19,375 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,979 | €12,478 | -€501 | -3.9% |
| Other operating charges | 640/8 | €2,866 | €4,706 | +€1,840 | +64.2% |
| Gross operating margin | 9900 | €230,228 | €183,274 | -€46,954 | -20.4% |
| Operating profit (loss) | 9901 | €64,226 | €35,308 | -€28,917 | -45.0% |
| Financial income | 75/76B | €93 | €0 | -€93 | -100.0% |
| Recurring financial income | 75 | €93 | €0 | -€93 | -100.0% |
| Financial charges | 65/66B | €65,549 | €63,649 | -€1,900 | -2.9% |
| Recurring financial charges | 65 | €65,549 | €63,649 | -€1,900 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,231 | -€28,341 | -€27,110 | -2,203% |
| Profit (loss) for the period | 9904 | -€1,231 | -€28,341 | -€27,110 | -2,203% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,231 | -€28,341 | -€27,110 | -2,203% |
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 30 October 2026 via checked.be.