BE CENTRAL (0670.901.290): financials and annual accounts

BE CENTRAL

Brussels ·KBO/BCE: BE 0670.901.290

Line	2025	2024	2023	2022	2021	2020	2019	2018
Balance sheet: assets
Total assets`20/58`	4.4m	5.3m	5.7m	5.3m	4.2m	3.7m	3.3m	1.3m
Formation expenses`20`	288	981	1,673	0	985	3,034	7,253	10,620
Fixed assets`21/28`	3.5m	3.9m	3.7m	2.9m	2.7m	2.8m	1.6m	825,821
Intangible fixed assets`21`	6,872	13,060	18,353	28,620	35,410	42,045	22,564	1,445
Tangible fixed assets`22/27`	3.5m	3.9m	3.7m	2.8m	2.7m	2.7m	1.6m	824,013
Furniture and vehicles`24`	99,800	140,718	162,529	101,356	100,058	115,904	87,631	55,830
Leasing and similar rights`25`	418	-	-	-	-	-	-	-
Other tangible fixed assets`26`	3.4m	3.7m	3.5m	2.7m	2.6m	2.6m	1.5m	768,183
Financial fixed assets`28`	-	-	-	0	4,000	363	363	363
Current assets`29/58`	834,809	1.4m	1.9m	2.4m	1.5m	918,736	1.7m	513,369
Amounts receivable within one year`40/41`	312,879	344,759	367,919	1.3m	285,338	321,814	150,591	104,123
Trade receivables`40`	226,668	125,628	84,604	779,935	84,354	173,727	120,745	96,872
Other amounts receivable`41`	86,212	219,131	283,315	528,005	200,985	148,087	29,846	7,251
Current investments`50/53`	86	149,097	119	-	-	-	-	-
Cash at bank and in hand`54/58`	517,854	924,123	1.6m	1.1m	1.2m	589,412	1.5m	387,164
Deferred charges and accrued income`490/1`	3,989	6,951	8,464	8,707	7,347	7,510	7,238	22,082
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	4.4m	5.3m	5.7m	5.3m	4.2m	3.7m	3.3m	1.3m
Equity`10/15`	2.7m	3.0m	2.9m	2.7m	2.6m	2.6m	2.4m	727,813
Contributions`10/11`	2.6m	2.6m	2.6m	2.6m	2.6m	2.6m	2.4m	803,109
Capital`10`	2.6m	2.6m	2.6m	2.6m	2.6m	-	-	-
Issued capital`100`	2.6m	2.6m	2.6m	2.6m	2.6m	2.6m	2.5m	803,109
Uncalled capital`101`	-	-	-	-	-	0	41,988	-
Contributions outside capital`11`	35,834	35,834	35,834	35,834	35,834	35,834	-	-
Share premium`1100/10`	35,834	35,834	35,834	35,834	35,834	35,834	-	-
Profit (loss) carried forward`14`	147,384	425,738	264,603	92,587	45,767	-2,196	-66,236	-75,296
Amounts payable`17/49`	1.6m	2.3m	2.8m	2.6m	1.6m	1.1m	939,219	621,997
Amounts payable after more than one year`17`	580,562	867,755	703,867	657,181	838,960	488,590	249,155	450,000
Financial debts`170/4`	540,562	817,755	643,867	587,181	758,960	398,590	149,155	-
Other amounts payable`178/9`	40,000	50,000	60,000	70,000	80,000	90,000	100,000	450,000
Amounts payable within one year`42/48`	1.0m	1.2m	1.5m	925,428	613,625	585,028	457,451	140,438
Current portion of amounts payable after more than one year`42`	300,121	355,440	408,867	237,931	235,452	118,376	32,269	-
Financial debts`43`	461	6,406	6,437	3,652	2,293	345	2,805	274
Credit institutions`430/8`	461	6,406	6,437	3,652	2,293	345	2,805	274
Trade debts`44`	236,798	273,789	616,627	242,542	183,807	254,944	304,707	67,147
Suppliers`440/4`	236,798	273,789	616,627	242,542	183,807	254,944	304,707	67,147
Taxes, remuneration and social security`45`	81,686	112,570	138,812	161,937	39,434	40,255	10,970	4,393
Taxes`450/3`	52,036	24,421	45,139	113,072	8,924	16,067	1,739	4,393
Remuneration and social security`454/9`	29,650	88,150	93,674	48,865	30,510	24,187	9,231	-
Other amounts payable`47/48`	421,168	430,997	343,755	279,366	152,639	171,109	106,700	68,623
Accrued charges and deferred income`492/3`	3,781	245,079	580,022	1.0m	146,531	33,048	232,613	31,560
Income statement
Non-recurring operating income`76A`	-	-	0	1,342	0	482	-	-
Gross operating margin`9900`	1.4m	1.6m	1.4m	874,592	645,454	569,370	343,765	169,686
Remuneration, social security and pensions`62`	844,500	701,772	583,139	358,181	246,329	213,780	158,395	99,073
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	426,719	424,348	356,374	319,960	305,050	256,518	154,603	130,505
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	27,310	24,540	-	0	14,562	17,638	6,300	-
Other operating charges`640/8`	264,784	968	10,350	1,046	5,795	868	7,962	809
Operating profit (loss)`9901`	-210,076	411,136	408,563	195,404	73,718	80,567	16,507	-60,701
Financial income`75/76B`	1,339	50	87	302	1	16	2	15
Recurring financial income`75`	1,339	50	87	302	1	16	2	15
Financial charges`65/66B`	35,058	39,555	30,992	16,396	14,394	7,368	7,449	14,610
Recurring financial charges`65`	35,058	39,555	30,992	16,396	14,394	7,368	7,449	14,610
Profit (loss) for the period before taxes`9903`	-243,795	371,631	377,658	179,309	59,324	73,215	9,059	-75,296
Income taxes`67/77`	34,560	85,963	62,312	4,929	3,842	-	-	-
Profit (loss) for the period`9904`	-278,355	285,668	315,345	174,380	55,482	73,215	9,059	-75,296
Profit (loss) for the period to be appropriated`9905`	-278,355	285,668	315,345	174,380	55,482	73,215	9,059	-75,296
Appropriation of the result
Profit (loss) to be appropriated`9906`	147,384	550,271	407,932	220,147	53,287	6,979	-66,236	-75,296
Profit (loss) brought forward from the previous period`14P`	425,738	264,603	92,587	45,767	-2,196	-	-	-
Profit to be distributed`694/7`	0	124,533	143,329	127,561	7,520	9,174	-	-
Return on contributions (dividend)`694`	0	101,033	109,091	109,091	-	-	-	-
Employees`696`	0	23,500	34,238	18,470	7,520	9,174	-	-
Social balance sheet
Average staff (FTE)`9087`	9.8	11	10.6	8	1.2	5.1	4.7	1.3
Hours worked`1013`	16,690	17,335	17,408	13,531	2,104	9,227	8,017	4,311
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2025	full format	03-08-2026	2026-00376631	PDF
31-12-2024	full format	01-08-2025	2025-00349671	PDF
31-12-2023	full format	29-08-2024	2024-00392218	PDF
31-12-2022	full format	20-07-2023	2023-00253196	PDF
31-12-2021	full format	28-06-2022	2022-20100291	PDF
31-12-2020	full format	23-07-2021	2021-40900571	PDF
31-12-2019	full format	19-08-2020	2020-42600248	PDF
31-12-2018	full format	25-06-2019	2019-22700279	PDF

Year	Entries	Awarded
2025	3	€208,440
2023	1	€77,161
2022	2	€144,591

Line	2025	2024	2023	2022	2021	2020	2019	2018
EBITDA	216,643	835,485	764,938	515,364	378,768	337,084	171,109	69,804
Cash flow	148,364	710,017	671,720	494,341	360,532	329,733	163,662	55,210
Investment in fixed assets	71,025	602,341	1.2m	506,213	228,414	1.4m	962,455	945,557
Change in cash	-406,268	-647,511	498,282	-170,110	654,049	-914,624	1.1m	-
Working capital	-205,424	245,727	433,639	1.5m	922,522	333,708	1.2m	372,932
Solvency	62.7%	56.8%	50.5%	50.9%	62.2%	70.0%	71.6%	53.9%
Current ratio	0.80	1.21	1.29	2.58	2.50	1.57	3.63	3.66
Debt to equity	0.59	0.76	0.98	0.97	0.61	0.43	0.40	0.85
ROE	-10.2%	9.5%	11.1%	6.5%	2.1%	2.8%	0.4%	-10.3%
ROA	-6.4%	5.4%	5.6%	3.3%	1.3%	2.0%	0.3%	-5.6%
Interest coverage	6.18	21.12	24.68	31.43	26.31	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	7	11	11	9	2
full-time	6	11	11	9	2
part-time	1	0	0	0	0
in full-time equivalents	6.8	11	11	9	2
Average over the year, in full-time equivalents	9.8	11	10.6	8	1.2
On a permanent contract	7	11	11	8	2
Joined	28	26	37	28	1
Left	32	26	35	28	0

BE CENTRAL

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency62.7%

Current ratio0.80

Return on assets-6.4%

Staff

Staff cost per FTE€86,174

Joined and left-4

Filed annual accounts

Filings

Subsidies and aid

European Union 2022 to 2025, 6 entries, €430,192 in total

Projects

Key figures and ratios

Social balance sheet

Investments

Insights on BE CENTRAL

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€69,350	€597,541	€1.2m	€502,013	€220,664
Intangible fixed assets	€1,675	€4,800	€1,050	€4,200	€3,750
Financial fixed assets	-	-	-	-	€4,000
Depreciation and write-downs of the year	€426,719	€424,348	€356,374	€319,960	€305,050