BEAD
Annual accounts 2025
full format, filed on 25-08-2026, 25 days lateThe turnover shown is an estimate from the gross margin.
Turnover ≈ €500,000. Estimated: probably between €340,000 and €860,000.
Money flows
no detail for 2025Balance sheet
balance sheet total €2.7m on 31-12-2025in €m
in euro
Position in the sector
55.6%
Higher than 58% of 1,168 companies in 2025.
3.79
Higher than 77% of 1,125 companies in 2025.
0.6%
Higher than 34% of 1,157 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: bottom quarter
Staff
Staff costs divided by the average number of full-time equivalents.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
2.7m | 2.9m | 4.2m | 3.5m | 3.5m | 3.6m | 3.5m | 3.7m | 3.8m | 4.0m | 4.5m | 4.3m | 4.3m | 4.3m | 4.0m | 3.7m | 3.1m | 2.2m | 1.4m | 1.5m | |
21/28 |
2.1m | 2.2m | 3.6m | 2.9m | 3.1m | 3.2m | 3.3m | 3.4m | 3.6m | 3.7m | 4.2m | 4.0m | 4.1m | 4.2m | 3.8m | 2.8m | 2.9m | 895,187 | 1.1m | 724,083 | |
22/27 |
2.1m | 2.2m | 2.3m | 2.4m | 2.6m | 2.7m | 2.7m | 2.9m | 3.0m | 3.2m | 3.3m | 3.1m | 3.2m | 3.3m | 3.4m | 2.5m | 2.5m | 646,000 | 672,983 | 674,083 | |
22 |
2.0m | 2.1m | 2.3m | 2.4m | 2.5m | 2.7m | 2.7m | 2.8m | 3.0m | 3.1m | 3.3m | 3.1m | 3.2m | 2.8m | 2.8m | 2.5m | 2.5m | 632,847 | 656,321 | 673,907 | |
23 |
- | - | - | - | - | 386 | 977 | 1,568 | 2,159 | 2,748 | - | - | - | - | - | - | - | - | - | - | |
24 |
6,213 | 10,289 | 14,705 | 16,669 | - | 2,816 | 4,251 | 6,441 | 10,172 | 5,340 | 7,636 | 9,932 | 270 | - | 1,612 | 6,428 | 10,249 | 13,153 | 16,661 | 175 | |
27 |
36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 27,000 | - | 524,000 | 524,000 | - | - | - | - | - | |
28 |
- | 0 | 1.3m | 510,000 | 510,000 | 510,000 | 510,000 | 510,000 | 518,382 | 518,382 | 868,382 | 868,382 | 868,382 | 868,382 | 416,126 | 359,126 | 359,126 | 249,186 | 450,060 | 50,000 | |
29/58 |
639,298 | 707,568 | 662,269 | 553,258 | 451,906 | 376,811 | 276,288 | 292,485 | 234,709 | 293,731 | 280,438 | 281,387 | 200,918 | 151,552 | 190,769 | 874,541 | 228,286 | 1.3m | 282,167 | 743,628 | |
29 |
- | - | - | - | - | - | - | - | - | - | 90,566 | 89,225 | 86,009 | 84,725 | 86,184 | 232,300 | 78,500 | 246,831 | 51,000 | 135,000 | |
291 |
- | - | - | - | - | - | - | - | - | - | 90,566 | 89,225 | 86,009 | 84,725 | 86,184 | 232,300 | 78,500 | 246,831 | 51,000 | 135,000 | |
40/41 |
67,617 | 21,253 | 54,262 | 42,311 | 14,056 | 35,645 | 109,612 | 82,181 | 11,480 | 14,180 | 175,647 | 134,170 | 81,088 | 1,582 | 90,074 | 257,803 | 115,962 | 935,128 | 27,109 | 30,987 | |
40 |
45,746 | 6,720 | 43,095 | 42,311 | 13,244 | 35,603 | 109,612 | 82,181 | 11,480 | 1,074 | 3,523 | 3,829 | 1,074 | 1,462 | 1,074 | 180,504 | 45,844 | 723,771 | 23,456 | 28,278 | |
41 |
21,871 | 14,533 | 11,167 | - | 812 | 42 | - | - | - | 13,106 | 172,124 | 130,341 | 80,014 | 120 | 89,000 | 77,299 | 70,118 | 211,357 | 3,654 | 2,709 | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | - | 174 | 174 | 173 | 172 | 171 | 170 | 120,303 | 569,312 | |
54/58 |
571,127 | 685,741 | 607,216 | 500,640 | 437,216 | 328,772 | 165,944 | 207,375 | 219,237 | 277,171 | 10,608 | 54,335 | 30,300 | 61,304 | 13,083 | 19,261 | 24,855 | 103,267 | 83,754 | 8,329 | |
490/1 |
554 | 573 | 791 | 10,307 | 634 | 12,395 | 732 | 2,929 | 3,992 | 2,380 | 3,617 | 3,657 | 3,346 | 3,767 | 1,255 | 365,005 | 8,798 | 14,441 | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
2.7m | 2.9m | 4.2m | 3.5m | 3.5m | 3.6m | 3.5m | 3.7m | 3.8m | 4.0m | 4.5m | 4.3m | 4.3m | 4.3m | 4.0m | 3.7m | 3.1m | 2.2m | 1.4m | 1.5m | |
10/15 |
1.5m | 1.5m | 1.2m | 1.1m | 1.0m | 948,719 | 840,648 | 720,272 | 744,128 | 836,421 | 1.1m | 1.1m | 1.1m | 912,306 | 447,998 | 565,226 | 699,259 | 740,235 | 771,966 | 788,643 | |
10/11 |
173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | |
10 |
173,525 | 173,525 | 173,525 | 173,525 | 173,525 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | 173,525 | |
13 |
32,407 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | |
130/1 |
17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | 17,353 | |
133 |
15,054 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
1.3m | 1.3m | 1.0m | 927,105 | 822,432 | 732,184 | 622,913 | 501,339 | 523,997 | 615,091 | 876,647 | 858,899 | 826,232 | 686,180 | 257,120 | 374,348 | 508,381 | 549,357 | 581,088 | 597,765 | |
15 |
19,564 | 20,762 | 22,061 | 23,260 | 24,459 | 25,657 | 26,856 | 28,055 | 29,254 | 30,453 | 31,651 | 32,850 | 34,049 | 35,248 | - | - | - | - | - | - | |
17/49 |
1.2m | 1.4m | 3.0m | 2.4m | 2.5m | 2.6m | 2.7m | 3.0m | 3.0m | 3.2m | 3.4m | 3.2m | 3.2m | 3.4m | 3.5m | 3.1m | 2.4m | 1.5m | 633,243 | 679,068 | |
17 |
983,222 | 1.2m | 2.8m | 2.2m | 2.3m | 2.4m | 2.5m | 2.7m | 2.8m | 2.9m | 3.1m | 3.0m | 3.0m | 2.9m | 3.2m | 2.8m | 2.1m | 1.3m | 566,602 | 605,850 | |
170/4 |
983,222 | 1.2m | 2.8m | 2.2m | 2.3m | 2.4m | 2.5m | 2.7m | 2.8m | 2.9m | 3.1m | 3.0m | 3.0m | 2.9m | 3.2m | 2.8m | 2.1m | 1.3m | 558,132 | 600,524 | |
178/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 7,254 | 6,814 | 4,998 | 8,469 | 5,326 | |
42/48 |
168,724 | 135,778 | 162,641 | 159,971 | 156,686 | 162,493 | 131,185 | 209,744 | 196,291 | 190,093 | 199,560 | 150,384 | 201,025 | 402,422 | 295,517 | 293,600 | 294,365 | 100,798 | 59,045 | 54,712 | |
42 |
93,202 | 97,133 | 117,121 | 112,678 | 108,426 | 104,357 | 100,462 | 96,734 | 93,164 | 89,824 | 91,227 | 54,895 | 119,029 | 113,401 | 108,016 | 102,931 | 101,865 | 90,828 | 49,663 | 47,341 | |
44 |
53,436 | 15,363 | 25,360 | 27,557 | 27,440 | 15,720 | 14,605 | 83,144 | 78,062 | 76,376 | 85,903 | 77,721 | 66,260 | 55,804 | 23,474 | 185,991 | 146,582 | 8,164 | 9,027 | 863 | |
440/4 |
53,436 | 15,363 | 25,360 | 27,557 | 27,440 | 15,720 | 14,605 | 83,144 | 78,062 | 76,376 | 85,903 | 77,721 | 66,260 | 55,804 | 23,474 | 185,991 | 146,582 | 8,164 | 9,027 | 863 | |
46 |
7,806 | 9,746 | 6,768 | 7,539 | 6,307 | 21,939 | - | - | - | - | - | - | - | 150,000 | 150,000 | - | - | - | - | - | |
45 |
3,764 | 4,077 | 3,934 | 5,973 | 2,304 | 8,767 | 7,167 | 21,276 | 16,834 | 15,924 | 14,535 | 10,181 | 6,794 | 73,358 | 6,441 | 4,678 | 45,918 | 1,806 | 355 | 1,579 | |
450/3 |
3,764 | 4,077 | 3,934 | 5,973 | 2,304 | 8,767 | 7,167 | 18,205 | 8,198 | 7,275 | 6,314 | 5,572 | 6,794 | 73,358 | 6,441 | 4,678 | 45,918 | 1,806 | 355 | 1,579 | |
454/9 |
- | - | - | - | - | - | - | 3,070 | 8,636 | 8,648 | 8,220 | 4,609 | - | - | - | - | - | - | - | - | |
47/48 |
10,516 | 9,459 | 9,459 | 6,224 | 12,209 | 11,711 | 8,951 | 8,591 | 8,231 | 7,969 | 7,895 | 7,587 | 8,942 | 9,859 | 7,587 | - | - | - | - | 4,929 | |
492/3 |
57,267 | 70,257 | 39,814 | 18,979 | 18,567 | 35,453 | 37,257 | 39,167 | 37,013 | 51,826 | 56,651 | 56,051 | 51,291 | 68,176 | 76,288 | 39,200 | 13,461 | 19,551 | 7,597 | 18,505 | |
| Income statement | |||||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 169,333 | 112,268 | - | - | - | - | - | |
76A |
2,016 | 2,324 | - | - | - | 5,564 | 66,207 | - | 14,171 | 22,383 | - | - | - | 476,185 | - | 948 | - | 25,935 | - | - | |
9900 |
272,131 | 333,048 | 313,015 | 311,437 | 296,387 | 337,531 | 363,093 | 313,911 | 224,390 | 195,791 | 344,405 | 315,143 | 415,233 | 244,486 | 150,388 | 116,799 | 144,165 | 22,700 | 26,570 | 70,873 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 22,709 | 36,705 | - | - | - | - | - | |
62 |
- | - | - | - | - | - | -34 | 64,415 | 55,304 | 57,458 | 55,432 | 9,241 | - | - | - | - | - | - | - | 2,952 | |
630 |
136,974 | 146,708 | 136,520 | 134,956 | 133,729 | 133,578 | 137,774 | 156,650 | 154,843 | 154,831 | 150,301 | 141,801 | 127,279 | 118,795 | 110,650 | 99,064 | 95,616 | 20,784 | 21,829 | 20,455 | |
640/8 |
22,507 | 27,967 | 20,929 | 18,589 | 16,114 | 18,140 | 15,216 | 14,279 | 28,004 | 96,420 | 5,118 | 12,048 | 13,029 | 19,656 | 9,640 | 29,124 | 17,534 | 9,875 | 14,954 | 9,821 | |
66A |
- | - | - | - | - | - | - | 8,381 | - | 50,000 | - | - | - | - | - | - | - | 6,744 | - | - | |
9901 |
112,651 | 158,373 | 155,566 | 157,892 | 146,545 | 185,814 | 210,138 | 70,186 | -13,761 | -112,918 | 133,553 | 152,053 | 274,926 | 106,035 | 30,098 | -11,389 | 31,015 | -7,959 | -10,212 | 37,645 | |
75/76B |
1,255 | 1.5m | 1,282 | 1,300 | 2,240 | 1,217 | 1,199 | 1,199 | 20,525 | 23,673 | 2,497 | 2,565 | 5,213 | 2,194 | 1,358 | 8,485 | 15,107 | 16,293 | 17,592 | 18,029 | |
75 |
1,255 | 1.5m | 1,282 | 1,300 | 1,288 | 1,217 | 1,199 | 1,199 | 6,354 | 1,290 | 2,497 | 2,565 | 5,213 | 2,194 | 1,358 | 8,485 | 15,107 | 16,293 | 17,592 | 18,029 | |
76B |
- | - | - | - | 952 | - | - | - | 14,171 | 22,383 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
76,190 | 1.4m | 69,071 | 54,520 | 58,537 | 77,761 | 89,762 | 93,787 | 97,839 | 172,258 | 118,230 | 121,914 | 140,087 | 155,241 | 148,683 | 130,288 | 87,058 | 59,255 | 24,056 | 37,207 | |
65 |
76,190 | 105,802 | 69,071 | 54,520 | 56,961 | 77,761 | 89,762 | 93,787 | 97,839 | 122,258 | 118,230 | 121,914 | 140,087 | 155,241 | 148,683 | 130,288 | 87,058 | 59,255 | 24,056 | 37,207 | |
66B |
0 | 1.3m | - | - | 1,576 | - | - | - | - | 50,000 | - | - | - | - | - | - | - | - | - | - | |
9903 |
37,716 | 293,174 | 87,777 | 104,672 | 90,248 | 109,270 | 121,575 | -22,401 | -91,075 | -261,503 | 17,820 | 32,704 | 140,052 | 429,172 | -117,227 | -132,243 | -40,936 | -31,731 | -16,677 | 18,466 | |
67/77 |
22,662 | 15,467 | 3,833 | - | - | - | - | 257 | 19 | 54 | 72 | 37 | - | 112 | 1 | 1,790 | 40 | - | - | - | |
9904 |
15,054 | 277,707 | 83,944 | 104,672 | 90,248 | 109,270 | 121,575 | -22,658 | -91,094 | -261,557 | 17,748 | 32,667 | 140,052 | 429,060 | -117,228 | -134,033 | -40,976 | -31,731 | -16,677 | 18,466 | |
9905 |
15,054 | 277,707 | 83,944 | 104,672 | 90,248 | 109,270 | 121,575 | -22,658 | -91,094 | -261,557 | 17,748 | 32,667 | 140,052 | 429,060 | -117,228 | -134,033 | -40,976 | -31,731 | -16,677 | 18,466 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
1.3m | 1.3m | 1.0m | 927,105 | 822,432 | 732,184 | 622,913 | 501,339 | 523,997 | 615,091 | 876,647 | 858,899 | 826,232 | 686,180 | 257,120 | 374,348 | 508,381 | 549,357 | 581,088 | 597,765 | |
14P |
1.3m | 1.0m | 927,105 | 822,432 | 732,184 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
15,054 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
6921 |
15,054 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
0 | 0 | - | - | - | - | - | 0.9 | 1 | 1 | 1 | 0.2 | - | - | - | - | - | - | - | 0.2 | |
Hours worked1013 |
- | - | - | - | - | - | - | 1,775 | 1,908 | - | 1,906 | 310 | - | - | - | - | - | - | - | 228 | |
| Document | |||||||||||||||||||||
The accounts for 9 older financial years (1997-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 20 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 25-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 25 days after the deadline. Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00476039.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 25-08-2026 | 2026-00476039 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00473860 | |
| 30-11-2023 | abbreviated format | 28-06-2024 | 2024-00216018 | |
| 30-11-2022 | abbreviated format | 21-06-2023 | 2023-00149187 | |
| 30-11-2021 | abbreviated format | 30-06-2022 | 2022-20127719 | |
| 30-11-2020 | abbreviated format | 29-06-2021 | 2021-28300146 | |
| 30-11-2019 | abbreviated format | 24-08-2020 | 2020-44100008 | |
| 30-11-2018 | abbreviated format | 11-04-2019 | 2019-09700579 | |
| 30-11-2017 | abbreviated format | 05-07-2018 | 2018-30600322 | |
| 30-11-2016 | abbreviated format | 20-04-2017 | 2017-09900363 | |
| 30-11-2015 | abbreviated format | 25-03-2016 | 2016-08100499 | |
| 30-11-2014 | abbreviated format | 29-04-2015 | 2015-10700544 | |
| 30-11-2013 | abbreviated format | 20-06-2014 | 2014-20100487 | |
| 30-11-2012 | abbreviated format | 24-05-2013 | 2013-13200580 | |
| 30-11-2011 | abbreviated format | 26-09-2012 | 2012-57600587 | |
| 30-11-2010 | abbreviated format | 30-05-2011 | 2011-13200535 | |
| 30-11-2009 | abbreviated format | 04-06-2010 | 2010-15500136 | |
| 30-11-2008 | abbreviated format | 11-12-2009 | 2009-88900057 | |
| 30-11-2007 | abbreviated format | 04-06-2008 | 2008-18800201 | |
| 30-11-2006 | abbreviated format | 01-06-2007 | 2007-17900100 | |
| 30-11-2005 | abbreviated format | 07-04-2006 | 2006-10603221 | |
| 30-11-2004 | abbreviated format | 12-05-2005 | 2005-14602134 | |
| 30-11-2003 | abbreviated format | 05-05-2004 | 2004-13302604 | |
| 30-11-2002 | abbreviated format | 17-07-2003 | 2003-46202499 | |
| 30-11-2001 | abbreviated format | 03-04-2002 | 2002-08701273 | |
| 30-11-2000 | abbreviated format | 26-04-2001 | 2001-11101507 | |
| 30-11-1999 | abbreviated format | 18-05-2000 | 2000-14203848 | |
| 30-11-1998 | abbreviated format | 21-05-1999 | 1999-11202441 | |
| 30-11-1997 | abbreviated format | 11-06-1998 | 1998-17200930 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 249,625 | 305,081 | 292,086 | 292,848 | 280,273 | 319,392 | 347,911 | 226,837 | 141,082 | 41,913 | 283,854 | 293,854 | 402,204 | 224,830 | 140,748 | 87,675 | 126,631 | 12,824 | 11,617 | 58,100 | ||
| 152,028 | 424,416 | 220,464 | 239,628 | 223,977 | 242,848 | 259,349 | 133,992 | 63,749 | -106,726 | 168,049 | 174,469 | 267,330 | 547,856 | -6,578 | -34,969 | 54,640 | -10,947 | 5,153 | 38,922 | ||
| 28,740 | 29,407 | 750,592 | 18,371 | -2,816 | 83,422 | 0 | -8,382 | 7,177 | 2,955 | 377,257 | 42,608 | 32,277 | 562,125 | 1.1m | 27,896 | 2.1m | 11,555 | 420,789 | - | ||
| -114,614 | 78,526 | 106,576 | 63,424 | 108,445 | 162,827 | -41,431 | -11,862 | -57,934 | 266,563 | -43,727 | 24,035 | -31,004 | 48,221 | -6,178 | -5,594 | -78,412 | 19,512 | 75,426 | - | ||
| 470,574 | 571,790 | 499,628 | 393,287 | 295,220 | 214,317 | 145,103 | 82,741 | 38,418 | 103,638 | 80,878 | 131,003 | -108 | -250,870 | -104,748 | 580,941 | -66,080 | 1.2m | 223,122 | 688,916 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 62.6% | 26.8% | - | - | - | - | - | ||
| 55.6% | 51.7% | 29.0% | 32.6% | 29.5% | 26.5% | 23.8% | 19.6% | 19.6% | 20.9% | 24.5% | 25.4% | 24.6% | 21.1% | 11.3% | 15.3% | 22.4% | 33.7% | 54.9% | 53.7% | ||
| 3.79 | 5.21 | 4.07 | 3.46 | 2.88 | 2.32 | 2.11 | 1.39 | 1.20 | 1.55 | 1.41 | 1.87 | 1.00 | 0.38 | 0.65 | 2.98 | 0.78 | 12.90 | 4.78 | 13.59 | ||
| 0.80 | 0.93 | 2.45 | 2.07 | 2.39 | 2.77 | 3.20 | 4.11 | 4.09 | 3.78 | 3.08 | 2.93 | 3.07 | 3.74 | 7.88 | 5.54 | 3.47 | 1.97 | 0.82 | 0.86 | ||
| 1.0% | 18.5% | 6.9% | 9.2% | 8.7% | 11.5% | 14.5% | -3.1% | -12.2% | -31.3% | 1.6% | 3.0% | 13.3% | 47.0% | -26.2% | -23.7% | -5.9% | -4.3% | -2.2% | 2.3% | ||
| 0.6% | 9.6% | 2.0% | 3.0% | 2.6% | 3.1% | 3.4% | -0.6% | -2.4% | -6.5% | 0.4% | 0.8% | 3.3% | 9.9% | -2.9% | -3.6% | -1.3% | -1.4% | -1.2% | 1.3% | ||
| 3.28 | 2.88 | 4.23 | 5.37 | 4.92 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 3 days | 3 days | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 897 days | 233 days | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 30-11-2023 | 30-11-2022 | 30-11-2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €337,701 | €434,834 | €561,922 | - | - |
| Mortgages, amount registered | €1.5m | €1.5m | - | - | - |
| - | - | €1.5m | - | - | |
| Carrying value of the mortgaged assets | €1.4m | €1.4m | €1.5m | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 30-11-2023 | 30-11-2022 | 30-11-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €28,740 | €29,407 | €6,494 | €18,371 | - |
| Financial fixed assets | - | - | €744,098 | - | - |
| €136,974 | €146,708 | €136,520 | €134,956 | €133,729 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on BEAD
The operating result for 2025 is 29% lower than in 2024 and the lowest since 2018.
Debt's share of the balance-sheet total falls from 48.3% to 44.4%. Equity is higher and debt is lower.
- 2025 Net result -95% on 2024. The previous financial year ran 13 months, this one 12. The accounts now follow the full format, last year the abbreviated format.
- 2024 Net result +231% on 2023. This financial year ran 13 months, the previous one 12.