Benetech (0507.912.190): financials and annual accounts

Benetech

Olen ·KBO/BCE: BE 0507.912.190

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Balance sheet: assets
Total assets`20/58`	1.4m	724,962	768,166	680,720	569,613	414,026	449,582	328,185	293,846	202,862
Formation expenses`20`	-	-	-	-	-	-	-	0	-	-
Fixed assets`21/28`	162,683	8,130	10,395	22,407	41,530	68,194	100,647	95,331	83,215	43,303
Intangible fixed assets`21`	-	-	-	-	-	-	-	0	-	-
Tangible fixed assets`22/27`	162,683	8,130	10,395	22,407	41,530	68,194	100,647	95,331	83,215	43,303
Land and buildings`22`	4,805	5,339	5,873	6,407	6,941	7,475	8,009	8,543	9,077	9,610
Plant, machinery and equipment`23`	44,717	856	2,869	3,130	3,334	-	-	0	-	-
Furniture and vehicles`24`	82,918	1,935	1,653	12,870	31,255	60,719	92,638	86,788	74,139	33,693
Other tangible fixed assets`26`	30,242	-	-	-	-	-	-	0	-	-
Assets under construction and advance payments`27`	-	-	-	-	-	-	-	0	-	-
Financial fixed assets`28`	-	-	-	-	-	-	-	0	-	-
Current assets`29/58`	1.3m	716,831	757,772	658,313	528,083	345,832	348,935	232,854	210,630	159,559
Amounts receivable after more than one year`29`	-	-	-	-	-	-	-	0	-	-
Trade receivables`290`	-	-	-	-	-	-	-	0	-	-
Other amounts receivable`291`	-	-	-	-	-	-	-	0	-	-
Stocks and contracts in progress`3`	72,105	53,554	51,663	127,000	5,896	40,000	7,000	3,000	3,000	3,000
Stocks`30/36`	57,105	53,554	51,663	127,000	5,896	20,000	7,000	3,000	3,000	3,000
Contracts in progress`37`	15,000	-	-	-	0	20,000	-	0	-	-
Amounts receivable within one year`40/41`	822,092	366,990	362,038	337,711	281,318	226,179	216,142	201,704	141,111	118,617
Trade receivables`40`	629,816	311,202	326,452	293,414	245,905	198,951	141,226	179,891	107,452	96,194
Other amounts receivable`41`	192,277	55,787	35,585	44,297	35,413	27,228	74,916	21,813	33,659	22,423
Current investments`50/53`	-	-	-	-	-	-	-	0	-	-
Cash at bank and in hand`54/58`	359,756	292,403	325,789	188,993	226,815	79,107	125,792	28,150	66,065	37,941
Deferred charges and accrued income`490/1`	21,292	3,885	18,282	4,610	14,054	547	-	0	454	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	1.4m	724,962	768,166	680,720	569,613	414,026	449,582	328,185	293,846	202,862
Equity`10/15`	752,358	510,638	374,808	279,346	226,637	131,473	129,580	87,909	81,728	55,059
Contributions`10/11`	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	-	0	-	-
Contributions outside capital`11`	-	-	-	-	-	-	-	0	-	-
Share premium`1100/10`	-	-	-	-	-	-	-	0	-	-
Revaluation surpluses`12`	-	-	-	-	-	-	-	0	-	-
Reserves`13`	733,758	492,038	356,208	18,540	24,100	29,660	29,660	29,660	29,660	19,860
Non-distributable reserves`130/1`	-	-	-	-	0	1,860	-	0	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	1,860	1,860
Reserves not available under the articles`1311`	-	-	-	-	0	1,860	-	-	-	-
Own shares acquired`1312`	-	-	-	-	-	-	-	0	-	-
Other`1319`	-	-	-	-	-	-	-	0	-	-
Tax-exempt reserves`132`	105,250	110,810	53,220	16,680	22,240	27,800	27,800	27,800	27,800	18,000
Distributable reserves`133`	628,508	381,228	302,988	1,860	1,860	-	-	0	-	-
Profit (loss) carried forward`14`	-	-	0	242,206	183,937	83,213	81,320	39,649	33,468	16,599
Investment grants`15`	-	-	-	-	-	-	-	0	-	-
Advance to shareholders on the distribution of net assets`19`	-	-	-	-	-	-	-	0	-	-
Provisions and deferred taxes`16`	-	-	-	-	-	-	-	0	-	-
Provisions for liabilities and charges`160/5`	-	-	-	-	-	-	-	0	-	-
Pensions and similar obligations`160`	-	-	-	-	-	-	-	0	-	-
Taxes`161`	-	-	-	-	-	-	-	0	-	-
Major repairs and maintenance`162`	-	-	-	-	-	-	-	0	-	-
Environmental obligations`163`	-	-	-	-	-	-	-	0	-	-
Other liabilities and charges`164/5`	-	-	-	-	-	-	-	0	-	-
Deferred taxes`168`	-	-	-	-	-	-	-	0	-	-
Amounts payable`17/49`	685,570	214,324	393,359	401,374	342,976	282,554	320,001	240,276	212,118	147,803
Amounts payable after more than one year`17`	37,427	-	0	6,067	44,220	63,489	101,622	96,204	90,732	58,766
Financial debts`170/4`	37,427	-	0	6,067	44,220	63,489	101,622	96,204	90,732	58,766
Trade debts`175`	-	-	-	-	-	-	-	0	-	-
Advances received on contracts in progress`176`	-	-	-	-	-	-	-	0	-	-
Other amounts payable`178/9`	-	-	-	-	-	-	-	0	-	-
Amounts payable within one year`42/48`	648,143	214,324	393,359	395,088	298,537	218,846	217,942	143,854	120,278	88,643
Current portion of amounts payable after more than one year`42`	9,293	0	6,067	38,153	19,268	38,133	39,793	34,582	25,295	10,741
Financial debts`43`	-	-	-	-	-	-	-	0	-	-
Credit institutions`430/8`	-	-	-	-	-	-	-	0	-	-
Other loans`439`	-	-	-	-	-	-	-	0	-	-
Trade debts`44`	556,979	165,198	322,134	298,957	145,667	161,851	141,635	72,188	80,108	68,708
Suppliers`440/4`	556,979	165,198	322,134	298,957	145,667	161,851	141,635	72,188	80,108	68,708
Bills of exchange payable`441`	-	-	-	-	-	-	-	0	-	-
Advances received on contracts in progress`46`	-	-	-	-	-	-	-	0	-	-
Taxes, remuneration and social security`45`	81,871	49,126	40,157	57,978	53,601	18,862	36,514	37,084	14,875	9,194
Taxes`450/3`	52,809	28,182	10,453	33,658	24,874	1,668	0	7,087	11,237	4,641
Remuneration and social security`454/9`	29,062	20,944	29,704	24,320	28,728	17,193	36,514	29,997	3,639	4,553
Other amounts payable`47/48`	-	0	25,000	0	80,000	-	-	0	-	-
Accrued charges and deferred income`492/3`	-	-	0	219	219	219	438	219	1,108	394
Income statement
Non-recurring operating income`76A`	-	-	-	-	-	-	-	0	-	-
Gross operating margin`9900`	638,356	395,612	446,885	311,516	486,648	258,697	361,487	276,950	187,284	186,179
Remuneration, social security and pensions`62`	299,882	212,814	308,405	224,269	248,910	221,518	259,370	235,767	127,488	119,357
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	15,158	4,037	13,812	22,019	32,758	32,453	42,834	33,884	24,684	23,530
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-	-	-	-	-	0	-	-
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-	-	-	-	-	-	-	0	-	-
Other operating charges`640/8`	1,208	999	783	896	620	506	738	650	791	1,655
Operating charges capitalised as restructuring costs`649`	-	-	-	-	-	-	-	0	-	-
Non-recurring operating charges`66A`	3,586	0	1,000	150	-	1,000	437	0	-	-
Operating profit (loss)`9901`	318,522	177,761	122,885	64,181	204,360	3,221	58,108	6,649	34,321	41,637
Financial income`75/76B`	6,389	6,294	1,690	4,724	2,611	1,915	613	675	-	0
Recurring financial income`75`	6,389	6,294	1,690	4,724	2,611	1,915	613	675	-	0
Non-recurring financial income`76B`	-	-	-	-	-	-	-	0	-	-
Financial charges`65/66B`	382	42	165	744	1,101	1,575	1,846	1,901	1,057	537
Recurring financial charges`65`	382	42	165	744	1,101	1,575	1,846	1,901	1,057	537
Non-recurring financial charges`66B`	-	-	-	-	-	-	-	0	-	-
Profit (loss) for the period before taxes`9903`	324,529	184,012	124,410	68,162	205,870	3,561	56,875	5,422	33,264	41,100
Income taxes`67/77`	82,809	48,182	28,948	15,453	30,705	1,668	15,204	-759	6,596	4,641
Profit (loss) for the period`9904`	241,720	135,830	95,462	52,709	175,164	1,892	41,671	6,181	26,668	36,459
Transfer from tax-exempt reserves`789`	5,560	5,560	5,560	5,560	5,560	-	-	0	7,200	-
Transfer to tax-exempt reserves`689`	0	63,150	42,100	-	-	-	-	0	17,000	18,000
Profit (loss) for the period to be appropriated`9905`	247,280	78,240	58,922	58,269	180,724	1,892	41,671	6,181	16,868	18,459
Appropriation of the result
Profit (loss) to be appropriated`9906`	247,280	78,240	301,128	242,206	263,937	83,213	81,320	39,649	33,468	18,459
Profit (loss) brought forward from the previous period`14P`	-	0	242,206	183,937	83,213	-	-	-	-	-
Transfer from equity`791/2`	-	-	-	-	-	-	-	0	-	-
Transfer to equity`691/2`	247,280	78,240	301,128	-	-	-	-	0	-	1,860
Addition to contributions`691`	-	-	-	-	-	-	-	0	-	-
To the legal reserve`6920`	-	-	-	-	-	-	-	0	-	1,860
To other reserves`6921`	247,280	78,240	301,128	-	-	-	-	0	-	-
Profit to be distributed`694/7`	-	-	-	0	80,000	-	-	0	-	-
Return on contributions (dividend)`694`	-	-	-	-	-	-	-	0	-	-
Directors or managers`695`	-	-	-	0	80,000	-	-	0	-	-
Employees`696`	-	-	-	-	-	-	-	0	-	-
Social balance sheet
Average staff (FTE)`9087`	5.1	5	5.9	4.7	5.1	5.1	4.4	4.2	2.8	1.5
Hours worked`1013`	7,673	6,020	8,351	6,678	7,558	6,738	7,816	7,631	5,280	4,909
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	17-06-2026	2026-00175800	PDF
31-12-2024	abbreviated format	20-06-2025	2025-00158431	PDF
31-12-2023	abbreviated format	13-06-2024	2024-00126498	PDF
31-12-2022	abbreviated format	06-07-2023	2023-00212784	PDF
31-12-2021	abbreviated format	06-07-2022	2022-20155337	PDF
31-12-2020	micro format	14-06-2021	2021-19500418	PDF
31-12-2019	micro format	15-07-2020	2020-32100316	PDF
31-12-2018	micro format	08-07-2019	2019-31100517	PDF
31-12-2017	abbreviated format	02-07-2018	2018-27800182	PDF
31-12-2016	abbreviated format	27-06-2017	2017-24800256	PDF

Year	Entries	Awarded	Paid
2024	1	€1,500	€1,500
2023	1	€198	€198
2022	1	€173	€173

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EBITDA	333,680	181,798	136,697	86,201	237,118	35,674	100,942	40,533	59,005	65,167
Cash flow	256,878	139,867	109,274	74,729	207,922	34,345	84,505	40,065	51,352	59,989
Investment in fixed assets	169,710	1,773	1,800	2,897	6,094	0	49,000	46,000	64,596	66,833
Change in cash	67,354	-33,386	136,796	-37,823	147,709	-46,686	97,642	-37,915	28,124	-
Working capital	627,103	502,507	364,413	263,225	229,546	126,986	130,993	89,000	90,352	70,915
Solvency	52.3%	70.4%	48.8%	41.0%	39.8%	31.8%	28.8%	26.8%	27.8%	27.1%
Current ratio	1.97	3.34	1.93	1.67	1.77	1.58	1.60	1.62	1.75	1.80
Quick ratio	1.86	3.09	1.80	1.34	1.75	1.40	1.57	1.60	1.73	1.77
Debt to equity	0.91	0.42	1.05	1.44	1.51	2.15	2.47	2.73	2.60	2.68
ROE	32.1%	26.6%	25.5%	18.9%	77.3%	1.4%	32.2%	7.0%	32.6%	66.2%
ROA	16.8%	18.7%	12.4%	7.7%	30.8%	0.5%	9.3%	1.9%	9.1%	18.0%
Interest coverage	over 100	over 100	over 100	over 100	over 100	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	5	5	6	6	5
full-time	4	3	4	4	3
part-time	1	2	2	2	2
in full-time equivalents	4.7	4.5	5.5	5.5	4.3
Average over the year, in full-time equivalents	5.1	5	5.9	4.7	5.1
On a permanent contract	5	5	6	6	5
Joined	4	2	7	1	6
Left	4	3	7	0	6

Benetech

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency52.3%

Current ratio1.97

Return on assets16.8%

Staff

Staff cost per FTE€58,800

Joined and left+0

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2024, 3 entries, €1,871 awarded, €1,871 paid

Key figures and ratios

Social balance sheet

Investments

Insights on Benetech

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€169,710	€1,773	€1,800	€2,897	€6,094
Depreciation and write-downs of the year	€15,158	€4,037	€13,812	€22,019	€32,758