B en S MANAGEMENT: 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
B en S MANAGEMENT
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€184,383
2024 · €129,041+€55,342
Equity
€1.8m
2024 · €1.6m+€184,383
Cash
€82,441
2024 · €101,723-€19,281
Balance sheet total
€3.4m
2024 · €3.5m-€46,067
Largest movements
Assets
- Tangible fixed assets -€37,817
down €37,817 (-1.7%), from €2.2m to €2.2m
of which Land and buildings: -€43,281
Equity and liabilities
- Debts after one year -€240,000
down €240,000 (-16.4%), from €1.5m to €1.2m
- Reserves +€184,000
up €184,000 (+136%), from €135,197 to €319,197
of which Distributable reserves: +€184,000
Income statement
- Financial income +€50,571
new in 2025: €50,571
- Gross operating margin +€10,977
up €10,977 (+3.4%), from €324,895 to €335,872
- Taxes +€5,500
up €5,500 (+42.6%), from €12,900 to €18,400
- Depreciation +€4,459
up €4,459 (+4.1%), from €108,539 to €112,998
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
€129,041
Gross operating margin
+€10,977
Depreciation
-€4,459
Other operating charges
+€610
Financial income
+€50,571
Financial charges
+€3,144
Taxes
-€5,500
Result 2025
€184,383
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
+€281,469
Investment
-€60,751
Financing
-€240,000
Cash 2024
€101,723
From operations (derived)
+€281,469
Net result for the year
+€184,383
Depreciation
+€112,998
Receivables within one year
-€34,307
Deferred charges and accrued income
+€8,845
Trade debts
-€787
Tax, wage and social debts
+€21,419
Other debts
-€7,672
Accrued charges and deferred income
-€3,410
Investment (derived)
-€60,751
Investment in fixed assets (net)
-€60,751
Financing
-€240,000
Debts after one year
-€240,000
Cash 2025
€82,441
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,484,889 | €3,438,823 | -€46,067 | -1.3% |
| Fixed assets | 21/28 | €3,343,190 | €3,290,943 | -€52,247 | -1.6% |
| Tangible fixed assets | 22/27 | €2,213,018 | €2,175,201 | -€37,817 | -1.7% |
| Land and buildings | 22 | €2,124,548 | €2,081,266 | -€43,281 | -2.0% |
| Plant, machinery and equipment | 23 | €74,298 | €81,451 | +€7,152 | +9.6% |
| Furniture and vehicles | 24 | €14,172 | €12,484 | -€1,688 | -11.9% |
| Financial fixed assets | 28 | €1,130,172 | €1,115,742 | -€14,430 | -1.3% |
| Current assets | 29/58 | €141,699 | €147,880 | +€6,181 | +4.4% |
| Amounts receivable within one year | 40/41 | €23,650 | €57,957 | +€34,307 | +145% |
| Trade receivables | 40 | €23,650 | €57,957 | +€34,307 | +145% |
| Cash at bank and in hand | 54/58 | €101,723 | €82,441 | -€19,281 | -19.0% |
| Deferred charges and accrued income | 490/1 | €16,327 | €7,482 | -€8,845 | -54.2% |
| Total equity and liabilities | 10/49 | €3,484,889 | €3,438,823 | -€46,067 | -1.3% |
| Equity | 10/15 | €1,616,342 | €1,800,726 | +€184,383 | +11.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €135,197 | €319,197 | +€184,000 | +136% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €129,000 | €313,000 | +€184,000 | +143% |
| Profit (loss) carried forward | 14 | €1,419,172 | €1,419,555 | +€383 | 0.0% |
| Amounts payable | 17/49 | €1,868,547 | €1,638,097 | -€230,450 | -12.3% |
| Amounts payable after more than one year | 17 | €1,460,000 | €1,220,000 | -€240,000 | -16.4% |
| Financial debts | 170/4 | €1,460,000 | €1,220,000 | -€240,000 | -16.4% |
| Amounts payable within one year | 42/48 | €403,314 | €416,274 | +€12,960 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €240,000 | €240,000 | = | 0.0% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €7,660 | €6,874 | -€787 | -10.3% |
| Suppliers | 440/4 | €7,660 | €6,874 | -€787 | -10.3% |
| Taxes, remuneration and social security | 45 | €20,025 | €41,444 | +€21,419 | +107% |
| Taxes | 450/3 | €20,025 | €41,444 | +€21,419 | +107% |
| Other amounts payable | 47/48 | €10,629 | €2,957 | -€7,672 | -72.2% |
| Accrued charges and deferred income | 492/3 | €5,233 | €1,823 | -€3,410 | -65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,539 | €112,998 | +€4,459 | +4.1% |
| Other operating charges | 640/8 | €35,792 | €35,182 | -€610 | -1.7% |
| Gross operating margin | 9900 | €324,895 | €335,872 | +€10,977 | +3.4% |
| Operating profit (loss) | 9901 | €180,565 | €187,692 | +€7,128 | +3.9% |
| Financial income | 75/76B | - | €50,571 | +€50,571 | |
| Recurring financial income | 75 | - | €50,571 | +€50,571 | |
| Financial charges | 65/66B | €38,624 | €35,480 | -€3,144 | -8.1% |
| Recurring financial charges | 65 | €38,624 | €35,480 | -€3,144 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €141,941 | €202,783 | +€60,842 | +42.9% |
| Income taxes | 67/77 | €12,900 | €18,400 | +€5,500 | +42.6% |
| Profit (loss) for the period | 9904 | €129,041 | €184,383 | +€55,342 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €129,041 | €184,383 | +€55,342 | +42.9% |
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 25 October 2026 via checked.be.